Tag Archives: BLR

CHENNAI/BENGALURU, July 26 (Reuters) – India’s Tata Consumer Products (TACN.NS) reported a smaller-than-expected 24% rise in first-quarter profit on Wednesday, as mounting expenses outpaced higher sales of its eponymous packaged food and beverages. The Kolkata, West Bengal-based company said its consolidated net profit rose to 3.17 billion Indian rupees ($38.66 …

[1/2]A man walks across the LED board showing the logo of Jio at the ongoing India Mobile Congress 2022, at Pragati Maidan, in New Delhi, India, October 3, 2022. REUTERS/Anushree Fadnavis/File Photo MUMBAI, July 26 (Reuters) – India’s Jio Financial Services (JIOF.NS), part of billionaire Mukesh Ambani led Reliance Group, …

BENGALURU, July 26 (Reuters) – GlaxoSmithKline Pharmaceuticals (GLAX.NS), the Indian unit of UK’s GSK plc (GSK.L), posted an 11% rise in first-quarter profit on Wednesday, buoyed by strong demand for its vaccines. The firm said consolidated profit for the quarter ended June 30 rose to 1.32 billion rupees ($16.10 million) …

BENGALURU, July 26 (Reuters) – Indian tech-to-tractor conglomerate Mahindra & Mahindra (MAHM.NS) on Wednesday said it bought a 3.53% stake in private lender RBL Bank (RATB.NS) for 4.17 billion rupees ($50.8 million). The company might consider further investment in the lender subject to pricing, regulatory approvals and required procedures, Mahindra …

BENGALURU, July 27 (Reuters) – Shares of India’s Mahindra and Mahindra (MAHM.NS) fell nearly 7% on Thursday after the conglomerate’s stake purchase in private lender RBL Bank (RATB.NS) raised concerns about the rationale of its capital allocation strategy. Analysts at Macquarie said that the investment and Mahindra’s intention to invest …

BENGALURU, July 27 (Reuters) – Indian shares gained on Thursday after the U.S. Federal Reserve stuck to script with a 25 basis-point rate hike and said it is no longer forecasting a recession, with pharma and metal stocks getting a further boost from strong quarterly results. The Nifty 50 (.NSEI) …

CHENNAI, India, July 26 (Reuters) – A Foxconn (2317.TW) subsidiary is in talks with India’s Tamil Nadu state to invest up to $200 million to build a new plant for electronic components in the southern region, two sources with direct knowledge told Reuters on Wednesday. Brand Cheng, CEO of Foxconn …

BENGALURU, July 27 (Reuters) – Shares of India’s Tech Mahindra (TEML.NS) fell as much as 5.3% on Thursday, their lowest since June 19, a day after the IT services firm posted a surprise drop in quarterly profit as challenging macroeconomic conditions forced clients to curb spending. Tech Mahindra on Wednesday …

BENGALURU, July 27 (Reuters) – The Indian government’s effort to privatise part of its space programme by opening bids to build its small satellite launch rocket has attracted initial interest from 20 companies, an official overseeing the process told Reuters. India’s Small Satellite Launch Vehicle (SSLV) was developed by the …

BENGALURU/CHENNAI, July 27 (Reuters) – Westlife Foodworld (WEST.NS) reported a smaller-than-expected rise in first-quarter profit on Thursday as higher expenses took the shine off increased sales at the operator of McDonald’s (MCD.N) restaurants in West and South India. The franchisee for the U.S. fast-food chain said consolidated net profit after …