BUSINESS
Bharti Airtel posts Rs 2,978.9 crore net for Q2
According to Bharti Airtel, the company had posted a consolidated revenue of Rs 34,728.7 crore for Q2FY23 (against Rs 28,435.2 crore in Q2FY22) and a net profit of Rs 2,978.9 crore (Rs 1,998.1 crore in Q2FY22). The company said its average revenue per user for the quarter under review stood at Rs 190 as compared to Rs 153 in Q2'22 owing to feature phone to smartphone upgradation and data monetisation.
A new feather in AdaniConneX's cap: Chennai 1 Data Centre is now Live!
With an integrated terrestrial fibre and global submarine cable connectivity, Chennai has emerged as a major data centre hub in the APAC region. AdaniConneX's 'Chennai 1' data centre with a total capacity of 33MW (IT load) is strategically positioned to support rising demand in the region.
Rupee touches 83.01 against dollar amid key rate hike expectations by US Federal Reserve
The rupee opened at 82.57 but touched a high of 83.01 during intraday trade. It eventually closed at 82.74. There are expectations of another rate hike by the US Federal Reserve when it meets on Wednesday (November 2). Analysts are hoping that US Federal Reserve chairman Jerome Powell may be less hawkish while reviewing key rates.
Worker exodus, Covid lockdown hit Apple supply chain in China
The factory in the capital of Henan province employs around 300,000 workers. "Neither Foxconn, also known as Hon Hai Technology Group, nor the Zhengzhou government has disclosed how many workers are leaving or are in quarantine," the report mentioned.
Most Indian firms still face key challenges towards net-zero goals
While 24 per cent cite the complexity of the required transformation, 25 per cent point to the lack of talent with expertise implementing net-zero initiatives, and 23 per cent specify limited resources to support the net-zero initiatives, according to the report by Forrester Consulting on behalf of Amazon and non-profit The Climate Pledge.
RBI's measures controlled inflation: Economists
The RBI's Monetary Policy Committee (MPC) will meet on November 3 to discuss what it would tell the Centre as to why it was not able to restrain the inflation within four per cent + or - two per cent. The RBI may also sound out the Central government as to the course of inflation as well as the reasons as to why it may be at the elevated levels. In India, the retail inflation rose to 7.41 per cent in September.
C-295 aircraft facility big step to become truly 'Aatmanirbhar': N. Chandrasekaran
Speaking on the occasion, TATA Sons Chairman N. Chandrasekaran said, "With the setting up of the Final Assembly Line (FAL) in Vadodara, the Tata Group will now be able to take aluminum ingots at one end of the value stream and turn it into am Airbus C295 aircraft for the Indian Air Force. This is a historic moment not only for the Tata Group, but for the entire country, as it embraces the Prime Minister's vision of being truly 'Aatmanirbhar'."
Markets to continue with upward momentum
BSESNESEX gained 652.70 points or 1.10% to close at 59,959.85 points while NIFTY gained 210.50 points or 1.20 per cent to close at 17,786.80 points. The broader market saw BSE100, BSE200 and BSE500 gain 1.17 per cent, 1.12 per cent and 1.05 per cent respectively. BSEMIDCAP was up 0.98 per cent and BSESMALLCAP was up 0.43 per cent. The Indian Rupee gained 21 paisa or 0.25 per cent to close at Rs 82.47.
Sugar export ban extended till Oct 31, 2023
In May this year, the government had banned sugar exports with effect from June 1 till October 31, 2022 after the prices had surged exponentially. "Restriction on export of sugar (raw, refined, and white sugar) is extended beyond October 31, 2022 till October 31, 2023, or until further orders, whichever is earlier. Other conditions will remain unchanged," the Directorate General of Foreign Trade (DGFT) said in a notification dated October 28.
PM urges startups to take advantage of space sector opportunities
In his monthly radio broadcast "Mann Ki Baat", Modi said that Indian industries and startups are engaged in bringing new innovations and new technologies in this field. In particular, the collaboration of IN-SPACe is going to make a big difference in this area. In June 2020, the Government had opened up the space sector to enable the participation of Indian private sector in the entire gamut of space activities.
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