BUSINESS
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.
10 flights cancelled in Jan 2022 due to deployment of 5G services in US
Minister of State for Civil Aviation V.K. Singh in a written reply in the Lok Sabha on Thursday said that the government is aware of the concerns expressed by airlines and manufacturers of aircraft upon the rollout of 5G mobile services in the US and its potential interference with the aircraft radio altimeters.
IMF rejects Pakistan's 'unrealistic' debt management plan
The IMF has asked the government to raise the electricity tariffs from PKR 11 to PKR 12.50 per unit in order to restrict the additional subsidy at PKR 335 billion for the current fiscal year, according to Pakistani media. The IMF review mission, led by Nathen Porter, arrived in Islamabad and both sides are continuing talks to complete the pending ninth review under the USD 7 billion Extended Fund Facility (EFF).
Delhi excise policy case: Credit notes were used to pay kickbacks, says ED
The ED has alleged that credit notes were shared between parties who had no common transactions. The ED said that basically, credit notes were eyewash to divert the ill-gotten money. Ordinarily, the credit notes are passed to the person who has direct nexus with or has sold the goods.
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