 "Top headlines: CMD role split made voluntary; SpiceJet posts profit in Q3")
Separation of roles of Chairperson and MD made voluntary: Sebi
Capital markets regulator Sebi on Tuesday said the requirement to split Chairperson and Managing Director/Chief Executive Officer positions at listed companies will not be mandatory and will be implemented on a voluntary basis. Read more here
The listed entities were required to split the roles before April 2022.
"Sebi board at this juncture, decided that this provision may not be retained as a mandatory requirement and instead be made applicable to the listed entities on a 'voluntary basis'," the regulator said in a release after the board meeting. Read more here
SpiceJet posts standalone net profit of Rs 23 cr in Q3, stock jumps 8%
SpiceJet on Tuesday reported a consolidated profit of Rs 42.45 crore for the three months ended December 2021 as higher passenger traffic and improved performance of the logistics segment propelled the airline into the black.
The no-frills carrier, which is currently going through turbulent times, had a consolidated loss of Rs 66.78 crore in the year-ago period.
Total income in the latest December quarter climbed to Rs 267.73 crore compared to Rs 187.06 crore in the same period a year ago, according to a regulatory filing. Read more here
India's Jan trade deficit widens to $17.42 bn, exports rise 25%: Govt
India's exports in January rose 25.28 per cent to $34.50 billion on account of healthy performance by sectors such as engineering, petroleum and gems and jewellery, according to data released by the commerce ministry on Tuesday.
However, the trade deficit during the month too widened to $17.42 billion.
Imports grew by 23.54 per cent to $51.93 billion during the month under review. Read more here
Indian embassy in Kyiv advises Indians to leave Ukraine temporarily
India on Tuesday advised its citizens in Ukraine to temporarily leave that country amid escalating tension between Russia and NATO countries over the eastern European nation.
In an advisory, the Indian embassy in Kyiv asked Indian nationals to avoid all non-essential travel to and within Ukraine.
"In view of the uncertainties of the current situation in Ukraine, Indian nationals in Ukraine, particularly students whose stay is not essential, may consider leaving temporarily," it said. Read more here
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