By Brijesh Patel (Reuters) – Gold prices extended gains on Wednesday, helped by a weaker dollar and bond yields after the U.S. Federal Reserve delivered a widely expected interest-rate hike and investors digested comments from Chair Jerome Powell. Spot gold was up 0.5% at $1,974.09 per ounce by 03:21 p.m. EDT (1921 GMT). U.S. gold …
Gold rises as U.S. dollar, yields slip after Fed rate hike Read More »
NEW DELHI (Reuters) – Heavy rain brought flooding to an area near New Delhi on Wednesday forcing some evacuations and schools closures as the region braced for more downpours two weeks after the Yamuna river burst its banks inundating parts of the capital. Hundreds of vehicles were submerged in a commercial neighbourhood in Noida city, …
Heavy rain in India’s capital raises new fears of flooding Read More »
BENGALURU (Reuters) – Indian consumer goods company Marico said on Wednesday it will acquire a 58% stake in Satiya Nutraceuticals, which owns a plant-based nutrition brand, for 3.69 billion rupees ($45 million). Marico, owner of the Parachute oil brand, has so far bought a 32.75% stake in Satiya Nutraceuticals and will complete the acquisition of …
India’s Marico to buy 58% stake in plant-based brand for $45 million Read More »
BENGALURU (Reuters) – Toothpaste maker Colgate-Palmolive (India)’s quarterly profit rose 30.5% on Wednesday, aided by improved domestic demand. Net profit rose to 2.74 billion rupees ($33.40 million) for the quarter ended June 30 compared to 2.10 billion rupees a year earlier. Steady rural demand pick-up and some ease in domestic retail inflation helped Indian consumer …
Colgate-Palmolive’s Indian unit reports Q1 profit rise on demand recovery Read More »
NEW DELHI/BENGALURU (Reuters) – The Indian government will sell a stake of up to 5.36% in state-owned Rail Vikas Nigam this week, in a deal that could fetch 13.3 billion rupees ($162.12 million), an exchange filing showed on Wednesday. The government, which owns a 78.2% stake in RVNL, has proposed to sell a 3.4% holding …
Indian govt proposes to sell up to 5.36% stake in Rail Vikas Nigam Read More »
BENGALURU (Reuters) – Automotive and industrial components maker Schaeffler India posted a 5.1% rise in profit on Wednesday, its second straight quarter of single-digit growth, as demand for its industrial products fell and margins remained flat. Schaeffler India, a unit of Germany-based Schaeffler AG, said profit rose to 2.37 billion rupees ($28.90 million) for the …
Schaeffler India posts single-digit profit growth for second straight quarter Read More »
BENGALURU (Reuters) – Indian tech-to-tractor conglomerate Mahindra & Mahindra on Wednesday said it bought a 3.53% stake in private lender RBL Bank for 4.17 billion rupees ($50.8 million). The company might consider further investment in the lender subject to pricing, regulatory approvals and required procedures, Mahindra said, adding that the investment will not exceed a …
India’s Mahindra & Mahindra picks up 3.53% stake in RBL Bank for $51 million Read More »
By Neha Arora NEW DELHI (Reuters) – India’s Prime Minister’s office (PMO) has launched a probe into potential dumping of Chinese stainless steel products into the country, Abhyuday Jindal, managing director of Jindal Stainless, said on Wednesday. “The Prime Minister’s Office has taken up the mantle,” Jindal told reporters, adding that the matter was likely …
India’s PMO probing dumping of Chinese stainless steel – Jindal Stainless Exec Read More »
MUMBAI (Reuters) -India’s Axis Bank Ltd reported a smaller-than-expected 40.5% growth in first-quarter profit on Wednesday, as a sharp surge in loan-loss provisions outstripped a jump in net interest income. The Mumbai-based private lender reported a net profit of 57.97 billion Indian rupees (nearly $707 million) for the quarter ended June 30, compared with analysts’ …
India’s Axis Bank misses Q1 profit view as loan-loss provisions jump Read More »
SAO PAULO (Reuters) – The New Development Bank (NDB), the multilateral bank set up by the BRICS states, is not considering new projects in Russia as it operates in line with restrictions imposed in financial and capital markets, its head said on Wednesday. Dilma Rousseff said in a statement posted on messaging platform X, formerly …
BRICS bank NDB says not considering new projects in Russia Read More »
