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India’s Radico Khaitan posts Q4 profit rise on strong premium liquor demand

14 May 2024

BENGALURU (Reuters) – Indian liquor maker Radico Khaitan reported a 26% rise in fourth-quarter profit on Tuesday, driven by strong demand for its premium brands. The Magic Moments vodka maker reported a consolidated net profit of 539.1 million rupees ($6.5 million) for the quarter ended March 31 up from 426.5 million rupees a year ago. …

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Unchecked explosion of retail trading can spark market stability concerns, India finance minister says

14 May 2024

MUMBAI (Reuters) -Any unchecked explosion of retail trading could trigger challenges for investor sentiment and markets, India’s finance minister said at a financial markets event organised by the Bombay Stock Exchange on Tuesday. “Any unchecked explosion in retail trading of futures and options can create future challenges, not just for the markets, but for investor …

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India’s Bajaj Electricals misses Q4 profit view on sluggish demand

14 May 2024

BENGALURU (Reuters) – Consumer appliances maker Bajaj Electricals reported a fourth straight quarter of profit decline on Tuesday, missing estimates due to sluggish demand for its lights, water heaters and kitchen appliances. The Mumbai-based company said consolidated net profit fell to 293.1 million rupees ($3.5 million) for the three months ended March 31, from 518.5 …

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The water tanker drivers who keep ‘India’s Silicon Valley’ Bengaluru going

14 May 2024

BENGALURU (Reuters) – Basavaraj, a water tanker driver in India’s tech hub Bengaluru, has to leave home by 6:30 a.m. each day to collect enough water for his customers, who now depend on his services for a very basic need. Residents of the southern city of 14 million people, capital of Karnataka state and often …

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Blackstone-led consortium eyes snacks business of India’s Haldiram’s, sources say

14 May 2024

By M. Sriram and Aditya Kalra MUMBAI (Reuters) – A consortium including Blackstone, Singapore state fund GIC and Abu Dhabi Investment Authority (ADIA) is in talks with India’s Haldiram’s for a majority stake in its snacks business at a valuation of up to $8.5 billion, two sources with direct knowledge said. Haldiram’s, a household name …

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Four dead, several feared trapped under billboard in freak accident during Mumbai rainstorm

14 May 2024

MUMBAI (Reuters) – At least four people are dead, 61 injured and more than 40 feared trapped after a massive billboard fell during a rainstorm in India’s financial capital of Mumbai on Monday, local officials said. The rainstorm was accompanied by gusty winds, causing the billboard, located next to a busy road in the eastern …

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Instant view: India’s retail inflation eases to 4.83% in April

13 May 2024

(Reuters) – India’s retail inflation rate eased slightly in April, partly due to lower fuel prices, although food prices remained elevated, government data showed on Monday. Annual retail inflation in April was 4.83%, down from 4.85% in March. Economists polled by Reuters had forecast April retail inflation at 4.80%. Food inflation, which accounts for nearly …

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India’s retail inflation eases slightly in April, surge in food prices continues

13 May 2024

By Sarita Chaganti Singh NEW DELHI (Reuters) -India’s retail inflation rate eased slightly in April, partly due to lower fuel prices, although food prices remained elevated, government data showed on Monday. Annual retail inflation in April was 4.83%, down from 4.85% in March. Economists polled by Reuters had forecast April retail inflation at 4.80%. Food …

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