E-commerce company Amazon plans to lay off around 1,000 employees in India as part of its biggest retrenchment exercise across the globe, according to sources. The company has announced the elimination of over 18,000 roles across the globe due to uncertain economic conditions. "The decision to eliminate 18,000 job roles across the globe will impact [...]
The shares of Reliance Industries were trading in the green on Friday after the conglomerate’s subsidiary Jio Platforms Limited (Jio) entered into a regional partnership with Manchester City (Man City) on January 05, 2022, enabling Jio to become the Football Club’s Official Mobile Communications Network Partner in India. Jio and Man City will collaborate on [...]
Oil companies are selling petrol at a profit of Rs 10 per litre but retail prices haven't been reduced as they recoup past losses and make up for a Rs 6.5 a litre loss on diesel, a report said. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) [...]
Zinc oxide manufacturer JG Chemicals has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its [...]
Farm reforms in India are pending even today since 1991, while neighbouring China implemented them way back in 1978, Prime Minister’s Economic Advisory Council's (PMEAC) Chairman Bibek Debroy said on Friday. The reforms undertaken in India in 1991 were pertaining to external factors and industrial liberalisation, and were not related to agriculture, he said. Currently, [...]
The CBI has filed a new case against Unitech Limited and its former directors in connection with an alleged fraud in the IDBI bank involving an amount of Rs 395 crore, officials said. Nearly six months after a complaint from the bank, the Central Bureau of Investigation (CBI) has booked the company and its former [...]
New Delhi, Jan 6 (PTI) Taming inflation is the top priority for South Asian countries like India as an unchecked price rise may pose risk to growth and investment outlook, Reserve Bank (RBI) Governor Shaktikanta Das said on Friday. Speaking at an event organised by the International Monetary Fund (IMF), he said rising levels of [...]
Equity benchmarks pared initial gains to end lower on Friday, recording their third day of decline, amid weak trend in IT counters. The 30-share BSE Sensex tumbled 452.90 points or 0.75 per cent to settle at 59,900.37. During the day, it tanked 683.36 points or 1.13 per cent to 59,669.91. The broader NSE Nifty went [...]
Bengaluru-based realty firm Sobha Ltd on Friday reported a 36 per cent growth in its sales bookings to Rs 1,424.7 crore for the quarter ended December 2022 on strong revival in demand. In a regulatory filing, Sobha Ltd informed that its sales bookings stood at Rs 1,047.5 crore in the year-ago period. Sobha Ltd achieved [...]
The quarterly results season is set to start next week. The Q3 season will be kick-started by the Indian IT giant Tata Consultancy Services (TCS) followed by other IT giants. Ahead of these, multiplied analysts have given their take on how the companies must have performed in the quarter. Motilal Oswal expects Indian IT companies [...]
