Adani Enterprises Ltd (AEL) on Wednesday reported a 55.3 per cent decline in consolidated profit at Rs 194.54 crore for the quarter ended September, hit by higher expenses.

The company had posted a consolidated profit of Rs 435.73 crore in the year-ago period, Adani Enterprises said in a filing to BSE.

State Bank of India (SBI) surpassed Bajaj Finance in market capitalisation (m-cap) ranking as the stock of the public sector bank hit a new high on Wednesday. The scrip of the non-banking finance company (NBFC), meanwhile, declined over 4 per cent on the BSE in today's intra-day trade.

At 01:21 pm, SBI stood at number eighth position in the overall ranking with an m-cap of Rs 467,203 crore, while Bajaj Finance slipped to number ninth position with a market cap of Rs 453,674 crore, BSE data shows.

India logged 13,451 new coronavirus infections, taking the total tally of COVID-19 cases to 3,42,15,653, while the active cases declined to 1,62,661, the lowest in 242 days, according to the Union Health Ministry data updated on Wednesday.

The death toll climbed to 4,55,653 with 585 fresh fatalities, according to the data updated at 8 am.

The Delhi Cabinet on Wednesday approved the inclusion of Ayodhya in its free pilgrimage scheme for the elderly, Chief Minister Arvind Kejriwal announced.

Kejriwal had on Tuesday offered prayers at the Ram Janambhoomi site in Ayodhya.

The announcement by Kejriwal comes ahead of the Uttar Pradesh Assembly polls early next year which his AAP plans to contest.

Leading textile manufacturer Arvind Ltd on Wednesday reported a consolidated net profit of Rs 71.06 crore for the second quarter ended September 2021, helped by volume growth across segments.

The company had posted a net loss of Rs 5.86 crore during the corresponding quarter of the previous financial year, Arvind said in a regulatory filing.

Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account.

In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming alarmingly frequent.

Shares of Axis Bank dipped 4 per cent to Rs 808.55 on the BSE in Wednesday’s intra-day trade on profit booking after the bank reported a weak operating performance in September quarter (Q2FY22). In past three weeks, the private sector lender was up 8 per cent. The stock had hit a record high of Rs 867 on Monday, October 25, 2021.

In Q2FY22, Axis Bank’s net interest income (NII) was up modestly by 7.8 per cent year-on-year (YoY) at Rs 7,900 crore on account of 19 bps YoY fall in net interest margins (NIMs) to 3.39 per cent.

India’s biggest domestic car manufacturer Maruti Suzuki India reported a 65.3 per cent year-on-year (YoY) decline in net profit at Rs 475.3 crore for the July to September quarter of FY22 (Q2FY22). It was Rs 1,371.6 crore in Q2FY21.

On a sequential basis, the profit rose 7.8 per cent from Rs 440.8 crore.

Satya Nadella-run Microsoft has posted robust revenue of $45.3 billion and a net income of $20.5 billion for the July-September quarter, riding on a strong performance on its cloud, server, and Office businesses.

While revenues were up 22 per cent, net income registered 48 per cent growth as pandemic forced millions to work and learn from home.

Reliance Group firm Reliance New Energy Solar has offered Rs 375 per share to acquire 49.1 mn shares of Sterling and Wilson Solar for over Rs 1,840 crore.

The 49.1 mn shares constitute 25.9 per cent equity stake or the entire public holding in Sterling and Wilson Solar Ltd, Sterling and Wilson Solar said in a regulatory filing.

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