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BENGALURU (Reuters) – India’s Tribhovandas Bhimji Zaveri (TBZ) posted a 50% rise in first-quarter profit on Monday, helped by increasing demand for its gold jewellery despite soaring prices. Consolidated net profit rose to 170.5 million rupees ($2 million) in the quarter ended June, the jeweller said, while sales rose 4.5% to 5.96 billion rupees. TBZ’s …

India’s TBZ reports rise in Q1 profit on higher gold jewellery sales Read More »

MUMBAI (Reuters) – The Reserve Bank of India said on Monday that the entities it regulates will have to abide by certain broad principles when employing various credit models, as it attempts to ensure prudence and robustness in the use of these models. “Inherently, model outputs are exposed to uncertainties as they are based on …

India cenbank lays down regulatory principles for credit risk models Read More »

BENGALURU (Reuters) – Titan’s shares fell 4.1% on Monday, after the Indian jeweller and watchmaker missed first-quarter profit estimates on Friday as higher gold prices hindered demand in its mainstay jewellery segment. Titan was the top loser on the Nifty 50 index, which is down 1.68%. The Tata group-owned company reported a 5% fall in …

India’s Tata-owned Titan slips on Q1 profit miss Read More »

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 »

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 …

India’s Tata-owned Titan misses Q1 profit view as high gold prices dampen jewellery demand Read More »