The business wrap: Sensex, Nifty hit lifetime highs, and six other top stories
Other headlines: Apple has crossed $800 billion in market value, and Nisaba Godrej is now the executive chairperson of Godrej Consumer Products Ltd.
A look at the headlines right now:
- Sensex and Nifty hit new record highs after Met Department predicts ‘normal’ monsoon: The BSE index closed 315 points up at 30,248, while the NSE bourse ended 90.45 higher to settle at 9,407 for the first time.
- Apple becomes first US company to cross $800-billion mark in market value: Investors helped the company’s stock rise by 1%.
- Industrialist Adi Godrej hands over flagship consumer products company to daughter Nisaba: At 39, she will be among the youngest women to head such a large firm, the company said.
- Airtel’s Q4 net profit plunges 72%, revenue drops by 12%: The telecom major’s negative quarterly report indicates the extreme impact of rival Reliance Jio’s offers.
- Infosys may sack nearly 1,000 senior, mid-level employees: The development comes at a time when Wipro and Cognizant are taking similar measures to control costs.
- SoftBank has lost $1.4 billion from Indian startups Snapdeal, Ola: The Japanese company has also written off more than $1 billion on valuation of its investment in the e-commerce website.
- Renault Duster gets zero stars in crash test: The Global New Car Assessment Programme said it had poor protection for the driver’s head.
