Under the new terms, the royalty is set to increase 80 basis points (0.8 percentage points) in a staggered way from 2.65% of revenue to 3.45% over a period of three years. Considering the consolidated revenue of 2021-22, an 80 bps increase in royalty on ₹51,400 crore translates to around ₹400 crore. This, compared to the net profit of ₹9,000 crore, is not an insignificant amount.
US stocks: US market ends down as Iran peace deal optimism fades
Wall Street closed lower as investors grew pessimistic about Middle East stability. Amazon and Alphabet stocks dipped, impacting major indices like the S&P 500. Brent