Sumeet's Feed
Nov 6, 2015

SBI books 25 percent Q2 profit rise as bad loans dip

MUMBAI (Reuters) – State Bank of India (SBI.NS: Quote, Profile, Research, Stock Buzz), India’s largest lender, beat expectations with a 25 percent rise in second quarter profit on Friday, boosted by increased income from its advances and a drop in its closely monitored bad loan ratio.

Analysts in the sector have been watching for signs that credit quality is stabilising in India. State-owned banks that dominate the industry have been grappling with their worst bad debt burden in a decade, after years of liberal lending and slow credit growth.

Nov 6, 2015

India’s largest bank SBI books 25 pct Q2 profit rise as bad loans dip

MUMBAI, Nov 6 (Reuters) – State Bank of India,
India’s largest lender, beat expectations with a 25 percent rise
in second quarter profit on Friday, boosted by increased income
from its advances and a drop in its closely monitored bad loan
ratio.

Analysts in the sector have been watching for signs that
credit quality is stabilising in India. State-owned banks that
dominate the industry have been grappling with their worst bad
debt burden in a decade, after years of liberal lending and slow
credit growth.

Nov 5, 2015

Tata Steel to press ahead with cuts as China exports bite

MUMBAI, Nov 5 (Reuters) – Tata Steel Ltd, Europe’s
second-largest steel producer, said on Thursday it will press
ahead with cost cuts and restructuring to cope with a surge in
cheap Chinese exports to Europe and India, its two key markets.

Tata, which posted a surprise 22 percent rise in
second-quarter net profit after selling some non-essential
holdings, is trying to revive its struggling British operation
and has cut thousands of jobs since buying Anglo-Dutch Corus in
2007.

Nov 3, 2015

Telecom firms gear up for deals as competition heats ups

MUMBAI (Reuters) – India’s crowded telecoms sector is preparing for a long-awaited shake-up as highly indebted players jostle for access to costly airwaves and brace for the launch of a deep-pocketed new rival backed by India’s richest man, Mukesh Ambani.

Ambani owns oil-to-retail conglomerate Reliance Industries, which is expected to begin offering fast data services across India by early 2016.

Nov 3, 2015

India’s telecom firms gear up for deals as competition heats ups

MUMBAI, Nov 3 (Reuters) – India’s crowded telecoms sector is
preparing for a long-awaited shake-up as highly indebted players
jostle for access to costly airwaves and brace for the launch of
a deep-pocketed new rival backed by India’s richest man, Mukesh
Ambani.

Ambani owns oil-to-retail conglomerate Reliance Industries
, which is expected to begin offering fast data
services across India by early 2016.

Oct 28, 2015

United Spirits eyes high-end spirits to reverse market share loss

MUMBAI (Reuters) – United Spirits Ltd(UNSP.NS: Quote, Profile, Research) will scale back its roster of more than 150 brands and focus on the faster-growing top end, hoping to bolster its fortunes in a market dominated by cheaper, local names.

Anand Kripalu, chief executive of the unit of Britain’s Diageo Plc (DGE.L: Quote, Profile, Research), said the maker of Johnnie Walker whisky expects growth in top-end spirits to outpace the mass market over the next few years, as a growing class of wealthy young professionals demands better quality.

Oct 28, 2015

Diageo’s India unit eyes high-end spirits to reverse market share loss

MUMBAI, Oct 28 (Reuters) – India’s United Spirits Ltd
will scale back its roster of more than 150 brands and
focus on the faster-growing top end, hoping to bolster its
fortunes in a market dominated by cheaper, local names.

Anand Kripalu, chief executive of the unit of Britain’s
Diageo Plc, said the maker of Johnnie Walker whisky
expects growth in top-end spirits to outpace the mass market
over the next few years, as a growing class of wealthy young
professionals demands better quality.

Oct 26, 2015

Low costs keep IndiGo flying high in India’s cut-throat airline market

MUMBAI, Oct 26 (Reuters) – Indian budget airline IndiGo is
likely to reap the rewards of its frugal business strategy when
it launches on Tuesday an up to $465 million initial public
offer in one of the world’s fastest growing – and most
competitive – aviation markets.

IndiGo, India’s largest airline by passenger numbers, is the
only consistently profitable local carrier for the past seven
years, according to consultancy Centre for Aviation (CAPA).

Oct 23, 2015

DBS, South Africa’s FirstRand in talks to buy RBS India unit-sources

HONG KONG/MUMBAI, Oct 23 (Reuters) – Singapore’s biggest
lender DBS Group Holdings and South African banking
group FirstRand are in separate talks to buy Royal Bank
of Scotland Group Plc’s India unit, people with direct
knowledge of the matter told Reuters.

Financial details of the transaction were not immediately
clear, though one of the people said the deal could fetch about
$200 million.

Oct 16, 2015

IndiGo eyes up to $510 million in India’s biggest IPO in three years – sources

MUMBAI (Reuters) – The operator of top Indian airline IndiGo is looking to raise up to $510 million in its initial public offering (IPO), according to sources, betting on an improved financial outlook helped by lower oil prices and surging passenger growth.

That figure is higher than previously expected; bankers said in the summer that the company was expected to raise up to $400 million, but its valuations have since been bolstered after it reported a big rise in annual profits.