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Moondra will be cash-strapped Vodafone Idea’s third CEO since the merger of Vodafone India and Idea Cellular in August 2018, which created what was then India’s largest telco by subscriber and revenue market share. Balesh Sharma became its first CEO after the merger, followed by Takkar who took charge in August 2019 for a three-year term.

The Oil-to-Chemicals (O2C) business segment that contributes nearly two-thirds of total revenue benefited from a sharp surge in gross refining margins (GRM) - the difference between the total value of petroleum products coming out of an oil refinery and the price of the raw material.

Crude oil prices have slipped in the past two weeks and if they fall this week, it will be the third weekly drop -- the longest run of declines this year -- primarily due to fears that a global slowdown may dampen demand for fuels.

During the reporting week ended July 15, the fall in the reserves was on account of a decline in the Foreign Currency Assets (FCAs), a major component of the overall reserves, and also in the gold reserves, the central bank said.

Top carriers — Rel Jio, Airtel and Voda Idea — are set to participate in the auction, while a new entrant, Adani Data Networks, will also bid for some 5G airwaves, largely for captive private usage. Airtel added 21.5 mn 4G subscribers in 2021-22 to cross the 200-mn 4G smartphone customer threshold, which played out as the newly acquired spectrum was fired up during the year

When Soota turns 80 in November, Happiest Health will be a rare Indian technology startup with an octogenarian founder.

The consolidated revenues from contracts with customers of the company grew 34.5 per cent to Rs 328.92 crore during the quarter under review.

The company reported a profit before tax (PBT) of Rs 50.8 crore compared to a loss of Rs.2.6 crore in the same period last year and a PBT Rs 52.4 crore in the Jan-March quarter of the last fiscal year. In the first quarter of this fiscal year, the company considered a share-based compensation charge of Rs 6 crore, excluding which the profit before tax was Rs 56.8 crore.

They expect the Federal Open Market Committee to lift rates by a half percentage point in September, then shift to quarter-point hikes at the remaining two meetings of the year. That would lift the upper range of the central bank’s policy target to 3.5% by the end of 2022, the highest level since early 2008.

Pinterest Inc plunged 7.5%, Facebook-owner Meta Platforms Inc dropped 4.6%, Google-owner Alphabet Inc, which also sells ads online, fell 2.1%.At current prices Pinterest, Meta, Alphabet and Snap were collectively set to lose about $36 billion in market value.