Reuters India

India’s Sula posts profit jump in first earnings report since IPO

BENGALURU (Reuters) – India’s biggest winemaker Sula Vineyards Ltd reported a 15.5% rise in profit on Thursday in its first earnings report since going public, boosted by demand for premium wines and as visits to its vineyards and resorts reached pre-pandemic levels. Sula became India’s only publicly-listed winemaker in December last year, with its initial …

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India’s HPCL posts 80% drop in Q3 profit on marketing margin hit

BENGALURU (Reuters) – State-run Hindustan Petroleum Corporation Ltd (HPCL) reported a 80.2% fall in quarterly profit on Thursday, hurt by a fall in marketing margins on the back of unchanged pump prices. India’s state-run oil marketing companies have been hurt by unchanged retail pump prices for petrol and diesel for more than a year, suppressing …

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India’s Voltas swings to a loss in Q3 on contract termination

BENGALURU (Reuters) – Indian consumer electronics and home appliances maker Voltas Ltd on Thursday swung to a quarterly loss, hurt by a one-time expense from contract termination. The company, best known for its air conditioners and refrigerators, said its consolidated net loss stood at 1.10 billion rupees ($13.33 million) for the third quarter, while a …

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India’s Hindalco posts 63% slump in Q3 profit, sees “much better” Q4

By Ashish Chandra and Neha Arora BENGALURU (Reuters) -Hindalco Industries, one of India’s largest aluminium and copper companies, reported a bigger-than-expected drop in quarterly profit on Thursday due to high costs and lower prices, but expects “much better” results in the current quarter. Benchmark London Metal Exchange aluminium have fallen off the record highs hit …

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Indian shares muted on Fed rate-hike fears; Adani stocks resume fall

BENGALURU (Reuters) -Indian shares struggled for direction before closing marginally higher on Thursday as gains in high-weightage financials and tech stocks offset concerns over the U.S. Federal Reserve’s rate-hike trajectory and a slide in Adani Group stocks. The Nifty 50 index closed 0.12% higher at 17,893.45, while the S&P BSE Sensex ended 0.23% up at …

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Rupee likely to fall on hawkish Fed comments, higher oil prices

By Anushka Trivedi and Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to decline against the U.S. dollar on Thursday, weighed by hawkish comments from Federal Reserve officials and higher oil prices.  The non-deliverable forwards indicated the rupee would open around 82.60-82.62 per dollar, compared with the 82.4925 closing in the previous session. …

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Indian energy company ONGC Videsh eyes oil, gas ‘hot spots’ in Africa, Latin America

By Nidhi Verma and Shariq Khan NEW DELHI (Reuters) -ONGC Videsh (OVL) Ltd, the overseas exploration arm of India’s Oil and Natural Gas Corp, is looking for exploration and production investment opportunities in Africa and Latin America, such as in Ghana and Surinam, managing director Rajarshi Gupta said. The company already has a presence in …

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