Petrol, Diesel prices increased
Petrol price was up by 54 paise and diesel by 58 paise a litre this week, the third consecutive price hike after state-run fuel retailers ended an 82-day freeze on daily rate revision on Sunday. International crude oil prices have surged after the producers’ cartel OPEC plus decided to extend record output cuts by a month till the end of July.
Nisaba Godrej appointed as new MD & CEO of Godrej Consumer Products
Whole-time director at Godrej Consumers and daughter of industrialist Adi Godrej, Nisaba Godrej has been appointed as new MD & CEO after Vivek Gambhir the highest-paid FMCG honcho resigned from the company citing personal reasons. Nisaba Godrej will continue as chairperson of the board until March 31, 2022.
Parle-G records best sales in 80 years during Covid-19
Leading food company Parle Products logged record sales of its Parle-G biscuits, preferred for mass consumption, in April and May during the lockdown. Parle increased its market share by around 5 percent in the highly competitive biscuit segment, helped by Parle-G biscuits.
Adani Green Energy bags world’s largest solar contract
Gautam Adani’s renewables company Adani Green Energy AGEL has won one of world’s largest solar contract from Solar Energy Corporation of India (SECI) to develop 8 GW of solar project worth $6bn. AGEL has committed to establish 2 GW of additional solar cell and module manufacturing capacity which is likely to help create 4 lakh direct and indirect jobs.
Madhu Kapur withdraws case against Yes Bank
Madhu Kapur, wife of Yes Bank’s late co-founder Ashok Kapur, and her family have withdrawn a case filed against it in 2013. Madhu Kapur in her suit in Bombay High Court had sought various reliefs including recognition of the family’s right to participate in the management of the bank. Now the Kapur family had agreed to reclassify its shareholding as “non-promoter”. The Kapur family now owns about 1.50% in the bank and are classified as public shareholders.
