Latest India news

  • Indian IT outsourcing firm Wipro upbeat on growth prospects 16 hours ago

    By Anannya Pramanick and Nivedita Bhattacharjee BANGALORE/MUMBAI (Reuters) - Wipro, India's third-biggest IT services exporter, posted forecast-beating quarterly profit on Thursday and said it expects a stronger year ahead on increased spending by overseas clients. Rivals Tata Consultancy Services, Infosys and HCL Technologies have already signalled a pick-up in client spending this month, and Wipro says it will also benefit. "The way our trends are ... growth in full-year 2015 will be better than growth in full-year 2014," Chief Executive T.K. Kurien said on Thursday after Wipro reported a 29 percent rise in fourth-quarter net profit. "Discretionary spending at clients had almost dried up since the recession, and companies cannot go on postponing that forever," said Ankita Somani, a sector analyst with Mumbai brokerage Angel Broking. More »

  • India Elections 2014: Busiest Day of the World's Biggest Vote
    India Elections 2014: Busiest Day of the World's Biggest Vote 17 hours ago

    Indians are voting on the biggest day of the country's general elections, with nearly 200 million people eligible to cast their ballots in 12 states. More »

  • India passes halfway mark in election with Hindu nationalists gaining stren …
    India passes halfway mark in election with Hindu nationalists gaining stren … 18 hours ago

    By Ashutosh Pandey and Swetha Gopinath BANGALORE (Reuters) - India called a quarter of its 815 million voters to polls on Thursday, the biggest day of its staggered election, in areas ranging from Himalayan passes to a southern IT hub and western sugarcane farms. The country is now over halfway through its nine days of voting for a new parliament in the world's biggest ever election, with the ruling Congress party struggling to hold ground against the Hindu nationalist opposition. Narendra Modi, the opposition Bharatiya Janata Party's (BJP) candidate for prime minister, has been wooing voters with promises to rouse India's economy from its slowest growth in a decade and create jobs for its booming young population. A decision by the Election Commission to reprimand a senior Modi aide for making speeches deemed to stir tensions with minority Muslims underlined critics' assertions that the party is a divisive force. More »

  • India's Wipro fourth-quarter profit rises 29 percent, beats estimates 20 hours ago

    (Reuters) - India's Wipro Ltd posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. Like its rivals Infosys Ltd and Tata Consultancy Services Ltd, Wipro is banking on a revival in demand for IT services in the industry's biggest markets as the economies of the United States and Europe improve. That compares with average analyst estimates of 21.06 billion rupees in net profit, according to Thomson Reuters I/B/E/S. India's outsourcing sector generates more than 90 percent of its sales from providing services, including setting up IT networks and developing software applications for overseas clients. Shares of Bangalore-based Wipro closed at 585.85 rupees on Thursday. More »

  • India goes to polls in biggest voting day
    India goes to polls in biggest voting day 21 hours ago

    India hosted its biggest day of voting on Thursday with the ruling Congress party battling to stem a further slide in the polls against the opposition Hindu nationalists after another week of damaging headlines. More »

  • Delhi Daredevils v Royal Challengers Bangalore, IPL 2014: Where to Watch Live, …
    Delhi Daredevils v Royal Challengers Bangalore, IPL 2014: Where to Watch Live, … 21 hours ago

    The Delhi Daredevils take on Royal Challengers Bangalore in the second match of the Indian Premier League (IPL) 2014 at the Sharjah Cricket Stadium in the United Arab Emirates on Thursday. The Delhi Daredevils begin their seventh IPL campaign hoping to avoid a repeat of their dismal campaign last year. They retained only one of their star players - Kevin Pietersen - by utilsiing their "Right to Match" option and appointed him as captain. The Daredevils also signed Dinesh Karthik who was part of the victorious Mumbai Indians's squad last year for a significant fee . More »

  • Mattel posts loss as worldwide sales of Barbie fall
    Mattel posts loss as worldwide sales of Barbie fall 22 hours ago

    (Reuters) - Mattel Inc , the world's largest toymaker, reported a net loss for the first quarter due to a fall in worldwide sales of its Barbie dolls and Fisher-Price toys. Mattel's sales in North America fell 2 percent in the quarter ended March 31. The company reported a net loss of $11.2 million (6.6 million pounds), or 3 cents per share, compared with net income of $38.5 million, or 11 cents per share, a year earlier. Mattel's worldwide sales fell 5 percent to $946.2 million. (Reporting by Shailaja Sharma in Bangalore; Editing by Kirti Pandey) More »

  • DuPont profit falls 57 percent after sale of performance coating unit
    DuPont profit falls 57 percent after sale of performance coating unit 22 hours ago

    (Reuters) - Chemicals maker DuPont reported a 57 percent fall in first-quarter net income due to the sale of its performance coating business, which added almost $2 billion (1 billion pounds) to earnings in the year-earlier quarter. Net income attributable to DuPont dropped to $1.44 billion, or $1.54 per share, in the quarter ended March 31, from $3.35 billion, or $3.58 per share, a year earlier. Revenue fell nearly 3 percent to $10.13 billion. (Reporting by Swetha Gopinath in Bangalore) More »

