Wipro’s IT services revenue stood at Rs 13,169 crore, a sequential growth of just 1% while in constant currency terms, the increase was a mere 0.3%. In dollar terms, revenues for Q2FY18 were up 2.1% sequentially.

A reasonably good performance in the September quarter notwithstanding, software major Wipro on Tuesday toned down revenue guidance for Q3FY18 to 0-2%. Analysts said the downward revision reflects the subdued demand environment though the Wipro management attributed it to seasonal holidays during this period.

In the second phase of panachayat election in Maharashtra, the BJP did magnificently to win 1311 seats followed by Congress who finished a distant second with 312.

Sharad Pawar’s NCP came third with 297, while the Sena managed to capture 295 seats.

A total of 3692 gram panchayats spread over 16 districts went to polls in the second phase.

The stock dipped 7% to Rs 475 on the BSE in early morning trade.

Axis Bank dipped 7% to Rs 475 on the BSE in early morning trade after the bank’s asset quality worsen in July-September 2017 quarter (Q2FY18).

The bank’s gross non-performing assets (NPAs) and net NPAs stood at 5.9% and 3.12% in Q2FY18 against 5.03% and 2.30% in Q1FY18, respectively. In the year-ago quarter, gross NPAs were at 4.17% and net NPA were at 2.02% of the loan book.

Priced at Rs 2,200, the Bharat-1 feature phone costs a tad higher than Reliance JioPhone, but the effective ownership cost of the phone after 3 years of use is lower than that for JioPhone Targeting the 500 million feature phone users of India, Micromax on October 17 launched the Bharat-1, a 4G LTE-enabled feature phone with true smartphone like capabilities, in partnership with BSNL.

Priced at Rs 2,200, the Bharat-1 feature phone costs a tad higher than Reliance JioPhone, but the effective ownership cost of the phone after 3 years of use is lower than that of JioPhone.

MUMBAI: Bajaj Auto today reported a marginal decline in consolidated net profit at Rs 1,193.58 crore for the September quarter, 2017-18.

The Pune-based company had reported a consolidated net profit of Rs 1,200.72 crore for the July-September period of last fiscal.

The Securities and Exchange Board of India constituted a committee on Monday to review the norms for market infrastructure institutions such as stock exchanges, depositories and clearing corporations. The committee will be headed by former Reserve Bank of India deputy governor R. Gandhi.

Sebi’s move comes after it proposed a review of regulations related to ownership and governance of market infrastructure institutions earlier this year.

New Delhi: The country’s second largest software services firm Infosys Tuesday said it will announce financial results for the second quarter on 24 October.

“Infosys will announce the results for its second quarter ended September 30, 2017 on Tuesday, October 24, 2017 around 3:45 pm Indian Standard Time,” Infosys said in a BSE filing. In a departure from its usual practice, Infosys has delayed the announcement of results by a couple of days—it typically announces its financial numbers at the beginning of the earnings season.

New Delhi: Maruti Suzuki India on Tuesday said the all-new version of its compact sedan Dzire has crossed 100,000 unit sales milestone in just five and half months of launch.

The third generation Dzire was launched in May 2017 and has become the fastest to clock one lakh unit sales mark, Maruti Suzuki India (MSI) said in a statement.

Mumbai: State-owned Punjab National Bank (PNB) plans to raise equity capital through a qualified institutional placement (QIP) that could see the lender raise as much as $250-300 million, said two people aware of the development.

PNB is among the several state-owned banks that have planned to tap the capital markets to raise funds in order to recapitalize balance sheets laden with bad loans.

Three book-running lead managers have already been appointed for the IRFC IPO, namely IDFC, HSBC, ICICI Securities and SBI Caps. IDBI Capital Markets, SBI Caps and Axis Capital have been appointed for the Ircon IPO.

The initial public offerings (IPOs) of three profitable rail PSUs — Indian Railway Finance Corporation (IRFC), Ircon International and Rites — are likely to hit the market in the fourth quarter of 2017-18, officials said. Even though the companies would be ready for the IPOs in a month or so, they said, the IPOs would be pushed to the fourth quarter as bankers and foreign investors proceed on year-end vacations in December.

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