Largely in line with street estimates, cigarette-to-hotel major ITC on Friday reported close to 12% year-on-year growth in its standalone net profit at Rs 2,954.67 crore for the second quarter ended September 30, with gross revenue soaring 14.7% y-o-y. Revenues from cigarette, non-cigarette FMCG and hotels businesses during the July-September period posted double-digit growth.

Markets regulator Sebi Friday confirmed the interim directions passed earlier against Nu Tek India Ltd (NTIL) that features amongst the 331 suspected shell firms, for misrepresenting books of accounts. The regulator said, it “hereby confirms the directions issued vide interim order dated October 9, 2017” and added that before passing final order in the matter, Nu Tek will be given an opportunity to file a reply and appear for hearing on the findings of forensic auditor.

JT Special Vehicles (JTSV), a 50:50 joint venture between Tata Motors and Coimbatore-based Jayem Automotives, on Friday launched JTP range of performance vehicles – the Tiago JTP and the Tigor JTP. Jayem Automotives is an independent automotive R & D company involved in design, development, testing and manufacturing of a wide range of automotive components, systems and prototypes.

MUMBAI: Indian Railway Catering & Tourism Corp (IRCTC) sold Rs 28,475 crore of train tickets online in the year ended March 2018, growing 14% on-year, but its overall income dipped due to withdrawal of service fee charges.

The government-owned portal posted a 3.1% decline in revenue to Rs 1,544 crore while its net profit rose 3.4% to Rs 222 crore.

NEW DELHI: ArcelorMittal said Essar Steel’s creditors put the seal on its acquisition of the bankrupt company, a day after the erstwhile promoters sought to make a last-minute bid to regain control.

“Further to ArcelorMittal being named the H1 resolution applicant (the preferred bidder) on October 19, 2018, ESIL’s CoC (committee of creditors) has now approved the company’s resolution plan for ESIL (Essar SteelNSE 0.00 % India Ltd), with the LoI (letter of intent) identifying it as the successful resolution plan,” ArecelorMittal said in a release.

Pakistan, which remains the breeding ground and supporter of global terrorism, is responsible for three times the terror risk to humanity that Syria poses, says a study -- 'Humanity at Risk - Global Terror Threat Indicant (GTTI) -- by Oxford University and Strategic Foresight Group (SFG).

As per the GTTI, while the Afghan Taliban and the Lashkar-e-Taiyyaba (LeT) pose the maximum threat to international security in future,

Microsoft Corp regained its spot as the second most valuable US company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer's market capitalisation.

Apple Inc tops the list at over $1 trillion after crossing that threshold in September. Microsoft's market capitalisation was Wall Street's highest in late 1998 through early 2000 before the dot-com bubble burst.

Microsoft is committed to complying with the law of the land when it comes to data privacy and will honour data localisation requests from all countries, including India.

“We will have to comply with data laws of various countries. That is mandatory for us. We are already fully compliant with the EU General Data Protection Regulation (GDPR) and will do the same with other countries’ data protection laws,” Ann Johnson, Corporate Vice President, Cybersecurity Solutions Group at Microsoft, told IANS.

The billionaire Mukesh Ambani-led Reliance Industries Ltd’s strategic partnership with Den Networks Limited and Hathway Cable and Datacom Limited might be a ‘win-win’ for all three companies, but it will have a negative impact on broadcasters and direct-to-home (DTH) players, India Ratings (Ind-Ra) said on Friday. The deal would lead to consolidation in the multiple system operators (MSOs) market, and this, in turn, could be negative for broadcasters by impacting their bargaining power to command higher subscription revenue, Ind-Ra said.

New Delhi: In the extortion case of Paytm co-founder Vijay Shekhar Sharma, even as the police assigned motive to company vice-president of communication, Sonia Dhawan, saying she plotted the extortion to buy a house worth Rs 4 crore in Delhi, along with her husband Rupak Jain, Dhawan’s family has claimed otherwise.

Police say Jain’s property business was not doing well and the couple hatched the plan to extort money from Paytm co-founder Vijay Shekhar Sharma.

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