Reliance Industries on Friday reported a strong set of numbers during the July-September quarter, beating estimates on all fronts. Boosted by strong refining and petrochemicals margins, the company’s consolidated net profit excluding exceptional items increased a sharp 12.5% year-on-year to `8,109 crore. The company announced its earnings after market hours.

Gross refining margins (GRMs) for the country’s largest integrated oil and gas major were at a record nine-year-high of $12 per barrel against $10.10 a barrel in Q2FY17, but below estimates of $12.50 a barrel.

The National Green Tribunal (NGT) has provided some relief to 10-year old diesel vehicles by extending their road validity by three years. In an earlier judgement, NGT had banned diesel vehicles older than 10 years from plying on the streets of Delhi/ NCR. The basis for this ban was that the green tribunal believed that diesel vehicles are one of the key contributors to the worsening air quality in Delhi and surrounding regions. Now though, NGT has provided partial relief for diesel vehicle owners with through the three-year extension.

Just two days after Reliance Jio launched its Diwali Dhan Dhana Dhan offer under which it is offering 100% cashback on the recharge of Rs 399, BSNL has now joined the festive Diwali war with its new offer. BSNL offers 50 per cent additional talk time to prepaid users under its ‘Laxmi’ promotional offer on Diwali. The announcement was made by the telecom operator through its Twitter handle, In BSNL’s new Laxmi offer, users will get 50 per cent extra talk time on top-up of Rs 290, Rs 390 or Rs 590. This means that talk value of Rs 435, Rs 585, and Rs 885 will be given on recharge of Rs 290, Rs 390 and Rs 590 respectively.

MUMBAI: The tax department has sought explanations from banks and financial institutions, including multinationals, on transitional credit claimed by them in July under the goods and services tax (GST) regime, two people with direct knowledge of the matter said. Deputy commissioners and assistant commissioners (central tax) have issued ‘information summons’ in the last seven days seeking data in five specific areas “by e-mail/hard copy".

Finance Minister Arun Jaitley has raised the issue of reforms in the H1B and L1 visa processes during his talks with US Treasury and Commerce Secretaries and asked them to appreciate the contributions of Indian professionals to America’s economy.

Jaitley, who is in the US on a week-long tour, held bilateral meetings with his US counterpart and Treasury Secretary Steven Mnuchin and US Commerce Secretary Wilbur Ross. They discussed Indo-US Economic cooperation, in particular, how bilateral trade and investment can be improved between the two countries.

Shareholders of telecom operator Idea Cellular have approved the scheme relating to the merger of its mobile business with Vodafone India, a regulatory filing showed.

Over 99 per cent of Idea shareholders voted in favour of the merger at the shareholders' meeting on October 12, 2017, the filing by the Aditya Birla group firm stated today.

Automobile major Mahindra & Mahindra Ltd (M&M) on Friday launched a new model of its sports utility vehicle KUV100.

The updated version, 'KUV100 NXT', is packed with 40 new features, the company said.

Buoyed by higher margins from its core refining and petrochemical businesses, oil-to-telecoms conglomerat Reliance Industries today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore.

Consolidated revenue increased by 24% to Rs 1,01,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

The Supreme Court, on Friday, referred to a five-judge Constitution bench the matter pertaining to a ban on the entry of women at Kerala’s Sabarimala temple. A bench comprising Chief Justice of India Dipak Misra and Justices R Banumathi and Ashok Bhushan passed the order.

A petition was filed in the Supreme Court by the Indian Young Lawyers Association challenging the custom of the temple to bar entry of women in the 10-50 age bracket (of menstruating age), saying it was discriminatory. The Kerala High Court had upheld the custom in 1991.

The International Cricket Council (ICC) has given the green light to a test championship and one-day international league, while countries are also welcome to experiment with four-day tests, the world governing body said on Friday.

A test championship has long been mooted as a means to make the longest form of the game more relevant for fans who have increasingly turned towards limited-overs matches.

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