Top headlines: RIL clarifies on ZEE merger deal; Infosys Q2 net rises 12%

Business Standard brings you the top headlines on Wednesday

Regret being drawn into the dispute between Zee and Invesco: Reliance

Reliance Industries on Wednesday said it had couple of months back made a proposal for merger of its media properties with Zee but dropped the offer over differences over stake of Zee founders.

Hours after Zee Entertainment Enterprises Ltd's biggest shareholder named it as a firm that could help revive the television company's fortunes, billionaire Mukesh Ambani's firm issued a statement clarifying its position. Read more

Infosys Q2 net profit rises 12% YoY, firm raises FY22 revenue guidance

IT services major Infosys managed to meet Street expectations even as the company raised its revenue guidance for FY22 to 16.5 per cent to 17.5 per cent.

For the September quarter, the company reported net profit at Rs 5,428 crore, up 12 per cent year on year and sequentially grew by 4.3 per cent. Revenue for the quarter was up 20 per cent at Rs 29,602 crore. Read more

Wipro Q2 profit drops 10% sequentially to Rs 2,931 cr, IT revenue up 7.6%

Wipro Ltd reported results for the second quarter of financial year 2021-22 (FY22), with IT services revenue at Rs 19,760 crore, up 7.6 per cent on a quarterly basis, while net income for the quarter was Rs 2,930.7 crore, an decrease of 10 per cent on a quarter-on-quarter basis.

The technology services firm expects revenue from its IT Services business to be in the range of $2.63-2.68 billion for the third quarter ending December 2021, translating to a sequential growth of 2-4 per cent. Read more

Govt scraps basic customs duty, cuts agri cess on vegetable oils

The government on Wednesday scrapped basic customs duty as well as slashed agri cess on crude varieties of palm, soyabean and sunflower oil till March 2022, a move which will help cool prices and increase domestic availability in the festive season.

The duty cuts will be effective from October 14 and will remain in force till March 31, 2022, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification. Read more