Axis Bank hit a fresh 52-week high of Rs 565, up 4% on the BSE in early morning trade, after the private lender's board of directors on Friday agreed raising of Rs 11,625 crore through the issue of preferential equity shares and convertible warrants to Bain Capital, Life Insurance Corporation of India (LIC) and others. The bank made announcement on Friday after market hours.

Axis Bank said it proposes to raise equity and equity-linked capital of Rs 11,626 crore from a set of marquee investors including entities affiliated with Bain Capital Private Equity and the Bank’s promoter Life Insurance Corporation of India.

The Supreme Court agreed to hear on Monday itself a fresh plea seeking to curb rising pollution in Delhi and the national capital region (NCR).

A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud considered the submission of lawyer R K Kapoor that rise in dust particles on roads, stubble burning in Delhi’s neighbouring states like Haryana and Punjab have led to an alarming rise in pollution levels in the NCR and its adjoining areas.

Larsen & Toubro (L&T), which was among companies barred from bidding for the National Highways Authority of India (NHAI) projects a fortnight back, sees an amicable solution to the row.

Meanwhile, it will continue to bid for projects that come along.

Oil and Natural Gas Corporation Ltd (ONGC) is not yet clear about the valuation of Hindustan Petroleum Corporation Ltd (HPCL), the oil marketing company it expects to acquire by around March next year.

The country's largest driller is working independently to arrive at a fair price for the deal.

A grouping of stockbrokers has termed Sebi’s directive of compulsorily keeping records of telephonic communications with clients as “not practical” since that would be difficult in terms of identification and retrieval.

Voicing concerns over the directive, the Association of National Exchanges Members of India (ANMI), in a letter to Sebi, also said monitoring of communications with clients would be difficult as multiple modes, including mobile phones and WhatsApp messenger, are used for placing orders.

Mukesh Ambani’s Reliance Industries (RIL) is to increase its presence in the polyester space after the launch of its new brand, RElan, through which it will get into co-branding of apparel. The largest manufacturer of polyester in the country, it has an annual capacity of 2 million tonnes (mt), almost half the country’s 4.5 mt. The firm expects 5 per cent yearly growth in this segment. China, with 45 mt manufacturing capacity out of 70 mt globally, is much ahead of India.

For RElan, the new portfolio of speciality fabric, the firm has tied up with VF Corporation of America, owner of the world’s largest denim brand, Wrangler, to launch by the coming February the Inficool denim range. “We are in talks with at least five leading domestic and international apparel brands to co-brand with the RElan brand.

Debt-laden Air India has received a loan worth of Rs 1,500 crore from Bank of India to meet urgent working capital needs less than a month after floating a tender in this regard, an airline source said.

For the second time in recent months, the flagship carrier has received loans from a public sector lender.

Telecom majors Vodafone India and Idea Cellular have agreed to sell their respective tower businesses in India to ATC Telecom Infrastructure Private (ATC TIPL) for Rs 7850 crore or $1.2 billion. The two operators have about 20,000 towers.

Vodafone and Idea are in the process of merging operations to create the largest mobile operator in the country.

To study microgravity’s effect on bacterial antibiotic resistance, scientists are set to send E. coli, a common bacterial pathogen linked to urinary tract infections and foodborne illnesses, to the International Space Station (ISS).

The E. coli AntiMicrobial Satellite (EcAMSat) mission is scheduled to launch to the ISS on Orbital ATK’s Cygnus cargo spacecraft on Saturday along with a slew of other science experiments and supplies for the Expedition 53 crew, Space.com reported.

Engineering conglomerate Larsen and Toubro (L&T) on Saturday reported a rise of 31.86 per cent in its consolidated profit after tax (PAT) for the second quarter (Q2) ended September 30.

The company’s PAT for the quarter stood at Rs 2,020.30 crore against Rs 1,532.15 crore reported during the corresponding quarter of the previous year.

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