Union Defence Minister Rajnath Singh on Monday is set to leave New Delhi for a two-day visit to France where he will meet French President Emmanuel Macron and receive the first Rafale aircraft, among other things. A press release by the Government of India's Ministry of Defence, dated Monday, October 7th, confirmed the news. The Defence Minister will also be performing 'Shastra Puja' on October 8 for the occasion of Dussehra and fly a sortie in the Rafale aircraft.

Three people were arrested in connection with the death of one of the six members of a family under mysterious circumstances in Kerala's Kozhikode, police said.

Jolly Shaju, the prime suspect, a jewellery shop employee MS Mathew and one Prajikumar have been arrested in connection with the death of Jolly's husband, Roy Thomas.

The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.

On a weekly basis, the local unit slumped by 32 paise.

E-commerce major Amazon and its arch rival, Walmart-owned Flipkart, have independently claimed that their sales for this season — Great India Festival and The Big Billion Days, respectively — were the highest-ever in India’s e-commerce history.

Flipkart on Friday said it had clocked 70 billion views in six days of The Big Billion Days (TBBDs). It also said there was almost 50% growth in the number of new customers, as compared to last year.

Shares of loss-making Mahanagar Telephone Nigam Limited (MTNL) hit their upper circuit of 20% to touch ₹7.87 on reports of the government planning to revive the telecom company.

MTNL shares closed 16.46% higher at ₹7.64 as the counter saw a jump in volume by 8.4 times in a weak Mumbai market on Friday, valuing the company at ₹481.32 crore.

The Sensex on Friday lost over 433 points, after the Reserve Bank of India (RBI) sharply lowered GDP growth estimates for the current fiscal to 6.1% from 6.9%. The market believes the latest round of rate cuts may not be enough to revive demand. Investor wealth of Rs 1.42 lakh crore was wiped out on Friday, taking the five-day erosion to Rs 5.3 lakh crore.

Bengaluru-based IT services company Wipro Ltd has completed the acquisition of US-based International TechneGroup Inc (ITI).

Referring to an earlier announcement on the proposal to acquire ITI, Wipro, in a BSE filing on 4 October, said that “the said acquisition has been completed on October 3, 2019."

After Vodafone Idea, Bharti Airtel has raised the issue of extremely low mobile tariffs currently prevalent in the industry and sought the government’s intervention in the matter. According to sources, Bharti Enterprises chairman Sunil Mittal met communications and IT minister Ravi Shankar Prasad on Friday and highlighted the issue while seeking support from the government.

Coal India reported 20% y-o-y decline in dispatches in September 2019 due to flooding of mines on account of excessive rains. Production volumes traced dispatch numbers and declined by 23.5% yoy in September 2019. E-auction premiums increased to 87% in August 2019 even as inventory across plants declined with four units reporting critical inventory of coal.

NTPC has recently commissioned the first unit (660MW) of its Khargone TPP (2x600MW). This plant is India’s first ultra-super-critical project with a station heat rate (SHR) of 2,070kcal/kWh. Notably, it is ~3% more efficient than the super critical ones given the higher steam parameters. Unit-1 is likely to commercialise soon, while unit-2 commissioning is scheduled for Jan’20. NTPC organised an analyst visit to this plant. Below are our key takeaways from it.

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