New Delhi

HUL net up 9%, but market not happy

FMCG major Hindustan Unilever (HUL) on Thursday reported a 9 per cent increase in its net profit to Rs 1,444 crore for the December 2018 quarter on account of strong volume growth and improved margins.

The company's net profit stood at Rs 1,326 crore in the October-December period  of the previous fiscal.

Sales during the quarter under review stood at Rs 9,357 crore, up 12.42 per cent, as against Rs 8,323 crore in the corresponding period of the last fiscal, HUL said in a regulatory filing.

Rohingya families flee India after deportations

Hundreds of Rohingya Muslim families have left India for Bangladesh since seven Rohingya men were deported to their home country Myanmar in October, community leaders said on Thursday, and more were preparing to flee a crackdown.

Goyal offers to put in Rs 700 cr in Jet Airways

State Bank of India (SBI) on Thursday said the lenders are considering a resolution plan for Jet Airways to ensure the long-term viability of the debt-laden company even as its chief Naresh Goyal offered to invest up to Rs 700 crore in the beleagured airline on the condition that his stake does not fall below 25 per cent.

Gujarat cotton output may fall 48% this year

Gujarat may lose its position as the largest cotton producer this year as output of the natural fibre during 2018-19 is projected to fall nearly 48 per cent to 5.2 million bales (per bale of 170 kg) due to drought in most producing areas, said a senior official at the directorate of agriculture, Gujarat government.

“Groundnut output is also projected to be sharply lower compared to last year, as per the second advance estimates.

Adani Group forays into petchem sector

Gautam Adani-led Adani Group on Monday announced its foray into the rapidly growing petrochemical sector that will take competition head-on with country’s largest corporate Reliance Industries in its home turf in Gujarat.

Double-digit pay hike seen this year, highest in Asia

Employees in India can look forward to a double-digit salary growth in 2019.

According to global consulting firm Korn Ferry, thanks to the rapid economic growth, India continues to enjoy the highest overall salary increases and real-wage growth in Asia.

Salaries in India are expected to increase 10 per cent in 2019 as compared to 9 per cent last year and inflation-adjusted real-wage hikes are likely to rise to 5 per cent from 4.7 per cent in 2018, Korn Ferry says in a report released on Thursday.

Mukesh Ambani in top Global Thinkers list of Foreign Policy

Mukesh Ambani has featured in the top Global Thinkers 2019 ranking of the prestigious Foreign Policy publication alongside the likes of Alibaba founder Jack Ma, Amazon CEO Jeff Bezos and IMF head Christine Lagarde.

The publication on its website released a few of the names in the 2019 list of 100 Thinkers, saying the full list would be released on January 22.

Allocation of microwave spectrum doesn’t flout SC order: Manoj Sinha

Refuting strongly the allegation of giving away valuable telecom spectrum without auction and thereby defying the Supreme Court order, telecom minister Manoj Sinha on Wednesday said administrative allocation of microwave spectrum did not violate the apex court order as the order was only for access spectrum not backhaul like microwave and the entire process was done under TRAI recommendations.

CAIT urges govt not to make changes to FDI norms, probe e-comm firms’ biz

Traders' body CAIT on Wednesday urged the government not to accede to any demand by large e-commerce players or US associations for changes or delayed implementation of revised FDI norms for e-commerce alleging that these firms are lobbying hard and its time government should probe their business. CAIT will launch a nation-wide protest if the government accedes to the e-commerce player’s demand to change or delay the implementation of revised FDI norms for e-commerce.

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