Iam an Indian citizen and studying in Ukraine. I want to go back India so I am planning to fly Azerbaijan airlines through BAKU. Do I need a transit Visa for the connecting flights?
Timatic is the best source for such queries, which says that you don't need a visa.
It is also confirmed in the FAQ of Official Electronic Visa Portal of Azerbaijan:
Do I have to obtain a visa if I do not leave the international transit area?
No. You do not have to get a visa if you are not going to leave the international transit area.