India would see the biggest impact on jobs due to automation, Infosys Chief Executive Officer Vishal Sikka said, quoting a research report, while addressing shareholders on Monday.

While most observers would have followed Sikka's address with regard to the recent tussle between the company's board and its founders, especially N R Narayan Murthy's allegations of a drop in corporate governance standards in India's second-largest software company, Sikka steered clear of the issue and merely dismissed media reports as drama and distraction.

New Delhi: After its successful launch on Android, the Bharat Interface for Money, or BHIM, an app developed by the government to further its cashless push, has been finally launched on the iOS platform on Saturday.

With its debut on iOS, it is currently supporting over 35 banks such as State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank, Union Bank of India and Kotak Mahindra Bank.

BHEL’s Q3 numbers had slightly better-than-expected execution but order inflow and backlog continued to belie weakness. Raw material (RM) to sales at 64.6% remains higher than our FY19e estimate of ~59%. Order backlog of R940 bn is inadequate to drive revenues much ahead of CSe of ~R330 bn in FY18e. >20% of order book is not likely to start near-term. Another ~20% (Yadadri) is still expecting clearances. Total executable book is lower as we expect that R210 bn of projects may not get cleared for execution near-term.

Mahindra and Mahindra (M&M), country’s largest utility vehicle manufacturer, on Friday reported a 33.29% y-o-y increase in its standalone net profit to R10,860.05 crore for the quarter ended December 31 as a result of an exceptional gain of R363.78 crore from the sale of investments in subsidiary companies.

The company had reported a net profit of R834.47 crore in the corresponding period last fiscal.

State Bank of India (SBI) has more than doubled net profits in the December 2016 quarter to R2,610 crore. Profits were buoyed by treasury profits and the proceeds of R1,755 crore that came in from the sale of a 3.9% stake in its life insurance arm, SBI Life. SBI’s other income jumped 59% year-on-year to R9,662 crore with the profits on sales of investments trebling to R3,969 core and a 14% rise in fee income to R4,011 crore. The profits came off a small base — in the December 2015 quarter, provisions for non-performing assets (NPAs) had soared following the asset quality review (AQR).

Diversified group ITC plans to set up multi-specialty hospitals and leverage its experience in hospitality for tapping into the expanding medical tourism segment in India. The Kolkata-based firm, better known for FMCG products and cigarettes, is seeking approval from shareholders through a special resolution to alter its Memorandum of Association in order to be able to foray into the healthcare sector.

The board of directors of the company has “recommended exploring and entering the area of health in India by way of setting up state of the art world class multi specialty hospitals”, ITC said in a notice to the shareholders.

Siemens Ltd. announced the acceptance of an order worth Rs. 101 crore from Delhi Transco Limited, on Saturday. The order includes installing 220/66/33kV Gas Insulated Substation (GIS) at R.K. Puram, New Delhi. Delhi Transco Limited is the State Transmission Utility of New Delhi. To enhance its efficiency and productivity, Delhi Transco Limited is using state-of-the-art technologies in its operations. Keeping in view the land constraints and environmental hazards, DTL is prioritising GIS in place of Air Insulated Substations (AIS), since GIS are both reliable and maintenance-friendly, and contribute to improved quality of power in the system.

A day after being named the next Sebi chief, senior bureaucrat Ajay Tyagi said it is a big responsibility and he is looking forward to handling it.

As Chairman of the Securities and Exchange Board of India (Sebi), Tyagi will oversee regulation and surveillance of capital markets and all the market infrastructure entities such as stock exchanges and intermediaries including brokerage firms, mutual funds, FPIs, investment banks and rating agencies, as also thousands of listed companies.

Ford will invest $1 billion over five years in an artificial intelligence startup with the aim of developing an autonomous vehicle by 2021, the auto giant said.

Ford will take a majority stake in Argo AI, an artificial intelligence company based in Pittsburgh, started in late 2016 by former Google and Uber employees who had worked on autonomous driving.

Hinduja Group flagship company and commercial vehicles major Ashok Leyland Ltd (ALL) is eyeing a one-third share of the intermediate commercial vehicles (ICV) market in the country within the next couple of years.

ALL, which is already in the process of expanding its international footprint through establishing manufacturing assembly sites, is also targeting one-third of its total volumes coming from foreign shores in the next five years.

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