Punjab National Bank (PNB), the country’s second-largest public sector lender on Friday reported a net loss of Rs 4,532 crore in the September quarter of FY19, against a net profit of Rs 561 crore a year ago as provisions soared 300% on a year-on-year (y-o-y) basis to Rs 9,758 crore.

The proposed Silicon Valley Hub in Kolkata, the flagship information technology (IT) project of the West Bengal government, has attracted four major players — Reliance Jio, Tata Consultancy Services, Capgemini and Firstsource.

The four companies are the major ones among others to have submitted proposals under the expression of interest (EOI) floated by the West Bengal government for setting up units in the proposed hub, said Amit Mitra, finance,

The divide between incumbent telecom operators and latest entrant Reliance Jio, in terms of subscriber additions, continues to prevail even though it’s been more than two years since the Mukesh Ambani-owned company joined the bandwagon.

LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday. After inaugurating the 21st edition of the property fair ‘Ungal Illam’ here, company Managing Director and CEO, Vinay Sah said, “We have targeted to grow at about 15-16 per cent this year. Our H1 (April-September period), growth rate was in the range of 20 per cent.”

Indian power producer NTPC Ltd reported a marginal fall in September-quarter profit on Friday, missing estimates, as higher expenses weighed.

Profit came in at 24.26 billion rupees ($334.03 million) for the three months ended Sept. 30, compared with 24.39 billion rupees a year earlier, said the country's largest electric utility company by market capitalisation.

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.

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