DAVOS, Switzerland (Reuters) – Inflation in India is moderating and steadily approaching the central bank’s 4% target while growth prospects remain robust, Reserve Bank of India chief Shaktikanta Das said on the sidelines of the World Economic Forum annual meeting. “Inflation has come under control and is within the band we have, which is 2% …
India inflation moving towards 4% target, says RBI chief Read More »
(Reuters) – Industrial and medical gases manufacturer INOX Air Products said on Tuesday that it has signed a memorandum of understanding with the government of Indian state Maharashtra for a green ammonia plant, which has a planned outlay of $3 billion. The project is aimed to be commissioned in 3 to 5 years and would …
India’s INOX Air Products signs MoU with Maharashtra government Read More »
BENGALURU (Reuters) – India’s ICICI Lombard General Insurance on Tuesday reported a 22.4% rise in third-quarter profit, helped by a growth in premiums and investment income. Profit after tax rose to 4.31 billion rupees (nearly $52 million) for the quarter ended Dec. 31 from 3.53 billion rupees ($42.61 million) a year earlier, the ICICI Bank …
ICICI Lombard posts 22% rise in Q3 profit as premiums climb Read More »
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 …
India’s HDFC Bank beats Q3 profit forecast, plans listing consumer finance unit Read More »
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 …
Mahindra calls for EV level playing field amid Tesla’s India entry plans Read More »
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 …
India’s L&T Technology retains full-year forecast after all units post Q3 growth Read More »
By Shrivathsa Sridhar MELBOURNE (Reuters) – Sumit Nagal, India’s top-ranked singles player, was left with less than a thousand dollars in his bank account at one point last year so it was no surprise he was beaming on Tuesday after ensuring a bumper payday at the Australian Open. The world number 137 had battled his …
Tennis-India’s Nagal guaranteed big payday after stunning win in Melbourne Read More »
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 …
Shriram Finance to issue over 3-yr dollar denominated bonds – bankers Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares fell on Tuesday, dragged by a pullback in high-weightage IT stocks after a recent rally, while investors awaited the results of top private lender HDFC Bank. The blue-chip NSE Nifty 50 shed 0.29% to 22,032.30 points, while the S&P BSE Sensex lost 0.27% to 73,128.77. Both the benchmarks …
IT drags Indian shares after recent rally; HDFC Bank results eyed Read More »
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, …
India’s Jindal SAW posts twofold growth in Q3 profit; order book swells Read More »
