Top headlines: Retail inflation eases to 7.01% in June; May IIP grows 19.6%

Retail inflation marginally eases to 7.01% in June; IIP grows 19.6% in May

India's retail inflation marginally eased in June to 7.01%, but stayed well above the Reserve Bank of India's tolerance limit for sixth consecutive month as lower fuel and cooking oil prices offset higher services and food costs, showed government data on Tuesday.

On the other hand, industrial production growth zoomed to 19.6% in May, as per the National Statistical Office (NSO) data.

The Index of Industrial Production (IIP) had grown 7.1% in April this year after remaining subdued for the preceding seven months. Read more

HCL Tech Q1 net profit falls 9% sequentially to Rs 3,281 cr; revenue up 4%

IT services major HCL Technologies on Tuesday reported 9% sequential decline in consolidated net profit at Rs 3,281 crore for the quarter ending June 2022. It reported consolidated net profit of Rs 3,599 crore in the previous quarter.

The company's consolidated revenue grew 4% sequentially at Rs 23,464 crore in the June quarter. Read more

9th incident in 24 days: SpiceJet flight delayed as nose wheel malfunctions

SpiceJet's Dubai-Madurai flight was delayed on Monday after the Boeing B737 Max aircraft's nose wheel malfunctioned, Directorate General of Civil Aviation officials said.

Monday's incident is at least the ninth incident of technical malfunction in a SpiceJet aircraft in 24 days. Read more

Euro teeters near parity versus US dollar, hits new two-decade low

The euro fell on Tuesday almost to parity with the dollar, a threshold not crossed for two decades, weighed down by the likelihood of recession triggered by an energy crunch and an ECB rate rise campaign that lags far behind that of the Fed.

The dollar index, a measure against six counterparts, with the euro most heavily weighted, was 0.2% higher at 108.43. It had earlier climbed to 108.47, its highest since October 2002. Read more