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India’s Kajaria Ceramics posts surprise Q4 profit drop on higher costs

BENGALURU (Reuters) – India’s Kajaria Ceramics reported a surprise drop in fourth-quarter profit on Tuesday, hurt by increased costs and weak demand. Kajaria’s consolidated net profit fell 5.2% year-on-year to 1.02 billion rupees ($12.2 million) in the fourth quarter. Analysts, on average, had expected profit to climb to 1.26 billion rupees, according to LSEG data. …

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Indian court extends pre-trial detention of opposition leader Kejriwal, Live Law says

By Sakshi Dayal NEW DELHI (Reuters) -An Indian city court extended on Tuesday the pre-trial detention of opposition leader and Delhi Chief Minister Arvind Kejriwal until May 20, legal news website Live Law reported, weeks before the capital votes in national elections. The Enforcement Directorate (ED), India’s financial crime-fighting agency, arrested Kejriwal – a staunch …

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India’s small shopping centres turning into ghost malls, says Knight Frank

By Manoj Kumar NEW DELHI (Reuters) – India’s small malls are increasingly turning into ghost malls as consumers move towards online purchases and bigger shopping centres for a better experience, a consultancy report said on Tuesday. Mall properties with a vacancy rate of more than 40% have been termed ghost malls. While there was a …

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Indian state says yoga guru misled public with COVID, other cures

By Arpan Chaturvedi NEW DELHI (Reuters) – An Indian state has accused yoga guru Baba Ramdev of criminal misconduct for promoting his traditional ayurvedic medicine as a cure for COVID-19 because it was only approved as an “immunity booster”, a case filing reviewed by Reuters showed. Ramdev, whose yoga cures and ayurvedic products have made …

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Cricket-Shastri expects big-hitting Dube to play a key role for India at T20 World Cup

NEW DELHI (Reuters) – Former India coach Ravi Shastri expects big-hitting Shivam Dube to set the T20 World Cup alight and says the 30-year-old batting all-rounder will be key to India’s hopes of racking up big totals in the tournament next month. Dube, who is also a handy medium pacer, has established himself as one …

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Rupee flat as traders remain wary of central bank intervention at weaker levels

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Tuesday as traders remained shy of pushing the local currency to weaker levels on expectations that the Reserve Bank of India (RBI) would intervene to prevent a sharp fall. The rupee was at 83.4750 against the U.S. dollar as of 10:10 a.m. …

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Indian PM Modi says he does not oppose Islam, Muslims as election campaign heats up

By Shivam Patel NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi has said he does not oppose Islam or Muslims and wants the community to think about their future growth as they vote in an ongoing general election that completes its third phase on Tuesday. Modi’s critics accuse him and his party of targeting …

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India BJP’s election videos targeting Muslims and opposition spark outrage

NEW DELHI (Reuters) -Animated videos shared by Prime Minister Narendra Modi’s party targeting opposition Congress and the Muslim community have evoked complaints and outrage, as the political climate in India heats up midway through its six-week long election. The videos, shared by the ruling Bharatiya Janata Party on social media platforms Instagram and X over …

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India’s IIFL Finance facing a liquidity crunch after gold loan business curbs, sources say

By Siddhi Nayak and Swati Bhat MUMBAI (Reuters) -India’s IIFL Finance is facing a liquidity crunch as banks have turned cautious while lending to it following a clampdown on the non-bank lender’s gold loan business, a senior official and two bankers told Reuters. “Banks are neither sanctioning new lines (of credit) nor disbursing from already …

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Cricket-Chennai’s Jadeja proves all-round value ahead of World Cup

NEW DELHI (Reuters) – India will be counting on Ravindra Jadeja’s all-round brilliance in the T20 World Cup in June and the Chennai Super Kings player looks in fine fettle as he produced a match-winning performance in Sunday’s Indian Premier League match against Punjab Kings. The 35-year-old is India’s premier spin-bowling all-rounder, apart from being …

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