Reuters India

India’s imports from China across at least 25 major commodity groups rise on year

NEW DELHI (Reuters) – India’s imports from China across at least 25 major commodity groups such as consumer electronics, auto components, and iron and steel products rose in fiscal 2023, the government told parliament on Wednesday. The statement, which listed Chinese imports in a total of 31 commodity groups, comes amid New Delhi’s concerted efforts …

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India minister blames unrest in neighbouring Myanmar for Manipur bloodshed

By Krishn Kaushik NEW DELHI (Reuters) – Indian Interior Minister Amit Shah on Wednesday blamed the unrest in Myanmar for the ethnic conflict in the neighbouring northeastern Indian state of Manipur, urging both sides in the Manipur dispute to resolve their dispute through dialogue. Shah told parliament that political instability in Myanmar had prompted thousands …

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Abbott India posts 41% rise in Q1 profit on strong sales

BENGALURU (Reuters) – Abbott India, the Indian arm of U.S. healthcare firm Abbott Laboratories, reported a 41% rise in its first-quarter profit on Wednesday, driven by strong sales in its mainstay pharmaceuticals segment. The company, which makes pain-reliever ibuprofen under the brand name Brufen, said its profit rose to 2.90 billion rupees ($35.02 million), compared …

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India’s Axis Bank to raise stake in Max Life via 16.12 billion rupee investment

BENGALURU (Reuters) – India’s Axis Bank on Wednesday said it will raise its stake in insurer Max Life to 16.2% from 9.99% by infusing 16.12 billion rupees ($194.6 million) through a preferential allotment of shares. Axis Bank along with its entities acquired a 12.99% stake in Max Life in 2021, and through this new investment …

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India’s Zee Entertainment swings to Q1 loss on weak advertising, higher costs

BENGALURU (Reuters) – Zee Entertainment Enterprises reported a quarterly loss on Wednesday, hurt by weak demand for advertisements, while expenses surged. The broadcaster, which is closing in on a merger with the India unit of Japan’s Sony Group, posted a consolidated net loss of 534.2 million rupees for the first quarter ended June 30, against …

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India’s Trent beats Q1 revenue view on higher footfalls

BENGALURU (Reuters) -Indian merchandise retailer and hypermarket operator Trent on Wednesday beat first-quarter revenue estimates, aided by an increase in footfalls and store expansion. Consolidated revenue rose nearly 46% year-on-year to 26.28 billion rupees ($317.4 million) for the quarter ended June 30, compared to analysts’ estimate of 22.81 billion as per Refinitiv data. Like-for-like sales …

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India’s Sula Vineyards posts Q1 profit rise on premium wine demand

Bengaluru (Reuters) – India’s biggest winemaker Sula Vineyards reported a 24.4% rise in first-quarter profit on Wednesday, helped by strong demand for its premium wines and increased footfall at its vineyards. The Mumbai-based company, which became India’s only listed winemaker in December last year, said its consolidated net profit stood at 136.8 million rupees ($1.65 …

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