ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
Items such as cereals and products, meat and fish, oils and fats became cheaper
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
From the protests in Belarus, to people in Beirut picking up the pieces after the deadly blast, to the Democratic National Convention held in Delaware in the United States, here are the top images from the week gone by.
Steps will be taken to attract external commercial borrowing and FDI in the education sector, the finance minister said. Stating that govt will soon introduce new education policy, Sitharaman said online degree courses to students from weaker sections.
Diversified group ITC will sell its entire stake in US-based wholly owned subsidiary 'King Maker Marketing' for USD 24 million (about Rs 160 crore).
The army rescue teams have been operating throughout the night along with the teams from civil defence, police and the NDRF, trying to remove the debris from the affected area.
Rediff.com brings you some of the highlights from the sporting events held last week...
Asian Games gold medallist Swapna Barman will receive seven pairs of customised shoes, one each for the different events of Heptathlon, sports giants Adidas announced on Monday.
The RLD has aligned with the Samajwadi Party and Bahujan Samaj Party in UP and is attacking the state government on farm distress and the outstanding sugarcane dues.
Pakistan will buy sugar and cotton from India, newly appointed Finance Minister Hammad Azhar announced on Wednesday, lifting a ban on their import from the neighbouring country imposed in the wake of heightened tension over Kashmir in 2019. The decision was taken at the meeting of the economic coordination committee (ECC), which was chaired by Finance Minister Azhar.
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'They are starting to move more quickly and we would just like to continue to see bold action being taken.'
Images from India's practice session at the Eden Gardens, ahead of the third and final T20 against South Africa.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
The relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
Thousands and thousands of protesters, many of them students who skipped school, have gathered in cities across the world kicking off a day of worldwide protests calling for action against climate change ahead of a United Nations summit. From the Pacific Islands to Australia and India, protesters took to the streets on Friday, demanding their governments take urgent steps to tackle the climate crisis and prevent an environmental catastrophe. Greta Thunberg, the 16-year-old Swede who inspired the climate strike, tweeted her support. Check out photos from all over the world.
Many others are feared to have been trapped under the debris. Rescue work is on, as per last reports.
In terms of industries, 22 out of 23 industry groups in the manufacturing sector showed positive growth during July 2018.
In photos: Her best off-screen desi looks and the designers who got it right.
Here's a recap of moments captured in India in the past 48 hours.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
High inflation print is the price that the Reserve Bank of India (RBI) will have to pay to nurse a fragile growth back, say economists. Wholesale Price Index-based inflation rose to a record high of 12.94 per cent in May, aided by low base effect, but also because of higher fuel and commodity prices. Retail inflation, too, surprised by rising to 6.30 per cent, while the core inflation, which is the non-food and non-fuel component, rose to an 83-month high of 6.55 per cent. These numbers are much above RBI's upper limit of 6 per cent inflation target, but there is very little that the RBI can do at this moment.
IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely
Interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from May 10, 2019: SBI
Mapping all its 13 lakh employees and identifying potential quarantine facilities for each of them is part of the protocol drafted by Central Railway to insulate its staffers from Covid-19. The document, 'Rail Pariwar Dekh Rekh Muhim' (drive to take care of the railway family)' lists a series of steps to be followed by zonal railways to keep employees safe.
Thirteen years after their small car project was forced out of West Bengal following the anti-land acquisition movement in Singur, Industry and IT Minister Partha Chatterjee has said talks are on with the Tatas for big-ticket investments in the state. Underscoring job creation as the TMC government's top priority, Chatterjee also said incentives to companies will depend on ability to generate employment. He said the Mamata Banerjee dispensation wants two large manufacturing units to be set up by any prominent industrial house at the earliest. "We never had any enmity with the Tatas, neither we fought against them. "They are one of the most respected and biggest business houses of this country and also abroad. "You can't blame the Tatas (for the Singur fiasco).
Promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, amounting to a total of Rs 18,250 crore, as part of the Rs 25,000-crore rights issue.
All the four teams in the men's and women's ICC World Twenty20 finals Sunday are expected to wear black armbands as a mark of respect to the families of the victims of the horrifying flyover tragedy that took away lives of 24 people. "We have requested the teams to wear black arm-bands," former India captain and Cricket Association of Bengal president Sourav Ganguly told reporters. Till now 24 people have been killed and several others critically injured after an under construction flyover collapse in North Kolkata near Ganesh Talkies.
Rough estimates from plantation companies have pegged production loss in excess of 100 million kg (mkg) across India which is valued at around Rs 2000 crore. Usually, plantation companies in Assam and West Bengal produce around 15 per cent of the total tea during March-April.
The bigger threat for DMart is that the Reliance-Future combine now has grocery revenues that are nearly 2.5 times of it, putting pressure on the former to improve stickiness of its consumers.
'In the total of black wealth, only 1% or less than 1% constitute cash.' 'So, even if cash is completely weaned out, it impacts only 1% of the black wealth.'
Oil demand had plunged 5.9 per cent in January, the most in 13 years, after the shock demonetisation of high-value currency notes in November
There was a worry that such a policy would hamper businesses, create resentment among the male staff and perhaps also discourage companies from employing women. However, this has proved to be misplaced.
The company, which has a subscriber base of 120 million, also plans to raise funds via a bonds issue. The company's impending 4G launch is also expected in the second half of the current financial year for which it would invest Rs 12,000 crore, partly through bonds.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
The economic survey for 2020-21 has suggested revision in the weightage of food items to gauge the true picture of inflation in the country, and said new sources of price data also need to be incorporated in the wake of increasing retail e-commerce transactions. As per the survey, the current spike in consumer price-based retail inflation of food prices is mainly a supply-side phenomenon. The survey noted that the weights of all items in retail inflation are based on the NSO household consumption expenditure survey of 2011-12, adding the weight of food items in the index might have significantly decreased over the decade since then.
Want to catch up on all that happened across the world in the week gone by? Here are 10 images that says it all.
The police lodged a suo motu case against unknown persons in connection with their involvement in the mishap, a police officer said.
Tea estates across Assam and West Bengal, which were hitherto closed owing to the lockdown, opened in April.
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