Continuing its winning streak for the fourth straight session, the benchmark BSE Sensex surged over 120 points in late morning trade today on sustained buying by investors in blue-chip stocks amid a firming trend in Asian markets ahead of US Fed policy announcement.

At 11:10 am BSE Sensex traded 122.16 points up to 26808.67. NSE Nifty gained 25.90 to 8073.20.

Microsoft has tied up with Snapdeal to launch an online store that would include full range of Microsoft products such as phones, tablets, PCs and software.

All the Microsoft products will be available on microsoft.snapdeal.com. “This unique, self-contained store built by Snapdeal will allow users accessibility of Microsoft’s unified portfolio of phones, tablets, PCs and Microsoft software,” said Tony Navin, senior vice-president, electronics and home, Snapdeal.

NEW DELHI: Tax authorities will be able to access financial transaction profiles at the click of a button. The Central Board of Direct Taxes is ready to roll out fully from next year a new data mining tool known as the Income Tax Business Application that will allow assessing officers to access all PAN-based information about a taxpayer.

"The Income Tax Business Application, once ready, will vastly improve data mining and business intelligence of the department and the taxman," Central Board of Direct Taxes chairperson Anita Kapur told reporters on Tuesday. "It will be a robust database which will include all sorts of financial transactions data of an entity including human intelligence collected on a person or entity."

HDFC Bank, the country’s second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent. The new rates came into effect on Monday. Base rate is the benchmark rate to which all loan rates are linked.

This is the second base rate cut in the last three months. In April, HDFC Bank had cut its base rate by 15 basis points to bring it down to 9.85 per cent.

Even though Coal India(CIL) has been allowed to revert to the old system of removing the cap on e-auction volumes with effect from April 2015, in the absence of a specific guideline from the ministry, the state-owned miner is in a fix over determining the volume to be sold via e-auction route.

Coal India (CIL) was at loggerhead with the nodal ministry over the latter's directive last September to halve its lucrative e-auction volumes to 25 MT and finally settled for keeping its e-auction sales to 7 per cent of total sales.

After Nestle's decision to remove 'no added MSG (monosodium glutamate)' tag from Maggi, rival ITC has decided to do the same with their instant noodles brand Yippee. ITC sells Yippee under the Sunfeast brand.

The company, led by chairman Y C Deveshwar, has already started the process of removing the phrase from new batches of its products. ITC has stated its products have been found to be in compliance with all food safety regulations and safe for consumption.

State-run telecom player Bharat Sanchar Nigam Limited (BSNL) is in the process of undertaking an organisational and human resource (HR) restructuring in the company, in a bid to adapt with the changing times. This will also enable the public sector undertaking (PSU) to save over Rs 1,000 crore on an annual basis, once the new structure is put in place.

BSNL had hired Deloitte Consultancy for formulating the new structure, which was approved by the BSNL board recently.

After the Odisha government ticked off Wipro for going slow on its development centre here, the company has committed a massive expansion of the facility, which would house 28,000 employees. The software major, however, has not spelt out a timeline for implementing its ambitious expansion plan.

In a letter to the government, Wipro said it had approached the Centre for approval to be the co-developer for the special economic zone (SEZ). The matter is likely to be taken up at the next meeting of the Board of Approvals (BoA) for SEZs under Union commerce and industry ministry.

Have you lost important documents recently? Stop brooding! You can now switch to a document management tool called AllDox which will help you to save and manage important documents while on the move.

Founded by Dippankar S Halder and Dipan Bhattacharya in December 2012, the company is owned and run by PingStripe Inc. Initially, the company was called ‘TouchDox’, which was later renamed as ‘AllDox’. It is a US based startup run and owned by an Indian. It has its back-end office in India.

In a major technology demonstration ultimately aimed at cutting down the cost of satellite launches to one-tenth the present rates, the Indian Space Research Organisation (ISRO) will flight test an indigenously developed re-usable satellite launch vehicle for the first time this September.

Under the project, a plane will be flown into outer space at five times the speed of sound, deliver the payload and then land back like an aircraft. At present, the various stages in a satellite launch vehicle fall off in succession during launch and cannot be reused, making such launches expensive.

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