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India’s Tata Chemicals posts Q2 profit drop as soda ash prices slip, freight costs rise

(Reuters) – India’s Tata Chemicals reported a near 55% year-on-year fall in its second-quarter profit on Thursday, hurt by lower soda ash prices and higher freight costs. The chemical maker’s consolidated net profit fell to 1.94 billion rupees ($23.1 million) for the quarter ended Sept. 30 from 4.28 billion rupees a year earlier. While revenue …

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India’s LTIMindtree misses Q2 revenue view

(Reuters) – Indian IT services firm LTIMindtree missed quarterly revenue estimates on Thursday, hurt by weak tech spending. The company’s consolidated revenue rose 5.9% to 94.33 billion rupees ($1.12 billion) in the three months to Sept. 30. That was marginally lower than analysts’ average estimate of 94.42 billion rupees, as per data compiled by LSEG. …

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Indian shares slip for third straight day as Bajaj Auto’s forecast adds to blues

By Hritam Mukherjee (Reuters) -Indian shares fell for the third straight session on Thursday as motorcycle maker Bajaj Auto’s warning of weak festive period sales rippled through the markets, adding to the pressure of high stock valuations and the exodus of foreign funds. The Nifty 50 index dropped 0.9% at 24,749.85 points as of 3:30 …

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India’s Jindal Stainless eyes higher sales in Canada

NEW DELHI (Reuters) – India’s Jindal Stainless is targeting increasing sales in Canada if the North American country imposes duties on Chinese products, Managing Director Abhyuday Jindal said on Thursday. “If this duty comes on China then we will be able to push even more volumes into Canada,” Jindal said at a post-results news conference. (Reporting by Neha …

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India’s Wipro beats Q2 revenue estimate

(Reuters) – Wipro, India’s fourth-largest software company, posted higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its clients in the U.S. communications sector. The company’s consolidated revenue fell 1% to 223.02 billion rupees ($2.65 billion) in the July-September quarter, but was above analysts average estimate of 222.58 billion rupees, as per …

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At least 18 die in India’s Bihar state after drinking tainted liquor

By Saurabh Sharma LUCKNOW, India (Reuters) – At least 18 people have died and several more are in hospital after consuming tainted liquor in India’s eastern state of Bihar, a senior government official said on Thursday. The death toll is likely to rise, the official, who did not want to be named because he is …

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Rupee ends at record closing low, pressured by outflows, weak Asia FX

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended at its weakest closing level on record on Thursday, weighed down by strong dollar demand from foreign banks, likely due to outflows from equities, and the weakness in regional peers as the U.S. dollar rose to an eleven-week high. The rupee closed at 84.0675 against …

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Havells India misses Q2 profit view on lower demand, surging expenses

(Reuters) – Home appliances maker Havells India reported a smaller-than-expected rise in second-quarter profit on Thursday, due to lower demand for its air conditioners and fans on account of the monsoon season and higher expenses. Profit rose nearly 10% from a year earlier to 2.73 billion rupees ($32.5 million) for the three months ended Sept. …

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Nestle India’s Q2 profit slides on weak demand, higher costs

BENGALURU (Reuters) -Nestle India reported a nearly 9% decline in quarterly profit on Thursday, hurt by higher ingredient prices and weaker demand for its packaged food. The Indian arm of Swiss food major Nestle reported profit before exceptional items and tax of 10.21 billion rupees ($121.51 million) for the second quarter ended Sept. 30. Consumer …

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India’s Jindal Stainless posts Q2 profit decline on lower steel prices

(Reuters) – India’s Jindal Stainless reported a drop in second-quarter profit on Thursday, as falling steel prices offset a drop in input costs. The company’s consolidated profit after tax fell 20% to 6.09 billion rupees ($72.4 million) for the three months ended Sept. 30. The stainless steel maker’s net revenue came in at 97.77 billion …

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