Top Headlines: India Inc's profits fall; the Big Bull bows out, and more

Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. On the other hand, Rakesh Jhunjhunwala, who died aged 62 on Sunday, was wary of providing investment ideas despite being constantly badgered for them, but once said he was unable to refuse a woman when she persisted. Read more on these in our top headlines.

India Inc's profits fall off record high in April-June quarter

Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. The combined net profit of 2,981 listed companies across sectors in the Business Standard sample was up 22.4 per cent YoY to Rs 2.24 trillion in the June quarter, driven by a big jump in the earnings of banks, non-banking lenders, oil & producers, and FMCG companies. Read more
 

Value of Rakesh Jhunjhunwala's portfolio soared in last seven years

Rakesh Jhunjhunwala was wary of providing investment ideas despite being constantly badgered for them, but once said he was unable to refuse a woman when she persisted. He suggested a stock he expected to double in two or three years. The woman was disappointed and it showed on her face, and she asked, “Just double?” Read more
 

Indians have proved the sceptics wrong, says President Droupadi Murmu

All Indians must celebrate ‘democracy with Indian characteristics’, President Droupadi Murmu said on Sunday in her first Independence Day eve address to the nation, reminding the country about sacrifices for freedom made by women, as well as many adivasis who should be considered national heroes. Read more
 

Mission 2025: Telecom tower firms to invest Rs 2 trillion in 5G infra

Mobile tower companies are getting ready to invest over Rs 2 trillion by 2025, half of it in the next two years, to help meet the telecom firms’ target to take 5G to 50 per cent of the country. These are the figures provided by the Digital Infrastructure Providers’ Association (DIPA), the apex body of the tower companies. While the focus so far has tended to be on the gigantic investment of around Rs 2-3 trillion, which telecom companies have to make for rolling out 5G, less talked-about is the fact that tower companies will also have to spend about the same amount to enable high speed services. Read more
 

Statsguru: Six charts show hits and misses after India's independence

India had fewer than 120,000 telephone connections in 1947 for a country of 350 million people. This works out to fewer than four telephones for every 10,000 people. The mobile phone revolution has meant that connections are now close to the population number. The per capita electricity consumption was 16 kilowatt-hours in 1947. One kilowatt-hour is the electricity required to power a single 100-watt light bulb for 10 hours. Per capita electricity consumption rose to over 1,200 kilowatt-hours in 2020. Read more