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

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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