Reuters India - Squid Business

India’s Power Grid’s profit slips on subdued transmission demand

By Hritam Mukherjee BENGALURU (Reuters) – State-owned utility Power Grid Corporation of India’s first-quarter profit fell more than 5% on Monday, hurt by weaker demand in its core transmission business. The company’s consolidated profit was 35.97 billion rupees ($437.42 million) in the quarter ended June 30, compared with 38.01 billion rupees a year earlier. A …

India’s Power Grid’s profit slips on subdued transmission demand Read More »

Cricket-Bumrah back from injury to lead India in T20 series against Ireland

(Reuters) – India pace spearhead Jasprit Bumrah will return from a lengthy injury absence to lead the side against Ireland in the Twenty20 series next month, the Board of Control for Cricket in India (BCCI) said on Monday. The 29-year-old right-arm seamer has not played international cricket since last September and underwent rehabilitation following back …

Cricket-Bumrah back from injury to lead India in T20 series against Ireland Read More »

Castrol India’s second-quarter profit rises 9% on higher volumes

BENGALURU (Reuters) -Engine oil maker Castrol India reported a 9% rise in second-quarter profit on Monday, helped by higher sales volumes. The Mumbai-based firm’s profit after tax rose to 2.25 billion rupees ($27.4 million) for the June quarter from 2.06 billion rupees a year earlier. Castrol’s revenue from operations increased 7.4% to 13.34 billion rupees. …

Castrol India’s second-quarter profit rises 9% on higher volumes Read More »

India’s Petronet eyes lower prices under renewed long-term deal with Qatar

By Nidhi Verma NEW DELHI (Reuters) – India’s Petronet LNG hopes to extend its long-term gas import deal with Qatar at lower prices than those offered by the world’s top liquefied natural gas (LNG) exporter in recent deals with China and Bangladesh. Indications are that the deals have been done at a slope of 12-13% …

India’s Petronet eyes lower prices under renewed long-term deal with Qatar Read More »

Gold set for best month in four as rate-hike cycle nears end

By Brijesh Patel (Reuters) – Gold prices rose on Monday, putting them on track for their best month in four as an overall weaker dollar and expectations that major global central banks are nearing a peak with interest rate hikes boosted investor sentiment. Spot gold gained 0.6% to $1,971.27 per ounce by 09:59 a.m. EDT …

Gold set for best month in four as rate-hike cycle nears end Read More »

Reliance Retail to launch $200-laptop to replicate phone success

BENGALURU (Reuters) – India’s Reliance Retail will launch a $200 laptop next month as the Mukesh Ambani-owned retailer looks to repeat the success of its low-cost cell phone. The 4G-enabled laptop, called JioBook, is priced at 16,499 rupees ($200.63) and will be available for purchase through the company-run retail outlets and online platform Reliance Digital …

Reliance Retail to launch $200-laptop to replicate phone success Read More »

India’s Adani Group plans $1.82-billion fundraise through bond market – Bloomberg News

BENGALURU (Reuters) – India’s Adani Group is planning to raise 150 billion rupees ($1.82 billion) through the country’s bond market this financial year, Bloomberg News reported on Monday, citing people familiar with the matter. Billionaire Gautam Adani-led conglomerate’s high debt levels were among the concerns that were flagged by U.S. short-seller Hindenburg in a report …

India’s Adani Group plans $1.82-billion fundraise through bond market – Bloomberg News Read More »

India likely to receive below-average monsoon rains in August

By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) -India is likely to receive below-average rainfall in August due to the El Nino weather pattern, a senior weather department official said on Monday, after an above-average monsoon in July helped farmers accelerate crop planting. The monsoon, vital for India’s $3 trillion economy, delivers nearly 70% …

India likely to receive below-average monsoon rains in August Read More »

India’s Oberoi Realty Q1 profit falls on fewer bookings, higher costs

BENGALURU (Reuters) – India’s Oberoi Realty Ltd on Monday reported a 20.2% fall in quarterly profit, hurt by weaker sales and higher expenses. The real-estate developer’s consolidated net profit fell to 3.22 billion rupees ($39.14 million) for the quarter ended June 30 from 4.03 billion rupees a year earlier. Oberoi’s booking value dropped by 37.5% …

India’s Oberoi Realty Q1 profit falls on fewer bookings, higher costs Read More »

After Sequoia split, India’s Peak XV to hold CEOs meet for first time

By M. Sriram MUMBAI (Reuters) – India’s biggest VC firm Peak XV Partners has organised a meeting of its more than 200 investee companies next month, an email shows, a closed-door event some founders see as part of an effort to assuage concerns after its split from Sequoia Capital. Peak XV manages $9 billion in …

After Sequoia split, India’s Peak XV to hold CEOs meet for first time Read More »