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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 »

MUMBAI (Reuters) – India wants to discourage “excessive speculation” in the derivatives market, and tax changes announced in the budget are intended as one way to do this, a senior finance ministry official said on Wednesday. The government raised the transaction tax on derivative trading on Tuesday. It also increased capital gains tax on equity …

India wants to curb speculative derivatives trading, ministry says Read More »

By Aadi Nair PARIS (Reuters) – The International Olympic Committee (IOC) should investigate India’s wrestling federation (WFI) and bolster its tools to report cases of sexual harassment, the Sport and Rights Alliance (SRA) said in a report published on Tuesday. Several Indian wrestlers protested last year, demanding criminal action against WFI chief Brij Bhushan Sharan …

Olympics-Wrestling-Rights body urges IOC action on alleged sexual harassment of Indian wrestlers Read More »

By Kripa Jayaram and Vineet Sachdev MUMBAI (Reuters) – India struck a balance between greater spending on jobs and rural development as well as transferring more funds to states, while narrowing the fiscal deficit, the 2024-25 budget unveiled on Tuesday showed. The budget comes on the heels of last month’s election setback in which Prime …

India budget shifts spending priorities while keeping fiscal deficit in check Read More »

By Ashwin Manikandan and Haripriya Suresh BENGALURU (Reuters) – India abolished a tax it had imposed on investors pumping money into its startups on Tuesday, in a move that is expected to spur innovation and boost funding for fledgling companies in Asia’s No.3 economy. “To bolster the India startup ecosystem, to boost entrepreneurial spirit and …

INDIA BUDGET – India scraps ‘angel tax’; startup investors rejoice Read More »

(Reuters) – India struck a balance between greater spending on jobs and rural development while narrowing the fiscal deficit in its 2024-25 budget unveiled on Tuesday. The government will spend $24 billion on job-spurring efforts over the next five years and $32 billion on rural development this year alone, Finance Minister Nirmala Sitharaman said while …

Reactions to India’s 2024/25 budget Read More »