A look at the headlines in this sector right now:

  1. Airtel reports 55% drop in Q3 net profit, blames Reliance Jio’s ‘predatory pricing’ for slump: The telecom major’s total revenue also declined by 3% to Rs 23,336 crore.
  2. Sensex up 300 points, Nifty closes on three-month high as markets rise for third straight session: Financial stocks saw some of the biggest gains during intra-day trading on the back of strong quarterly results.
  3. Chief ministers’ panel recommends tax on withdrawals above Rs 50,000: In its interim report, the committee suggested that the Merchant Discount Rate should either be slashed or done away with.
  4. CBI files chargesheet against Vijay Mallya and 11 others in IDBI loan default case: The agency has sought the judicial custody of the accused, saying they may tamper with the evidence or flee the country.
  5. Dubai-based Indian businessman pledges $1 million to help free debt prisoners in UAE: So far, Firoz Merchant has used the money to help with the release of 132 inmates from Ajman Central Jail.
  6. Samsung’s Q4 profits double despite Note7 battery fires and investigation against chief: The company made $6.1 billion (around Rs 41,532 crore) during the period, its highest in three years.
  7. Indians are the world’s largest hoarders of gold, finds study: Households in the country hold a record 23,000-24,000 tonnes of the yellow metal worth $800 billion, according to the World Gold Council.