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.

Adani Group Chairman Gautam Adani called on Sri Lankan President Gotabaya Rajapaksa in Colombo earlier this week, days after his company inked a deal with the state-owned Sri Lanka Ports Authority (SLPA) to develop and run the strategic Colombo Port’s Western Container Terminal (WCT).

President Rajapaksa has recorded in his diary that he met with ‘an Indian friend’, said Kingsley Ratnayaka, media advisor to the President.

Narcotics Control Bureau (NCB) Mumbai zonal director Sameer Wankhede, who is heading the probe into Mumbai's high profile drugs case, on Tuesday reached the head office here to meet chief S.N. Pradhan.

Mumbai NCB arrested Aryan Khan, son of actor Shah Rukh Khan in the cruise drug case investigation on October 2.

India saw a single-day rise of 12,428 new COVID-19 cases, the lowest in 238 days, while the active cases declined to 1,63,816, according to the Union Health Ministry data updated on Tuesday.

With the fresh cases, the total tally climbed to 3,42,02,202, while the death toll climbed to 4,55,068 with 356 fresh fatalities, according to the data updated at 8 am.

Shares of H G Infra Engineering surged 15 per cent to Rs 819.55 on the BSE in Tuesday’s intraday trade after the company received Letter of Award (LoA) from National Highways Authority of India (NHAI) for the projects worth of Rs 2,297 crore.

The stock of construction & engineering company surpassed its previous high of Rs 784.30 recorded on October 18, 2021. At 12:46 pm; it was trading 12 per cent higher at Rs 795.60, as compared to 0.09 per cent fall in the S&P BSE Sensex.

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