Manufacturing firms log ‘softer contraction’ in sales at 4.3% in Q2: RBI

Demand conditions in the sector returned to the recovery mode with a softer contraction of 4.3 per cent (Y-o-Y) in the second quarter of this fiscal in terms of nominal sales after shrinking 41.1 per cent in the previous quarter that was hit by countrywide lockdowns due to COVID-19, according to RBI data.

The recovery was led by iron and steel, food products, cement, automobile and pharmaceuticals companies, showed the data on the performance of the private corporate sector during the second quarter of 2020-21.

companies reported sales of Rs 5,99,479 crore in the second quarter, compared to Rs 3,97,233 crore in April-June of FY 2020-21.

The data has been drawn from abridged quarterly financial results of 2,637 listed non-government non-financial (NGNF) companies, the RBI said.

Nominal sales of non-IT services sector also registered lower contraction of 14.5 per cent (Y-o-Y) led by expansion in sales of telecommunication and real estate companies.

Sales growth of IT sector companies remained steady at 3.6 per cent (Y-o-Y) in Q2 FY 2020-21.

As per the data, sales of non-IT firms and IT firms during

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DoT asks e-commerce sites to pull down listings of mobile signal boosters

With mobile network boosters becoming a major reason for poor service quality, the Department of Telecom has asked online sellers to pull down listings of such equipment, an official statement said on Thursday.


The DoT has also carried out raids across multiple locations in South Mumbai over the last two days which led to the removal of 68 illegal boosters (or repeaters), it added. The action comes amid frequent complaints of poor network quality in various parts of the country.


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As we battle the economic impact of the pandemic, we need your support even more, so

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World Readies For Lockdown Christmas

Coronavirus misery hung over Christmas preparations worldwide on Thursday, with countless millions forced to cancel plans or limit festivities under fresh virus lockdowns.

After a grinding pandemic year that has seen more than 1.7 million people die from Covid-19, a slew of new outbreaks are a stark reminder that despite emergency vaccine rollouts, life is unlikely to return to normal quickly.

Donald Trump and his wife Melania left Washington to spend Christmas in Florida, after his shock rejection of a massive coronavirus relief package passed by Congress

Pope Francis, spiritual leader of 1.3 billion Catholics across the globe, celebrated Christmas Eve mass in St Peter’s Basilica before fewer than 200 masked faithful, mostly employees of the tiny state of Vatican City.

The mass, traditionally held at midnight, had been moved forward by two hours to 7:30 pm (1830 GMT) to meet Italy’s curfew rules.

Before the pandemic hit, several thousand believers and tourists had obtained precious tickets to attend the papal mass.

Thousands of hauliers are stuck in the UK, cut off by travel restrictions brought in because of a new coronavirus variant discovered there

Thousands of hauliers are stuck in the UK, cut off by travel restrictions brought in because of a new coronavirus variant discovered there

On Thursday evening, St Peter’s Square, usually

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