BUSINESS
9.2 lakh metric tonnes of wheat sold through e-auction by FCI
In the first week of e-auction, quantities ranging from of 100 to 499 million tonnes attracted maximum demand. After this, the demand was for quantities of 500-1,000 million tonnes, followed by that of 50-100 million tonnes, thus indicating that small and medium flour millers and traders actively participated in the auction.
Portion of Adani Group's capex is deferrable: Moody's
Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will impact the group's ability to raise capital. In a note issued on Friday, Moody's said the credit ratings for Adani Ports and Special Economic Zone Limited.
UPI-based transactions hit record 8.03 bn in Jan at Rs 13 tn in value
According to the data by the National Payments Corporation of India (NPCI), the value of transactions hit nearly Rs 13 trillion in January. The volume of transactions was 7.8 billion, and value was Rs 12.8 trillion in December. This milestone proves that the country is now firmly on the path to becoming a digital-first economy.
No immediate impact on credit ratings of Adani Group: Fitch Ratings
The credit rating agency also said its ongoing monitoring will be looking closely at any major changes to the rated entities' access to financing or cost of financing on a long-term basis, unfavourable regulatory/legal developments or ESG-related matters that could affect credit profiles.
Subsidiary sale boosts India Cements net
In a regulatory filing India Cements on Friday said it closed the quarter ended December 31, 2022 with a revenue from operations of Rs 1,219.46 crore (Q3FY22 Rs 1,108.46 crore) and a net profit of Rs 90.73 crore (Rs 3.30 crore). The exceptional income item of Rs 294.28 crore is the profit on sale of investments made in Springway Mining Private Ltd.
Apple sets all-time sales record in India, retail store soon: Tim Cook
In the analysts' call after posting its quarterly results, Cook said late on Thursday that looking at the business in India, "we set a quarterly revenue record and grew very strong double digits year over year and so we feel very good about how we performed".
Amul hikes milk price by Rs 3/litre for Delhi, Maha & Kolkata consumers
The price has been increased for the consumers in Delhi, Kolkata and Maharashtra. "We would like to inform you that the price of Amul pouch milk (all variants) has been revised upwards as under w.e.f. February 2, 2023 night dispatch (February 3, 2023 morning)," the GMCCF said in a statement. "We would like to inform you that the price of Amul pouch milk (all variants) has been revised upwards as under w.e.f. February 2, 2023 night dispatch (February 3, 2023 morning).
Former UK PM Boris Johnson's brother Lord Jo Johnson resigns as director of Adani-linked firm
Lord Johnson was appointed as a director in June of last year, but resigned on Wednesday, the same day that the Adani Group announced the withdrawal of its Follow-on Public Offer (FPO). Elara was one of the bookrunners on the FPO. Johnson explained that his resignation was due to a lack of "domain expertise".
Google's parent Alphabet logs $76 bn in revenue, bets big on AI
The company said it would take a charge of between $1.9 billion and $2.3 billion related to the layoffs of 12,000 employees. Google Cloud brought in $7.32 billion in revenue, a 32 per cent increase from the year-ago quarter. "Our long-term investments in deep computer science make us extremely well-positioned as AI reaches an inflection point,
3 Adani Group companies placed under short-term surveillance by BSE, NSE
The criteria for shortlisting these securities include high-low variation, client concentration, number of price band hits, close-to-close price variation, and price-earning ratio. The NSE and BSE have stated that these companies meet the standards for inclusion in the short-term ASM.
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