Reuters India

India’s TVS Motor beats Q3 profit view on strong festive demand

BENGALURU (Reuters) – Indian two-wheeler maker TVS Motor reported a larger-than-expected third-quarter profit on Wednesday, driven by strong demand in the festive season. Indian consumers tend to splurge during the festival season, regarded as an auspicious time for significant purchases such as cars, two-wheelers and electronic goods, when companies offer attractive promotional discounts. This festive …

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Indian shares set to open marginally higher, tracking Asian peers

BENGALURU (Reuters) – Indian shares will likely open with slight gains on Wednesday, tracking their Asian peers after overnight gains on Wall Street, with the focus on whether Axis Bank’s better-than-expected results can alleviate some of the pressure on financial stocks. India’s GIFT Nifty was trading at 22,029 points as of 8:21 a.m. IST, suggesting …

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India to retain top economy title as government spending stays strong – Reuters Poll

By Milounee Purohit BENGALURU (Reuters) – India will remain the fastest-growing major economy this year and next, boosted by continued strong government spending, according to a Reuters poll of economists who also said inflation was unlikely to surge again. The world’s most populous country performed better than expected in the first two quarters of this …

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Soccer-Stimac bemoans lack of strikers after India suffer worst Asian Cup showing in 40 years

AL KHOR, Qatar (Reuters) – India produced their worst Asian Cup performance in 40 years after losing all three of their group matches without scoring as head coach Igor Stimac bemoaned the lack of centre forwards who could step up for the national team in Qatar. India became the second team after China to finish …

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India’s Bharti Airtel prepays $1 billion to partly clear 2015 spectrum dues

BENGALURU (Reuters) – Bharti Airtel has prepaid 83.25 billion rupees ($1.00 billion) to the Indian government’s telecom department to partly clear deferred liabilities for airwaves it acquired in a 2015 auction, it said late on Tuesday. The payment had an interest rate of 10%, India’s second-biggest telecom services operator by subscribers said in an exchange …

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India’s United Spirits third-quarter profit climbs on premium liquor demand

BENGALURU (Reuters) – India’s United Spirits, which makes Smirnoff vodka, reported a rise in third-quarter profit on Tuesday, buoyed by strong demand for its premium brands of alcohol. A greater number of affluent Indians are choosing more expensive cars and consuming pricier food and liquor, unaffected by inflation. This boosted the Diageo PLC-owned company’s profit …

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India’s Axis Bank sees deposit growth catching up with loans

By Siddhi Nayak and Sethuraman N R MUMBAI/BENGALURU (Reuters) -India’s Axis Bank edged past third-quarter profit estimates on Tuesday and signalled that deposit growth will eventually catch up with loan growth. The Mumbai-based private bank reported its standalone net profit rose 3.7% to 60.71 billion rupees ($730.19 million) in the three months ended Dec. 31, …

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