By Nikunj Ohri and Nishit Navin BENGALURU (Reuters) -Life Insurance Corp of India, the country’s biggest insurer, reported on Monday a drop in its new business margin in the fourth quarter, while its profit rose slightly. Value of new-business margin (VNB), a measure of the profit margin of new premiums earned, fell to 17.2% for …
New business margin at India’s LIC falls, profit rises slightly Read More »
By Rishika Sadam HYDERABAD (Reuters) – Indian drugmakers, which have the U.S. market as a key segment, will sustain their revenue improvement in fiscal 2025 due to drug shortages in the United States, Mumbai-based India Ratings and Research said on Monday. India is a hub of bulk generic drug manufacturing and drugmakers including Dr Reddy’s, …
By Bharath Rajeswaran BENGALURU (Reuters) – Indian Prime Minister Narendra Modi returning to power for a rare third consecutive term will boost shares of defence, infrastructure, railway and capital goods companies, the head of brokerage Motilal Oswal Financial Services said. “These were areas where the government has focussed on, invested money. High probability that the …
Modi’s return will power India’s defence, infra stocks, Motilal Oswal’s Agrawal says Read More »
By Daksh Grover (Reuters) – Gold prices jumped 1% on Monday after a two-week low hit in the previous session as investors assessed diminishing bets of U.S. interest rate cuts ahead of a key inflation report due later in the week. Spot gold was up about 1% to $2,355.60 per ounce as of 10:05 a.m. …
Gold gains 1% as traders brace for key US inflation data Read More »
BENGALURU (Reuters) – India’s National Aluminium Company (NALCO) reported fourth-quarter profit above estimates on Monday, helped by lower costs of key raw materials including thermal coal and bauxite. Its consolidated profit before exceptional items and tax came in at 9.43 billion rupees (about $114 million) for the three months ended March 31, above analysts’ average …
India’s NALCO tops Q4 profit estimates on lower input costs Read More »
BENGALURU (Reuters) – India will buy back 400 billion rupees ($4.81 billion) worth of government bonds, the country’s central bank said on Monday. The securities offered for buyback are four government bonds with maturity dates in the second half of 2024, the Reserve Bank of India (RBI) said in a statement. The announcement comes a …
India to buy back government bonds worth 400 billion rupees, cenbank says Read More »
Indian jeweller Tribhovandas Bhimji Zaveri reported a 7.5% rise in its fourth-quarter profit on Monday, driven by steady demand. The company said its consolidated net profit rose to 126.1 million rupees ($1.5 million) for the quarter ended March 31, up from 117.3 million rupees a year ago. The jewellery retail chain’s bottom-line received a boost …
India’s Tribhovandas Bhimji Zaveri posts Q4 profit rise on steady demand Read More »
BENGALURU (Reuters) – Tyremaker Goodyear India on Monday reported a fourth-quarter loss as sales of commercial vehicles like tractors and trucks dipped, and customers also put off refurbishing their vehicles. The Indian unit of U.S.-based Goodyear Tire’s standalone net loss stood at 42.1 million rupees ($506,606.34) for the three months to March 31 from a …
Tyremaker Goodyear India posts Q4 loss on weak demand for tractors Read More »
BENGALURU (Reuters) -India’s Adani Energy Solutions said on Monday that its board has approved a fundraise of up to 125 billion rupees ($1.50 billion). The power distribution company will raise funds via the issuance of shares or other securities by way of qualified institutional placements or through any other permissible mode, it added. Adani Energy …
India’s Adani Energy Solutions to raise up to $1.5 billion Read More »
By Dimpal Gulwani and Manvi Pant BENGALURU (Reuters) -Indian stocks closed lower on Monday as an extended rally in financial stocks on the central bank’s record dividend last week was offset by a drop in energy firms, with volatility remaining high on nerves around elections results. The blue-chip NSE Nifty 50 closed 0.11% lower, while …
Indian shares inch lower in choppy trade amid high volatility Read More »
