Tata Chemicals’ profits surge

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⭐ Tata Chemicals’ profits surge 

For the September quarter, Tata Chemicals has reported a 40% year-on-year (YoY) rise in consolidated revenue from operations at ₹4,239 crore. Meanwhile, its net profit grew by 176% YoY to ₹685 crore. Efficient cost management and improved realisations aided the strong quarterly performance.

⭐ RBI calls for special MPC meeting

The Reserve Bank of India (RBI) has called for a special meeting of its Monetary Policy Committee (MPC) on 3 November 2022. MPC members were originally scheduled to meet on 7 December.   RBI’s announcement comes after the inflation rate for September rose to a five month high of 7.41% and was well-above the RBI’s target range of 2-6% for the three consecutive quarters. 

⭐ India-China trade crosses $100 billion

Bilateral trade between India and China continues to boom. In the first nine months of 2022, total bilateral trade went up by 14.6% YoY to $ 103.6 billion, crossing the $100 billion for the second straight year. China’s exports to India climbed to $89.6 billion, while exports from India stood at $13.9 billion, resulting in a trade deficit of over 75 billion.

Global markets (at 7:30 AM today)

Fact of the day

Reliance Industries became the first Indian firm to conduct its quarterly earnings call on the metaverse.

Source: Economic Times