SINGAPORE (Reuters) -Adani Group called off a $2.5 billion share sale as losses for the conglomerate’s biggest firms snowballed to more than $100 billion in the wake of a U.S. short-seller’s report. The rout has sparked concern that the fallout could also affect, more broadly, confidence in India. Following are comments from investment managers: SAMEER …
Investor reaction to Adani market rout after short-seller report Read More »
NEW DELHI (Reuters) – Indian mills have produced 21.6 million tonnes of sugar since the current season began on Oct. 1, up 6% year on year, the Indian Sugar Mills Association said on Thursday. (Reporting by Mayank Bhardwaj; Editing by David Goodman)
BENGALURU (Reuters) – India’s Bajaj Electricals Ltd reported a near 27% surge in third-quarter profit on Thursday, aided by higher demand for consumer goods such as room heaters and lighting products that helped cushion a hit from rising expenses. Consolidated net profit rose to 611.2 million rupees ($7.46 million) for the three months ended Dec. …
BENGALURU (Reuters) – Housing Development Finance Corp (HDFC), India’s largest mortgage lender, reported a 13.2% rise in third-quarter profit on Thursday, missing estimates, as higher funding costs took the shine off strong housing loan growth. Housing demand has remained strong in India despite a flurry of interest rates hikes last year, as a burgeoning rising …
India’s largest mortgage lender HDFC misses Q3 profit view on higher funding costs Read More »
BENGALURU (Reuters) -Indian shares declined on Thursday as the week-long rout in Adani Group stocks persisted, erasing $100 billion in market value, while insurers fell on a budget tax proposal that would dent the appeal of high-value life insurance policies. The negative sentiment offset a jump in IT stocks, which gained more than 1% on …
Indian shares fall as Adani stocks hurt, insurers slip Read More »
By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee edged higher on Thursday, as risk assets jumped after the U.S. Federal Reserve meeting, but gains in the local currency were capped as equities remained jittery. The rupee was at 81.7625 per U.S. dollar by 10:27 a.m. IST, compared to its previous close of 81.92. The …
Rupee inches up as risk assets rally, gains capped by weak equities Read More »
BENGALURU (Reuters) – India’s DB Corp reported a 44.2% fall in quarterly profit as the owner of India’s largest Hindi daily was hit by high newsprint prices, sending shares down as much as 9.5%. DB Corp, which publishes Dainik Bhaskar, reported a consolidated net profit of 482.8 million rupees ($5.9 million) for the quarter ended …
Dainik Bhaskar-owner DB Corp’s Q3 profit slumps 44% on high newsprint costs Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s January palm oil imports fell 31% from a month ago to their lowest in months as a narrowing discount to rival oils prompted refiners to increase purchases of soybean and sunflower oils, five dealers told Reuters on Thursday. The reduction in palm oil imports by India, the world’s …
Top palm oil buyer India’s Jan imports fall to six-month low – dealers Read More »
By Nidhi Verma NEW DELHI (Reuters) – Sales of gasoline and gasoil by Indian state-run retailers declined in January from the previous month as cold weather in parts of the country hit the movement of personal and commercial vehicles, preliminary sales data showed. State retailers sold about 6.7 million tonnes of gasoil in January, a …
Cold weather hits India’s gasoline, gasoil sales in Jan Read More »
CHENNAI (Reuters) – Growth in India’s fast-moving consumer goods (FMCG) industry slowed in the last three months of 2022 from the previous quarter as rural shoppers spent less on washing powder and shampoo, market intelligence firm NielsenIQ said on Thursday. FMCG companies – particularly those who make personal care products – have struggled to pull …
India’s FMCG industry slows on dull rural, non-food demand – NielsenIQ Read More »
