Key indices on Monday opened lower tracking mixed Asian cues. The 30-share BSE Sensex was down 229.59 points at 33,963.06 and the 50-share NSE Nifty fell 66.20 points to 10,414.40. Shares of reliance Industries and Infosys also pressurized the indices to trade in red.

The combined entity of Vodafone-Idea merger may lead to a massive layoffs. According to an Economic Times report, the ongoing merger process of Vodafone India and Idea Cellular could see about a fourth of the telcos’ combined 21,000-strong workforce lose jobs in the next few months as the companies look to save on costs, eliminate duplication and improve efficiency.

The Supreme Court has slapped a penalty of Rs 110 million on Gurgaon-headquartered renewable energy company ReNew Power for delaying the commissioning of a 51-Mw solar power project in Madhya Pradesh by more than 210 days. The court, however, set aside the cancellation of the power purchase agreement (PPA) which the MP government had initiated.

In a speech made at Reliance Industries' annual general meeting last year, Chairman Mukesh Ambani had indicated that the group's telecom venture, Reliance Jio Infocomm, was on track to offer high-speed broadband services and it would be the company’s next big monetisation opportunity. Now, according to a news report in Livemint, the telecom operator is expected to launch the wired fibre-to-the-home (FTTH) broadband services by the end of this year.

Infosys' constant currency revenue growth guidance of 6-8% year-on-year (y-o-y) for FY19 was on expected lines. The marginal beat can be ascribed to a weaker exit in 4Q (0.6% CC) than our expectation (1.5% CC). This implies that the compounded quarterly growth rate (CQGR) will be better if the guidance is met.

To meet its guidance range of 6-8% y-o-y constant currency (CC) revenue growth in FY19, Infosys will have to clock a CQGR of 1.8-2.5% in the next year.

Prime Minister Narendra Modi on Saturday inaugurated the first Health and Wellness Centre in Chhattisgarh’s restive Bijapur district to mark the launch of first phase of national Ayushman Bharat Yojana.

Under the Ayushman Bharat Yojana, the government aims to set up 150000 wellness centres by 2022 that will leverage on comprehensive primary health care for preventive, promotive and curative care.

NEW DELHI: The Central Bureau of Investigation has registered a case against former Chairman-cum-Managing Director (CMD) of UCO Bank – Arun Kaul and two private companies – Era Engineering Infra India Ltd (EEIL) and Altius Finserve Pvt Ltd and their directors and few chartered accountants for allegedly cheating the public sector bank of Rs 621 crore.

The US has decided to review India’s eligibility to enjoy duty-free access for certain products in the American market under a tax benefit scheme.

As many as 3,500 Indian products from sectors such as chemicals and engineering get duty-free access to the US market under the Generalized System of Preferences (GSP), introduced in 1976.

The one-day strike called by the four central trade unions of Coal India Ltd on April 16 against the government move of allowing commercial coal mining, has been withdrawn due to lack of cohesion among themselves, a union leader today said. Coal India officials too confirmed that the strike has been called off. The four central trade unions of CITU, BMS, HMS and AITUC had served the strike notice on March 14.

Mobile payments app Paytm is open to any kind of regulation, including one that the telecom regulator may want to bring in, to ensure that data of its consumers is safe and secure, its founder said, breaking away from the crowd of app makers, most of which have expressed their reservation against any regulation.

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