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BENGALURU (Reuters) – Indian private lender Axis Bank reported a better-than-expected 70% jump in second-quarter profit on Thursday, as bad loan provisions slid and asset quality improved. Net profit rose to 53.3 billion rupees ($644.72 million) in the three months to Sept. 30 from 31.33 billion rupees a year ago, Mumbai-based Axis Bank said in …

India’s Axis Bank beats profit estimates as provisions slide Read More »

MUMBAI (Reuters) – India will tour Bangladesh in December for the first time since 2015 to play two tests and three one-day internationals, the Bangladesh Cricket Board (BCB) said on Thursday. Rohit Sharma’s men will kick off the month-long trip with the three ODIs, which will all be played at the Sher-e-Bangla National Cricket Stadium …

Cricket-India to tour Bangladesh in December for two tests, three ODIs Read More »

By Nimesh Vora and Dharamraj Dhutia MUMBAI (Reuters) – The Indian rupee will fall further against the U.S. dollar over the rest of the year, a Reuters poll on Thursday showed, setting up the currency for its steepest annual decline in at least nine years due to a widening domestic trade balance and surging U.S. …

Indian rupee to drop further to 84.50/USD by year-end: Reuters poll Read More »

BENGALURU (Reuters) – Shoppers Stop reported a 60% jump in its second-quarter revenue on rebounding demand for clothes and shoes even as its move to spend heavily on fresh stock ahead of the festive season pressured profit. The Indian department store operator’s shares, which more than doubled this year, fell nearly 5% to 765 rupees …

India’s Shoppers Stop posts 60% revenue jump, plans for big festive period Read More »

By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee slid to a record low for a second consecutive day on Thursday, weighed down by yet another jump in the U.S. dollar and Treasury yields on expectations that the Federal Reserve would continue with its aggressive monetary tightening. Expectations of rate hikes in India have, on …

Rupee hits record low on worries of aggressive U.S. rate hikes Read More »

NEW DELHI (Reuters) – Festival-goers who let off firecrackers in New Delhi during this year’s Diwali face up to six months in jail, the city’s environment minister said on Wednesday, under a broader ban introduced to help combat extreme winter pollution. Delhi, a city of about 20 million, is the world’s most polluted capital and …

Diwali firecracker users face jail under New Delhi anti-pollution drive Read More »

By Shivam Patel NEW DELHI (Reuters) -India’s opposition Congress party declared veteran leader Mallikarjun Kharge its new chief on Wednesday, the first person from outside the influential Nehru-Gandhi family to hold the beleaguered party’s presidency in 24 years. Kharge, an 80-year-old from the lowest rung of India’s caste system, is seen as a loyalist of …

India’s Congress elects first non-Gandhi chief in 24 years Read More »