BUSINESS
RIIL's Q4FY22 consolidated net profit down 64.6% YoY
The company's net profit during the quarter under review declined to Rs 1.06 crore from Rs 3 crore in the corresponding period of the previous fiscal. However, the company's total income, which includes 'other income', rose to Rs 19.65 crore from Rs 18.88 crore reported for Q4FY21.
EPFO adds 14.12 lakh net subscribers in February
According to the Ministry of Labour and Employment, the month-on-month comparison of payroll data reflects a slight increase of 31,826 net subscribers in February compared to the previous month. On a year-on-year comparison, February 2022 saw an increase of 1,74,314 as compared to the net subscriber addition in corresponding month of 2021. There is consistent increase in the net subscriber addition since October 2021, showcasing trust in the services rendered by the organisation.
India's non-basmati rice exports grows 109% from FY2013-14 to FY2021-22
As per the data from Director General of Commercial Intelligence and Statistics (DGCIS), Kolkata, India exported non-basmati rice worth $2,015 million in 2019-20, which rose to $4,799 million in 2020-21 and $6,115 million in 2021-22. India exported rice to over 150 countries in 2021-22, of which 76 countries were sent non-basmati rice worth more than $1 million in 2021-22, indicating the diversification of rice export basket over the years, the government officials said.
Keeping opening session gains intact, indices settle high
With the day's rise, the indices broke the five day losing streak. In the past five sessions, the Sensex and Nifty declined almost 4 per cent each, data showed. On Wednesday, Sensex settled at 57,038 points, up 574 points or 1.02 per cent, whereas Nifty was at 17,137 points, up 178 points or 1.05 per cent.
India must manufacture more mobile tempered glass screens to counter China
"Tempered glass should be brought under the CRO (Compulsory Registration Order (CRO) regime so that proper standardisation sets in. This will move the market to the organised sector, in the same line as the mobile accessories like chargers, batteries, tempered glass, hearables, and wearables," the findings showed.
Recent malware attack had no bearing on operations: Oil India
The state-owned company had suffered a major cyber-attack in its field headquarters in eastern Assam's Duliajan, with the hacker demanding $75,00,000, IANS reported on April 13. After receipt of the report of malware threat, precautionary measures were taken by the company, it said in a regulatory filing to the exchanges.
Gautam Adani promises Rs 10,000 cr investment in West Bengal
He made this announcement while addressing the inaugural session of the Bengal Global Business Summit (BGBS)-2022, the annual event organised by the West Bengal government to showcase the state as an ideal investment destination.
NITES files complaint with Centre against Infosys over employment clause for staffers
NITES, an NGO working for welfare and benefits of IT/ITES and its related sector employees and actions focused on various issues faced by IT/ITeS/BPO/KPO employees, has submitted an official complaint to the Ministry of Labour and Employment, Government of India and Ministry of Corporate Affairs against Infosys in this regard.
View from NYC: Despite cuts to growth projections, India to keep top spot in large economy league
India's Gross Domestic Product is projected to grow by 8.2 per cent this fiscal year and keep the top spot despite the International Monetary Fund shaving off just under a percentage point, according to its World Economic Outlook (WEO) report released on Tuesday. China, which is experiencing a slowdown, is the second-fastest-growing large economy at 4.4 per cent this year. (Spain has a slightly higher growth projection of 4.8 per cent, but it ranks 14th in the size of its economy.)
HDFC to sell 10% stake in HDFC Capital to ADIA's subsidiary
Accordingly, the housing loan major entered into binding agreements to sell 10 per cent of its fully diluted paid-up share capital of HDFC Capital to ADIA's subsidiary for approximately Rs 184 crore. Notably, ADIA is the primary investor in the alternative investment funds managed by HDFC Capital. Set up in 2016, HDFC Capital is the investment manager to 'HDFC Capital Affordable Real Estate Funds 1, 2 & 3'; and is aligned with the Government of India's goal to increase housing supply and support the Pradhan Mantri Awas Yojana - 'Housing for All' initiative.
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