Reuters India Business

Indian banks should have adequate capital buffers, liquidity: cenbank chief

27 Apr 2023

MUMBAI (Reuters) -Indian banks should have adequate capital buffers and liquidity and be ready to report earnings even under macroeconomic stress, the country’s central bank chief said on Thursday. “Our approach has been to enhance the resilience as well as the robustness of the financial sector so that individual entities effectively withstand stressful situations and …

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India’s Coforge revenue forecast outpaces larger peers, shares rise

27 Apr 2023

BENGALURU (Reuters) – Indian IT services provider Coforge Ltd’s fourth-quarter revenue and its revenue growth forecast for fiscal year 2024 were roughly in line with analysts estimates, in contrast to weaker-than-expected outlooks from its bigger peers. Coforge’s shares were up 1.4% in midday trading on Thursday, compared with a 0.8% rise in the Nifty IT …

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India’s Adani aims to raise up to $800 million for green energy projects -Bloomberg News

27 Apr 2023

(Reuters) – India’s Adani Group is looking to raise up to $800 million for new green energy projects and is in talks with global banks, Bloomberg News reported on Thursday, citing people familiar with the matter. The size of the fundraise could range from about $700 million to some $800 million, the report said, adding …

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Indian shares rise on earnings boost ahead of April derivatives expiry

27 Apr 2023

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Thursday, as strong earnings from major firms overshadowed rising recession fears in the United States, ahead of the April series derivatives expiry. The Nifty 50 was up 0.15% to 17,839.20 as of 10:38 a.m. IST, while the S&P BSE Sensex gained 0.17% to 60,403.63. Twelve of …

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Gold pulls back after brief run to $2,000 on U.S. banking woes

26 Apr 2023

By Deep Kaushik Vakil (Reuters) – Gold eased back on Wednesday as yields recovered with the focus returning to upcoming economic data, after briefly breaking above $2,000 spurred by fresh worries surrounding the U.S. banking turmoil. Spot gold fell 0.6% to $1,985.80 per ounce by 12:25 p.m. EDT (16:25 GMT) after jumping as high as …

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India’s Shoppers Stop swings to profit on higher beauty products demand

26 Apr 2023

BENGALURU (Reuters) – India’s Shoppers Stop Ltd reported a quarterly profit from a year-ago loss on Wednesday, as the department store operator benefited from strong demand for beauty products and higher margin private-label clothing. High-income shoppers splurged on clothes and accessories as they returned to their pre-pandemic lifestyles, especially during the wedding season between January …

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India’s Voltas Q4 profit slumps on provisions over contract terminations

26 Apr 2023

BENGALURU (Reuters) – India’s Voltas Ltd posted a 21.2% drop in fourth-quarter profit, as the air conditioner and refrigerator maker remained under pressure from the termination of some overseas contracts. Consolidated net profit fell to 1.44 billion rupees ($17.62 million) in the quarter ended March 31, compared with 1.83 billion rupees a year earlier, the …

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India’s SBI Life posts Q4 profit beat on higher premiums

26 Apr 2023

BENGALURU (Reuters) – India’s SBI Life Insurance Co Ltd on Wednesday reported a larger-than-expected 15.6% rise in quarterly profit, helped by higher income from premiums. SBI Life, one of India’s largest life insurers, reported profit after tax of 7.77 billion rupees ($95.12 million)for the three months ended March 31, from 6.72 billion rupees a year …

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