  • India holds biggest day of voting with Hindu nationalists gaining strength
    India holds biggest day of voting with Hindu nationalists gaining strength 23 hours ago

    By Ashutosh Pandey and Swetha Gopinath BANGALORE (Reuters) - India held the biggest day of its mammoth general election on Thursday, with a quarter of its 815 million-strong electorate eligible to vote during a week of fresh blows for the ruling Congress party and gains for the Hindu nationalist opposition. Narendra Modi, the prime-ministerial candidate of the opposition Bharatiya Janata Party (BJP), has been wooing voters with promises to rescue India from its slowest economic growth in a decade and create jobs for its booming young population. In the latest large opinion poll, the BJP and its allies were forecast to win a narrow majority in the 543-seat lower house of parliament, compared to previous surveys predicting that they would fall short. Yet a decision by the Election Commission to reprimand a senior Modi aide for making speeches deemed to stir tensions with minority Muslims underlined critics' assertions that the party is a divisive force. More »

  • Clone candidates clutter Indian election contests Thu, Apr 17, 2014

    By Nandita Bose MAVAL, India (Reuters) - Voters in a parliamentary constituency in western India could be forgiven for asking the real candidates to please stand up. The race in Maval, a constituency of 1.9 million voters in Maharashtra state, has two real contenders: One is Shrirang Barne of the Shiv Sena, an ally of the opposition Bharatiya Janata Party (BJP) that is on track to form the next government. The other is Laxman Jagtap of the Peasants and Workers Party (PWP), an ally of the ruling Congress Party. More »

  • Google, IBM results raise questions about other tech-sector companies
    Google, IBM results raise questions about other tech-sector companies Thu, Apr 17, 2014

    By Alexei Oreskovic and Noel Randewich SAN FRANCISCO (Reuters) - Disappointing results from Google Inc and IBM may unnerve investors shaken by a strong recent selloff in tech stocks, underscoring the challenges the Internet and IT sectors face as corporate report cards come due in coming weeks. IBM blamed weak hardware sales for its lowest quarterly revenue in five years, worsened by an 11 percent slide in overall sales in emerging markets including China, Brazil, Russia and India. Like IBM, they have struggled to grow their businesses, particularly in China, whose economy is down-shifting after years of hyper-growth. More »

  • U.S. calls for more investment-friendly Indian government
    U.S. calls for more investment-friendly Indian government Thu, Apr 17, 2014

    By David Brunnstrom WASHINGTON (Reuters) - The United States on Wednesday urged the Indian government that emerges from ongoing elections to follow economic policies that encourage investment, saying Washington would like to see bilateral trade grow to $500 billion (297.5 billion pounds) a year. Nisha Biswal, U.S. assistant secretary of state for South and Central Asia, said future economic growth in South Asia hinged on India as the region's growth engine. However, Biswal said that while Indian leaders had targeted $1 trillion in infrastructure investment over five years to close gaps preventing growth in manufacturing, policies still inhibited foreign investment. She said India ranked a poor 134 out of 189 countries as a place to invest and start a business. More »

  • India's Modi says committed to no first use of nuclear weapons
    India's Modi says committed to no first use of nuclear weapons Wed, Apr 16, 2014

    By Douglas Busvine NEW DELHI (Reuters) - Indian prime ministerial frontrunner Narendra Modi ruled out the first use of nuclear weapons on Wednesday, seeking to calm concerns after his Hindu nationalist party vowed to revise arms strategy if elected. Modi told the ANI television service the nuclear arms were defensive weapons. India and its rival neighbour Pakistan are both nuclear powers that have been building up their nuclear arms stockpiles and testing long range missiles. In the 70-minute interview, conducted in the Gujarati state capital Gandhinagar, Modi predicted a record result for his Bharatiya Janata Party (BJP) and said the ruling Congress party would crash to its worst-ever electoral showing. More »

  • India's Tata Consultancy sees stronger sales growth this year
    India's Tata Consultancy sees stronger sales growth this year Wed, Apr 16, 2014

    By Aradhana Aravindan and Nivedita Bhattacharjee MUMBAI (Reuters) - Tata Consultancy Services Ltd, India's largest IT services exporter, expects a further rise in revenue growth in the new financial year, it said on Wednesday, after reporting a better than expected 51.5 percent increase in the last three months. Over the last two years TCS has been increasing its profits at a faster pace than local rivals Infosys Ltd and Wipro Ltd, which have been distracted by management revamps and strategy changes. TCS, which posted a near 30 percent rise in revenue in the last fiscal year that ended on March 31, is betting on higher IT spending by its clients in financial services, retail and life sciences sectors to boost growth, he said. Exports by India's IT outsourcing sector are expected to rise 13-15 percent in the current fiscal year, according to the National Association of Software and Services Companies, as an improving global economy encourages banks and companies to boost spending on technology. More »

  • India to Challenge US Dominance on World Wide Web at Global Summit on Internet …
    India to Challenge US Dominance on World Wide Web at Global Summit on Internet … Wed, Apr 16, 2014

