News digest: RIL Q2 earnings, telecom meltdown, and more

From trade deficit narrowing to $8.98 bn to Nifty closing at a new record high, BS brings you up to date with latest news

RIL Q2 earnings: Jio surprises with operating profit

In its first quarter of commercial operations, Reliance Industries Ltd’s (RIL’s) telecom business, Jio, sprang a surprise by posting a profit of Rs 1,443 crore at the operating level for the three months ended September. The strong profitability of RIL's petrochemicals business, with profit margins at a 10-year high, was another surprise element. Read More

Bharti-Tata Tele deal: Sunil Mittal's 14-yr-old prophesy looks real today

Nearly 14 years ago, Bharti Airtel Chairman Sunil Mittal had said in an interview that eventually there would not be more than four players in the telecom sector. With the announcement of merger between the Tatas' wireless business and  Bharti Airtel, Mittal's prediction is fast turning out to be a reality. Read More

Trade deficit narrows to 7-month low of $8.98 bn in Sept; exports rise 26%

Exports grew at a six-month-high rate of 25.7 per cent in September year-on-year, maintaining the momentum of 13 months of interrupted rise and despite the problems of getting refunds under the goods and services tax (GST) regime. Read More

Cube Highways eyes Jaypee's Yamuna Expressway Project

Singapore-based Cube Highways is in discussions with Jaypee Infratech and IDBI-led lenders to take over the 165-km Yamuna Expressway Project, sources familiar with the developments said. The Manoj Gaur-promoted company told the Supreme Court on Friday that it had an offer from a company to buy the project, without naming the bidder. Read More

Nifty hits fresh peak on recovery hopes

The benchmark Nifty closed at a new record high on Friday after economic data surprised positively. The rupee ended three-week high of 64.93 against the dollar, while the yields on the 10-year benchmark government security softened two basis points to 6.73. Read More