Axis Bank Ltd, India's third-biggest private sector lender by assets, on Friday posted a better-than-expected 82.6 percent jump in second-quarter profit, boosted by higher interest income and as asset quality improved.

Net profit came in at 7.90 billion rupees ($108.95 million) for the three months ended Sept. 30, compared with 4.32 billion rupees a year ago, above analysts' estimates of a net profit of 7.41 billion rupees, according to Refinitiv data.

The Securities and Exchange Board of India (Sebi) has found that a Sahara group firm has raised over Rs 14,000 crore in violation of rules and ordered the company and its then directors, including Subrata Roy, to refund the money with 15 per cent annual interest.

The market regulator has also barred the company, Subrata Roy and four other individuals from accessing and dealing in the securities market for a period of four years from the date of completion of refunds to investors.

Bharti Airtel Ltd has decided to wean away subscribers who barely add anything to its kitty, according to a Mint report. The company said on a call with analysts that about 30% of its 333 million India wireless subscriber base generates low double-digit Arpu (average revenue per user). To correct this, it has introduced plans that ensure a minimum Arpu of 35 per month.

In line with the Supreme Court order to allow a 2-hour window for bursting crackers on Deepavali day, the Tamil Nadu government on Friday fixed two slots — between 6 am and 7 am and between 7 pm and 8 pm — on the day of the festival of lights.

“It is everyone’s duty to ensure a pollution-free environment,” stated an official release from the Tamil Nadu government.

Microsoft CEO Satya Nadella has called on technology companies to defend users’ privacy as human right, urging firms and governments to collectively work together to protect the most vulnerable section in society. Speaking at an event “Future Decoded” here on Thursday, Nadella applauded the European Union’s General Data Protection Regulation (GDPR) as first step towards securing data privacy, The Registrar reported.

IT major Tata Consultancy Services Friday said it has acquired London-based digital design company W12 Studios, in its first merger and acquisition (M&A) in the space as well as under the leadership of CEO Rajesh Gopinathan. Financial details of the deal, however, have not been disclosed by the company.

The turmoil in India’s credit markets, brought on by defaults at a major infrastructure financier, will benefit the nation’s largest developer, allowing it to sell homes while peers struggle to get money to finish their projects.

Gurugram-based DLF has adequate liquidity and access to capital to meet all of its obligations on time. It believes that it is well placed to grab opportunities, the company said Thursday at the release of its second-quarter results A unit of DLF and Hines have agreed to jointly develop a commercial project in Gurugram, near New Delhi.

Paytm Mall has launched its week-long Maha Cashback Sale. Paytm Mall's Maha Cashback sale has started from Novermber 1 and will last till November 7. Under its cashback sale, Paytm Mall is offering up to Rs 16,000 in flat cashback on popular smartphones.

State Bank of India (SBI) on Thursday withdrew an application filed with the National Company Law Tribunal (NCLT) to send Uttam Galva Steels (UGSL) for debt resolution under the Insolvency and Bankruptcy Code after ArcelorMittal, one of the former co-promoters, paid UGSL's dues worth Rs 61 billion to the lenders.

With this, UGSL becomes the first company where lenders have received their entire dues after an application was filed with the NCLT for debt resolution under the bankruptcy code.

Indian shares headed for their best week since May 2016 amid earnings and as tensions eased between the government and the central bank over the monetary authority’s independence. An overnight drop in the price of crude also boosted sentiment.

The benchmark S&P BSE Sensex climbed 1.2 per cent to 34,841.20 as of 9:36 am in Mumbai, extending its weekly advance to 4.7 per cent. Asian Paints Ltd.

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