Infosys, India’s second-largest information technology services company, on Thursday said it was comfortably placed to achieve revenue growth guidance for 2015-16 on a better deal pipeline and increasing interest in its offerings.

Speaking at a conference organised by investment advisory firm Cowen & Company, Vishal Sikka, chief executive officer and managing director of Infosys, said recent initiatives had started yielding dividends.

India’s largest corporate entity, Reliance Industries Ltd (RIL), is set to sell its 45 per cent stake in a shale gas joint venture with Pioneer Natural Resources at Eagle Ford, US, by next week at a far lower valuation than its initial expectation of $4.5 billion. The drop in valuation is largely due to the fall in prices of crude oil since the sale process began last year, as well as concern about damage to the environment due to fracking in the US.

Now, RIL’s stake is likely to be valued at about $4 billion.

The Indian Institute of Technology-Madras has derecognised the Ambedkar-Periyar Study Circle (APSC), a student association, following an anonymous complaint that it was instigating protests against the policies of the Centre and creating “hatred” against Prime Minister Narendra Modi and Hindus.

The members have shot off a letter to the institute’s Director against what they called the “unilateral” and “undemocratic” decision to derecognise the group.

State-owned power utility NTPC today reported a 5 per cent drop in its March quarter net profit to Rs 2,944.03 crore.

Net profit of Rs 2,944.03 crore, or Rs 3.57 per share, was 4.8 per cent lower than Rs 3,093.54 crore, or Rs 3.75 a share, in the same period a year ago, National Thermal Power Corporation Limited said in a stock exchange filing.

A Radioactive leak from a medicinal consignment was detected at Indira Gandhi International Airport in Delhi on Friday.

According to reports, a leak was detected after a package containing nuclear medicine was damaged.

Shares of oil marketing companies mainly Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have rallied by up to 6% each on the bourses after the companies reported better-than-expected results for the March 2015 quarter.

HPCL has surged 6% to Rs 674, less than 2% away from its record high of Rs 686 on the NSE, after posting a net profit at Rs 2,162 crore against average analyst estimates of Rs 1,341 crore. The board has recommended a final dividend of Rs 24.50 per share.

Stepping up efforts to reduce usage of paper, Railways have decided to introduce paperless mobile ticketing system in premium trains like Rajdhani and Shatabdi services.

Currently, the paperless ticketing system is operational in unreserved ticketing for commuters in Egmore and Tambram suburban section in Chennai on a pilot basis.

Disgraced businessman Vijay Mallya might be on the run but soon he might be running out of places to hide. Documents accessed by dna show that when Mallya had complete control over United Spirits Ltd (USL), almost Rs 170 crore were diverted from USL to the accounts of his Indian Premier League (IPL) team Royal Challengers Bangalore (RCB).

The transfer of funds was masqueraded as an allotment of his IPL team's shares to United Spirits Ltd, of whom Mallya was the principal promoter at the time of the transaction. The shares were allotted by RCB to USL on March 11, 2011. Nominal shares worth Rs 10 were allotted to USL for an astounding sum of Rs 3,62,240 per share. That was an astronomical self-valuation of an IPL team which was barely three years old as a brand. The allotment of fully paid up shares at such a premium meant that Rs 170 crore were diverted from USL's account into RCB's accounts that year.

State-run telecom company Bharat Sanchar Nigam Ltd (BSNL) is in discussions with MTS, the Indian unit of Russian telecom company Sistema, to offer fourth generation, or 4G, telecom services across the country, through joint branding.

"We are in the final stages of discussions with MTS and are awaiting the government's policy on spectrum sharing and trading, expected to be announced soon," a senior BSNL official told Business Standard.

India’s second largest information technology (IT) services provider, Infosys, has abandoned plans to develop its second centre in Thiruvanthapuram’s Technocity. Senior executives said lack of infrastructure at the project site was why.

Ramadas Kamath, executive vice-president at Infosys, who heads infrastructure, facilities and administration, confirmed a letter from Infosys had been sent to the Technopark authorities conveying the decision.

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