New Delhi: The government has turned down the Indian Air Force’s (IAF’s) request to expand the acquisition of 36 fighter planes from Dassault Aviation SA to plug vital gaps, officials said, nudging it to accept an indigenous combat plane 32 years in the making.

Prime Minister Narendra Modi’s decision, in line with his Make-in-India policy to encourage domestic industry, is a blow for not only the French manufacturer but also others circling over the Indian military aviation market worth billions of dollars.

A former employee of India’s third largest IT services firm Wipro, has sued the company for a compensation of around £1 million, in a case of sexual discrimination, unequal pay and unfair dismissal.

Shreya Ukil, 39, who worked in the Bengaluru-based company’s London office alleged that she was subjected to a “deeply predatory, misogynistic culture.”

Shares of oil exploration & production companies such as Oil and Natural Gas Corporation (ONGC), Cairn India and Oil India were trading higher by up to 6% on the BSE in the early morning trade on rise in crude oil prices.

Cairn India has rallied 6% to Rs 169, ONGC gained 3% to Rs 255, while Oil India up 2.5% to 455 on the BSE. The S&P BSE Sensex was trading flat at 26,926 at 09:23 am.

Ford India today launched the new version of its popular compact sports utility vehicle EcoSport priced between Rs 6.79 lakh and Rs 10.44 lakh (ex-showroom Delhi) looking to cash in on festive season sales.

“Ahead of the festive season, we have made our clever, compact SUV even more stylish with a host of smart features and enhanced power to delight consumers,” Ford India President and Managing Director Nigel Harris said in a statement.

German luxury car maker Mercedes- Benz today reported 34% increase in sales in India during the January-September period at 10,079 units.

"By selling 10,079 units, Mercedes-Benz sold almost the entire volume of 2014 in the first nine months of 2015," Mercedes-Benz India said in a statement.

Government has embarked on global roadshows at four locations, including the US and the UK, to attract investments for its big-ticket stake sale in the country’s largest power producer NTPC and BEL that may fetch around Rs 6,600 crore to the exchequer.

Officials from the Department of Disinvestment (DoD), Power Ministry and NTPC are doing roadshows simultaneously in Singapore, Hong Kong, London and in the United States between October 5-10.

Microsoft today launched LUMIA 640 LTE 4G device priced at Rs 17,399 with an aim to widen its portfolio in the mobile devices space under the LUMIA series.

The LUMIA smartphone with 4G capability, which comes with 13MP camera, 5.7 inch HD screen and Windows 8.1 operating system, would be available across India, Microsoft Mobile Devices, Director (Sales), South, T S Sridhar said.

Grocery segment in India is experiencing a boom currently. With many grocery delivery startups getting funded, eCommerce biggies are also entering the segment envisaging a promising future in this area.

Over the weekend, Flipkart launched Flipkart Nearby App for grocery delivery. This new service of Flipkart has been launched in select areas of Bangalore, such as Koramangala, HSR Layout, BTM Layout, Ejipura, Jayanagar, JP Nagar, and Bellandur.

Mumbai: The cost of Infosys Technologies Ltd equity options jumped to the highest level in 16 months, as investors look ahead to the Indian company’s quarterly earnings next week after its smaller competitor HCL Technologies Ltd issued a sales warning.

At-the-money option costs for Infosys, the nation’s second- most valuable software exporter, jumped to 42.04 as of 12:11 pm in Mumbai, poised for the highest level since May 2014 and a third day of gains. Infosys shares fell 2.2% to Rs.1,155.70 on Tuesday from a record high, and was the biggest drag by points on the 50-stock CNX Nifty Index.

New Delhi: The Indian information technology (IT) and services industry is set to more than double its revenue to touch $350 billion by 2025, riding on the global digital disruption due to rise of SMAC (social, mobility, analytics, cloud), the Internet of Things (IoT) and robotics, among other things, according to the new projection released by software lobby Nasscom based on research conducted by McKinsey and Co. on Monday.

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