Airtel share price jumped over 3 percent intraday on December 4 after the telecom major pipped Reliance Jio in new mobile subscriber addition in September after a gap of four years. Bharti Airtel led mobile subscriber growth in September 2020 with a net addition of 3.77 million new customers. Reliance Jio led the market in terms of overall mobile subscriber base with 404.12 million customers.

Shares of IRCTC today zoomed amid high volumes as covid vaccine related optimism continue to boost travel related stocks. IRCTC shares rose 11% to ₹1530.50. Shares of India's biggest airline operator InterGlobe today surged 5% to ₹1732 while SpiceJet jumped 9% to ₹88.25. IRCTC shares have rebounded sharply from its March lows of ₹774.

Fitch Ratings on Thursday affirmed its 'BBB-' on India's four state-run lenders, SBI, BoI, BoB and PNB with a (-)ve outlook. Issuer default rating (IDR) of IDBI Bank is affirmed at 'BB+' (lower than ‘BBB-‘) with (-)ve outlook. According to Fitch, the operating environment for Indian banks remains challenging despite a moderate revival in economic activity due to gradual easing of the lockdown.

IndiGo CEO Ronojoy Dutta on Thursday announced that the airline will remove its LWP program for senior employees from Jan 1. On May 8, IndiGo had also implemented pay cuts for its senior employees ranging from 5-25% . The pay cuts are still in place. In an email sent to employees on Thursday, he said, "At this point of time, it looks like we are on a path to a graduated and measured recovery..."

India’s economy, severely affected by the coronavirus pandemic, is gradually recovering, the International Monetary Fund said on Thursday. India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand.

A bankruptcy court on Thursday approved Reliance Jio Infocomm Ltd’s resolution plan for Reliance Infratel Ltd, in some relief for lenders who stand to receive about ₹4,400 crore for its tower and fibre assets. Reliance Infratel is a unit of bankrupt Reliance Communications Ltd (RCom). Reliance Jio, owned by Asia’s richest man Mukesh Ambani, had bid for only this subsidiary of RCom.

India's economy will return to growth in 2021-22, Finance Minister Nirmala Sitharaman told Reuters. “I would think 2021-22 will be very big, good traction year for achieving a really good rate of growth that itself is going to be a launching pad for 4-5 years of growing at a good speed, provided we do enough on the budget and spend on infrastructure,” she said.

Fintech startup Stripe said on Thursday it has partnered with Goldman Sachs Group Inc and Citigroup Inc, among others, to launch banking services. The software, known as Stripe Treasury, embeds financial services using application programming interfaces (APIs) onto Stripe's platform, allowing its customers to send, receive and store funds, the company said.

IT major Cyient on Thursday said it is seeing “significant acceleration” in 5G rollouts, and telecom carriers are bringing forward  their investment plans to roll out network for the high-speed service. Cyient Senior Vice President and Head (Communications and Utilities) Prabhakar Atla said Communications is one of the company’s largest business verticals and is an area of strategic focus.

Domestic carriers are expected to post losses to the tune of Rs 21,000 cr this fiscal as against a net loss of Rs 12,700 cr last fiscal, ratings agency Icra said. The recovery in domestic passenger traffic is contingent on factors such as containment of the COVID-19 pandemic, willingness of consumers to undertake leisure travel, recovery in macroeconomic growth, and recovery in business travel.

Global credit ratings agency Moody's has downgraded the corporate family rating of Anil Agarwal-owned Vedanta Resources Limited (VRL) to B2 from B1. Moody's has also downgraded the ratings on the senior unsecured bonds issued by VRL and those issued by Vedanta Resources Finance II Plc (VRF) and guaranteed by VRL to Caa1 from B3, the agency said in a press release.

Canara Bank has raised its rates by 0.2 per cent for fixed deposits having a maturity period of at least two years. With the increase, fixed deposits with tenure of two years but less than three years will now fetch 5.4 per cent from a rate of 5.2 per cent earlier, the bank said in a statement on Thursday. Senior citizens are offered 0.50 per cent extra on the revised rates, the statement said.

Ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala, and group companies increased shareholding in construction firm NCC to 13.7 percent. "From November 4, 2014 till December 3, 2020, persons acting in my concert have acquired total 1,25,51,168 equity shares of NCC. This amounts to acquisition of more than 2 percent of total paid-up equity of NCC," said Jhunjhunwala in his statement.

FreshToHome (FTH), which sells fresh fish & meat online, on Thursday said it aims to more than double its revenue to Rs 1,500 cr over the next 12 months driven by growth across business, including its ‘FTH Daily’ service. FTH Daily, which is currently available in Bengaluru, Pune & Hyderabad, is a daily service for delivering milk, groceries, fruits, vegetables, bakery items and daily essentials.

The Delhi High Court has issued a notice to DBS Bank India in connection with the ongoing Rs750 crore Religare Finvest Ltd (RFL) deposit case with erstwhile Lakshmi Vilas Bank (LVB). DBS has been given five weeks to respond to the notice. On 27 November, the LVB-DBS merger came into effect as per the amalgamation scheme notified by the government and the Reserve Bank of India (RBI).