Ola founder and CEO Bhavish Aggarwal has rubbished reports in a section of media about the company being in talks with Uber for a possible merger.

Bhavish Aggarwal said in a tweet that Ola is very profitable and growing well and if some other companies want to exit their business from India they are welcome to.

(Reuters) - India's Yes Bank Ltd said on Friday it will sell up to 10% stake to U.S. private equity firms Carlyle Group Inc and Advent International for $1.1 billion.

Yes Bank will raise the funds through a combination of about $640 million in shares and about $475 million in share warrants, the private lender said in a statement.

Haryana Chief Minister Manohar Lal Khattar on Friday accorded approval for a special package of incentives amounting to Rs 67.62 crores for Suzuki Motorcycles India Pvt Ltd (SMIPL), a state government statement said late Friday evening.

The Chief Minister said that it would further strengthen the existing ecosystem of automobile manufacturing in Haryana and create job opportunities for the youths.

Technology giant Apple has reported a "near doubling" of revenue in India in the quarter ended June 2022. Announcing financial results for its fiscal 2022 third quarter ended June 25, Apple on Thursday said it had achieved a revenue record of $83 billion, up 2 per cent year-over-year.

Apple CEO Tim Cook, during an earnings call, said the $83 billion revenue was "better than we expected despite supply constraints, strong foreign exchange headwinds and the impact of our business in Russia".

Shares of Ashok Leyland hit an over four-year high at Rs 154.45, as the stock rallied 6 per cent on the BSE in Friday’s intra-day trade ahead of the April-June quarter (Q1FY23) results later today.

The automobiles company traded at its highest level since May 2018. The stock had hit a record high of Rs 168 on May 8, 2018. In the past three months, Ashok Leyland has outperformed the market by surging 21 per cent, as compared to 0.6 per cent rise in the S&P BSE Sensex.

As many as 5.82 lakh people lost their lives in accidents in four years up to 2020 as per the data received from police department of all states/UTs, though the number of deaths have decreased down the years, the Parliament was told on Thursday.

In 2017, 464,910 accidents left 147,913 dead and 470,975 injured, while in 2018, the number of accidents were 467,044, killing 151,417 people and injuring 469,418, while in 2019, 449,002 accidents left 151,113 dead and in 2020, the number of accidents decreased to 366,138 which left 131,714 people dead and 348,279 injured, Road Transport Nitin Gadkari told the Lok Sabha in a written reply.

The Enforce Directorate raided yet another apartment linked to Arpita Mukherjee, the close associate of arrested West Bengal minister Partha Chatterjee, in the city's Chinar Park area after recovering around Rs 28 crore cash from another flat belonging to her.

The raid by the ED, which is probing the money trail of the school jobs scam, was conducted late Thursday evening, an ED official said.

Gold became dearer in Friday's early trade by Rs 700 per 10 gram with 24-carat of the yellow metal trading at Rs 51,380. The price of silver, on other the hand, rose by Rs 1,900 per kg to Rs 56,500 on Friday.

Meanwhile, 10 gram of 22-carat gold is trading at Rs 47,100 today after an increase of Rs 650.

As Ola ramps up its hiring for the electric mobility business, the urban mobility firm is in the process of firing nearly 1,000 employees, The Economic Times reported on Friday quoting company insiders and recruitment agencies.

An earlier report by the newspaper had stated that the firm was laying off around 400-500 employees, while the annual appraisals for many staff were yet to be formalised.

One97 Communications, the parent company of Paytm, has prioritised the payments and distribution of lending products businesses while allocating the resources, as the company aims to achieve operating profitability by the second quarter of FY23.

The digital payments company presented the annual report for FY 2021-22 for the first time as a publicly listed company. Vijay Shekhar Sharma, the founder and Chief Executive Officer (CEO) of Paytm said the company has recorded rapid growth in payments and a huge scale-up in lending and payments devices businesses.

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