Tag Archives: FIN

India’s Tata Consumer posts Q1 profit miss on higher expenses

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 …

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India’s Mahindra & Mahindra picks up 3.53% stake in RBL Bank for $51 mln

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 …

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Indian shares rise as Fed sticks to script

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) …

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