Ecommerce companies like Snapdeal, Flipkart and Zomato have recently hired senior-level talent from varied sectors ranging from FMCG to media for different managerial positions and the trend is growing.

Even executives from large multinationals like Google, Unilever and GSK are making a beeline for the new sunrise sector in the country – Indian e-commerce industry is a Rs 80,000-crore-plus behemoth.

Reliance Infrastructure, the infra arm of the Reliance Group, has posted a 26% year-on-year decline in consolidated net profit for the quarter ended March 31, 2015 at Rs 459 crore on account of flat operating income and higher finance costs.

The company’s consolidated total operating income decreased nearly 2% year-on-year to Rs 4,618 crore as the income from power business declined 13.5%, while income from EPC and contract business fell by 5% during the quarter.

In a volatile market, the benchmark BSE Sensex washed out initial gains and was quoted lower by 27 points at 27,537.61 in the late morning session due to fresh selling pressure, mainly in healthcare and metal, on the back of fresh foreign capital outflows. Stocks may remain volatile today in view of expiry of May contracts in the futures and options (F&O) segment today.

Ashok Leyland's UK arm Optare has stregthened its leadership team by roping in former Volvo senior executive Alastair Munro.

Munro joins Optare as director, engineering. He has over 30 years experience in engineering design and product development in the bus, coach and commercial vehicle industry.

A district court in the US has rejected a plea by Infosys, India's second-largest information technology (IT) services company, to dismiss a discrimination lawsuit filed by a few IT workers there.

In their lawsuit filed in 2013, four IT workers, who claimed themselves as 'Caucasians of American national origin', had alleged they were discriminated against because they were not South Asian, Indian, Bangladeshi or Nepalese.

Tata Motors has closed the revenue gap with Reliance Industries Ltd (RIL). While RIL remains the country’s largest private sector company by revenue (including other income), Tata Motors topped the chart by core revenue (net sales) in the fourth quarter ended March. The country’s top automobile maker reported net sales of Rs 67,576 crore in the quarter, against RIL’s consolidated net sales of Rs 67,470 crore.

With total revenue of Rs 69,642 crore, however, RIL remains ahead of the auto maker. In the quarter, RIL reported other income of Rs 2,172 crore, far higher than Tata Motors' other income of Rs 245 crore. RIL is also more profitable than Tata Motors.

The Ministry of Corporate Affairs and the Income Tax Department have begun separate probes on the books of United Spirits following an admission by the company that huge sums of money was diverted from the company to other UB group entities under the previous management led by its chairman Vijay Mallya.

In its notes to the accounts for the fiscal year 2015, the company said it has received a notice from the MCA for inspection of its books and other papers of the company. The company said it has also received a notice under the Section 131 of the Income Tax Act from the I-T Department and is fully cooperating with the authorities on this matter.

Former Prime Minister Manmohan Singh on Wednesday attacked NDA government and said that he has not used public office to enrich himself.

Singh's remarks come a day after former TRAI Chairman Pradip Baijal alleged that the former Prime Minister had warned him of harm if he did not cooperate on 2G telecom licenses.

SBI General Insurance posted a 33% growth in premium income for FY15. The insurer collected premiums of Rs 1,577 crore for the year ended March 31, 2015.

Bhaskar J Sarma, MD & CEO of SBI General Insurance, said that in the last financial year the insurer has emerged as the fastest growing company amongst major private general insurance companies.

The sizzling heat wave sweeping many parts of the country claimed over 1,000 lives, with 852 death being reported in Andhra Pradesh and Telangana.

Besides Andhra Pradesh and Telangana, sweltering conditions persisted in Delhi, Maharashtra, Rajasthan, Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Odisha and West Bengal with temperature hovering around 45 degree celsius in most places in these states.

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