India Inc profit surges 65%, world entering green energy era

World getting into a extremely disruptive inexperienced vitality period, says Mukesh Ambani

Reliance Industries (RIL’s) annual report launched on Sunday highlighted the corporate’s deal with new vitality options, with Chairman and Managing Director (MD) Mukesh Ambani stating that the age of fossil fuels is not going to conti­nue for much longer. RIL has sought shareholders’ approval to present Ambani one other five-year time period as MD until 2029 at nil wage. The not too long ago demerged Jio Monetary Companies, which “will leverage the prowess of digital and retail businesses”, was anticipated to be listed quickly. Learn extra

Q1 outcomes: India Inc revenue surges 65% however reveals lopsided progress

There was a pointy restoration within the headline company earnings within the April-June 2023 quarter (Q1FY24), after a dismal displaying by early chicken firms. The mixed web revenue of the 983 listed firms which have declared their quarterly outcomes, to this point, was up 64.7 per cent year-on-year to file a excessive of Rs 2.68 trillion within the first quarter, however progress in earnings remained lopsided as a result of many of the incremental positive factors got here from a handful of firms. Learn extra

Curbs on PC, laptop computer imports: 3-month breather set to gentle up Diwali season

Unique tools producers (OEMs) heaved a sigh of reduction after the federal government determined to delay the licensing mandate for the import of private computer systems by practically three months. With this, import restrictions will not be anticipated to dampen PC (together with laptops, desktops, notebooks, and workstations) shipments forward of the upcoming pageant season. The licensing mandate for imports of PCs is now efficient from November 1. Nonetheless, the federal government’s transfer will improve the compliance burden on authentic tools producers, affecting sure firms greater than others. Learn extra

Surging costs: Indian refiners push the envelope on Russia crude oil

Indian refiners are involved after the European benchmark Brent crude rose to the very best degree since mid-April, marching in direction of $90 a barrel. The rise in Brent costs and the output lower by Moscow this month have made Russian Urals crude costlier, complicating issues for Indian importers, led by Indian Oil and Reliance Industries. Learn extra

No finish in sight? Meals value hike prone to disturb India’s inflation maths

Costs of nearly all of meals gadgets, led by tomatoes and different greens, have been on an upward trajectory for the reason that previous few months. Incessant rains in main rising areas in July, that inundated fields and broken standing crops, affected vegetable provides within the city and semi-urban areas. Learn extra

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