quick reads

The business wrap: Nandan Nilekani says Aadhaar saved $9 billion for Centre, and 7 other top stories

Other headlines: Jaypee Associates told SC that it wanted to sell the Yamuna Expressway, and TCS announced an 8.4% rise in its second-quarter net profit.

A look at the headlines in the sector:

  1. Government saved $9 billion through Aadhaar, kept fraud under check, says Nandan Nilekani: The architect of the UIDAI programme said cashless transactions had brought down the costs for the government.
  2. Jaypee Associates asks Supreme Court if it can sell Yamuna Expressway to pay homebuyers: On September 11, the Supreme Court had asked the debt-ridden firm to deposit Rs 2,000 crore with the court’s registry.
  3. TCS net profit increases by 8.4% in second quarter to Rs 6,446 crore: However, the profit dropped 2.1% year-on year, with the company reporting a net profit of Rs 6,586 crore in July-September 2016.
  4. Samsung Electronics CEO Kwon Oh-hyun resigns, says company faces ‘unprecedented crisis’: He was expected to take a bigger role after the company’s heir Lee Jae-yong was arrested after being convicted in a corruption case.
  5. Idea shareholders approve merger plan with Vodafone India: Over 99.9% of the shareholders voted in favour of the deal in a meeting on Thursday.
  6. Sensex gains 250 points, Nifty touches record high after steady inflation, higher industrial output: The rupee appreciated 18 paise to 64.90 against the dollar, further boosting the rally.
  7. SC threatens to imprison those who try to obstruct the auction of Sahara’s Aamby Valley: The court’s comments came after Sebi said that the Sahara Group had raised the issue of law and order on the property with the Pune Police.
  8. Paris plans to phase out all petrol, diesel cars by 2030: The city’s administration said this decision was in line with France’s plan to ban engine vehicles across the country by 2040.
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