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BENGALURU (Reuters) – GlaxoSmithKline Pharmaceuticals, the Indian unit of UK’s GSK plc, posted an 11% rise in first-quarter profit on Wednesday, buoyed by strong demand for its vaccines. The firm said consolidated profit for the quarter ended June 30 rose to 1.32 billion rupees ($16.10 million) from 1.19 billion rupees a year earlier. “GSK’s vaccines …

India’s GlaxoSmithKline Pharma posts rise in Q1 profit on steady vaccine business Read More »

NEW DELHI (Reuters) – India’s Goods and Services Tax (GST) Council will meet on Aug. 2 to decide on a 28% tax on funds that online gaming companies and casinos collect from customers, and finalise other rules, a government official said on Wednesday. The council, chaired by India’s Finance Minister Nirmala Sitharaman and comprising state …

India tax council to meet on Aug 2 to finalise online gaming tax – source Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee declined on Wednesday, amid position adjustments and hedging by importers before the U.S. Federal Reserve’s interest rate decision. The rupee was at 82.00 to the U.S. dollar by 10:50 a.m. IST, down from 81.87 in the previous session. The local currency had opened at 81.8850. The …

Rupee weakens to 82/USD before Fed; bullish wagers scaled back Read More »

BENGALURU (Reuters) -Shares of India’s Larsen & Toubro (L&T) shares jumped 4.3% to a record high on Wednesday, a day after the engineering company posted strong quarterly results, helped by a robust order book, announced a share buyback and a special dividend. L&T’s results are often seen as a key indicator of capital expenditure in …

India’s L&T hits record high on Q1 profit beat, share buyback Read More »

(Reuters) -Qatar’s sovereign wealth fund is in talks to buy a minority stake in the retail arm of Indian billionaire Mukesh Ambani-led conglomerate Reliance Industries , the Financial Times reported on Wednesday. The Qatar Investment Authority is considering a $1-billion investment in Reliance Retail Ventures, for a stake of about 1%, valuing the business at …

Qatar’s QIA in talks for minority stake in India’s Reliance Retail – FT Read More »

BENGALURU (Reuters) -Shares of Tata Motors rose as much as 4.1% to a record high on Wednesday after the company reported a better-than-expected first-quarter profit and announced a plan to cancel its ‘A’ ordinary shares. The automaker was the second-biggest gainer on the benchmark Nifty 50 index after engineering firm Larsen & Toubro. The Mumbai-based …

India’s Tata Motors hits record high on Q1 profit beat, capital reduction plan Read More »

By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -Indian shares advanced on Wednesday, boosted by gains in index heavyweights Reliance Industries, Larsen & Toubro (L&T) and Tata Motors, ahead of the U.S. Federal Reserve’s monetary policy decision. The Nifty 50 index was up 0.58% at 19,794.50, while the S&P BSE Sensex gained 0.65% to 66,789.13 …

Reliance, L&T, Tata Motors power Indian shares ahead of Fed decision Read More »

(Reuters) – India captain Harmanpreet Kaur will miss two international matches and be fined 75% of her match fee following two breaches of the International Cricket Council’s (ICC) Code of Conduct, the sport’s governing body said on Tuesday. The 34-year-old also received three demerit points on her disciplinary record after she expressed frustration over her …

Cricket-Indian skipper Kaur suspended by ICC for Code of Conduct breaches Read More »