BUSINESS
Nirmala Sitharaman calls for debt restructuring to address global crisis
Nirmala Sitharaman made the remark on the first day of the G20 Finance Ministers Central Bank Governors (FMCBG) meeting, which commenced in Washington D.C. on Wednesday. Debt restructuring can be a solution to the global debt crisis, as it is closely intertwined with addressing global poverty challenge, the Union Minister said, noting that it adversely affects the most indebted countries as they also house the poorest people.
TCS closes FY23 with Rs 42,147 crore profit
The company Board at its meeting has recommended a final dividend of Rs.24 per equity share of Re 1 each for FY23. For the fourth quarter of FY23, TCS had logged a revenue of Rs 59,162 crore and a net profit of Rs 11,392 crore. At the year end, TCS had a head count of 614,795 with the software employees attrition rate of 20.1 per cent. The company's net addition of employees during FY23 was 22,600.
Supreme Court allows ex-Unitech promoters Sanjay, Ajay Chandra to apply for bail
In March 2021, the apex court had stayed the Chief Metropolitan Magistrate's order and directed the two to surrender to Tihar jail authorities on or before March 22, 2021. On Wednesday, a bench headed by Chief Justice of India D.Y. Chandrachud set aside the CMM's order passed on January 13, 2021, granting bail to the Chandras.
ED attaches assets worth Rs 40.39cr of Supertech Group
It was alleged in all the FIRs that the company and its directors indulged in a criminal conspiracy to cheat people by collecting funds from prospective buyers in advance against booked flats in their real estate projects and failed to adhere to its agreed obligations to provide the possession of the flats on time, and thus, as per FIRs, the company defrauded the public.
Rana Kapoor gets bail in HDIL case, but will remain in jail
However, currently lodged in the Taloja Jail in Raigad, Kapoor will continue to be behind bars as he faces several other cases in the court. In the present case, the Enforcement Directorate had arrested Kapoor in 2020 under the Prevention of Money Laundering Act (PMLA), alleging that Kapoor, his family members and others got huge bribes for sanctioning massive loans when he was at the helm.
Tata Consultancy Services closes FY23 with Rs 42,147 crore profit
The company Board at its meeting has recommended a final dividend of Rs.24 per equity share of Re 1 each for FY23. For the fourth quarter of FY23, TCS had logged a revenue of Rs 59,162 crore and a net profit of Rs 11,392 crore. At the year end, TCS had a head count of 614,795 with the software employees attrition rate of 20.1 per cent.
Domestic air travel records nearly 60% YoY growth in FY23, challenges continue
Despite healthy recovery in passenger traffic, the domestic aviation industry continues to face challenges on account of elevated ATF prices and depreciation of the Indian rupee with respect to the US dollar, both of which have a major bearing on the airlines' cost structure, said an ICRA report on domestic aviation sector.
US inflation at the lowest since 2021
March's monthly consumer price index (CPI), which measures the price of a basket of goods and services, showed the rate easing off over the last year, The Guardian reported. In February, the annual inflation figures stood at 6 per cent, already a steep decline from its peak of 9.1 per cent in June, the report said.
India's industrial output rose by 5.6% in February 2023
Between April 2022 and February 2023, industrial output registered a growth of 5.5 per cent. The January IIP growth was revised to 5.2 per cent. The official data showed that manufacturing sector's output rose by 5.3 per cent in February 2023, while mining output rose 4.6 per cent, and power generation 8.2 per cent during the month under review.
Retail inflation falls to 5.66% in March as food prices slide
The retail inflation fell mainly due to sharp slide in food inflation, which stood at 4.79 per cent in March against 5.95 per cent in February. Retail inflation was 6.95 per cent in March 2022. With CPI-based inflation falling below 6 per cent, it is now within the RBI's tolerance level, which is between 2 per cent to 6 per cent.
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