BENGALURU: Wipro has given a 6-7% average increment to its employees for the year beginning June, according to a person familiar with the matter. This is similar to that given by larger rivals TCS and Infosys, but significantly better than Capgemini's 0.5-1%, which earned the French company much ridicule.

A few months ago, DLF Ltd’s promoters infused funds to trim its ballooning debt through a stake sale in the rental subsidiary. That pulled it out of the debt trap.

But, weak cash flow prospects in the near-to-medium term raise fresh concerns on whether the company can achieve its guided “net zero-debt” milestone in fiscal year 2019 (FY19).

The BSE benchmark Sensex slipped below the key 35,000-mark in early trade today following losses in banking, power, realty and capital goods stocks.

Investors are cautious ahead of RBI’s policy decision due tomorrow, brokers said.

After the first attempt at selling state-owned Air India to private entities failed as the expressions of interest (EoIs) called for by the government received zero bids, aviation research and consultancy firm Capa (India) says the government should divest 100% equity in the airline and not retain a 24% share in the ailing airline.

Tata Motors on Monday became the second company after Mahindra and Mahindra (M&M) to create an electric vehicle vertical which would tap into the full potential of this emerging technology. The company also appointed Shailesh Chandra the head of this vertical. Earlier, the electric vehicle initiative of Tata Motors was being run through a project office.

The rupee was trading lower by 5 paise at 67.16 against the US dollar in early trade today amid caution ahead of RBI’s policy decision tomorrow. Forex dealers said increased demand for the US currency from importers as also the greenback’s gains against rivals overseas put pressure on the rupee.

The analyst meet made us appreciate prospects (1) of CIL outperforming in the key powergen market over the medium term and (2) outsourcing of select engines for India demand boosting bottom-line. Mandates for new export products from parent to CIL are a function of relative scale of Indian demand for such products.

Paving the way for the approval of Idea Cellular and Vodafone India merger, the department of telecommunications (DoT) has cleared the former's proposal to increase foreign direct investment (FDI) limit to 100 per cent in the merged entity.

Idea currently has FDI limit of 67.5 per cent.

Markets regulator Sebi has drastically slashed the 'additional expense' charged by mutual funds to just 5 basis points to help increase the penetration of such products among investors.

The move will help reduce the cost of investing in MFs and industry players believe that it may result in lower commissions for distributors.

Continuing with efforts to clean up its balance sheet, the country’s largest lender, State Bank of India, has put on sale non-performing assets (NPAs) worth over Rs 13 billion. Banks intend to sale these bad loans, covering sectors such as steel and textile on a 100 per cent basis.

There are 12 corporate accounts from branches in Chandigarh, Kolkata and Hyderabad.

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