By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Tuesday, led by index heavyweights HDFC Bank after strong quarterly results and Reliance Industries ahead of the demerger of its financial services unit. The Nifty 50 rose 0.21% to 19,753.05, while the S&P BSE Sensex gained 0.24% to 66,752.84 as of 10:09 a.m. IST. Both benchmarks …
BENGALURU (Reuters) – India’s second-largest software services exporter Infosys said on Monday it has signed a deal with an existing client to provide artificial intelligence (AI) and automation services that will span over five years, with a target spend estimated at $2 billion. AI and automation-related development, modernization and maintenance services are included in the …
India’s Infosys signs five-year AI deal with $2 billion target spend Read More »
By Shivangi Acharya and Sarita Chaganti Singh GANDHINAGAR, India (Reuters) – The failure of the G20 to achieve a breakthrough on debt restructuring for vulnerable countries is a “grave concern”, the head of a United Nations agency said on Monday as the body seeks pauses in debt repayment for poor nations amid rising poverty. The …
UN agency says no breakthrough on debt talks at G20 a ‘grave concern’ Read More »
BENGALURU (Reuters) – Mattress maker Sheela Foam on Monday said it will buy a nearly 95% stake in rival Kurlon for 21.5 billion rupees ($262.09 million) in a cash deal as it eyes a bigger share in India’s mattress market. Shares of the company, which makes the “Sleepwell” brand of mattresses, had jumped about 6% …
India’s Sheela Foam to buy mattress maker Kurlon for $262 million Read More »
BENGALURU (Reuters) – Indian design and technology services firm Tata Elxsi on Monday posted its smallest rise in profit in 15 quarters. The company’s profit rose marginally by 2.2% year-on-year to 1.89 billion rupees ($23 million) in the quarter ended June 30, while revenue from operations climbed 17.1% to 8.5 billion rupees ($103.6 million). For …
India’s Tata Elxsi posts smallest profit growth in nearly four years Read More »
By Adnan Abidi and Gabrielle Fonseca Johnson NEW DELHI (Reuters) – People living near a river running through India’s capital began returning to their homes on Monday as floodwaters receded five days after the Yamuna overflowed into the city. The Yamuna River rose to its highest in 45 years last week following unusually heavy rainfall …
People living near Yamuna River in New Delhi return home as waters recede Read More »
By Neha Arora NEW DELHI (Reuters) – Indian traders have been scooping up Chinese steel at a deep discount, industry officials and analysts said, spooking Indian producers ahead of a seasonal pick up in domestic demand. Lured by discounts of $30 to $50 a tonne on hot-rolled and cold-rolled products, Indian buyers are signing a …
Indian traders scoop up cheaper Chinese steel – industry execs say Read More »
BENGALURU (Reuters) – India’s LTIMindtree reported a lower-than-expected first-quarter profit on Monday as some of its clients cut spending due to a challenging macroeconomic environment, while higher employee-related expenses ate into margins. The IT services and consulting firm’s consolidated net profit after tax rose 4.1% to 11.52 billion rupees ($140.44 million) for the three months …
India’s LTIMindtree misses Q1 profit view as clients cut spending Read More »
By Manoj Kumar NEW DELHI (Reuters) – Nearly 135 million people, around 10% of India’s population, escaped poverty in the five years to March 2021, a government report found on Monday. Rural areas saw the strongest fall in poverty, according to the study, which used the United Nations’ Multidimensional Poverty Index (MPI), based on 12 …
One-tenth of India’s population escaped poverty in 5 years – government report Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – Coal India Ltd, a government-owned port, and a state waterways body, are together considering investing up to 120 billion rupees ($1.46 billion) to establish an industrial water transport corridor in the country’s east, two government sources said. The corridor, which could potentially carry 12 to 15 million …
India planning $1.5 billion industrial water transport corridor in east- sources Read More »
