Tag Archives: PUBL

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 Reliance shares drop after Q1 profit misses estimates

BENGALURU, July 24 (Reuters) – Shares of Reliance Industries (RELI.NS), India’s largest company by market capitalization, fell nearly 3% on Monday after the conglomerate posted a bigger-than-expected drop in its first-quarter profit late on Friday. Weak demand and a steep fall in refining margins impacted the company’s flagship oil-to-chemicals (O2C) …

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India’s ICICI Bank beats estimates with record April-June net profit

MUMBAI, July 22 (Reuters) – ICICI Bank (ICBK.NS), India’s second-largest private lender, beat expectations to deliver a record first-quarter net profit on Saturday, helped by higher interest income and loan growth. The Mumbai-based lender reported a near-40% rise year-on-year in net profit to 96.48 billion rupees ($1.18 billion) for the …

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India Kotak Mahindra Bank’s 67% profit jump beats expectations

MUMBAI, July 22 (Reuters) – India’s Kotak Mahindra Bank (KTKM.NS) beat expectations on Saturday with a 67% year-on-year rise in net profit for the April-June quarter, helped by higher net interest income and robust loan growth. The Mumbai-based private lender’s standalone net profit rose to 34.52 billion rupees ($421.1 million) …

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