The September quarter is likely to be a reasonably good one for most Indian IT companies thanks to healthy demand trends and it being a seasonally favourable period.

Infosys, after a strong June quarter, is expected to outpace peers in the September quarter. Analysts on an average expect Infosys to post 6.2% sequential growth in its rupee revenues, whereas this number for TCS, Wipro and HCL Technologies’ is seen at 5.8%, 5.3% and 3.2%, respectively.

Ashok Leyland Limited has sold shares worth Rs 165.37 crore in lnduslnd Bank Limited. According to company's announcement Ashok Leyland sold 18 lakh shares of Rs 10 each held in IndusInd Bank Ltd in the open market during the period between September 25-29, 2015 at a net price of Rs 918.76 per share.

Ashok Leyland balance sheet shows as on March 31, 2015 the company held 50,63,923 shares in IndusInd Bank.

Natural gas prices were cut by a steep 18% to $3.82 per unit on Wednesday, the biggest ever reduction in rates so far. This reduction will dent government revenues by about Rs. 800 crore and hit profits of producers like Oil and Natural Gas Corp (ONGC).

Natural gas prices, as per the formula approved by the government in October last year, will fall to $3.82 per million British thermal unit (mmBtu) on gross calorific value (GCV) basis for six months, beginning October 1, from the current %4.66 per mmBtu, according to the Oil Ministry.

The benchmark BSE Sensex reclaimed the 26,000-mark by surging 265 points and the NSE Nifty was above the 7,900-level in early trade on Wednesday on continued buying by participants on a bigger-than-expected interest rate cut by RBI yesterday amid a rebound in global markets.

The 30-share index rose by 265.94 points, or 1.03 per cent, at 26,044.60 with all sectoral indices, led by metal, realty and banking, trading higher by up to 2.12 per cent.

Engineering and construction major Larsen & Toubro today said its construction arm has won contracts worth Rs 1,376 core in power transmission and distribution business in domestic and international markets during this month.

“In the domestic market, the Solar Business has bagged multiple orders from a reputed solar power developer for the engineering, procurement and construction of 115 MWp solar installations in the southern part of the country,” the company said in a statement.

Terming it as a “virtual consolidation” in the highly-competitive telecom space, Anil Ambani on Wednesday said his group firm RCom is tying up ‘trading and sharing’ of spectrum with Mukesh Ambani-led Reliance Jio including for the much-awaited 4G services.

Addressing shareholders at the Annual General Meeting, Reliance Communications Chairman also said he was “grateful” to his elder brother for “unstinted support and guidance”.

The International Court of Justice has decided against Antrix Corp in an international arbitration case and asked it to pay $562.50 million in damages to Devas Multimedia Pvt Ltd, for canceling the deal to offer internet services using satellites.

The arbitration panel – chaired by Dr Michael Pryles at Singapore –said that Antrix Corp had “ no legal justification for terminating the contract” it had with with Devas Multimedia, according to the order that was announced on September 14.

Axis Bank on Wednesday cut its base rate by 0.35 per cent to 9.50 per cent on Wednesday with effect from October 5. The private lender is the third bank to cut the rate after State Bank of India and Andhra Bank, who announced their lending rate cut on Tuesday, following RBI rate cut move.

State Bank of India on Tuesday slashed its benchmark lending rate by 0.4 per cent to 9.3 per cent after the Reserve Bank of India cut repo rate by 50 basis points.

A sharp rate cut may help in the overall economic recovery, but could hurt companies that are sitting on cash. A dip in rates shrinks interest income that adds to their bottom lines.

Companies such as Coal India, Hindustan Zinc, Nalco, Sanofi India and Pfizer fall in this category. They are struggling to deliver meaningful growth and a large slice of their profit comes from interest income.

The Securities and Exchange Board of India (Sebi) on Tuesday exempted the Centre from the takeover code obligations for its investment in Dena Bank, Bank of India and Corporation Bank.

The Central government plans to infuse Rs 407 crore in Dena Bank, Rs 2,455 crore in Bank of India and Rs 857 crore in Corporation Bank. The infusion of capital, part of the government’s ‘Indradhanush’ initiative, would have triggered an open offer as the government’s stake in these banks would have increased by more than five per cent.

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