Top headlines: CCI inquiry on Google, Karnataka elections results and more

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People wait in queues at a polling station to cast their votes for Karnataka Assembly elections, in Bengaluru on May 10

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Karnataka elections results 2023: When, where, and how to check results
Voters in Karnataka voted on May 10 to choose their representatives in the state assembly, and the fate of 2,615 candidates was sealed in the electronic voting machines (EVMs). The counting of votes will begin at 8 AM on Friday. Track counting and election results here...

More hits than misses spur most upgrades in six quarters, shows data
More companies managed to surpass analysts’ estimates during the March 2023 quarter of the 2022-23 financial year (Q4FY23) – spurring the best percentage of upgrades vis-à-vis downgrades since Q2FY22.
“Of the 63 March 2023 quarter results we analysed from our coverage universe, 49 per cent came above analyst estimates, highest in four quarters, while 37 per cent came below. The remaining 14 per cent were in line. Earnings upgrades (at 49 per cent) were the same as earnings downgrades (49 per cent); though upgrade percentage is highest in the past six quarters,” said Jefferies in a note. Read more...
CCI asks Google to share policies on data sharing, in-app billing

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The Competition Commission of India (CCI) on Friday launched an inquiry into Google’s alleged non-compliance with its October 2022 directives asking the tech giant to allow app developers to offer third-party billing for in-app purchases and subscriptions, sources said. Additionally, the CCI has also ordered the company to provide details of its formal processes or internal policies regarding sharing of data generated or provided by users or app developers. The tech giant has been asked to submit the details to the CCI within four weeks. Read more...
Govt to spend $1.2 billion on modernising semiconductor lab in Mohali

The government will spend around $1.2 billion to modernise the Semi-conductor Laboratory (SCL) in Mohali, a 30-year-old facility currently capable of producing 8-inch CMOS microchip wafers mostly used for the country’s strategic needs such as the space programme.
The planned modernisation and commercialisation of the facility is a part of the government’s $10 billion India Semiconductor Mission announced in 2021. The Union Cabinet approved the modernisation plan in July 2022, which includes an exploration of the possibility of the Joint Venture (JV) of the Semi-Conductor Laboratory (SCL) with one or more commercial fab partners. However, the government has not provided a projected timeline for the project. Read more...

Tata Motors Q4 results: Net profit at Rs 5,407 crore, dividend declared
Tata Motors on Friday reported a consolidated net profit of Rs 5,407.79 crore in the quarter that ended March 31 as compared to a loss of Rs 1,032.84 crore in the same quarter in 2021-22. During FY23, the company's net profit was Rs 2,414.29 crore. In FY22, it had reported a loss of Rs 11,441.47 crore.  
The company also declared a final dividend of Rs 2 per share. Read more...

First Published: May 13 2023 | 8:06 AM IST

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