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Reliance Industries Ltd (RIL), India’s biggest company by market capitalisation, reported a 13% drop in consolidated profit for the third quarter on the back of weak oil-to-chemicals performance, which was partly offset by growth in the consumer businesses.
The government hopes to address the imbalance in content creation by news media companies and its monetisation by advertising technology companies in the upcoming Digital India Act, said Rajeev Chandrasekhar, minister of state for electronics and information technology.
Prem Watsa’s Fairfax Financial had sought a security-clearance waiver a fortnight before the expression of interest (EoI) deadline for IDBI Bank expired, multiple sources told ET, but the Centre did not accede to the request. The deadline for the EoI, or initial bids, was January 7.
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