Reuters India

India’s Shoppers Stop posts third straight fall in quarterly profit

BENGALURU (Reuters) – India’s Shoppers Stop reported a third consecutive fall in quarterly profit on Thursday as consumers spent less on clothes and cosmetics amid elevated prices. Net profit fell 41% to 368.5 million rupees ($4.43 million) in the three months ended Dec. 31, the department store operator said in an exchange filing. India’s inflation …

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Indian footwear retailer Metro Brands’ Q3 profit hit by slowing sales

BENGALURU (Reuters) – India’s Metro Brands, which sells shoes from brands including Fila, Crocs and Mochi, reported its fourth straight drop in quarterly profit on Thursday, hurt by high inventory costs amid slowing sales growth. The company’s net profit fell 12.6% to 978.1 million rupees ($11.8 million) in the October-December quarter, missing analysts’ estimate of …

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India must sustain growth momentum, secure at least 7% growth in FY25 -RBI bulletin

By Swati Bhat MUMBAI (Reuters) – India must aim to sustain the current growth momentum and secure a real GDP growth of at least 7% next fiscal year in an environment of macroeconomic stability, the Reserve Bank of India said in its monthly bulletin released on Thursday. “In India, potential output is picking up with …

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India’s Tata Technologies to invest $1.8 billion in Telangana state

BENGALURU (Reuters) – Tata Technologies will invest 150 billion rupees ($1.80 billion) in the Indian state of Telangana to set up government-affiliated skilling centres, the state government said on Thursday. The investment from the unit of Tata Motors is the second commitment to the Telangana government in two days after the Adani Group announced a …

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India IndusInd Bank sees margins largely flat “going forward”

By Sethuraman N R and Siddhi Nayak BENGALURU (Reuters) -India’s IndusInd Bank said on Thursday it expects net interest margin (NIM) remaining largely flat “going forward,” helped by its loan portfolio. The bank’s NIM – the difference between interest obtained on loans and interest paid on deposits expressed as percentage – edged up to 4.29% …

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India cenbank sold net $1.9 billion in spot forex market in Nov –bulletin

MUMBAI (Reuters) – The Reserve Bank of India (RBI) sold $1.93 billion, on a net basis, in the spot foreign exchange market in November, data released on Thursday as part of the central bank’s monthly bulletin showed. The RBI said it purchased nearly $35 billion and sold $36.9 billion. In October, the central bank had …

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India’s Tata Communications posts fastest quarterly revenue growth in 9 years

BENGALURU (Reuters) – India’s Tata Group-owned Tata Communications reported its fastest quarterly revenue growth in nearly nine years on Thursday, boosted by strength in its mainstay data services business. Revenue rose 24.4% to 56.33 billion rupees (nearly $678 million) for the quarter ended Dec. 31, according to an exchange filing. The company, which provides services …

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India far better placed to deal with geopolitical challenges, says cenbank chief

By Una Galani DAVOS, Switzerland, Jan 18 (Reuters) – Slowing global growth is reason for concern, a cause of worry but India is better placed to deal with various geopolitical challenges, Reserve Bank of India Governor Shaktikanta Das said at the World Economic Forum in Davos on Thursday. “Geopolitical flashpoints are continuing, new flashpoints are …

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