NEW DELHI, July 25 (Reuters) – India’s Tata Steel Ltd (TISC.NS) expects lower steel prices in the July-September quarter in India and Europe, aided by a fall in the prices of coking coal, a key raw material, its chief executive and managing director said on Tuesday. “In India, the Q2 …
Read More »India’s SBI Life reports 45% rise in Q1 profit on higher premiums
BENGALURU, July 25 (Reuters) – India’s SBI Life Insurance Co (SBIL.NS) reported a 45% surge in its first-quarter profit on Tuesday, aided by higher income from premiums. SBI Life, one of India’s largest life insurers, said its profit after tax for the quarter ended June 30 rose to 3.81 billion …
Read More »India’s Larsen & Toubro posts Q1 profit beat, approves $1.22 bln share buyback
BENGALURU, July 25 (Reuters) – India’s Larsen & Toubro (LART.NS) reported a better-than-expected first-quarter profit on Tuesday, boosted by strong performance at its core engineering and construction business, and approved buyback of shares worth up to 100 billion rupees ($1.22 billion). L&T’s consolidated net profit after tax surged 46.5% to …
Read More »India’s Mahindra Holidays posts 99% slump in Q1 profit as Europe losses weigh
BENGALURU, July 25 (Reuters) – Mahindra Holidays and Resorts India (MAHH.NS) reported a 99% slump in first-quarter profit on Tuesday, hit by higher expenses and widening losses in Europe. Consolidated net profit for the company, known for its flagship resorts brand “Club Mahindra,” was 1.8 million rupees ($21,992.90) for the …
Read More »Tata Motors to cancel ‘A’ ordinary shares in latest securities rejig
BENGALURU, July 25 (Reuters) – Tata Motors (TAMO.NS) will cancel its ‘A’ ordinary shares, currently trading at a steep discount to the ordinary shares, reducing its overall share count by 4.2%, the automaker said on Tuesday, in its latest move to simplify its securities structure. Tata Motors is the only …
Read More »India’s Tata Motors posts Q1 profit
[1/2]Visitors look at a Tata Motors’ sub-compact sport utility vehicle (SUV) Tata Nexon, after its launch in Mumbai, India September 21, 2017. REUTERS/Shailesh Andrade/File Photo BENGALURU, July 25 (Reuters) – Tata Motors (TAMO.NS), India’s largest automaker by revenue, reported a third consecutive quarterly profit on Tuesday, helped by price hikes …
Read More »India’s Bajaj Auto posts Q1 profit beat on commercial vehicle strength
BENGALURU, July 25 (Reuters) – India’s Bajaj Auto (BAJA.NS) beat expectations on Tuesday, reporting a nearly 42% increase in first-quarter profit on the back of robust demand for its commercial vehicles. Demand pick-up in rural areas and a prolonged wedding season in the country amid some ease in inflation helped …
Read More »Prosus says India’s Byju’s ‘regularly disregarded’ former director’s advice
BENGALURU, July 25 (Reuters) – Prosus NV (PRX.AS), an investor in Indian educational technology startup Byju’s, said on Tuesday that the troubled company’s directors “regularly disregarded advice” despite repeated efforts by the Dutch-listed technology firm’s former director. Prosus, which this year slashed its valuation of Byju’s to $5.1 billion from …
Read More »India’s ITC extends slide on plan to keep hotel business stake post spinoff
BENGALURU, July 25 (Reuters) – Shares of Indian conglomerate ITC (ITC.NS) shares fell as much as 3.3% on Tuesday, extending a slide from the previous session, as investors baulked at the company’s plans to retain a 40% stake in its hotels business after spinning it off. ITC said on Monday …
Read More »Land spinoff holds up India’s $232 million BEML sale – sources
NEW DELHI, July 25 (Reuters) – The privatization of India’s BEML (BEML.NS) is held up due to delays in final approvals from the local state government to complete the transfer of land to a spun-off unit, said two sources. The Indian government is looking to sell 26% out of the …
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