Grasim Industries Q2 net profit at ₹1,473 crore

• Grasim Industries had reported a net loss of ₹1,319.79 crore in the September quarter a year ago
• Shares of Grasim Industries settled at ₹734.30 apiece on the BSE, down 0.64% from the previous close

Union Bank of India posts Q2 net loss at Rs1,194 crore

• Provisions during the September quarter doubled to Rs3,434 crore as against Rs1,693 crore in the year-ago quarter
• Net interest income for Jul-Sep quarter increased 16.5% to Rs2,906 crore from Rs2,494 crore in the corresponding period last year

AMJ ventures invests $2 million in Alia Bhatt's fashion startup

• The startup will use the funds towards building out further capabilities in machine learning and in strengthening its moat on the personalisation front
• The funds will also be used to build a strong pan India presence.

Ola-backed VOGO’s FY19 losses rise by 12-fold to Rs39 crore

• The startup's expenses rise by 8 times to Rs46.3 crore in FY19
• VOGO is expected to spend the money raised firm Ola in Dec 2018 towards deploying around 100,000 rental vehicles on its fleet

Stanza Living to scale up to 45,000 beds by month-end

• The Delhi-based startup launched operations in July 2017 with 100 beds in Delhi University’s North campus area
• The company recently raised an undisclosed Series C round led by Falcon Edge Capital that has brought the total capital investment close to $70 million

HMSI launches its first BS 6 motorcycle

• India will shift to stringent Bharat Stage 6 norms from April 1, 2020
• HMSI will be the first manufacturer to have BS 6 complaint scooter and a motorcycle its product portfolio

DGCA suspends GoAir pilots for drifting from runway

• DGCA also orders an inquiry into the incident involving the Airbus A320 aircraft operated by GoAir
• The aircraft has been grounded for detailed investigation at Hyderabad

Malvinder Singh, former Fortis Healthcare promoter, arrested

• Malvinder Singh and Godhwani are accused of laundering money, punishable under sections 3 and 4 of the Prevention of Money Laundering Act
• Both Singh, Godhwani will be produced before a metropolitan magistrate in the prison, when the ED is likely to seek their custodial interrogation

Seven month after Jet's grounding, JetPrivilege renamed InterMiles

• Abu Dhabi-based Etihad Airways PJSC owns 50.1% stake in JPPL, while the grounded Jet Airways holds the remaining
• Jet Airways was grounded in April due to an acute cash crunch

Sachin Bansal infuses Rs890 crore into Navi Technologies

• In January, Sachin Bansal invested ₹650 crore in homegrown ride-hailing unicorn Ola
• Sachin Bansal has purchased 68.35 million shares at ₹130 a piece in Navi Technologies for a total consideration of around ₹888.50 crore

Bharti Airtel Q2 net loss balloons to ₹23,045 crore

• Airtel swung to a ₹23,045 crore loss in the quarter ended 30 Sept from a net profit of ₹118 crore in the year earlier, due to provisions made for an unfavourable court verdict
• Airtel’s revenue from mobile services in India was ₹10,811 crore in the 3 months ended 30 Sept, up from ₹10,724 crore in the June quarter

Vedanta net profit rises 44% on tax writeback

• Revenues in the second quarter of the fiscal slipped 3% to ₹21,739 crore primarily due to lower international prices of zinc and aluminium
• Operating profit (earnings before interest, tax, depreciation and amortization or EBITDA) for Q2 FY20 was at ₹4,497 crore

Dr Reddy’s forays into nutrition segment in India with ‘Celevida’ for diabetics

• Made from soy, ragi and gram flours, Celevida is formulated to have high protein and fibre
• Celevida will be available in two flavors -- Kesar Elachi and Chocolate -- and has been taste tested with over 300 diabetics and pre-diabetics

Govt considers cutting stake in Indian Oil to below 51%

• Government can sell as much as 26.4% its holding in Indian Oil — valued at about ₹33,000 crore — and still retain indirect control
• Shares of Indian Oil have dropped 3.8% this year. The broader benchmark S&P BSE Sensex has risen 11.4% in the period

Moody's affirms RIL's Baa2 ratings with a stable outlook

• Moody's added that the affirmation also incorporates its expectation that RIL's credit metrics will remain appropriate for its Baa2 ratings over the next 12-18 months
• Moody's also affirmed the Baa2 backed domestic currency senior unsecured debt ratings on the dollar-denominated bonds issued by Reliance Holding USA

Vedanta reports 61% jump in quarterly profit as tax gain foils price fall

• Vedanta's net income advanced to ₹2,158 crore ($300 million) in the three months to September from ₹1,343 crore a year earlier
• Net debt reduced by ₹8320 crore during the second quarter and stood at ₹2,008 crore as of Sept. 30

Jet Privilege goes for brand revamp; to be known as 'InterMiles'

• Carved out as a separate entity from Jet Airways, Jet Privilege has close to 10 million members
• Even as Jet Airways faced turbulence before being forced to ground operations, JPPL has been a profitable venture

After Rafale verdict, BJP demands apology from Rahul Gandhi

• The Congress party had tried making a major issue of alleged corruption in the Rafale deal during the 2019 Lok Sabha election
• The Supreme Court on Thursday dismissed the review petition in the Rafale deal

KPMG, NIIT launch finance academy

• The academy proposes to offer programs in finance to fresh graduates and experienced finance professionals
• The finance sector will also need digital finance experts and data scientists to analyse internal and external data to provide critical insights to the business

‘India, China will push Petronas Lubricants into the top-five league’

Petronas Lubricants International (PLI), the global lubricants manufacturing and marketing arm of Malaysia's national oil and gas major Petroliam Nasional Bhd, aims to be among the top five producers of lubricants globally