Core sector contraction widens to 2.5%

Oct. output at 8 key industries dragged down as steel production shrinks again; cement posts growth Output at India’s eight core sectors shrank 2.5% in October with the contraction widening from September’s revised 0.1% decline as steel production slid again after a brief revival in the preceding month. Steel output, […]

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BPCL gets 3-4 bids; Reliance skips, no big players in race

‘Multiple’ expressions of interest received, tweets FM The government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL. However, billionaire Mukesh Ambani’s Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department […]

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Offshore oil workers flee as Zeta heads toward Gulf of Mexico rigs

Texas oil refineries are ‘built to withstand’ hurricanes: American Petroleum Institute CEO American Petroleum Institute President and CEO Mike Sommers argues the oil industry in Texas and other Hurricane Laura-hit states have avoided major damage because the industry prepares for natural disasters like this. Oil producers on Monday were evacuating […]

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Flipkart to buy ₹1,500-cr. stake in Birla fashion arm

Aditya Birla Fashion board okays deal Walmart’s Flipkart is set to acquire a 7.8% stake in Aditya Birla Fashion and Retail Ltd. (ABFRL) for ₹1,500 crore, intensifying the battle in fashion e-commerce with Amazon.com and Reliance Industries’ retail arm. The ABFRL board had approved a proposal to raise ₹1,500 crore […]

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Infosys’s net jumps 21%, guidance raised

Company expects annual revenue to climb 2-3%; to award promotions, increments, incentives in Jan. Infosys on Wednesday reported second-quarter net profit jumped 20.5% from a year earlier to ₹4,845 crore, helped by better margins. The information technology services provider also raised revenue growth estimates to 2-3% for the full year. […]

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