MUMBAI (Reuters) – The Reserve Bank of India was likely selling dollars after the rupee dipped to a lifetime low on Monday amid severe risk aversion, four traders told Reuters. The rupee was at 83.7850 to the U.S. dollar at 9:12 a.m. IST having dipped to an all-time low of 83.80 earlier. “They (the central …
Indian central bank likely selling dollars around 83.80 levels, traders say Read More »
MUMBAI (Reuters) – The Indian rupee fell to an all-time low at the open on Monday, on worries that the risk off prompted by U.S. recession worries could lead to foreign outflows. The rupee opened at 83.78 to the U.S. dollar compared to its previous close of 83.75, and slipping past the lifetime low of …
Indian rupee drops to lifetime low on outflow worries Read More »
BENGALURU (Reuters) – India’s MedPlus Health Services reported a surge in first-quarter profit on Friday, driven by growth in the organised retail pharmaceutical sector. MedPlus, which sells medicines online and in retail stores, said consolidated net profit rose 3.8 times to 143.6 million rupees ($1.7 million) for the quarter ended June 30. Growth in the …
India’s MedPlus Health posts Q1 profit surge on strong organised sector growth Read More »
By Munsif Vengattil, Krishn Kaushik and Chris Thomas CHOORALMALA, India (Reuters) – With a steeply pitched tiled roof piercing misty green hills in southern India and a stream gushing through rocks nearby, the Stone House Bungalow was one of the most popular resorts in the Wayanad area of Kerala state. It was empty when two …
How missed warnings, ‘over-tourism’ aggravated deadly India landslides Read More »
BENGALURU (Reuters) -India’s Titan missed first-quarter profit estimates on Friday as higher gold prices hindered demand in its mainstay jewellery segment. The Tata group-owned company reported a 5% fall in consolidated profit to 7.15 billion rupees ($85.4 million) in the quarter ended June 30, from 7.56 billion rupees an year ago. Analysts’ on average expected …
By Munsif Vengattil, Chris Thomas and Jose Devasia MUNDAKKAI, India (Reuters) – Four people were rescued from a house in India’s Kerala state on Friday, three days after devastating landslides, as search operations accelerated with the construction of a key bridge that helped transport heavy equipment to the affected area. Heavy rain in the southern …
Four found alive days after deadly India landslides Read More »
BENGALURU (Reuters) – Indian tobacco-to-hotels conglomerate ITC missed first-quarter profit estimates on Thursday as higher expenses and competition from more affordable brands hurt. The Sunfeast biscuits maker’s profit edged up to 49.17 billion rupees ($587.4 million) for the quarter but missed analysts’ estimate of 51.62 billion rupees, per LSEG data. ITC, like peers Dove-soapmaker Hindustan …
India’s ITC misses Q1 profit view; expenses, competition bite Read More »
SYDNEY (Reuters) – India’s Ola Electric has priced the institutional portion of its initial public offering (IPO) at 76 rupees ($0.9076) per share to raise $330 million, according to a term sheet seen by Reuters. The electric scooter maker plans to raise $734 million in the deal which will be the largest Indian IPO so …
By Forrest Crellin PARIS (Reuters) – India goalkeeper PR Sreejesh always knew the Paris Olympics would be his last major tournament after an illustrious 18-year career and a final chance to win Olympic gold. India ended a 41-year medal drought in men’s Olympic hockey with bronze in Tokyo three years ago and their veteran team …
Olympics-Hockey-Smiling India GK Sreejesh relishing last dance Read More »
By Ashna Teresa Britto BENGALURU (Reuters) -India’s Zomato reported a bigger-than-expected increase in quarterly profit on Thursday, fueled by soaring demand at its quick commerce division Blinkit and steady growth in its core food delivery business. The company’s consolidated net profit rose to 2.53 billion rupees ($30.22 million) in the April-June quarter from 20 million …
Blinkit delivers surging Q1 profit for India’s Zomato Read More »
