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BENGALURU (Reuters) – India’s Tech Mahindra reported its smallest revenue fall in four quarters on Thursday, helped by its manufacturing and healthcare segments, as the company signalled the return of client spending in its key U.S. market. Consolidated revenue in the first quarter fell 1.2% to 130.05 billion rupees ($1.55 billion), beating analysts’ average estimates …

India’s Tech Mahindra beats Q1 revenue view, expects “better” FY25 Read More »

By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – India’s IPO-bound Ola Electric has suspended its electric car launch plans as the Softbank-backed company wants to focus on its e-scooter business, two people with direct knowledge of the decision said. Ola’s founder Bhavish Aggarwal laid out plans in 2022 to launch an electric sports …

SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say Read More »

By Manvi Pant and Bharath Rajeswaran BENGALURU (Reuters) -Indian shares fell for a fifth straight session on Thursday as Axis Bank’s disappointing results added to the sour sentiment since the government raised taxes on equity trading. The NSE Nifty 50 fell 0.5% to 24,280.65 as of 10:00 a.m. IST, while the S&P BSE Sensex shed …

Indian shares on five-day losing run as Axis Bank adds to tax woes Read More »

BENGALURU (Reuters) – Jindal Steel and Power reported a drop in first-quarter profit on Wednesday as a string of higher expenses added to the dent caused by weak steel demand in a quarter that included the general elections. The steelmaker’s consolidated profit after tax fell 21% to 13.38 billion rupees (around $160 million) in the …

India’s Jindal Steel posts smaller Q1 profit as general elections hits demand Read More »

BENGALURU (Reuters) -India’s Larsen and Toubro reported first-quarter profit and revenue above estimates on Wednesday, cushioned by earnings from previously-commissioned projects. The company reported a consolidated net profit of 27.86 billion rupees ($332.9 million) for the quarter ended June 30, up 11.7% year-on-year. Analysts were expecting a profit of 27.44 billion rupees, per LSEG data. …

India’s Larsen and Toubro beats Q1 earnings estimates on order execution Read More »

MUMBAI (Reuters) -The number of intraday traders in India’s equity cash market jumped 300% between fiscal years 2019 and 2023, by when seven out of ten were making losses, the markets regulator said in a study on Wednesday. Those younger than 30 years made up nearly half of all intraday traders in fiscal 2023, but …

India’s intraday stock traders jump 300% in four years, 70% make losses, regulator says Read More »