JV with BP: BP and RIL signed a definitive agreement relating to the formation of new Indian fuels and mobility joint venture. The venture is expected to be formed during the first half of 2020, subject to regulatory and other customary approvals. The venture expects to expand from RIL’s current fuel retailing network of over 1,400 retail sites and 30 aviation fuel stations across India to up to 5,500 retail sites and 45 aviation fuel stations over the next five years to become the most preferred provider of automotive and aviation fuels. The retail network will operate under the Jio-BP brand. … [Read more...] about RIL Q3: Highest-ever quarterly net profit; here are 10 key takeaways
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The investment manager, on behalf of InvIT and REIT need to announce the record date to stock exchange at least three working days (excluding the date of intimation and the record date) prior to the record date. InvIT and REIT will not withdraw its rights issue after announcement of the record date. … [Read more...] about SEBI puts in place guidelines for listed REIT, InvIT on rights issue
DRG caters to the information needs of pharmaceutical, insurance and hospitals, had contributed Rs 1330.74 crore or about 10 percent of Piramal’s consolidated revenue of 13,215 crore. Around 53 percent of Piramal revenues came from financial services. Piramal has a loan book of Rs 53,055 core as of September 2019. … [Read more...] about Piramal to use proceeds of DRG sale to grow financial services biz
Moreover, cognitive business operations continued to see strong growth in managed hybrid cloud services. "TCS' new operating models leveraging service reliability engineering, AIOps powered by ignio™ and Agile are seeing strong traction. The Q3 order book was the strongest in the last several quarters," the company said. … [Read more...] about TCS Q3: CC revenue growth slows further, but margin improves; key takeaways
What does stagflation mean?Stagflation is a condition of slow economic growth and relatively high unemployment, accompanied by rising prices. It can also be defined as inflation and declining gross domestic product (GDP).The government estimates GDP to grow at 5 percent in FY20, a sharp drop from the 6.8 percent recorded in FY19. In the quarter that ended on September 30, 2019, GDP growth stood at 4.5 percent. … [Read more...] about Is high retail inflation in India hinting at stagflation?