Daily News Wrap | Tata Steel net goes down in Q1; Delhi Police to curb liquor consumption

Daily News Wrap | Tata Steel net goes down in Q1; Delhi Police to curb liquor consumption

Also, India reports 18,313 new COVID cases; AI expected to increase ROIs across industries; Adani Enterprises stock hits a new record high and more

National

Delhi Police launches special drive to curb liquor consumption in public places

Delhi Police has launched a special drive against drunkards to restrain the consumption of alcohol in public places. During this drive, action has been taken against 619 persons who were found consuming alcohol in public places, the police informed.

As a result of the drive, it has been noticed that the number of PCR calls received in the District in connection to domestic violence and quarrels during weekend days had reduced in comparison to other days.

SHOs of all the 10 police stations have been directed to be more vigilant and increase beat staff patrolling and take strict action against sellers and drunkards in public places. Such practice is being adopted to create a sense of safety and security for the general public, especially for women.

India reports 18,313 new COVID cases

India reported 18,313 new Covid cases in the last 24 hours, a rise from the previous day's count of 14,830.

In the same period, the country has reported 57 more Covid deaths, taking the nationwide death toll to 5,26,167. Meanwhile, the active caseload of the country has marginally dropped to 1,45,026 cases, accounting for 0.33 per cent of the country's total positive cases.

Also in the same period, a total of 4,25,337 tests were conducted across the country, increasing the overall tally to over 87.36 crores.

Over 3.86 crore adolescents have been administered a first dose of Covid-19 jab since the beginning of the vaccination drive for this age bracket.

Finance

AI expected to increase ROIs across industries

As a result of faster, more transparent transactions and higher Return on Investments (RoIs) across sectors, artificial intelligence (AI) is having a substantial impact on key industries, industry experts said on Tuesday.

According to the experts, the impact of AI in sectors as diverse as healthcare, education and real estate stands out. With this in mind, it can be seen that AI can help in traditional sectors and markets too.

Data and computing resources combine to work magic, using AI and making all these sectors much more efficient than previously imagined

While education and healthcare are transforming with AI, traditional sectors like real estate are not far behind.

In fact, the use of AI in realty is leading to faster transactions and transparency in deals.

Business

Tata Steel net goes down in first quarter

Steel major Tata Steel Ltd closed the first quarter of the current fiscal with a lower after-tax profit on a higher turnover, as compared to the corresponding period the previous year.

In a regulatory filing on Monday, the company said the after-tax profit for the period ended June 30, 2022, stood at ₹5,783 crores on a turnover of ₹34,015 crores.

For the corresponding period of the previous year, Tata Steel had posted a net profit of ₹9,112 crores on a turnover of ₹29,377 crores.

The company is geared toward commissioning the 6 MTPA pellet plant at Kalinganagar in the third quarter of the current fiscal, which will drive cost savings followed by the cold rolling mill (CRM) complex and the 5 MTPA expansion project.

Adani Enterprises stock hits new record high

The share price of Adani Enterprises Ltd hit the 52-week high mark of ₹2,561.35 on the BSE on Monday.

The stock, which has been on the uptrend for the past several days, opened at ₹2,500 after closing at ₹2,499 on Friday and went up to ₹2,561.35 before ending the day at ₹2,549.85.

It is said that the stock of the Adani Group's flagship company is on the rise owing to increased demand for power.

The other listed companies of the group in the power sector are Adani Power, Adani Transmissions, and Adani Green.

Adani Enterprises is presently focused on businesses related to airports, roads, water management, data centres, solar manufacturing, defence and aerospace, edible oils and foods, mining, integrated resource solutions, and integrated agriculture products.

International

Pakistani rupee reaches new low against US dollar

Pakistani rupee (PKR) reached a new low against the US dollar on Tuesday, closing at PKR 232.93 in the interbank market.

The local unit closed at PKR 232.93 in the interbank market, up from PKR 229.88 a day earlier, as it shed PKR 3.05 or 1.31% against the dollar, data from the State Bank of Pakistan (SBP) showed. As per analysts, the persistent political crisis is to be blamed for the Pakistani rupee's continued losing ground against the US dollar.

The financial markets remained jittery amid an ongoing political crisis.
The rupee has been one of the world's worst-performing currencies, slumping more than 30% since the start of the year (2022).

Fears have risen about Pakistan's stuttering economy as its currency fell nearly 8% against the US dollar in the last trading week, while the country's forex reserves stand below USD 10 billion with inflation at the highest in more than a decade.

Technology

India at 5th spot for lowest mobile data prices worldwide

Amid the 5G spectrum auction, India has been ranked fifth for the cheapest mobile data pricing in the world, says a new report.

According to the report by Cable.co.uk, the five cheapest countries in terms of the average cost of 1 GB of mobile data are Israel ($0.04), Italy ($0.12), San Marino ($0.14), Fiji ($0.15), and India ($0.17) in the Worldwide Mobile Data Pricing 2022 list.

Meanwhile, the five most expensive countries in terms of the average cost of 1 GB of mobile data are Saint Helena ($41.06), the Falkland Islands ($38.45), Sao Tome and Principe ($29.49), Tokelau ($17.88) and Yemen ($16.58).

Sports

ICC ODI Rankings: Shikhar Dhawan rises to 13th spot, Shreyas Iyer to 54th place

In the latest update to ICC Men's ODI Rankings, Indian opener Shikhar Dhawan climbed up to a joint 13th spot in the rankings and batter Shreyas Iyer also rose up 20 places, to climb to a joint 54th spot after the second ODI match against West Indies in the three-match ODI series.

Pakistan opener Abdullah Shafique and Sri Lanka spinner Prabath Jayasuriya continue to soar in the ICC Men's Test Player Rankings after splendid performances in the first Test of their ICC World Test Championship series in Galle. Fast bowler Shaheen Afridi is another Pakistan player to gain in the latest weekly update.

In the ICC Men's ODI Player Rankings, South Africa's Quinton de Kock has progressed two places to fourth. England fast bowler David Willey has moved up to 23rd position among bowlers.

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