MUMBAI: The benchmark BSE Sensex recovered from two-week low by rising 226 points and the NSE Nifty recaputred the 7,400-mark in early trade on Thursday, mainly supported by value-buying in recently beaten down blue-chip stocks amid positive global cues.

Furthermore, covering-up of short positions by speculators at prevailing levels also helped the recovery.

Mumbai: Air India Express, the low-fare international unit of Air India Ltd, is expecting to post a net profit of Rs.200 crore in 2015-16, airline chief executive officer K. Shyam Sundar said on Wednesday.

The airline posted a net loss of Rs.60 crore in 2014-15.

Bengaluru: Investors will closely watch developments related to DLF Ltd’s plan to partly sell its commercial office portfolio in the coming months, after the country’s largest developer struggled to sell homes in the December quarter and land sales masked poor operations.

In a post-earnings conference call with analysts on Wednesday, DLF’s top officials said that details of the transaction will be shared with prospective investors by the end of this month.

The Cabinet on Wednesday gave its approval to the ministry of railways to form joint venture (JV) companies with the state governments for mobilising resources for rail infrastructure projects. The minister for railways, Suresh Prabhu had announced in his Budget speech setting up of such JVs for “focused project development, resource mobilization, land acquisition, project implementation and monitoring of critical rail projects.”

Wipro, India’s third largest software exporter, would hire 25,000 employees in Bengaluru as part of its expansion, said chairman Azim Premji.

“We have already recruited 55,000 employees in our development centres in Bengaluru till now. We are in the process of a major expansion of our centre in Bengaluru and will add another 25,000 people,” he said, while speaking at the inaugural event of Invest Karnataka 2016, a global investors meet of Karnataka government, on Wednesday.

India’s largest IT services exporter, Tata Consultancy Services (TCS), has been rated as the world’s most powerful brand in IT services by Brand Finance, a leading brand valuation firm.

In a filing to the stock exchanges, TCS said that it has been recognised as the fastest growing brand within industry over the last six years. The company’s overall brand value has increased from $2.34 billion in 2010 to $9.04 billion in 2016, a growth rate of 286%.

Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether Chief Executive Officer Marissa Mayer can save her own job.

The long-anticipated purge, announced on Wednesday, will jettison about 15% of Yahoo's workforce along with an assortment of services that Mayer decided aren't worth the time and money that the Internet company has been putting into them.

Equities remained under pressure for a third day as the BSE Sensex saw a deep plunge, falling by 316 points to end at a two-week low of 24,223.32 on sustained foreign fund outflows amid global rout on renewed concerns over slowing growth after oil prices resumed slide.

Moreover, the rupee, which again breached the 68-mark against the dollar also had its bearing on the market.

Mercedes-Benz, India's biggest luxury car manufacturer, today unveiled three new products at the Auto Expo.

The company unveiled the GLC sports utility vehicle, S-Class cabriolet and the Maybach S 600 Guard today.

IT major Wipro is setting up new software development centres in Bengaluru that would potentially employ 25,000 people, while its cross town rival Infosys is setting up a centre in Hubbali in North Karnataka.

“We are in the midst of expansion, which will add 25,000 people to Karnataka and to Bengaluru. Our experience is that Bengaluru is a source of technical talent. Inspite of Bengaluru's infrastructure, it has very nice weather, people with very strong science background and it is a cosmopolitan city,” Wipro Chairman Azim Premji told the Invest Karnataka summit here on Wednesday.

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