Shares of Larsen & Toubro (L&T) were up 4 per cent to Rs 1,337 apiece on BSE in the early morning trade in an otherwise weak market after the company reported 37 per cent year-on-year (YoY) rise in consolidated net profit at Rs 2,042 crore in December quarter (Q3FY19). The healthy performance during the quarter was on back of improved operating performance and a higher other income.

Twenty months since the launch of the goods and services tax (GST), tax officials under state governments are still struggling to handle the large assessees that have come into their fold, especially the service providers and small manufacturers. This has resulted in the twin issues of high revenue leakage and denial of input tax refunds to eligible taxpayers, mostly service exporters, several industry sources and analysts tracking the GST system told FE, recounting anecdotes.

The GMR Group on Thursday announced the introduction of ‘GMR Aero Square’ in the Hospitality District of Delhi International Airport Limited. In a unique concept for Indian airport, GMR Aero Square offers easy access to the commercial hubs of Aerocity from public places. It has been developed amid lawns and landscape leading to Terminal 3 of the IGIA.

Domestic equity market on Thursday witnessed moderate recovery after choppy trade as both Sensex and Nifty reversed their two-day losing spell on the back of gains in heavyweights RIL, ITC and Yes Bank.

During the session, the BSE benchmark Sensex swung over 260 points both ways on alternate bouts of buying and selling by participants.

Even though only 40% customers have registered their channel choices under the new tariff guidelines that kick in from February 1, the Telecom Regulatory Authority Chairman R.S. Sharma on Thursday expressed confidence that service providers will be able get options from all their subscribers within a week.

Under a starry night and a waning gibbous moon, ISRO’s PSLV C-44 broke the silence over a brimming Pulicat lake as it lifted off from Satish Dhawan Space Centre, SHAR, to successfully place into orbit a military satellite, Microsat-R.

The mission with the modified PSLV with just two strap-on motors, dubbed the PSLV-DL (dual strap-ons), marked another first for ISRO as it provided an alternative to its normal six strap-on motors.

Microsoft Corp.’s search engine Bing was blocked in China due to an accidental technical error rather than an attempt at censorship, according to people familiar with the matter, and the search engine is once again accessible in the country.

The government had no intention to block Bing when it stopped working this week, according to two people with knowledge of the matter who asked not to be identified discussing confidential information.

In a bid to expand its horizon in long-term validity prepaid plans, Mukesh-Ambani led Reliance Jio has announced two new packages worth Rs 594 and Rs 297. The newly launched Reliance Jio long validity prepaid packs have been specially launched for JioPhone users. Both the prepaid JioPhone plans offer unlimited high-speed internet, complimentary subscription to Jio Apps and 300 SMS.

A section of public sector bankers Thursday raised questions about the RBI seeking powers to regulate state-owned banks saying it apparently failed to act against officials in the ICICI Bank-Videocon matter despite claiming to have enough powers to deal with private sector lenders.

Against the backdrop of CBI Thursday naming former ICICI Bank chief Chanda Kochhar and others in the alleged quid pro quo in extending Rs 3,250-crore loan to Videocon Group,

Tata Motors has no plans to invest and upgrade Ratan Tata's dream car Nano to meet BS-VI standards, a senior company official said Thursday indicating that the production and sales of the vehicle would stop from April 2020.

"Nano is produced at our Sanad plant (Gujarat)....in January new safety norms came, in April some more new norms will come and in October new safety norms will come and BS-VI is going to happen from April 1 of 2020, so all products may not meet (BS-VI norms) and we may not invest in upgrading all the poducts.

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