    India will challenge US' control of the World Wide Web at the global summit on Internet governance in Brazil, according to the Hindu. The country will also propose renaming Internet 'Equinet,' which India says is more reflective of the role that nations must play in organising the web's resources. The state has in the past raised questions about America's claim over critical internet resources and influence in allocation of domain names. India noted that the internet is a global phenomenon and therefore its administration must also reflect this diversity. More »

  • Journalists smeared me over Gujarat riots - India's Modi Wed, Apr 16, 2014

    Indian opposition leader and general election frontrunner Narendra Modi accused the media on Wednesday of smearing him over sectarian rioting in 2002 in which more than 1,000 people, mostly Muslims, died. Modi's Hindu nationalist Bharatiya Janata Party (BJP) is on track to win India's general election and promote Modi from his current post as chief minister in Gujarat - his home state where the rioting occurred - to become the next prime minister. Rahul Gandhi of the ruling Congress party has said that, even though a Supreme Court inquiry found that Modi had no case to answer, it did not absolve him of responsibility. Modi has also faced accusations that he has been reticent over the killings because expressing contrition might alienate the BJP's core Hindu vote in the five-week election. More »

  • IPL 2014: Kevin Pietersen Out of Delhi Daredevils Opener With Finger Injury
    IPL 2014: Kevin Pietersen Out of Delhi Daredevils Opener With Finger Injury Wed, Apr 16, 2014

    Kevin Pietersen's post-England career has suffered a blow following the news a finger injury will rule the 33 year old out of the Delhi Daredevils' opening Indian Premier League match against Royal Challengers Bangalore on Thursday. Pietersen was due to captain the IPL franchise in their first game in Sharjah but will be absent from the team and could miss the second match against Kolkata Knight Riders on Saturday. More »

  • VMware says to invest $500 million in India over three years Wed, Apr 16, 2014

    (Reuters) - Virtualization software maker VMware Inc said it plans to invest $500 million (297 million pounds) in India over the next three years to expand its operations. The new investment will include about $70 million of unused funds from a $120 million investment plan announced last year, Chief Executive Pat Gelsinger said in a press conference in Bangalore. India is VMware's second-largest operation after its headquarters in California, with offices in Bangalore and Pune. VMware shares closed at $102.22 on the New York Stock Exchange on Tuesday. More »

  • IPL 2014: Watch India Star Virat Kohli Discuss RCB's Chances of Glory
    IPL 2014: Watch India Star Virat Kohli Discuss RCB's Chances of Glory Wed, Apr 16, 2014

     Indian superstar Virat Kohli has expressed confidence in his Royal Challengers Bangalore team as they prepare to begin the 2014 season, despite the nightmare they endured last year. Kohli, RCB's captain in this year's tournament, said he was "really excited" about the season ahead and he had a "great team." RCB have never won the IPL and were eliminated in the group stage for the second year in a row in 2013, after a string of poor displays. However the squad boasts a galaxy of stars including Chris Gayle, Yuvraj Singh and AB De Villiers, the South African who is arguably Kohli's only rival for the mantle of best ODI batsman in the world. More »

  • Tesco seeks Asia pick-up after fresh profit setback
    Tesco seeks Asia pick-up after fresh profit setback Wed, Apr 16, 2014

    Supermarket giant Tesco announced a second drop in annual profits in a row, leaving Britain's biggest retailer hoping that recent expansion into India and China can offset weakness in Europe. More »

  • Mumbai Indians v Kolkata Knight Riders, IPL 2014: Where to Watch Live, Preview …
    Mumbai Indians v Kolkata Knight Riders, IPL 2014: Where to Watch Live, Preview … Wed, Apr 16, 2014

    The 2014 season on Indian Premier League (IPL) kick stars as defending champions Mumbai Indians face Kolkata Knight Riders at Sheikh Zayed Stadium, Abu Dhabi on Wednesday. Mumbai Indians come into the seventh edition of the IPL by winning the tournament last year by defeating Chennai Super Kings in the finals. India's opening batsman Rohit Sharma guided them to their first success in the IPL and will lead the side from front for this campaign. The Mumbai based side will be without the services of Indian batting legend Sachin Tendulkar, who retired from all forms of cricket late last year. More »

  • IPL 2014, Mumbai Indians v Kolkata Knight Riders: Where to Watch Live, Preview …
    IPL 2014, Mumbai Indians v Kolkata Knight Riders: Where to Watch Live, Preview … Wed, Apr 16, 2014

    The 2014 season on Indian Premier League (IPL) kick stars as defending champions Mumbai Indians face Kolkata Knight Riders at Sheikh Zayed Stadium, Abu Dhabi on Wednesday. Mumbai Indians come into the seventh edition of the IPL by winning the tournament last year by defeating Chennai Super Kings in the finals. India's opening batsman Rohit Sharma guided them to their first success in the IPL and will lead the side from front for this campaign. The Mumbai based side will be without the services of Indian batting legend Sachin Tendulkar, who retired from all forms of cricket late last year. More »