Saturday, August 13, 2022
HomeMoney & LoansTop headlines: Retail inflation eases to 7.01% in June; May IIP grows...

Top headlines: Retail inflation eases to 7.01% in June; May IIP grows 19.6%

Retail inflation marginally eases to 7.01% in June; IIP grows 19.6% in May

India’s retail inflation marginally eased in June to 7.01%, but stayed well above the Reserve Bank of India’s tolerance limit for sixth consecutive month as lower fuel and cooking oil prices offset higher services and food costs, showed government data on Tuesday.

On the other hand, industrial production growth zoomed to 19.6% in May, as per the National Statistical Office (NSO) data.

The Index of Industrial Production (IIP) had grown 7.1% in April this year after remaining subdued for the preceding seven months. Read more

HCL Tech Q1 net profit falls 9% sequentially to Rs 3,281 cr; revenue up 4%

IT services major HCL Technologies on Tuesday reported 9% sequential decline in consolidated net profit at Rs 3,281 crore for the quarter ending June 2022. It reported consolidated net profit of Rs 3,599 crore in the previous quarter.

The company’s consolidated revenue grew 4% sequentially at Rs 23,464 crore in the June quarter. Read more

9th incident in 24 days: SpiceJet flight delayed as nose wheel malfunctions

SpiceJet’s Dubai-Madurai flight was delayed on Monday after the Boeing B737 Max aircraft’s nose wheel malfunctioned, Directorate General of Civil Aviation officials said.

Monday’s incident is at least the ninth incident of technical malfunction in a SpiceJet aircraft in 24 days. Read more

Euro teeters near parity versus US dollar, hits new two-decade low

The euro fell on Tuesday almost to parity with the dollar, a threshold not crossed for two decades, weighed down by the likelihood of recession triggered by an energy crunch and an ECB rate rise campaign that lags far behind that of the Fed.

The dollar index, a measure against six counterparts, with the euro most heavily weighted, was 0.2% higher at 108.43. It had earlier climbed to 108.47, its highest since October 2002. Read more

mail Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

%d bloggers like this: