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Here are the top stories to start your day.
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⭐ Adani Wilmar profit surges
Edible oil maker Adani Wilmar reported a 30% year-on-year (YoY) rise in its Q1 revenue to ₹14,783 crore. Meanwhile, its net profit grew by 10% to ₹193 crore. Despite inflation, the company witnessed a steady growth in overall volumes, led by its foods business.
⭐ Vodafone Idea’s losses narrow
Telecom operator Vodafone Idea narrowed its loss marginally to ₹7,296 crore as compared to ₹7,319 crore in the year ago period. Meanwhile, the company's revenue from operations rose 14% YoY to ₹10,410 crore. Average revenue per user (ARPU) jumped to ₹128 from ₹104, supported by tariff hikes. The company also said it has acquired sufficient 5G spectrum to offer superior experience to their customers.
⭐ Sugarcane prices to be hiked
The Cabinet Committee on Economic Affairs (CCEA) has approved the fair and remunerative price (FRP) of sugarcane at ₹305 per quintal for sugar marketing year 2022-23. The decision will benefit 5 crore sugarcane farmers and their dependents. FRP of sugarcane is fixed to ensure a guaranteed price to sugarcane growers.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.26% |
| Nikkei 225 (Japan) | ▲ 0.54% |
| Hang Seng (Hong Kong) | ▲ 2.06% |
| SSE Composite (China) | ▲ 0.67% |
| Dow Jones (US) (August 03) | ▲ 1.29% |
| NYSE (US) (August 03) | ▲ 0.81% |
| Nasdaq (US) (August 03) | ▲ 2.59% |
| S&P 500 (US) (August 03) | ▲ 1.56% |
Fact of the day
Life insurance giant LIC with a revenue of $97.26 billion and profit of $553.8 million is ranked 98th on the Fortune Global 500 list.
Source: NDTV