By Haripriya Suresh BENGALURU (Reuters) – Indian educational technology company Eruditus has raised $150 million in a new funding round led by private equity firm TPG, at a time when the funding environment for edtech companies has been subdued. Eruditus’ Series F round, which also saw the participation of existing backers SoftBank, Leeds Illuminate, Accel, …
India’s Eruditus raises $150 million in TPG-led funding round Read More »
(Reuters) – India’s Tata Consumer Products reported second-quarter profit above estimates on Friday, as the salt-to-spices maker benefited from higher demand for its packaged food amid a pickup in rural demand. The Tata group-owned company reported a near-8% jump in consolidated net profit to 3.64 billion rupees ($43.3 million) for the three months ended Sept. …
India’s Tata Consumer beats Q2 profit estimates on higher demand for packaged food Read More »
By Shrivathsa Sridhar BENGALURU (Reuters) -Rachin Ravindra smashed a game-changing century as New Zealand posted 402 all out for a substantial first-innings lead of 356 runs over India, who responded by reaching 231-3 at stumps on the third day of the rain-affected opening test on Friday. Resuming on 180-3 at a sun-drenched M Chinnaswamy Stadium, …
Cricket-Ravindra revels in ton as New Zealand rattle India with 402 Read More »
(Reuters) – Indian broadcaster Zee Entertainment Enterprises posted a fall in second-quarter adjusted profit on Friday, although a sharp drop in expenses lifted its margins, sending shares to close 5.3% higher. Zee, whose $10 billion merger with Sony’s Indian unit fell through earlier this year, reported a core profit margin of 16% for the quarter …
Indian broadcaster Zee’s Q2 margin jumps, lifting shares Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves dropped for a second consecutive week, falling to a one-month low of $690.43 billion as of Oct. 11, data from the Reserve Bank of India (RBI) showed on Friday. The reserves fell by $10.75 billion in the reporting week, the biggest drop since April 1, 2022. They had …
India’s FX reserves log worst fall in 2-1/2 years Read More »
By Neha Arora and Mayank Bhardwaj NEW DELHI (Reuters) – India’s steel ministry favours a temporary tax to curb rising steel imports, a senior official with direct knowledge of the matter said, as it seeks to protect steelmakers reeling from a surge in cheaper Chinese imports. A temporary “safeguard duty” would help curb Chinese imports, …
India’s steel ministry favours temporary tax to check imports, source says Read More »
(Reuters) – Manappuram Finance’s shares slumped 16% on Friday, their biggest decline since March 2020, after the Indian central bank’s lending restrictions on the company’s unit triggered rating downgrades due to concerns over a potential hit to earnings. The non-bank lender’s shares fell as much as 18% to 145.42 rupees, their lowest in 10 months, …
India’s Manappuram Finance tanks to over 4-yr low on downgrades after cenbank bars unit Read More »
(Reuters) – India’s Oberoi Realty reported a jump in second-quarter profit boosted by sustained demand for its premium projects, including luxury homes and office spaces. The real-estate developer’s consolidated net profit jumped 29% to 5.89 billion rupees ($70 million) in the three months ended Sept. 30. Its revenue from operations grew 8.5% to 13.20 billion …
India’s Oberoi Realty posts Q2 profit jump on strong demand for premium housing Read More »
(Reuters) -Kotak Mahindra Bank will buy Standard Chartered Bank’s personal loan business in India, the Indian lender said on Friday, leaving the U.K.-based company to focus on its wealth and investment banking business in Asia’s third-largest economy. StanChart’s personal loan book had an outstanding of 41 billion rupees ($488 million) as of Sept. 30, Kotak …
StanChart sells India personal loan business to Kotak Mahindra Bank Read More »
By Hritam Mukherjee (Reuters) -Indian shares snapped a three-day losing streak on Friday as gains in Axis Bank lifted heavyweight financials, although foreign fund outflows dragged down the benchmarks to a third weekly loss. The Nifty 50 index closed 0.42% higher to 24,854.05 points as of 3:30 p.m. IST, after hitting a two-month low earlier …
Indian shares rebound after 3-day slump but weekly losses continue Read More »
