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Business highlights

·4-min read

New Delhi, June 24 (PTI) Following are the top business stories at 1940 hours: DEL71 BIZ-GST-NAA-PRICE CUT NAA nudges GST officers to collect evidence against suppliers not cutting prices of COVID essentials New Delhi: Within a fortnight of GST rate cut on COVID-19 essentials, including medicines and oxygen, the GST anti-profiteering authority has urged field tax officers to collect evidence against suppliers who have not reduced prices.

DEL64 BIZ-CEA-INFLATION CEA expects food inflation to ease with unlock, good monsoon New Delhi: Attributing the rise in food prices to restrictions imposed by several states during April-May to deal with the second wave of COVID-19, Chief Economic Adviser K V Subramanian said food inflation is likely to moderate on account of the twin impact of opening up of economic activities and good monsoon.

DEL61 BIZ-LD RELIANCE-AMBANI-CLEAN ENERGY Reliance to invest Rs 75,000 cr in new energy business Mumbai: Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version.

DEL59 BIZ-LD STOCKS Benchmarks resume upward march as IT stocks rally; RIL tanks post AGM Mumbai: Equity indices regained footing on Thursday after a day's pause as robust buying in IT counters more than made up for a fall in market major Reliance Industries.

DEL60 BIZ-JIO-LD GOOGLE AFFORDABLE SMARTPHONE JioPhone Next, co-developed with Google, to be most affordable smartphone globally: Ambani New Delhi: Reliance Industries Chairman Mukesh Ambani on Thursday said Jio and Google have jointly developed a power-packed and affordable smartphone 'JioPhone Next', which will be available in the market from September 10.

DEL68 BIZ-LD RUPEE Rupee firms up by 9 paise at 74.18 against USD Mumbai: The Indian rupee rose for the second straight day and closed 9 paise higher at 74.18 against the US dollar on Thursday, tracking an upbeat domestic equity market.

DEL22 BIZ-PETROL-PRICE-HIKE Petrol nears Rs 99/litre in Chennai after rates hiked again New Delhi: Petrol price in Chennai neared the Rs 99-a-litre mark on Thursday after fuel prices were increased again on firming international oil rates.

DEL10 BIZ-S&P-INDIA GROWTH S&P cuts India's FY22 growth forecast to 9.5 pc New Delhi: S&P Global Ratings on Thursday cut India's growth forecast for the current fiscal to 9.5 per cent, from 11 per cent earlier, and warned of risk to the outlook from further waves of COVID pandemic.

DCM49 BIZ-SAT-CAIRN INDIA Share buyback case: SAT stays Sebi's penalties on Cairn India, others New Delhi: The Securities Appellant Tribunal (SAT) has stayed the penalties imposed by markets regulator Sebi on Cairn India and others for making a misleading announcement regarding buyback of shares in 2014.

DEL87 BIZ-INDIA-OPEC India presses OPEC for affordable oil price New Delhi: With domestic retail fuel prices jumping to record high on rising international oil rates, India on Thursday pressed oil cartel OPEC for 'affordable' oil price within a 'reasonable band' and that the producers should phase out production cuts.

DEL42 BIZ-GOLD-PRICE Gold falls Rs 93; silver gains Rs 99 New Delhi: Gold in the national capital on Thursday dipped by Rs 93 to Rs 46,283 per 10 grams amid rupee appreciation, according to HDFC Securities.

DCM21 BIZ-TELECOM-PLI Global electronics firms Foxconn, Flex, Jabil, Sanmina among 29 register under telecom PLI New Delhi: Global electronics manufacturing companies Foxconn, Flex, Jabil Circuit, Sanmina SCI are among 29 companies that have registered under the Rs 12,195 crore production linked incentive scheme for the telecom sector, according to an official source.

DCM35 BIZ-ROAD-QUALITY COMPLIANCE Officials of regional offices of road ministry, NHAI, NHIDCL to be responsible for non-compliance in quality measures New Delhi: Officers and engineers of regional offices of the road ministry, NHAI and National Highways and Infrastructure Development Corporation(NHIDCL) will be made responsible for non-compliance in quality control measures and specifications in construction of road and bridges on national highways, according to a circular. PTI SHW SHW

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