Highlights of the Day: IIP grows 5.7% in February, retail inflation falls to 4.85% in March

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Retail inflation has declined to 4.85% in March against 5.09% in February, reveals official data. Industrial production has grown 5.7% in February against 6% expansion a year ago, reveals data.

The Reserve Bank of India announced today that India's forex reserves rose by $2.98 billion to attain a fresh peak of $648.56 billion.

Bharat Rashtra Samithi (BRS) MLC K Kavitha has been sent to custody of the Central Bureau of Investigation (CBI) for three days. - She was arrested by Enforcement Directorate in March in connection with the alleged Delhi liquor policy scam. Kavitha, former Telangana Chief Minister K Chandrasekhar Rao's daughter, is accused of being part of a 'south group' that paid crores as bribes to Aam Aadmi Party for liquor licences in the national capital. 

The consolidated net profit of Tata Consultancy Services (TCS) for the fourth quarter of the current financial year (Q4FY24) rose by  9.14 per cent to Rs 12,434 crore, compared to Rs 11,392 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Taking on the BJP for claiming that West Bengal has become a safe haven for terrorists, Chief Minister Mamata Banerjee today said the accused in the Bengaluru blast case were arrested because of the state police's prompt action."Heard one BJP leader saying that Bengal is not safe. The accused were arrested within two hours following a prompt response by police. What about the states where you are in power?" she said at a rally in Cooch Behar.

A Delhi Court on Friday reserved for later in the day its order on the CBI's plea seeking five-day custody of BRS leader K Kavitha, arrested in connection with a corruption case linked to the alleged Delhi excise policy scam. On April 11, Bharat Rashtra Samithi (BRS) leader K Kavitha was arrested by Central Bureau of Investigation inside Tihar jail. The arrest came days after the CBI questioned her in jail, where she is in judicial custody.

AAP leader and Delhi minister Atishi today claimed that a conspiracy is being hatched to impose President's rule in Delhi, adding that imposing it will be against the mandate of the people.

Responding to Opposition's claim that the BJP-led government at the Centre had abused the power of agencies to get Delhi Chief Minister Arvind Kejriwal arrested, Defence Minister Rajnath Singh asked why courts didn't grant relief to the Aam Aadmi Party (AAP) chief. "Even if it is assumed that Arvind Kejriwal went to jail because of us, why is he not getting relief? Have we taken control of the courts also? What are these people trying to say? Let them have the audacity to say we have captured courts also...is it possible?" Rajnath Singh said in an interview to new agency ANI.

Following the orders of a court in Uttarakhand's Almora town, an FIR has been filed against Delhi Chief Secretary Naresh Kumar and his subordinate YVVJ Rajasekhar. The court admitted a complaint by an NGO, Pleasant Valley Foundation, against the officials and directed the revenue police to file a case against them and investigate the charges on March 2. According to the Pleasant Valley Foundation, the officials sent four people to a school run by the NGO in Dadakada village on February 14. Kumar and Rajasekhar allegedly threatened to frame the NGO's officials if complaints of corruption filed by it against them with the Vigilance department and other forums were not immediately withdrawn, the complainant stated. The case against the officials was recorded by the revenue police sub-inspector of Govindpur on the orders of Almora's chief judicial magistrate, Almora's District Magistrate Vinit Tomar said.

As a part of its training exercise, the Trishakti Corps of the Indian Army fired anti-tank guided missiles (ATGMs) at a super high-altitude area of 17,000 feet in Sikkim on Thursday, Defence PRO, Guwahati said. The exercise included comprehensive continuity training and live firing from different platforms on moving as well as static targets depicting battlefield conditions.  Mechanised and infantry units of the entire Eastern Command participated in the training exercise.
AAP leader and Delhi minister Atishi today claimed that a conspiracy is being hatched to impose President's rule in Delhi, adding that imposing it will be against mandate of the people.

9:52 PM

Thai foreign minister urges Myanmar's military to avoid violent attack on border town its army lost

Thailand's foreign minister on Friday said he urged Myanmar's military authorities not to violently respond to its army's loss of an important border trading town to its opponents, and that so far they seemed to be exercising restraint. Parnpree Bahiddha-Nukara spoke during a visit to Mae Sot, which lies directly across a river from Myanmar's Myawaddy, where army troops abandoned their last defensive position early Thursday. Their hasty escape ceded virtual control of the busy trading town to guerrillas of the ethnic Karen National Union and its allies, including members of the pro-democracy People's Defense Forces. Myanmar's once-mighty armed forces have suffered a series of unprecedented defeats since last October, losing swathes of territory including border posts to both ethnic fighters and guerrilla units. Civilians took up arms after the generals seized power in 2021 from the elected government of Aung San Suu Kyi. The military has frequently hit back heavily, using air power.

8:10 PM

Court acquits Dawood's nephew, two others in 2019 extortion case

A special court here on Friday acquitted fugitive don Dawood Ibrahim's nephew and two others who were booked under the stringent Maharashtra Control of Organised Crime Act (MCOCA) in a 2019 extortion case. Special judge B D Shelke acquitted the gangster's nephew Mohammed Rizwan Shaikh Ibrahim (Kaskar), Ahmedraja Vadhariya and Ashfaq Towelwala of charges under sections 387 (putting persons in fear of death or of grievous hurt to commit extortion), 120 (criminal conspiracy) and relevant provisions of the MCOCA. A case was registered against the trio in 2019 for allegedly threatening a builder. The builder, who also had a business importing electronic goods, had alleged that his business partner owed him Rs 15 lakh and in June 2019, he received an international call made on behalf of gangster Chhota Shakeel through gang member Fahim Machmach not to insist on the payment. The prosecution argued that sufficient material was found against all the accused, particularly, the phone call recording and CDRs.

