By Munsif Vengattil MEPPADI, India (Reuters) – Whenever it rains very heavily in the hills of Wayanad in southern India, many people stay awake, recalling a 2019 landslide that killed about 20 people. Last Monday too, housewife M Fathima said she and her extended family in Mundakkai village stayed awake as incessant rain poured down …
Rain, debris, leeches: India landslide survivors recall ‘night of horrors’ Read More »
By Manvi Pant BENGALURU (Reuters) -India’s Tata Steel on Wednesday reported a 51% rise in first-quarter profit as lower costs helped offset stagnant domestic demand. The country’s second biggest steelmaker by market capitalisation said its consolidated net profit rose to 9.60 billion rupees (about $115 million) in the three months ended June 30, up from …
India’s Tata Steel posts Q1 profit rise on lower costs Read More »
By Munsif Vengattil, Chris Thomas and Jose Devasia CHOORALMALA, India (Reuters) -Hopes of finding survivors began to fade as hundreds of rescuers worked through slush and rocks and pulled out bodies from debris in the hills of India’s Kerala state on Wednesday, a day after 167 people were killed in monsoon landslides. Steady rain that …
Hopes of finding survivors fade in India’s Kerala after landslides kill 167 Read More »
BENGALURU (Reuters) – IT products distributor Redington reported a 1% fall in its first-quarter profit on Wednesday, as consumers cut their spending, hurting demand for gadgets. The Apple and Samsung gadgets distributor’s consolidated net profit fell 1% to 2.46 billion rupees ($29.8 million) for the first quarter ended June 30 from 2.49 billion rupees an …
India’s Redington posts muted Q1 profit as international demand falls Read More »
BENGALURU (Reuters) – Indian real estate developer Prestige Estates Projects posted a 12% fall in first-quarter profit on Wednesday – its third straight quarterly profit fall – hurt by lower sales and fewer launches. The company said its consolidated net profit fell to 2.33 billion rupees($27.9 million) for the quarter ended June 30 from 2.67 …
India’s Prestige Estates Projects posts Q1 profit fall on lower sales Read More »
By Jayshree P Upadhyay and Sethuraman N R BENGALURU (Reuters) -The Indian market regulator’s proposed measures to curb the trading frenzy in options will impact high-frequency traders and quant funds as well as brokerage firms that have gained from increased retail investor interest in the segment, traders said. On Tuesday, the Securities and Exchange Board …
High-frequency traders, brokerage firms to face brunt of regulatory curbs on options Read More »
MUMBAI (Reuters) – India’s central bank on Wednesday proposed to allow a wider set of alternatives, including fingerprints and passwords, as additional factors of authentication for all digital transactions. An additional factor of authentication requires two or more ways of verifying the identity of the user, typically used to reduce fraud and cyber crime. Currently, …
India cenbank proposes more options to authenticate digital payments Read More »
By Nikunj Ohri NEW DELHI (Reuters) -India has no plans to reimpose foreign investor limits on new issuances of 5-year, 7-year and 10-year bonds, a government source aware of the development said on Wednesday, after curbs were imposed on bonds with longer tenors. On Monday, the Reserve Bank of India said that in consultation with …
India to keep popular bond tenors free of foreign investment curbs, source says Read More »
MUMBAI (Reuters) – The Indian rupee dropped to a record low against the U.S. dollar on Wednesday, pressured by month-end dollar demand by importers, traders said. The rupee declined to 83.7425 to the dollar, inching past the previous lifetime low of 83.74. (Reporting by Siddhi Nayak; Editing by Savio D’Souza)
WASHINGTON (Reuters) – U.S. Deputy Secretary of State Kurt Campbell said on Tuesday that he expects word soon that India is becoming more engaged with Ukraine, responding to a question at a Senate hearing over Indian Prime Minister Narendra Modi’s visit to Moscow this month. “I think we’re likely to hear news of India engaging …
Top US diplomat expects more Indian engagement with Ukraine Read More »
