Infosys CEO & MD Vishal Sikka on Wednesday said that despite the rapid progress the company made in bringing innovations powered by automation, artificial intelligence, products and platforms, there is no way that it would become a product company.

This is primarily because of the fact that the world itself is moving the services away with disruption happening in every segment, he said addressing the Morgan Stanley TMT (Technology, Media and Telecom) conference held in San Francisco late yesterday.

The Gujarat government today prohibited the strike at the Tata Motors plant in Sanand and ordered workers, protesting the suspension of 28 colleagues, to resume work immediately. Yesterday, senior company officials offered roses to the workers, urging them not to continue with the strike.

K O Shah, additional labour commissioner of Gandhinagar, said: "We have prohibited the strike under section 10(3) of the Industrial Disputes Act, and have referred the matter to the industrial tribunal in Ahmedabad."

Air India plans to expand its US network, including new flights to Newark and Washington and reduce interest burden through refinancing of existing Rs 10,000 crore term loans with government-guarantee backed debentures.

Air India is expected to cut down losses by 40% to Rs 3,529 crore in FY16 from Rs 5,859 crore in the previous year, aided by reduction in jet fuel cost. However, the airline is set to miss its revenue growth target and has been unable to significantly lower its interest and maintenance expenses resulting in the high loss figure.

Tata Consultancy Services (TCS) on Wednesday said that as a new member of the GE Digital Alliance Program, it would develop digital solutions that would increase the productivity of mobile workforces and assets in motion by leveraging Predix, GE’s cloud platform for industrial internet.

“With the launch of the GE Digital Alliance Program, we are providing alliance members with expanded access to GE Digital tools, technologies and domain expertise,” said Denzil Samuels, head of global channels and alliances at GE Digital.

The National Association of Software & Services (NASSCOM) today announced the inauguration of its first warehouse in Chennai today.

The MoU in this regard was signed between Department of Information Technology, Tamil Nadu, acting through the Electronics Corporation of Tamilnadu and NASSCOM in presence of Chief Minister of Tamil Nadu J Jayalalitha over video conferencing.

The country’s largest car maker and second-largest exporter of passenger vehicles Maruti Suzuki is looking at export opportunities for S-Cross. The company has shipped a small number of its first crossover vehicle to neighbouring markets like Nepal and Bhutan.

A company’s spokesperson said that about 25-30 units have been shipped so far. “Based on the feedback, we will decide the future course”, the spokesperson said. Maruti Suzuki has exported a total of 113,447 vehicles in the eleven months ending February, marginally down from same period last year.

With the government allowing Indian companies to avail themselves of investment allowance by one more year in the Budget announced on Monday, companies like Reliance Industries, the Adani Group and Tata Steel, which are currently in investment mode, will be the biggest beneficiary of 15% allowance. It will come into effect with retrospective effect from April 1, 2015.

The Income Tax Act specifies that manufacturing companies can avail themselves of the investment allowance at the rate of 15% on investments made in new assets such as plant and machinery exceeding Rs 25 crore so long as the acquisition and installation of the asset is undertaken in the same year. The Bill proposes to do away with the requirement that the asset should be acquired and installed in the same year.

Finance Minister Arun Jaitley on Wednesday said the Government would take a final decision on the Budget proposal to tax 60 per cent of Employees Provident Fund (EPF) savings of those earning over Rs. 15,000 a month, before it responded to the issue during the debate on the Finance Bill in Parliament.

“We will respond in Parliament…,” Mr. Jaitley said at a post-Budget interactive session with representatives of trade and industry associations, including the CII, FICCI and the Assocham.

Mercedes-Benz India on Wednesday said it will hike prices of its vehicles by up to Rs 5 lakh from March 15 in order to offset the impact of infrastructure cess and luxury tax proposed in the Union Budget 2016-17.

The price increase would be between 3 per cent and 5 per cent depending on the model, leading to a price hike between Rs 1 lakh and Rs 5 lakh.

Bajaj Auto today reported a 9% increase in motorcycle sales at 2,35,282 units in February 2016.

The company had sold 2,16,077 units in the year ago period.

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