Top headlines: Organised sector employment up in Q1; RIL eyes Glance

Business Standard brings you the top headlines on Monday

Organised sector weathers second Covid wave on job front: Labour survey

Employment in nine selected sectors, including construction, manufacturing and IT/BPO, was at 30.8 million in the April-June quarter of 2021-22, reflecting a growth of 29 per cent compared to 23.7 million reported in the Economic Census of 2013-14, according to a survey.

Labour and Employment Minister Bhupender Yadav on Monday released the report of Quarterly Employment Survey (QES) part (April to June 2021), of the All-India Quarterly Establishment-based Employment Survey (AQEES) prepared by the Labour Bureau. Read more

Reliance said to near investment in Google-backed Glance InMobi: Report

Reliance Industries Ltd. is in talks to buy a stake in Indian mobile content provider Glance InMobi Pte, according to people familiar with the matter.

The conglomerate is considering investing about $300 million in the unicorn backed by Alphabet Inc.’s Google, the people said, asking not to be identified as the information is private. The transaction could be completed as soon as in the next few weeks, one of the people said. Read more

Govt intends to complete BPCL disinvestment by March-end: Company chairman

The disinvestment of Bharat Petroleum Corporation (BPCL) is intended to be completed by March 2022 according to company Chairman, Arun Kumar Singh.

Speaking at a press conference after the Annual General Meeting of the company on Monday, Singh said, “The government at many forums and instances has said that it intends to complete the transaction within this financial year, this means by March 2022. So as of now, stated position is March.” He was responding to a query on when will the disinvestment of BPCL be complete. Read more

Toyota Kirloskar pulls plug on Yaris sedan after three years as sales dip

Toyota Kirloskar Motor (TKM) will stop making the Yaris with effect from Monday, amid falling sales and shifting buyer preferences from sedans to SUVs. The local arm of the Japanese carmaker had launched the premium mid-size sedan three years ago to take on the likes of Honda City, Hyundai Verna among others.

The phase-out of the Yaris is also part of the larger global strategy under which Toyota Motor Co and Suzuki Motor Corp have been sharing products for India and neighboring markets. Read more