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BENGALURU (Reuters) – India’s top cement maker UltraTech Cement Ltd reported a 32.3% fall in fourth-quarter profit on Friday, missing analysts’ expectations, dented by a surge in power and fuel expenses. Profit for the three months ended March 31 came in at 16.66 billion rupees ($203.77 million) against 24.61 billion rupees a year ago. Analysts …

India’s UltraTech Cement Q4 profit falls over 32% on higher energy costs Read More »

MUMBAI (Reuters) – India will probably experience heatwaves in May, especially in eastern states, the weather office said on Friday. The country will also probably receive average rainfall that month, the India Meteorological Department said in a statement. (Reporting by Rajendra Jadhav; Editing by Andrew Heaves)

By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee was little changed against the dollar on Friday amid muted Asian peers, adding to its weekly gains, as corporate inflows propped up the currency over the period. The rupee finished at 81.8250 per dollar compared with 81.8375 in the previous session. It advanced 0.33% for the …

Rupee little changed, notches gains for week on dollar inflows Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to open higher to the U.S. dollar on Friday, boosted by the positive risk appetite and uptick in most of its Asian peers. Non-deliverable forwards indicate the rupee will open at around 81.70-81.75 to the U.S. dollar compared, with 81.8375 in the previous session. …

Rupee to open higher on upbeat risk, upside seen largely capped Read More »

BENGALURU (Reuters) -India’s Tech Mahindra reported a 25.8% slump in fourth-quarter profit on Thursday, hurt by rising expenses and challenging macroeconomic conditions that prompted clients to tighten spending. Consolidated net profit for the information technology services firm fell to 11.18 billion rupees ($136.7 million) for the quarter ended March 31, missing analysts’ expectations of 13.20 …

India’s Tech Mahindra posts 26% slide in Q4 profit as clients cut spending Read More »

BENGALURU (Reuters) – India’s Axis Bank Ltd on Thursday reported a wider-than-expected one-time loss in the fourth quarter, weighed down by costs incurred due to its $1.41 billion Citi deal. Axis reported a loss of 57.28 billion rupees ($700.1 million) for the three months ended March 31, compared to a profit of 41.18 billion rupees …

India’s Axis Bank reports wider-than-expected Q4 loss on Citi deal Read More »

NEW DELHI (Reuters) – Royal Challengers Bangalore stand-in skipper Virat Kohli delivered a blunt assessment of their performance in Wednesday’s Indian Premier League (IPL) match against Kolkata Knight Riders, saying they were not “professional enough” and deserved to lose. Bangalore, one of three teams who have never won the IPL title, slumped to their fourth …

Cricket-Kohli rages at Bangalore fielding after handing Kolkata a ‘freebie’ Read More »

By Aditi Shah NEW DELHI (Reuters) – MG Motor, owned by China’s SAIC Motor, on Wednesday launched the lowest-priced electric car in India, as it seeks to take on local rivals like Tata Motors in the world’s third-largest car market. The two-door Comet EV offers a range of 230 kilometers (143 miles) on a single …

China’s MG Motor seeks to take on rivals with India’s cheapest electric car Read More »