An ATM of a private bank dispensed five times extra currency notes without deducting the additional amount from the card holder by mistake at Ajitgarh town of Sikar district.

The Axis Bank ATM delivered five times extra cash without deducting it from the bank accounts following which several people gathered there to withdraw money, the bank spokesperson said in a statement.

Software major Tata Consultancy Services (TCS) emerged as the biggest wealth creator in the past five years, while MMTC and Reliance Industries topped the list of companies where investors lost the most, says a study.

According to wealth creation study conducted by financial services company Motilal Oswal, TCS created wealth worth Rs 3,458 billion for the period 2010-15, followed by ITC (Rs 1,565 billion) and HDFC Bank (Rs 1,540 billion).

Benchmark indices are trading in tight range with a negative bias ahead of the October industrial production data, which is scheduled to be released later today. The downside is on the back of selling pressure witnessed in capital goods, realty and banking shares.

At 11:30am, the S&P BSE Sensex was down 100 points at 25,145 and the Nifty50 was down 34 points at 7,649.

Markets have turned range bound in noon trades led by gains in index heavyweights such as Reliance Industries and HDFC. However, profit taking in select pharma and auto shares capped upside gains.

At 1:50 pm, the 30-share Sensex was up 212 points at 25,250 and the 50-share Nifty was up about 60 points at 7,671.

The Nifty closed 2nd consecutive week in positive territory. It was traded in very thin range during week. But it’s slowly inching upwards as anticipated last week. It made high of 7,959.30 levels. All the other indices such as midcap, small cap, bankex, etc, closed weekly in positive territory. Broader market is out performing at current levels of market. Its good sign for bulls for short term till it shows sign of reversal.

Short term out look for the market remains positive till Nifty trades above 7,823 levels & expecting targets in the range of 8,000-8,116 levels in short term. Medium term outlook for the market still remains negative till Nifty trades below 8,655 levels.

Axis Bank, India's third largest private sector bank, has recorded a five-fold growth in digital transaction in the first six months of financial year 2015-16.

“With 16 million strong retail customer base, the bank has conducted Rs 22,000 crore worth of transactions in the first 6 months of the FY16 through its mobile platform," Rajiv Anand, Group Executive and Head of Retail Banking, said here today.

Private lender Axis Bank today said it has joined hands with Tata-SIA joint venture airline Vistara to launch a travel credit card next year under a strategic partnership.

The co-branded travel credit card, to be unveiled early next year, will offer a host of privileges and benefits to the business and leisure travellers of Vistara, Axis Bank said in a release today.

Extending its overseas footprint, Axis Bank today opened a representative office in Dhaka, capital city of Bangladesh.

Indo-Bangladesh trade is growing and opening office in Dhaka would help in leveraging the opportunity, Axis Bank group executive, (corporate relationship group & international business) P Mukherjee said.

The Piramal Group's Piramal Fund Management and Axis Bank have co-funded Rs 550 crore in a mixed-use property project of The 3C Company in Noida, an executive in the know has said. This is the largest real estate debt funding deal in the National Capital Region this year.

While the Ajay Piramal-headed group's arm funded Rs 375 crore in the project, named Delhi One, Axis Bank invested Rs 175 crore which is a structured debt deal, said the executive, who did not want to be identified.

The government’s decision to remove sub-limit restrictions within the overall limit of 74 per cent of foreign direct investment for private sector lenders is seen as a positive for banks such as Axis Bank and YES Bank that have lower foreign investment. Foreign investment in HDFC Bank, however, is close to the overall cap of 74 per cent, and will not gain much because of the move.

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