Reuters India

BENGALURU (Reuters) – Footwear maker Bata India reported its first drop in profit in eight quarters on Wednesday, as soft demand dragged its revenue growth to a nine-quarter low. The company’s consolidated profit fell 10.5% to 1.07 billion Indian rupees ($12.92 million) in the April-June quarter, while revenue from operations increased just 1.6% to 9.58 …

Bata India posts first profit drop in two years on sluggish demand Read More »

BENGALURU (Reuters) – India’s Tata Power Company on Wednesday reported a more than 22% jump in first-quarter profit, led by robust growth in its transmission and distribution segment. Consolidated net profit rose to 9.72 billion rupees ($117.4 million) for the quarter ended June 30, compared with 7.95 billion rupees a year ago, the energy arm …

India’s Tata Power’s Q1 profit rises on strong transmission growth Read More »

By Dharamraj Dhutia MUMBAI (Reuters) – The Reserve Bank of India may look to tighten domestic rupee liquidity to quell inflationary pressures but will refrain from permanent cash withdrawal, several traders and analysts said ahead of Thursday’s monetary policy review. The central bank is expected to hold policy rates steady but could turn more hawkish …

India cenbank may tighten cash conditions, but CRR hike unlikely -traders Read More »

HYDERABAD (Reuters) – Granules India Ltd, the maker of paracetamol and ibuprofen pain relievers, reported a 62.5% fall in first-quarter profit on Wednesday, as a cyber security incident significantly disrupted operations. The generic drug maker’s consolidated net profit tumbled to 478.9 million rupees ($5.8 million) in the April-June quarter, from 1.27 billion rupees a year …

Paracetamol maker Granules India’ Q1 profit hurt by cyber attack disruptions Read More »

By Mayank Bhardwaj NEW DELHI (Reuters) – India will provide 5 million metric tons of wheat and 2.5 million tons of rice to bulk consumers such as flour millers, as part of efforts to augment supplies and stabilise prices, a senior government official told reporters on Wednesday. The world’s second-largest consumer of wheat and rice …

India to offer 5 million tons wheat to bulk consumers to cool prices Read More »

BENGALURU (Reuters) – Indian shares are set to open marginally higher on Wednesday after China’s consumer prices logged a smaller-than-expected fall in July, ahead of U.S. inflation data and Reserve Bank of India’s (RBI) policy decision due this week. India’s GIFT Nifty on the NSE International Exchange was up 0.21% at 19,602 at 8:30 a.m. …

Indian shares set to open marginally higher, focus on RBI decision Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to struggle at the opening on Wednesday in the wake of the dollar index’s move higher on weak risk appetite. Non-deliverable forwards indicate rupee will open slightly weaker to the U.S. dollar from 82.8275 in the previous session. “If you take into account the …

Rupee to remain under pressure following dollar index up move Read More »

By Milounee Purohit BENGALURU (Reuters) – India’s retail inflation likely accelerated to 6.40% in July on surging food prices, breaching the upper end of the Reserve Bank of India’s 2%-6% tolerance band for the first time in five months, a Reuters poll of economists found. Food prices, which account for nearly half of the inflation …

India July inflation likely breached RBI’s 6% upper tolerance level: Reuters poll Read More »