Fri, Jul 5, 2024 5:07 PM
UK Domestic Stocks Rise Most This Year on Labour Election Win
A Flip by Shubhangi Gupta
The Indian government has disputed a Citigroup report that questioned the country's job creation pace, citing official data from the Periodic Labour Force Survey and RBI's KLEMS data. The report claimed India would struggle to create enough jobs despite a 7% growth rate. However, the government countered that India has generated over 8 crore (80 mn) job opportunities between 2017-18 to 2021-22.
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Kaya's shares reached a 5-year high of ₹604.25, with an 80% gain year-to-date, driven by its collaboration with Marico for exclusive sales and marketing of its personal care products. The deal is expected to enhance the brand's presence and accessibility, leveraging both companies' expertise. Kaya's revenue grew 21% to ₹53 crore in Q4FY24, despite posting a net loss of ₹95.1 crore.
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SpiceJet, a troubled airline, faces potential financial struggles as it has reportedly failed to deposit employees' provident fund dues for nearly 2.5 years, affecting 11,581 employees. The last deposit was made in January 2022, and the EPFO has issued notices and summons to the airline. SpiceJet's response is awaited, and this development may exacerbate the airline's financial woes.
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