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Biz EOD: RIL posts highest Q3 profit; Sensex, Nifty hit all-time highs; power demand grows in Dec

BusinessToday.In     January 17, 2020

India's most valuable company Reliance Industries Ltd (RIL) reported a 13.5 per cent rise in its net profit for the quarter ended December 31. Sensex hit a fresh all-time high of 42,063 in early trade on Friday amid higher Asian markets after China reported 6.1% economic growth in 2019. Breaking the six-month spell, electricity generation from conventional power plants grew 5.4 per cent on a month-on-month basis in December 2019. Read for more top stories from the world of business and economy:

1. Reliance Industries posts record Q3 profit at Rs 11,640 crore; revenue down 1.4%

This is the highest quarterly net profit earned by any private company, surpassing its own previous best of Rs 11,262 crore in the July-September 2019 period.

2. TCS reports Q3 net profit of Rs 8,118 crore; revenue up 6.7%

TCS' Q3 revenue grows 6.7% to Rs 39,854 crore as compared to Rs 37,338 crore in the December 2018 quarter; TCS also declares its third interim dividend of Rs 5 per equity share of Re 1 each.

3. Sensex hits all-time high of 42,063, Nifty at 12,385: 10 things to know about the rally

Sensex hits all-time high: Bharti Airtel (6%), Reliance Industries (2.20%) and Hero MotoCorp (1.29%) were the top Sensex gainers.

4. Finally, power demand grows in December after six months of decline

Electricity generation from conventional power plants, which include thermal, hydel and nuclear, grew 5.4% on a month-on-month (m-o-m) basis in December 2019.

5. China's biggest SUV maker Great Wall Motor to buy General Motors' India plant for $300 million

The deal will give a jumpstart to Great Wall's plans to build and sell cars in India and is likely to pave the way for GM's exit from manufacturing cars in the country.

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