In this issue

January 26, 2023

US firm accuses Adani of share rigging, fraud

Adani group questions report's timing, calls it malicious; shares sink

2 mins

Tata Motors turns profitable after 7 quarters in Q3

After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of ₹3,043 crore in the third quarter (Q3) of 2022-23.

2 mins

From packaged food items to hotel menus: ITC gung ho on millets

ITC is planning to jump on the millets bandwagon by leveraging the strength of its businesses in the agriculture, food, and hospitality sectors. Sanjiv Puri, chairman & managing director of the company, on Wednesday, announced the launch of the ITC Millets Mission.

2 mins

Haven't got any new payment plan from Vi: Indus Towers

Indus Towers on Wednesday said it has not received any new proposals for an updated payment plan from VodafoneIdea (Vi), and stressed that the situation remains dynamic.

1 min

ShareChat's 2 co-founders step down from active roles

ShareChat's co-founders Bhanu Pratap Singh and Farid Ahsan have stepped down from executive roles at ShareChat, the firm's chief executive officer Ankush Sachdeva said in an internal note on Wednesday.

1 min

DLF's profit up 37%; revenue falls to ₹1.5K cr

Real estate major DLF on Wednesday reported a net profit of ₹519.21 crore for the third quarter (Q3) of 2022-23 (FY23), reflecting an increase of 36.8 per cent compared to the profit of ₹379.48 crore in the year-ago quarter.

1 min

Biyani resigns as exec chairman of Future Retail

Kishore Biyani has resigned as executive chairman and director of Future Retail and his resignation has been placed before the Committee of Creditors, as per the Insolvency and Bankruptcy Code, the company said in an exchange filing.

1 min

Cipla's profit up 10%; US sees best quarterly sales

Mumbai-based drugmaker Cipla posted a 10 per cent YoY rise in net profit to ₹801 crore for the third quarter of 2022-23, on the back of a 6 per cent jump in total revenue from operations to ₹25,810 crore.

1 min

₹4,670-cr windfall: Women's IPL hits it for a six

The auction for five teams in the women's Indian Premier League, now called the Women's Premier League (WPL), concluded on Wednesday, with the Board of Control for Cricket in India (BCCI) walking home with nearly ₹4,670 crore, beating estimates of ₹4,000 crore that experts suggested before the bets. The auction of teams was for a 10-year period (2023-32).

2 mins

Bajaj Auto's marginal profit growth rides on strong domestic demand

PERFORMANCE REPORT: DECEMBER QUARTER

1 min

1 in every 4 Indians concerned about threat of layoff: Survey

Every one in four Indians is concerned about the threat of job layoff while three out of four are worried about rising inflation, yet half of them believe that the country's economy will grow in 2023, according to a survey by marketing data and analytics firm Kantar.

1 min

Edtechs want lower taxes, funding, sops

The education technology (edtech) sector, once a darling of investors, has seen a downturn in form. At the peak of the pandemic, edtechs took over as a key source of education, after playing second fiddle to offline classes for a long time.

2 mins

Lancet: Covishield booster offers best immune response

A booster dose of Covishield offers the best immune response, irrespective of whether the primary doses were of Covishield or Covaxin, according to a new study conducted in India and published in The Lancet Regional Health-Southeast Asia journal.

1 min

Tax cut, OPS restoration on citizens' Budget wish list

Halwa ceremony today marks final preparations

2 mins

Remembering the architect who strove to build timelessness

B V DOSHI: AUGUST 26, 1927 JANUARY 24, 2023

3 mins

Credit card spends cross ₹1 trn for 10th mth in a row

Net card addition fell substantially in December to 580,000

2 mins

RBI floats paper on regulatory purview

It is desirable that special purpose entities (SPEs) and resolution managers should be under the regulatory purview, the Reserve Bank of India (RBI) on Wednesday said in a discussion paper on framework for securitisation of stressed assets.

1 min

PSBS, insurers likely drove India's first green bond auction

The government's maiden sale of green bonds was greeted with strong demand by investors on Wednesday, with the securities being issued at lower yields than those prevailing on regular sovereign bonds of comparable maturity.

2 mins

Centre to sell 3 mt of wheat in open market to control surging prices

Atta prices from central wheat pool capped at ₹29.50 per kg; wheat stocks above buffer requirement

2 mins

Constitution withstood test of time: President

In her first address as President of India, ahead of the nation's 74th Republic Day, Droupadi Murmu felicitated the government for its timely interventions and policies in a variety of areas, including the Atmanirbhar Bharat initiative, the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), and the Digital India campaign.

2 mins

Telcos bag 20 mn 5G customers in less than 4 months

Indian telcos have been able to garner over 20 million 5G customers in less than four months after the official launch of the service last October, according to industry estimates.

2 mins

Microsoft Cloud disruption hits users worldwide

THOUSANDS AFFECTED IN INDIA

2 mins

Washington Post fires 20, shuts gaming section

The broadsheet has begun firing employees citing a decline in advertising revenue and readership

1 min

Another China syndrome

Permission for Apple's suppliers raises questions

2 mins

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