Tag Archives: FIN08

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 …

MUMBAI, July 25 (Reuters) – The Reserve Bank of India likely bought dollars and conducted sell/buy swaps via public sector banks after the rupee reached a more-than-two-month high on Tuesday, three traders told Reuters. The rupee was last at 81.7950 to the US dollar, off the day’s high of 81.6750. …

MUMBAI, July 25 (Reuters) – Indian private lender RBL Bank (RATB.NS) has the scope to expand its net interest margin (NIM) to above 5% in 2023-24, leaning on more low-cost deposits and a favorable loan book mix, its managing director and CEO told Reuters on Monday. “Our NIMs will not …

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 …

BENGALURU, July 24 (Reuters) – India’s Reliance Industries (RELI.NS) said on Monday it would invest up to 10 billion Indian rupees ($122.24 million) in building data centers in the country along with Canada-based Brookfield Infrastructure. The announcement comes at a time when data center capacity in India is expected to …

BENGALURU, July 24 (Reuters) – India’s Byju’s and its lenders, who own more than 85% of the edtech startup’s $1.2 billion term loan, have agreed to work towards amending that loan by Aug. 3, the steering committee of the creditors group said on Monday. The successful execution of the loan …

BENGALURU, July 24 (Reuters) – Indian mortgage lender PNB Housing Finance (PNBH.NS) on Monday posted a nearly 48% rise in its first-quarter profit, driven by robust demand for housing loans and improved asset quality. PNB Housing, a unit of state-run lender Punjab National Bank (PNBK.NS), said its consolidated net profit …

MUMBAI, July 24 (Reuters) – The recent rise in inflation has prompted Indian investors to push back rate cut expectations by at least a quarter to the middle of 2024, with a sustained rise in prices likely to prompt a further repricing, traders and analysts said on Monday. Surging food …

BENGALURU, July 24 (Reuters) – Indian shares are set to open lower on Monday, tracking Asian peers, amid caution ahead of key corporate earnings and central bank meetings due later this week. India’s GIFT Nifty on the NSE International Exchange was down 0.11% at 19,744, as of 8:03 am IST. …

NEW DELHI, July 21 (Reuters) – Indian renewable energy company ACME Group said on Friday it raised 40 billion rupees ($487.98 million) in fresh funding from infrastructure finance firm REC (RECM.NS), to start its green hydrogen and ammonia project in Oman. The money will be used for the first phase …