Wipro, India's fourth-largest software company, posted higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its clients in the U.S. communications sector. The company's consolidated revenue fell 1% to 223.02 billion rupees ($2.65 billion) in the July-September quarter, but was above analysts average estimate of 222.58 billion rupees, as per LSEG data. … Read more
Home appliances maker Havells India reported a smaller-than-expected rise in second-quarter profit on Thursday, due to lower demand for its air conditioners and fans on account of the monsoon season and higher expenses. Profit rose nearly 10% from a year earlier to 2.73 billion rupees ($32.5 million) for the three months ended Sept. 30, but … Read more
India's Axis Bank reported a bigger-than-expected rise in second-quarter profit on Thursday, helped by higher core lending income on the back of strong credit demand. The country's fourth-largest private lender by market capitalisation said its standalone net profit – which excludes its subsidiaries – rose 18% to 69.18 billion rupees ($823.25 million) for the quarter … Read more
India's Tata Communications reported an 18% growth in its second-quarter revenue on Thursday, helped by steady demand for its digital services. The firm posted revenue of 57.67 billion rupees ($686 million) for the three months ended Sept. 30, as compared to 48.73 billion rupees a year earlier. Tata Communications provides services such as data connections … Read more
The FIIs as per Thursday's data were net sellers in both equity and debt segments, according to data released by the NSDL. In equity segment, the gross buying was of Rs 15988.91 crore against gross selling of Rs 18552.71 crore. Thus, FIIs stood as net sellers of Rs 2563.80 crore in equities. In the debt … Read more
India’s data centre market, valued at $7 billion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 8 per cent to reach $8 billion by 2025, a report showed on Thursday. Additionally, the country’s data centre capacity is set to expand from 1,150 MW in 2023 to 1,700 MW by … Read more
Indian shares are set to open little changed on Friday after a three session losing streak that was sparked by an exodus of foreign funds and disappointing results from marquee companies. The Gift Nifty was trading at 24,728 as of 08:20 a.m. IST, indicating that the benchmark Nifty 50 will open near its close of … Read more
The Indian rupee is poised to open nearly flat on Friday amid a rally in the dollar index and U.S. rates and expectations that the country's central bank will aid the local currency. The 1-month non-deliverable forward indicated that the rupee will open barely changed to the U.S. dollar from 84.0675 in the previous session. … Read more
Gold breached the $2,700-per-ounce level on Friday for the first time ever, as U.S. election jitters and simmering Middle East tensions boosted safe-haven demand, while a looser monetary policy environment also added fuel to the rally. Spot gold firmed 0.5% to $2,706.76 per ounce by 0220 GMT, adding nearly 2% so far in the week. … Read more
The Australian dollar and Chinese yuan ticked higher on Friday after China's closely watched third-quarter growth figures came in slightly better than forecasts, but kept the pressure on policymakers to roll out more stimulus quickly. Elsewhere, the dollar was headed for its third weekly gain in a row, helped by a dovish European Central Bank … Read more