India’s December wholesale inflation slows to 1.22% as food prices ease


The wholesale price-based inflation slowed to 1.22 per cent in December on easing food prices, as per government data released on Thursday.

The inflation based on Wholesale Price Index (WPI) was 1.55 per cent in November 2020, and 2.76 per cent in December 2019.

The rate of inflation based on WPI Food Index decreased from 4.27 per cent in November 2020, to 0.92 per cent in December 2020, as per the data released by the Department for Promotion of Industry and Internal Trade.

It is to be noted here that retail inflation had also dropped sharply to 4.59 per cent in December, mainly due to declining

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Infosys posts 16.6% net profit growth in Dec quarter, revises FY21 guidance


Information technology (IT) services major on Wednesday raised its full-year revenue and margin guidance after posting 16.6 per cent growth in net profit in the quarter ended December (Q3). The consolidated net profit of Rs 5,197 crore in Q3 is the highest ever for the firm, and beat analyst estimates, which had pegged it at just over Rs 5,000 crore.

The Bengaluru-headquartered company also guided for double-digit growth in the next financial year on the back of a ramp-up in large deals, acceleration in digital spends by clients, and a strong deal pipeline. The company revised its hiring target and indicated it would hire 24,000 freshers next year up from 15,000 planned earlier.

reported 12.3 per cent year-on-year revenue growth in Q3 at Rs 25,927 crore, as against an estimate of Rs 25,184 crore. The banking and financial services segment, which contributes over a third of its revenue and is its largest vertical, grew by over 13 per cent. Digital business continued its growth momentum, rising 33 per cent over the year-ago quarter. The business now contributes half of Infosys’ revenue compared to 40.6 per cent a year ago.


Trump Impeached For Unprecedented Second Time


Donald Trump became the first US president in history to be impeached twice when the House of Representatives voted Wednesday to charge him with inciting last week’s mob attack on Congress.

The Senate will not hold a trial before January 20, when Democrat Joe Biden assumes the presidency, meaning the real estate tycoon will escape the risk of being forced to leave early. He will, however, depart in disgrace — and likely due to face a Senate trial later.

US Speaker of the House, Nancy Pelosi, is unlikely to agree to stand alone aid bills that President Trump has called for, since that would surrender leverage to win support for state and local governments
 AFP / Nicholas Kamm

The only question in the House had been how many Republicans would join the Democratic majority.

In the end, 10 Republicans broke ranks, including the party’s number three in the House, Representative Liz Cheney.

US Speaker of the House Nancy Pelosi will preside over the second vote in just 13 months to impeach President Donald Trump

US Speaker of the House Nancy Pelosi will preside over the second vote in just 13 months to impeach President Donald Trump

Holed up in the White House, Trump had no immediate reaction but he earlier issued a brief statement insisting that he opposed

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