Top headlines: RIL Q3 results, IDBI Bank sale after LIC IPO, and more

Reliance Industries Ltd on Friday reported a consolidated net profit of Rs 18,549 crore in the quarter ended December 2021

The government will start reaching out to potential investors and begin road shows for the delayed strategic sale of IDBI Bank. Read all the headlines of the day here:

RIL Q3 results: Net profit jumps 42% to Rs 18,549 cr, beats estimates 

Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a consolidated net profit of Rs 18,549 crore in the quarter ended December 2021 (Q3), up 42 per cent over the corresponding period in the previous year on increased revenues and one-time gains due to divesting shale gas assets in North America. Read more

Centre to get cracking on IDBI Bank sale once LIC IPO is launched 

The government will start reaching out to potential investors and begin road shows for the delayed strategic sale of IDBI Bank after it launches the initial public offering (IPO) of Life Insurance Corporation of India (LIC), officials in the know said. Read more

Willing to accept Amazon's proposal, but under certain conditions: FRL 

The independent directors of Kishore Biyani-led Future Retail Limited (FRL) have given their willingness to accept US e-commerce giant Amazon’s proposal in addressing any financial concerns of FRL, including the solution proposed in the term sheet between Samara Capital, and FRL, which contemplated an infusion of Rs 7,000 crore in FRL. Read more

Budget wishlist: Here are the key challenges in manufacturing sector 

Current sector snapshot The India Manufacturing Purchasing Manager’s Index (PMI) for December indicated an improvement in the manufacturing sector for the sixth consecutive month. International demand for Indian goods also improved. Read more

Singapore-based Shopee takes India's e-commerce market by storm 

It’s a worrying time for e-commerce players like Meesho, Amazon, and Ajio because Singapore-based Shopee, launched only in November, has become the new love of Indian consumers. It has shot into the coveted position of being the second most downloaded app in India (just behind Meesho) according to Sensor Tower figures for January. Read more