October 27, 2021

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RIL ‘regrets’ being dragged into Zee-Invesco controversy; IT majors post Q2 results and more



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Tech-major Infosys reported net profit at Rs 5,421 crore beating street expectations by over 3 percent. Reliance Industries on Wednesday said it regretted being drawn into the ongoing dispute between Zee Entertainment and Invesco, and that media reports around its offer for Zee were inaccurate. Prime Minister Narendra Modi launched a Rs 100 lakh crore national master plan for multi-modal connectivity that aims to develop infrastructure to reduce logistic costs and boost the economy. For all these stories and everything in between, here are some top news of the day

BUSINESS

Infosys net profit beats Street estimates

Tech-major Infosys reported net profit at Rs 5,421 crore beating street expectations by over 3 percent. Its revenue numbers met expectations while margins rose by 120 basis points.

Wipro profit rises 19% YoY

IT major Wipro reported a 19 percent jump in consolidated net profit to Rs 2,930 crore for the second quarter ended September 2021. Its revenue from operations increased by 30 percent to Rs 19,667 crore. Check out details

Had made a fair offer to Zee; never resort to hostile takeovers: Reliance Industries

Reliance Industries on Wednesday said it regretted being drawn into the ongoing dispute between Zee Entertainment and Invesco, and that media reports around its offer for Zee were inaccurate. Continue Reading

MARKETS

Tata Motors shares explode

The shares closed 20 percent higher, hit a 52-week high after the company announced US-based private equity major TPG Capital will invest Rs 7,500 crore in the company’s new electric vehicle subsidiary. Dig deeper

Reliance Industries shares jump on acquisition spree

The shares of Reliance Industries rose nearly one percent to hit an intraday high of Rs 2,677.55 after it announced two acquisitions Tuesday post market hours.

Sensex, Nifty close at record highs

The Indian equity benchmark indices scaled record highs during the session Wednesday and closed almost a percent higher led by buying across the sectors. The 30-scrip Sensex closed at a record high of 60,737, as it rose 488 points and the Nifty50 index surged 169 points to end at 18,161.

INDIA

Former PM Manmohan Singh admitted to AIIMS; Congress says ‘routine treatment’

Former Prime Minister Manmohan Singh was admitted to the All India Institute of Medical Sciences (AIIMS) on Wednesday evening after he complained of weakness following a fever. Continue reading

India to play key role in Joe Biden’s meet on ransomware attacks; all you need to know

India will be one of the countries leading discussions on measures to counter ransomware attacks at a meeting helmed by the Joe Biden administration. Continue Reading

PM Narendra Modi unveils GatiShakti National Master Plan to boost infrastructure

Prime Minister Narendra Modi on Wednesday launched a Rs 100 lakh crore national master plan for multi-modal connectivity that aims to develop infrastructure to reduce logistic costs and boost the economy. Continue Reading

WORLD

US becomes largest bitcoin mining centre as China ban bites

The United States has overtaken China to account for the largest share of the world’s bitcoin mining, data published on Wednesday by Britain’s Cambridge Centre for Alternative Finance showed. Continue Reading

Explained: Phthalates the ‘everywhere chemicals’ linked to 1 lakh early deaths in US every year

Often termed as “everywhere chemicals,” this group of toxins can be found in children’s toys, clothing, furniture, and food storage containers, the study published in the peer-reviewed journal Environmental Pollution said on October 12. Continue Reading

Why countries have different outcomes from similar vaccines

In countries like the UK, Denmark and Germany, COVID-19 deaths have fallen to below 10 percent of their previous peaks. But at the same time, nations like the US and Israel only saw a moderate decrease of less than 50 percent in death rates. Continue Reading

YOU & I 

Samsung Galaxy Watch Classic review: The Apple watch challenger, finally!

Apple Watch has been the undisputed king of smartwatches since its launch in 2015. But Samsung has been chipping away before even Apple started and its Tizen based Galaxy Watch line has been perhaps the most viable rival. Here’s why

September car sales: Maruti Alto tops, Kia Seltos at no. 3; check out top 10

The Indian auto sector is showing positive signs as the country is experiencing an overall economic recovery. Take a look at the most-sold car models in India, according to data compiled by AutoPunditz. Here’s a look

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