New Delhi, Apr 25 () LIC employees will soon get an off on every second and fourth Saturdays of a month with the government approving their long-standing demand.

According to official sources, this is in line with the practice followed for public sector banks.

Bengaluru: Even as Walmart Inc. inches closer to a deal to buy a majority stake in Flipkart, the board of India’s largest online retailer will keep Amazon as an alternative suitor in case the proposed sale to Walmart falls through, two people familiar with the matter said.

The benchmark BSE Sensex started on a negative note, shedding over 100 points on Wednesday, on weak global cues and rupee depreciation against the U.S. dollar.

Asian shares fell across the board, following an overnight drop in U.S. stocks. Rising U.S. bond yields and crude oil prices too worried investors.

MUMBAI: The stock market regulator will soon pass a final order on whether former liquor baron Vijay Mallya can hold board positions in listed companies, which will also end the country’s largest beer maker United Breweries’ long wait for a full-time chairman.

Mallya — who the Indian government has been trying to extradite from Britain over charges of fraud for the past few years — has been reluctant to nominate a successor or step down from the board of United Breweries (UBL), a joint venture between him and the world’s largest brewer Heineken International.

Tata Consultancy Services Ltd. maybe basking in the afterglow of joining the $100-billion club, but it is the company’s rival Infosys Ltd. that is a preferred buy for analysts.

Of the 44 analysts covering both companies, 38 have a buy or equivalent rating on Infosys, India’s original poster child for software development. This compares with 19 buys for TCS, Asia’s largest software exporter, according to data compiled by Bloomberg.

The Government of India, the Government of Madhya Pradesh and the World Bank signed a 210 million dollar loan agreement for the Madhya Pradesh Rural Connectivity Project.

The project is expected to improve the durability, resilience, and safety of the gravel-surfaced rural roads and enhance the capacity of the state to manage its rural roads network.

Even as the January – March 2018 (Q4FY18) results failed to enthuse investors, most analysts have given a thumbs-up to the three-year road-map laid out by Infosys to accelerate growth in the digital segment.

Infosys, which detailed its strategy to analysts in post market hours on Monday, also reiterated its capital allocation policy of returning up to 70 per cent of free cash flow (FCF) with periodic review of return cash balances.

In a relief to incumbents, including Bharti Airtel and Idea Cellular, and a setback to newcomer Reliance Jio, the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Tuesday imposed an interim stay on the clauses of the Telecom Regulatory Authority of India’s (Trai’s) order relating to reporting requirements and the new definition for ascertaining “significant market power” (SMP). The tribunal did not, however, grant a stay on the whole regulation on predatory pricing.

At a time when the policy repo rate is at 6 per cent and three-month government treasury bills are trading at 6.15 per cent, India’s biggest company, Reliance Industries, raised Rs 15 billion of three-month money on Monday at 7.1 per cent.

About the same time last year, Reliance was raising money for two to three months at 6.13-6.15 per cent, much closer to the prevailing treasury bill rate. On Tuesday, Godrej Industries raised money through three-month commercial paper at 7.12 per cent.

The government of Jammu and Kashmir has decided to implement the recommendations of the seventh pay commission. With this move Jammu and Kasmir has become first state to do so. The J&K employees would get their revised salaries from this month. The J&K government announced the good news from its twitter handle on Tuesday.

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