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Tag Archives: BMAT08

India’s Shree Cement beats Q1 profit view on strong domestic demand

BENGALURU, July 26 (Reuters) – Indian cement company Shree Cement Ltd (SHCM.NS) reported a bigger-than-expected 84% rise in first-quarter profit on Wednesday, helped by robust domestic demand. The company reported a profit of 5.81 billion Indian rupees ($70.87 million) for the three months ended June 30, beating analysts’ average estimate …

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India’s Tata Steel CEO says prices to ease in Q2

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 …

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India’s ITC to demerge hotel business into separate company

BENGALURU, July 24 (Reuters) – India’s ITC Ltd (ITC.NS) said on Monday it would spin off its hotels business from the rest of the company, separating it from its cigarettes and food businesses. The cigarettes-to-hotels conglomerate would hold a 40% stake in the newly formed entity, to be named ITC …

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India’s Vedanta posts 41% slump in Q1 profit on soft metal prices

BENGALURU, July 21 (Reuters) – Indian metals-to-oil conglomerate Vedanta ( VDAN.NS ) reported a 40.8% plunge in first-quarter profit on Friday, as weak commodity prices outweighed a slight increase in production and sales for metals like aluminum . Consolidated profit after tax declined to 33.08 billion rupees ($403.55 million) for …

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India’s Reliance misses profit view as oil-to-chemicals business drags

BENGALURU, July 21 (Reuters) – Reliance Industries (RELI.NS), India’s most valuable company, reported a wider-than-expected drop in first-quarter profit on Friday, as its flagship oil-to-chemicals (O2C) business was hurt by weak demand and a steep fall in refining margins. Reliance’s O2C business is still its main growth engine that powers …

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