Reuters India

India’s HDFC Bank beats Q3 profit forecast, plans listing consumer finance unit

By Siddhi Nayak and Sethuraman N R MUMBAI (Reuters) -HDFC Bank, India’s biggest private lender, posted a bigger-than-expected profit for the third quarter on Tuesday, bolstered by robust loan growth, and said it will soon start work on listing its non-bank consumer financing business. Indian banks have consistently clocked double-digit loan growth over the past …

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Mahindra calls for EV level playing field amid Tesla’s India entry plans

By una galani DAVOS, Switzerland, Jan 16 (Reuters) – Indian automaker Mahindra & Mahindra has told the government there must be a level playing field between domestic and foreign players and local manufacturing must be promoted, a top executive said, as New Delhi seeks to lure carmakers such as Tesla. Mahindra and Tata Motors have …

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India’s L&T Technology retains full-year forecast after all units post Q3 growth

By Sai Ishwarbharath B (Reuters) – Indian tech services provider L&T Technology Services retained its revenue growth forecast for the current financial year on Tuesday as all its five business verticals posted year-on-year growth for the third quarter. The Mumbai-based firm expects revenue for the current fiscal year ending March 31 to grow 17.5%-18.5% in …

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Shriram Finance to issue over 3-yr dollar denominated bonds – bankers

MUMBAI (Reuters) -India’s Shriram Finance plans to raise funds through U.S. dollar denominated bonds maturing in three years and three months, two merchant bankers said on Tuesday. The funds will be used to support social projects and other activities allowed under the Reserve Bank of India’s external commercial borrowing guidelines, a term sheet showed. The …

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India’s Jindal SAW posts twofold growth in Q3 profit; order book swells

BENGALURU (Reuters) – India’s Jindal SAW on Tuesday reported an over twofold growth in its third-quarter profit, as demand in the Middle East and North Africa (MENA) region remained steady and its order book grew. The company posted a consolidated profit after tax of 5.32 billion rupees ($64.1 million) for the quarter ended Dec. 31, …

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