7:11 PM

Ganga pollution in Varanasi: NGT fines chief environmental officer of Uttar Pradesh

The chief environment officer of Uttar Pradesh has been imposed a cost of Rs 10,000 for not complying with the tribunal's order directing levying environmental compensation on people and entities polluting river Ganga in Varanasi. The NGT was hearing a case regarding the discharge of domestic and industrial wastewater into the river across various locations in the eastern Uttar Pradesh city, thronged by devotees and tourists.

6:48 PM

India commands over 50% of Global Capability Centres: Report

India commands over 50 per cent of the Global Capability Centres, and it remains the most preferred destination to set up such GCCs, a report by business consulting company ANSR said on Friday. ANSR Global is a consulting firm that enables organisations to build and manage teams through Global Capability Centres. The company has established over 110 Global Capability Centres, using 12 million sq ft of office space and employs over 1.20 lakh people. According to the quarterly report released on Friday, India commands over 50 per cent of the GCC market with a mix of unique talent and a robust startup system, and the country remains the most preferred destination to set up a GCC. The study also revealed that nearly 80 per cent of GCCs were directing their focus on Artificial Intelligence, Machine Learning, and Data Analytics.

5:18 PM

India's forex reserves reach fresh peak of $648.56 billion: RBI

The Reserve Bank of India (RBI) said today that India's forex reserves rose by $2.98 billion to hit a fresh peak of $648.56 billion.

5:06 PM

Appellate court can't overturn acquittal only on ground that another view is possible, says Supreme Court

The top court has stated the appellate court cannot overturn the order of acquittal only on the ground that another view is possible. A bench of justices Abhay S Oka and Ujjal Bhuyan said unless the appellate court records a finding that the judgment of acquittal is perverse, no interference can be made. The apex court made these observations while deciding an appeal in a murder case, where the order of acquittal of the trial court was overturned by the high court.

4:46 PM

We are closely monitoring security situation in Myanmar, particularly in Rakhine state, says MEA

"The situation in Myanmar remains precarious and deteriorating. We have relocated our Embassy staff from Sittwe to Yangon. (Indian) Consulate in Mandalay remains functional," Randhir Jaiswal,  spokesperson for the MEA, said today.

4:25 PM

Delhi court sends BRS leader K Kavitha to CBI custody till April 15 in Delhi liquor policy case

K Kavitha, who is already in Tihar Jail after her arrest by the Enforcement Directorate (ED) in the liquor policy case, was arrested by the CBI on Thursday.

4:11 PM

TCS stock gained 6% so far in 2024, IT index shed 1.4%.

TCS's shares have rose about 6 per cent so far this year, whereas the broader IT index has shed 1.4%. The blue-chip Nifty 50 index rose by 3.6% in 2024.

4:08 PM

TCS registers revenue of Rs 61,237 crore in Q4

TCS revenue grew 3.5 per cent to Rs 61,237 crore in Q4. TCS had reported a net profit of Rs 11,392 crore in the year-ago period. The IT industry has had to accept tougher contract terms to secure large orders as they compete for fewer orders. IT firms also had to deal with with clients renegotiating, delaying or cancelling contracts, resulting in a sharp slowdown in the industry's growth from the pandemic-fuelled boom a few years back.

4:02 PM

TCS revenue up 3.5%; firm sees record deal wins

Industry body Nasscom sees the IT sector's overall revenue growth to more than halve to 3.8% from 8.4%. However, like its peers, TCS has been managing expenses to compensate for the slowing revenue growth. That helped its net profit increase 9.2% to Rs 12,434 crore in the latest quarter.

3:55 PM

TCS Q4 net profit rises 9% to Rs 12,434 crore, beats estimates

IT major TCS stated consolidated revenue rose 3.5 per cent to $7.34 billion in the January-March quarter, missing analysts' expectation, according to LSEG data.

3:50 PM

MC Mary Kom steps down as chef-de-mission of India's Paris Olympics contingent

Celebrated boxer MC Mary Kom has quit as India's chef-de-mission for Olympics citing personal reasons. Embarrassing to retreat from a commitment, but I am left with no choice, Kom said today.

3:25 PM

Foreign Secretary Vinay Kwatra holds talks with senior US officials on defence, technology

Foreign Secretary Vinay Kwatra is in Washington this week for a series of meetings with senior officials from the US Government and interaction with industry leaders. Kwatra held separate meetings with Richard Verma, Deputy Secretary of State for Management and Resources and Kurt Campbell, Deputy Secretary of State at the Foggy Bottom headquarters of the State Department. The two sides hope to advance cooperation in areas like defence and technology.

 

3:20 PM

Russia-Ukraine war update: Key power plant near Kyiv destroyed by Russian strikes

A massive missile and drone attack destroyed one of Ukraine's largest power plants and damaged others, officials said Thursday. The Trypilska plant, which was the biggest energy supplier for the Kyiv, Cherkasy and Zhytomyr regions, was struck numerous times, destroying the transformer, turbines and generators and leaving the plant ablaz