BUSINESS
Liquor traders unwilling to place bulk orders, leading to shortage in Delhi
The liquor traders are afraid that if they place orders in bulk, they will be under pressure to clear the inventory anyhow by the end of this month after their licence expires on August 31. The capital city is not experiencing the liquor crisis for just premium brands, even the non-premium brands are not available at many outlets. Meanwhile, a total of six zonal licensees have opted out of the extension and surrendered their licences even as private shops reopened on Tuesday after LG V.K. Saxena's approval for one month extension. It has resulted in the closure of 126 stores out of the total 468 that were presently operating in the city.
ED attaches Rs 105.32 cr bank balances of fintech firms having Chinese links
The ED initiated money laundering investigation on the basis of various FIRs registered by Cyber Crime police station, Hyderabad under various sections of IPC and section 67 of IT Act, following suicides by various persons over alleged harassment for loan repayments.
Govt approves sugarcane FRP of Rs 305 per quintal for FY23 season
Aiming to protect interest of sugarcane farmers, the CCEA has also decided that there would not be any deduction in case of sugar mills where recovery is below 9.5 per cent. Such farmers are likely to get Rs 282.125 per quintal for sugarcane in 2022-23 as against Rs 275.50 per quintal in current sugar season 2021-22.
Average inflation rate highest in 2022, at 6.82%, since 2014
As per the government data, the average inflation was 6.65 per cent in 2014, came down to 4.91 in 2015 and further slipped to 3.33 in 2017. Even in 2019, it was 3.72 per cent but jumped to 6.62 in 2020. Average inflation rate in 2021 was 5.14 per cent. The National Statistical Office (NSO) releases the inflation rate on the 12th of every month (next working day if 12th is a holiday), based on the Consumer Price Index (CPI).
Adani Transmission's revenue of Rs 3,049 crore increased 22% YoY
Consolidated Operational EBITDA increased 10 per cent YoY to Rs 1,213 crore in the quarter. Consolidated PAT at Rs 168 crore in Q1FY23 ended lower YoY. It is not comparable due to Rs 288 crore one-off income (Rs 238 crore net-off tax) in Q1FY22 and adverse forex movement of Rs 185 crore in the current quarter. Consolidated cash profit (excluding one-time) of Rs 731 crore increased 16 per cent from Rs 633 crore in Q1FY22.
Airtel picks Nokia, Ericsson for 5G deployment in India
Nokia said it will provide equipment from its market-leading AirScale portfolio, including modular and scalable baseband as well as high-capacity 5G massive MIMO radios. "Airtel has always believed that the real leverage of 5G technology will come from the capacity to build an ecosystem across devices, networks, applications and services," Gopal Vittal, MD and CEO of Bharti Airtel, said in a statement.
Aditya Birla Capital consolidated PAT rises 42% on-year to Rs 429 cr
The Company, through its subsidiaries, continues to maintain its track record of delivering strong performance through market and macroeconomic cycles, with its diversified business model. NBFC and housing finance business: The overall lending book of the company rose 22 per cent on-year to Rs 69,887 crore, with strong focus on retailisation, with a total active customer base at over 4.8 million.
RBI names minority-dominated regions for banks' priority lending schemes
Presently, the Union Minority Affairs Ministry has classified Sikhs, Muslim, Christians, Zoroastrians, Buddhists, and Jains as "minority communities". The RBI has listed 121 districts where the minority population component is at least 25 per cent, plus the states of Punjab, Meghalaya, Mizoram, Nagaland, and the Union Territories of Jammu & Kashmir, Ladakh, and Lakshadweep.
Indigo reports highest-ever quarterly revenue of Rs 130.2 bn
"Headwinds caused by depreciating rupee and higher fuel prices led to a net loss of Rs 10,643 million for the quarter ended June 2022. Excluding foreign currency loss of Rs 14,246 million, net profit for the quarter aggregated to Rs 3,603 million," the airline said. For the quarter ended June 30, 2022 compared to the same period last year, the airline reported that passenger numbers increased by 221.9 per cent, yield improved by 50.3 per cent and load factor improved by 20.9 points.
Zomato says 'not privy' to shareholders' plan as Uber sells 7.8% stake
Uber, which suffered around $707 million loss in its Zomato investment in the first half of this year, sold its share in the food delivery aggregator via a block deal on stock exchanges that has been bought by several global and Indian VCs, according to sources close to the development of the matter. According to them, the block deal move will actually ensure more "long-term" and stable investment from top VC firms in the company. The Zomato block deal was executed at Rs 50.44 per share equivalent to 612 million or 7.8 per cent of total outstanding shares.
Don't Miss
Advertisement