The International Monetary Fund (IMF) on Friday supported India's decision to cut corporate income tax, saying that it has a positive impact on investment.

It, however, advised India to address the continued fiscal consolidation and secure long-term stability of the fiscal conditions.

The Securities and Exchange Board of India (Sebi) on Friday tightened the rules around resignations of auditors from listed companies.

The market regulator has said that an auditor will have to provide review — limited or complete audit report — for the quarter during which it resigns. For instance, if the auditor decides to resign in August 2019, it will have to issue the review for the quarter ended September 30, 2019.

The retail arm of Reliance Industries (RIL) posted a pre-tax profit of Rs 2,322 crore for the quarter ended September 30, (Q2) year-on-year (YoY) growth of nearly 67 per cent as it reaped benefits of scale during the quarter.

This is the second straight quarter that Reliance Retail’s earnings before interest, tax, depreciation, and amortisation (Ebitda) has crossed Rs 2,000 crore.

Capital markets regulator Sebi has reconstituted its Primary Market Advisory Committee (PMAC) that advises it on policy framework, development of initial public offerings and other such segments.

The panel, which is chaired by TV Mohandas Pai, chairman of the Manipal Global Education Services, has now 26 members. Earlier, the panel has 23 members, according to the Securities and Exchange Board of India (Sebi).

Air India Assets Holding Ltd (AIAHL) has raised another Rs 7,985 crore through the issue of bonds, and the proceeds will be utilised to repay Air India’s debt. This the third fund-raising in little over a month by the entity.

A special purpose vehicle of Air India, AIAHL has mopped up a total of Rs 21,985 crore by way of bond issues since September 16.

NEW DELHI : As two bank unions threaten to sit on a day-long bank strike against the merger of public sector banks, the State Bank of India (SBI) expects the impact to be minimal while the Bank of Baroda has warned customers that its operations could be paralysed.

IRCTC shares, which made a bumper debut on Monday, hit a new high today. Shares of the Railway company surged as much as 9% to a new high of ₹789.9. In latest trade, IRCTC shares were up 6% to ₹767 as compared to a 0.45% gain in Sensex. On Monday, IRCTC's share prices more than doubled as compared to its issue price of ₹320, the best debut since 2017.

NEW DELHI/MUMBAI: India is deliberating potential censorship on streaming platforms such as Netflix and Amazon Prime Video, a senior government source told Reuters.

While film and TV certification bodies already moderate public content in India, the country's laws do not allow censorship of content on the increasingly popular online streaming platforms.

Equity benchmark BSE Sensex rose over 100 points in early trade on Friday amid led by gains in index heavyweights HDFC Bank and RIL amid sustained foreign fund inflow.

The 30-share index was trading 122.21 points, or 0.31 per cent, higher at 39,174.27 in morning trade. The broader NSE Nifty advance 32.30 points, or 0.28 per cent, to 11,618.65.

Shares of billionaire Mukesh Ambani-led Reliance Industries touched a fresh record high on Friday, propelling the firm’s market capitalisation to hit the crucial Rs 9 lakh crore mark. The rally in shares came ahead of the Q2 results scheduled to be reported today. Reliance Industries shares jumped by more than 2% to hit the day’s high at Rs 1,428. Reliance Industries market capitalisation has swollen to Rs 9.03 lakh crore, making it India’s most valuable firm by market capitalisation.

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