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Top news of Oct 11: RIL hits fresh record high, Akasa Air set to take off next summer and more

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Here are the top news from the world of business, economics, national and international politics and more, handcrafted for you by the CNBC-TV18.com team.

Top news of Oct 11: RIL hits fresh record high, Akasa Air set to take off next summer and more
While the stock markets are illuminated with fresh 52 week and all-time highs, the power situation, especially in certain pockets of India, is an area of concern. Shares of Reliance Industries Ltd (RIL) rose two percent on Monday, hitting an all-time high of Rs 2,724.70 after the conglomerate announced two acquisitions over the weekend. Interglobe Aviation has been rallying in the recent past and the stock closed 4.7 percent in the green on Monday trading at Rs 2055 a share. For all these stories and everything in between, here are some top news of the day
ECONOMY/BUSINESS
Rakesh Jhunjhunwala-backed Akasa Air gets NOC from Aviation Ministry; flights to begin by 2022
Akasa Air, the airline venture promoted by billionaire investor Rakesh Jhunjhunwala, has received the no-objection certificate from the Ministry of Civil Aviation, the holding company SNV Aviation Private Limited said on Monday. Continue Reading
GST breather for gaming industry, casinos and racecourses operating in India
In a major development for the online gaming industry, casinos and racecourses operating in the country, the GST Secretariat has asked GST Council to issue clarity on the GST rate and the applicability of the levy on these services, sources told CNBCTV18. This follows a directive from the Punjab Haryana High Court to the effect. Read more
Indian economy on path to swift recovery: Finance Ministry report
Strategic reforms and the rapid vaccination drive has placed the country on the path to swift recovery by enabling the economy to "navigate the ravaging waves" of the COVID-19 pandemic, according to the Finance Ministry's Monthly Economic Review. Sustained and robust growth in agriculture, a sharp rebound in manufacturing and industry, resumption of services activity and buoyant revenues suggest that the economy is progressing well, the September review said. Read more

MARKETS
RIL hits fresh record high on green push; shares up 2% after stake acquisition in REC Solar, Sterling & Wilson
Shares of Reliance Industries Ltd (RIL) rose two percent on Monday, hitting an all-time high of Rs 2,724.70 after the conglomerate announced two acquisitions over the weekend. RIL was also the biggest contributor to Nifty gains today, offsetting losses from TCS and Nifty IT. Read more
Kotak Institutional Equities raises Interglobe Aviation target price; here’s why
Interglobe Aviation has been rallying in the recent past and the stock closed 4.7 percent in the green on Monday trading at Rs 2055 a share. Indigo's parent company has rallied 8 percent in the last month and an impressive 30 percent in the past six months. The stock is now just 10 percent away from its 52-week high of Rs 2,300. Read more
Nifty off Mount 18k but ends at record 17,946 as market extends gains to third day; IT shares slump
Indian equity benchmarks surged to fresh peaks on Monday, extending a winning run to the third trading session in a row. Gains in banking, automobile, metal and consumer goods shares pushed the headline indices higher, but sharp losses in the IT basket limited the upside. Analysts awaited more quarterly financial results from India Inc for domestic cues, after TCS kicked off the earnings season last week. Read more

WORLD
Who was Abdul Qadeer Khan, ‘father of Pakistan’s nuclear bomb’?
After India conducted a nuclear test in 1974, Khan reportedly wrote to Pakistan's then Prime Minister Zulfikar Ali Bhutto and joined his nation's clandestine efforts to develop nuclear power. Continue Reading
China says it carried out beach landing drills in province opposite Taiwan
China's military said on Monday it had carried out beach landing and assault drills in the province directly across the sea from Taiwan, though it did not link the exercises to current tensions with Taipei. Continue Reading 
Vietnam COVID-19 curbs hit factories, workers; top brands suffer in holiday season
The COVID-19 pandemic has forced the Vietnamese government to shut down factories, disrupting global supplies of apparel, electronics, automobiles and shoes to some of the top brands in the US. Continue Reading

INDIA
Home Minister Amit Shah holds meet with Power, Coal ministers amid blackout concerns
Union Home Minister Amit Shah on Monday held a meeting with Power Minister R K Singh and Coal Minister Pralhad Joshi amid reports of the ongoing coal shortage in the country. Continue Reading 
Ladakh standoff: India-China 13th Commander-level talks fail to defuse border tensions
Talks between Indian and Chinese army commanders that held at Chushul-Moldo border on Sunday to disengage troops from key friction areas along their border have failed to ease a 17-month standoff. Continue Reading
Five Army personnel killed in gunfight with terrorists in Poonch district
Five Army personnel, including a Junior Commissioned Officer (JCO), were killed in a fierce gunfight with terrorists during an anti-insurgency operation in Poonch district of Jammu and Kashmir on Monday. Continue Reading 

YOU & I 
SBI customers can now file their ITR for free through YONO; here’s how
The State Bank of India (SBI) customers will now be able to file their income tax returns (ITR) for free using the bank's YONO app. The country's largest lender allows its customers to use Tax2Win through the app to file ITR. Read more
MG Motor forays into mid-size SUV segment; launches Astor at Rs 9.78 lakh
MG Motor India on Monday said it has launched a new model Astor, priced between Rs 9.78 lakh and Rs 16.78 lakh (ex-showroom Delhi), thus foraying into the fast-growing mid-sized SUV segment in the country. The model, which would compete with the likes of Hyundai Creta, Kia Seltos and Skoda Kushaq, comes with a personal AI assistant and first-in-segment Autonomous (Level 2) technology. Read more
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