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BusinessPhoto: Mint CompaniesReliance Industries stated it welcomes competition, including from Starlink, and has never feared rivals. The company emphasized that all satellite communication providers must comply with Indian laws and policies. It also noted that Jio’s own satellite services are currently awaiting government clearances.
Mint Companies·
BusinessPhoto: TOI BusinessA woman retired from Life Insurance Corporation of India (LIC) on June 30, 2020, after over 30 years of service. She received Rs 9.04 lakh as leave encashment along with other retirement benefits. While filing her income tax return, she claimed exemption on the entire leave encashment amount. The Income Tax Appellate Tribunal (ITAT) allowed the exemption of Rs 9.04 lakh, overturning the taxman's cap of Rs 3 lakh.
TOI Business·
BusinessPhoto: Mint MarketsShares of IDBI Bank dropped sharply after the Indian government and LIC approved selling their 60.72% stake to Fairfax Financial Holdings for ₹52,878 crore, valuing shares at ₹81 each. The stock opened higher but fell due to profit booking. Experts say the deal could transform IDBI Bank into a diversified financial services firm offering banking, insurance, and investment services.
Mint Markets·
BusinessPhoto: NDTV BusinessInvestors are closely watching the Q2 earnings reports from major companies including DLF, Punjab National Bank, Bajaj Housing Finance, Federal Bank, LTM, Oberoi Realty, and Tejas Networks. These results cover sectors like real estate, banking, consumer, telecom, and technology for the September quarter, providing key insights into their financial performance.
NDTV Business·
WorldPhoto: Hindustan TimesDelhi will open seven new children's theme parks between November and January, featuring unique themes like insects, peacocks, octopuses, and marine life. Developed under the AMRUT scheme, these parks include interactive sculpture play installations. Locations include Saket, Mayur Vihar, Karol Bagh, Greater Kailash-II, and Swasthya Vihar. The insect and aeroplane-themed parks will open first, with all seven operational by January.
Hindustan Times··Delhi
PoliticsPhoto: News18 HindiUnder the Make in India initiative, the Indian Navy will commission a new indigenous multi-purpose warship named 'Samarthak' on October 16 at the Karwar naval base in Karnataka. Built by Larsen & Toubro, it is the first in a series of four vessels. 'Samarthak' will support surveillance, drone deployment, weapons testing, disaster relief, and limited medical aid. Its emblem features an elephant and the motto 'Vijayartham Ekanishthata'.
News18 Hindi··Karwar
Mint Companies·
Photo: Mint CompaniesReliance Industries stated it welcomes competition, including from Starlink, and has never feared rivals. The company emphasized that all satellite communication providers must comply with Indian laws and policies. It also noted that Jio’s own satellite services are currently awaiting government clearances.
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