Key News
Vedantu lays off another 424 employees, blames 'scarce capital'
Vedantu laid off 424 employees, or 7 per cent of the workforce on May 18, said the ed-tech firm days after announcing it had let go of another 200 people. “War in Europe, impending recession fears, and Fed rate interest hikes have led to inflationary pressures with massive correction in stocks globally and in India as well. Given this environment, capital will be scarce for upcoming quarters," s...
Key News - Vedantu, Sun Pharma, InterGlobe Aviation, Ruchi Soya, Walmart By ARETE Securities
KeyNews
IOC, BPCL, HPCL lost $2.25 bn in revenue due to fuel price freeze: Moody's
India's top fuel retailers IOC, BPCL and HPCL have together lost around USD 2.25 billion (Rs 19,000 crore) in revenue in March by keeping petrol and diesel prices unchanged despite a sharp rise in crude oil prices, Moody's Investors Service said on Thursday.
Petrol and diesel prices remained unchanged between November 4, 2021, and March 21 despite prices of crude oil (raw material for produ...
Key News - Invesco Asset Management (India) Pvt. Ltd, Ruchi Soya,Adani Ports & SEZ, By ARETE Securities