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India’s Glenmark Life Sciences posts Q3 profit rise; strong orderbook ahead, says CEO

HYDERABAD (Reuters) – Indian drugmaker Glenmark Life Sciences posted a 13% rise in third-quarter profit on Tuesday, helped by a robust performance by its core active pharmaceutical ingredient (API) business. The Mumbai-based company, which detergent maker Nirma is in the process of taking over, said its profit rose to 1.19 billion rupees ($14.32 million) in …

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India’s JSW Energy posts higher Q3 profit on demand boost, lower fuel costs

BENGALURU (Reuters) – India’s JSW Energy reported a jump in third-quarter profit on Tuesday, helped by greater power demand and lower fuel costs. India’s electricity generation rose 8.7% year-on-year in the December quarter, which analysts attributed to festive activities and strong industrial demand. The country’s average peak demand during the quarter increased 13.8% year-on-year to …

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Indian adhesive maker Pidilite’s Q3 profit jumps on strong demand, lower costs

BENGALURU (Reuters) – India’s Pidilite Industries posted a nearly 68% jump in third-quarter profit on Tuesday, the adhesive maker’s biggest year-over-year growth in nine quarters, driven by sustained demand and easing costs. Consolidated net profit rose to 5.10 billion rupees ($61 million) in the October-December period from 3.04 billion rupees a year earlier, the maker …

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India’s Tata Elxsi posts Q3 profit rise on strength in transportation segment

(Reuters) – Indian design and technology services company Tata Elxsi reported a 6% rise in third-quarter profit on Tuesday, helped by healthy demand in its transportation segment. The company’s net profit rose to 2.06 billion rupees ($24.78 million) for the quarter ended Dec. 31 from 1.95 billion rupees a year ago. Revenue from operations rose …

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Indian shares slump 1.5% as financials weigh; Zee plunges

By Manvi Pant BENGALURU (Reuters) -Indian shares surrendered early gains to end sharply lower on Tuesday, as HDFC Bank led a decline in financials, while Zee Entertainment plunged over 32% after its merger with Sony’s India unit collapsed. The blue-chip NSE Nifty 50 settled 1.54% lower at 21,238.80 points, while the S&P BSE Sensex lost …

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India’s Zee slides 30%, Sony deal collapse stokes worries about its prospects

By Rama Venkat BENGALURU (Reuters) -Shares in India’s Zee Entertainment plunged by as much as 30% on Tuesday, set for their worst day ever, after the collapse of its $10 billion merger with Sony’s local unit fanned concern that it will fail to thrive. At least six brokerages said investors should sell Zee’s stock in …

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Factbox-Cricket-India v England test series

(Reuters) – Following is a factbox on the five-match test series between India and England beginning in Hyderabad on Thursday: FIXTURES First test: Jan. 25-29, Hyderabad Second test: Feb. 2-6, Vishakhapatman Third test: Feb. 15-19, Rajkot Fourth test: Feb. 23-27, Ranchi Fifth test: March 7-11, Dharamsala *Play begins 0400 GMT/0930 local INDIA World ranking: 2 …

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Cricket-India put proud home record on the line against flamboyant England

By Amlan Chakraborty NEW DELHI (Reuters) – India have not lost a test series at home in more than a decade but that formidable record will be under threat when Rohit Sharma’s side take on England in a five-match series beginning in Hyderabad on Thursday. Ben Stokes returns from knee surgery to skipper the side …

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India raises import duty on gold, silver jewellery findings

NEW DELHI (Reuters) – The Indian government has increased the import duty on gold and silver findings, used in making jewellery, and on precious metal coins to 15% from 11%, effective from Jan. 22, to bring them in line with duties on gold and silver bars. In a notification issued on Monday, India’s Ministry of …

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India’s ICICI Bank hits record high on profit beat, margin comfort

BENGALURU (Reuters) -Shares of India’s ICICI Bank hit a record 1,059.4 rupees on Tuesday after its third-quarter profit beat estimates on robust loan growth and margins met expectations. The private lender rose as much as 5% in the session and was the sole stock posting gains on the Nifty Bank index, which was down 0.7%. …

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