Not because I missed the great run-up (though I did) and not because I fear that the bitcoin bubble will end badly (it will, but that’s not my problem). Rather, it is because I have been waiting for decades for someone to invent a purely digital currency, a currency for online purchases that wasn’t linked to a credit card. It was the killer app (as we used to say) that no one ever figured out.

The benchmark BSE Sensex recovered 70 points in opening trade on gains in IT, banking and auto stocks despite weak Asian cues.

The 30-share index, which had lost 72.46 points in the previous session, recovered by 70.65 points or 0.20 per cent to 34,841.70 in a volatile trade.

Baba Ramdev-led Patanjali Ayurved on Tuesday announced its partnership with eight e-commerce companies in a move to push sales of its products. Accordingly, the entire range of Patanjali products would now be available on the platforms of Amazon, Grofers, Shopclues, Flipkart, BigBasket, 1mg, Paytm Mall and Netmeds. Earlier too, Patanjali products were available on e-commerce platforms, but they were sourced from either the company’s distributor Pittie Group or its brick-and-mortar stores.

India’s largest IT services exporter Tata Consultancy Services (TCS) continued with its spree of signing large deals with the latest being a $690-million contract spread over 10 years with UK-headquartered M&G Prudential. M&G Prudential is the savings and investments business of Prudential and now, TCS will administer the former’s 4 million life and pension contracts by moving it onto a digital platform. Earlier, this contract was managed by Capita, an IT outsourcer based in the UK.

Infosys has delivered a subdued performance with its revenue growing by 1% q-o-q (0.8% q-o-q in CC terms) to $2,755 million in 3QFY18, which is a seasonally weak quarter. Its EBIT margin expanded by 10 bps q-o-q, owing to improved operational efficiency and higher utilisation. While volume grew by a decent 1.6% q-o-q, blended billing rate declined by 0.7% q-o-q. From vertical perspective, BFSI continued to remain under stress with revenue growing by a meagre 0.1% q-o-q.

Actor Kamal Haasan announced that at the beginning of his political tour, he would reveal the name of his political party and the principles of the same.

The actor, who released a detailed plan of his tour across the state, said it will commence on February 21 and will be undertaken in multiple phases.

A fortnight ahead of the Union Budget, the Goods and Services Tax (GST) Council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. Amendment in rules may also be taken up to simplify filing and plug some of the loopholes. A fitment committee of officers has made these recommendations to the Council, which will meet on Thursday.

With the aim to boost struggling agriculture and rural economy, and encourage clean energy, the Council is expected to rationalise rates of agriculture implements and unconventional fuel buses.

Mutual fund managers since April last year have sold around 3.6 million shares, worth nearly Rs 30 billion, of India’s largest car manufacturer Maruti Suzuki. They plan to continue to prune its holdings as valuations appear stretched after the last year’s stellar rally.

In 2017, shares of Maruti Suzuki jumped 83 per cent, even as the benchmark Sensex gained 28 per cent.

The volumes of medium and heavy commercial vehicles (M&HCVs), which bring the bulk of revenue to companies like Tata Motors and Ashok Leyland, stood at a multiple year high in 2017.

A Tata Motors spokesperson said the domestic CV industry witnessed challenge in the initial months of FY18 due to demonetisation (implemented in November 2016).

The Securities and Exchange Board of India (Sebi) is looking at whether Tata Sons’ plan of becoming a private limited company from a public one would impact shareholders, especially minority shareholders of listed Tata entities that own shares in Tata Sons.

If the company were to become a private one there would be restrictions on these listed firms to sell or transfer their stake to any entity.

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