Home appliances maker Orient Electric posted an over two-fold rise in fourth-quarter profit on Friday, helped by strong demand for its fans and air coolers with the onset of summer. The company’s profit rose to 312.6 million rupees ($3.66 million) in the quarter ended March 31, from 128 million rupees a year ago. Revenue from … Read more
India’s Shapoorji Pallonji Group has secured investor commitments of more than $4 billion for its debt sale in April, surpassing its funding target, two sources familiar with the matter said on Friday. The group, which caters to sectors including construction and real estate, plans to raise $3.2 billion to $3.3 billion through the bond issue, … Read more
CEO of Nutrihub, B Dayakara Rao (right), felicitating Uttarakhand Agricultural Minister Ganesh Joshi during International Nutri Cereal Convention 6.0 (INCC) in Hyderabad on Friday. Also seen are Director General of the National Institute of Rural Development and Panchayati Raj (NIRD&PR) G. Narendra Kumar, V.P. Sharma and others. | Photo Credit: Nagara Gopal “There’s an immediate … Read more
The search operations for missing persons in the landslide-hit areas of Chooralmala in Wayanad on Friday failed to trace any bodies or body parts. The massive search operation, jointly carried out by the Army, State forces and volunteer groups, covered areas such as Punchirimmel, Mundakkai, Chooralmala, Soochippara, and Kanthanpara, as well as a 5-km stretch … Read more
The Indian rupee slipped to its weakest closing level on Monday, pressured by a decline in its Asian peers while likely intervention by the Reserve Bank of India ensured the currency did not weaken more. The rupee closed at 83.9725 against the U.S. dollar, after closing at 83.9550 in the previous session. The currency hovered … Read more
U.S. equity funds saw outflows for the first time four weeks in the seven days ended May 29, hit by rising bond yields and uncertainty over the timing and extent of Federal Reserve interest rate cuts. According to LSEG Lipper data, net outflows from U.S. equity funds totalled $7.6 billion. This came as the yield … Read more
Edelweiss Financial Services said its Rs 200 crore public issue of debentures opened on Monday. The non-convertible debentures (NCDs) will have an effective annual yield of 9 per cent to 10.46 per cent. The issue will close on April 23. The NCDs carry fixed coupons and have a tenure of 24 months, 36 months, 60 … Read more
The Reserve Bank of India is wary of complacency in the domestic bond market, given the volatility in international markets, said Parul Mittal Sinha, head-financial markets, India at Standard Chartered Bank. In an interview with Bhaskar Dutta, she said the Indian rupee will be relatively better performing despite the strengthening US dollar. Edited excerpts: The … Read more
In the ever-changing world of investments, trying to predict the future of an economy can be challenging. Whether you are an experienced investor or just starting your financial journey, understanding whether an economy is on the path of growth or heading towards a recession is crucial. Fortunately, there is a valuable tool that can provide … Read more
The Narayanaswamy temple at Anandur at the KRS backwaters, which is normally submerged, has resurfaced owing to depleting water level in the reservoir. | Photo Credit: M.A. SRIRAM Farmers in South Karnataka region, including Mysuru, Mandya, and Chamarajanagar belt, are staring at stunted crop growth and lower yield due to the prolonged dry spell and … Read more