CHENNAI: As the Indian Space Research Organisation (Isro) is making a second attempt to launch one of the backup satellites to replace NavIC navigation satellite constellation’s IRNSS-1A, whose three rubidium clocks failed, the space agency is taking efforts to install its signal receivers on the ground. Navigation satellite signal receivers which will give positioning and weather alerts to fishermen in deep sea were tested and more such devices will be fitted in boats in Tamil Nadu and Kerala.

New Delhi: HSBC Daisy Investments (Mauritius) Ltd moved the Supreme Court (SC) on Monday, challenging an order of the National Company Law Appellate Tribunal (NCLAT) that cleared the execution of the Rs25,000 crore sale of Reliance Communications (RCom) assets to Reliance Jio Infocomm (RJio).

The matter was mentioned before a bench comprising Justices Adarsh Kumar Goel and Rohinton F. Nariman. The case will be heard on 19 April.

Shares of the Bengaluru-headquartered IT giant Wipro tanked over 2.5% to the lowest level since 28 March 2018 after the company said that client’s insolvency weighs on the profitability and revenue of India’s third-largest IT company Wipro. The stock of Wipro marked the lowest level since 28 March 2018 and the biggest intraday drop since 26 March 2018. Earlier yesterday, Wipro said that the revenue and profitability will be impacted due to an insolvency petition filed by an Indian telecom client.

The SBI has announced the launch of its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of 225 million pounds from its parent entity. India’s largest state-owned bank, which celebrated the new subsidiary with a special event in London yesterday, becomes the first foreign bank in the UK to ringfence its retail division from its wholesale business.

NEW DELHI: Hinduja Group’s flagship truck maker Ashok LeylandNSE -1.33 % expects demand in the segment staying strong and growing by 10-12% in the current financial year boosted by public investments in infrastructural projects and companies that will benefit from the hub-and-spoke model to transport goods post GST.

To cash in on the spike in demand, India’s second largest manufacturer of medium and heavy commercial vehicles (MHCVs) has now outlined aggressive plans to increase market share in light commercial vehicles (LCV).

WhatsApp might share its payment feature data with its parent firm, Facebook. Notably, Mark Zuckerberg's Facebook is currently in soup over data breach row globally. WhatsApp payment has been based upon the Unified Payments Interface (UPI).

WhatsApp launched payments on trial basis for some of its users in February. However, the service is expected to be rolled out for all of its users soon.

Jet Airways reportedly has decided not to participate in bidding for stake in national carrier Air India. According to a report in Business Standard, the Jet Airways management had held discussions with its alliance partners Air France-KLM, Delta, and other investors to put up a proposal. But the airline has now decided to call off its efforts.

The Life Insurance Corporation of India (LIC), which holds about a 9.4 per cent stake in ICICI Bank, and the government’s new nominee on the private lender’s board have called a meeting of the bank’s top management this week. This comes against the backdrop of the recent developments in the ICICI Bank-Videocon case and declining investor confidence.

Shikha Sharma, Axis Bank managing director and chief executive officer (MD & CEO), has decided to step down. She was to start her fourth three-year term on June 1.

The move comes in the wake of the Reserve Bank of India (RBI) asking the private sector lender’s board to reconsider its decision to reappoint Sharma for a three-year term starting June.

He has made an audacious gamble and catapulted himself as the undisputed king of the cricket media business. But the question is whether STAR India boss Uday Shankar (pictured) has overpaid for the cricket media rights and taken a huge risk to get top position.

Last week Shankar grabbed the BCCI (Board of Control for Cricket in India) rights for the international bilateral matches held at home for five years by forking out a staggering Rs 61.38 billion, which is 60 per cent more than what it paid for the same rights earlier.

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