By Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) -India’s industrial output growth rate slipped to a three-month low of 3.7% year-on-year in June, data from the Ministry of Statistics showed on Friday. Analysts in a Reuters poll had forecast an expansion of 5.0%. Industrial output for May was revised to 5.3% from 5.2%. Manufacturing, …
India’s June industrial output rises at slowest pace in 3 months Read More »
BENGALURU (Reuters) – ABB India reported a more than two-fold rise in quarterly profit on Friday, aided by higher order wins in the electrification and process automation businesses. The Indian arm of Swedish-Swiss ABB Ltd, reported a profit of 2.96 billion rupees ($35.74 million) for the second quarter, compared with 1.40 billion rupees a year …
ABB India’s second-quarter profit rises on higher order wins Read More »
By Hritam Mukherjee BENGALURU (Reuters) -India’s Muthoot Finance reported quarterly profit growth for the first quarter in six, as record high prices spurred demand for gold loans. The gold financing company said its profit grew more than 21%, to 9.75 billion rupees ($117.81 million), for the first quarter ended June 30. Muthoot’s interest income, which …
India’s Muthoot Finance posts first quarterly profit growth in six quarters Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves fell for a third straight week and stood at $601.5 billion as of Aug. 4, data from the country’s central bank showed on Friday. They fell by $2.4 billion from the week earlier. The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation …
India’s foreign exchange reserves fall for third week Read More »
By Aditya Kalra NEW DELHI (Reuters) -Deloitte has decided to resign as auditor of India’s Adani Ports amid concerns over certain transactions flagged in a report by Hindenburg, which the company did not wish to independently look into, a source with direct knowledge said. Deloitte in May had pointed to certain transactions flagged by the …
Deloitte to quit as Adani Ports’ auditor over concerns flagged by Hindenburg -source Read More »
BENGALURU (Reuters) – India’s National Mineral Development Corp (NMDC) on Friday reported a rise in quarterly profit, aided by robust iron ore sales. The company posted a profit of 16.50 billion rupees for the first quarter ended June 30, up 12% from a year ago. Increased economic activity and higher infrastructure spending in India have …
India’s NMDC posts Q1 profit rise on strong iron ore sales Read More »
By Aditi Shah NEW DELHI (Reuters) – Exponent Energy, an Indian rapid charging startup, is in talks with new and existing investors to raise money to expand its energy services business to three-wheeled passenger vehicles and buses, its chief executive told Reuters in an interview. The maker of electric vehicle batteries that can be fully …
Indian startup Exponent eyes funding to grow rapid charging business Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee will likely weaken on Friday on expectations that the U.S. Federal Reserve will keep interest rates high despite signs that price pressures are moderating. Non-deliverable forwards (NDF) indicate the rupee will open at around 82.80 to the U.S. dollar, compared with 82.7125 in the previous session. …
Rupee to fall on bets Fed to remain restrictive despite moderating inflation Read More »
BENGALURU (Reuters) – Indian shares are set for a muted start on Friday, as optimism over moderating U.S. inflation offset near-term domestic price concerns. India’s GIFT Nifty on the NSE International Exchange was up 0.05% at 19,550 at 8:15 a.m. IST. Wall Street equities edged higher overnight after data showed that U.S. consumer price inflation …
Indian shares set to open flat as cooling US inflation offsets domestic concerns Read More »
By Brijesh Patel (Reuters) – Gold prices ticked up on Thursday after data showed U.S. consumer prices increased moderately in July, cementing expectations the Federal Reserve is at the end of its rate hike cycle. Spot gold was up 0.1% at $1,915.49 per ounce by 1:51 p.m. EDT (1751 GMT), after rising as much as …
Gold firms on Fed pause hopes after US inflation data Read More »
