Business

Reliance Industries Q2 net profit jumps 43% to Rs 13,680 crore

Reliance Industries Limited (RIL) on Friday posted a 43 per cent jump in its consolidated net profit for the second quarter (Q2) ending September 30. The company posted a net profit of Rs 13,680 crore in Q2 as against a profit of Rs 9,567 crore in the same period last year.

Investors' wealth erodes by Rs 10.29 lakh crore in 4 days

Investors have lost over Rs 10.29 lakh crore in four days of market decline, with risk appetite dented by concerns over frothy valuations amid unabated selling by FIIs.

RBI remains laser-focused to bring back inflation to 4%: Das

The Reserve Bank remains laser-focused to bring back retail inflation to 4 per cent over a period of time in a non-disruptive manner, governor Shaktikanta Das stressed while voting for status quo in interest rates, as per minutes of the October policy meeting released on Friday. The retail inflation, which was above 6 per cent during May and June, stood at 4.35 per cent in September.

‘India will act against unfair trade practices’

Industry: Non-tariff barriers must go: Goyal

IOC eyes full refinery run as fuel demand rebounds

Industry: ‘Petrol, LPG back to pre-COVID levels’

Mercedes to directly sell cars to clients

Industry: German luxury carmaker Mercedes-Benz on Friday implemented its customer-centric ‘Retail of the Future’ (ROTF) ‘direct- to- customers’ business model

JCB to begin operations at Vadodara unit in Q1 of 2022

Industry: Global demand for construction equipment increasing: MD

Wherever India faces unfair treatment at trade front, we will reciprocate: Piyush Goyal

Commerce and industry minister Piyush Goyal on Friday said there are a lot of non-tariff barriers that need to be addressed and wherever India will face an unfair treatment at trade front, it will take reciprocal action.

Petro taxes funding vaccines, welfare, says Union Minister Hardeep Puri

Economy: Minister slams ‘simplistic’ narrative on prices.

Top gas importer sees LNG price surge spurring long-term contracts

Surging liquefied natural gas (LNG) prices are pushing buyers to look at securing long-term contracts possibly with an option for a floor and ceiling price to hedge against extreme volatility, the CEO of a top gas importer said on Friday.

‘Energy transition poses inflation risks’

Business: ‘Green’ move risks energy price shocks; China financial sector adds tail risk to global growth: Varma

JCB to begin operations at Vadodara unit in Q1 of 2022

Business: Global demand for construction equipment increasing: MD

Fuji Silvertech plans ₹200-crore capex

Business: Fuji Silvertech Concrete Pvt. Ltd., a JV between Japan’s Fuji Concrete Industry Co. Ltd., and India’s Silvertech, which manufactures precast concrete

‘India will act against unfair trade practices’

Business: Non-tariff barriers must go: Goyal

Mercedes to directly sell cars to clients

Business: German luxury carmaker Mercedes-Benz on Friday implemented its customer-centric ‘Retail of the Future’ (ROTF) ‘direct- to- customers’ business model

Nykaa IPO to open on Oct 28; sets price band of Rs 1,085-1,125

FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, has fixed a price of Rs 1,085-1,125 a share for its Rs 5,352-crore initial public offering, which will open on October 28. The three-day initial public offering will conclude on November 1, according to the red herring prospectus (RHP).

'This story may not be over': Edward Rogers seeking to boot 5 members of Rogers board

News/Business: Despite being removed as chair of the company that bears his name, Edward Rogers is not giving up in his battle for control, and is looking to get rid of five members of the board.

Shareholders allow RIL to bring Aramco chief on board

'China Evergrande lines up funds to pay interest, avert default'

China Evergrande Group has supplied funds to pay interest on a US dollar bond, a person with direct knowledge of the matter told Reuters on Friday, days before a deadline that would have seen the developer plunge into formal default.

Teetering Chinese property giant Evergrande makes $83M payment to avoid default — for now

News/Business: China Evergrande Group appeared to have averted default with a last-minute bond coupon payment, a source said on Friday, buying it another week to deal with a debt crisis looming over the world's second-biggest economy.