Top stories from the world of business and economy.
The anonymous employee group, which has accused Infosys CEO Salil Parekh and CFO Nilanjan Roy of indulging in unethical practices, has claimed that they have emails and voice recordings to back their claims. Net employment creation in the formal sector stood at 10.86 lakh in August 2019, according to the latest Employees' Provident Fund Organisation payroll data. Ultratech Cement reported a 72.3 per cent y-o-y rise in profit after tax at Rs 639.20 crore for the second quarter ended September 30, 2019. Read for more top stories from the world of business and economy:
Since September 2017, 1.23 crore jobs have been created. Out of which, 15.53 lakh jobs were created in between September 2017 to March 2018. A total of 61.12 lakh jobs were created in FY19. In the current fiscal 47.3 lakh jobs have been created.
Given that Vedanta's Tuticorin copper smelter plant produced about 40% of India's copper output, its closure caused output to dip 46% in the last fiscal, forcing the country to turn a net importer of the metal. India used to be a net exporter of copper cathodes till FY18.
The retail arm of the Mukesh Ambani-led Reliance Industries has signed an exclusive 10-year brand licensing, manufacturing, marketing and distribution deal for the consumer durables brand with its owner, Swedish appliance maker Electrolux.