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.

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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.

The benchmark BSE Sensex slipped over 80 points in late morning trade today as participants booked profits after two sessions of gains amid sustained capital outflows and a weak trend at other Asian markets.

At 11:30 am, BSE Sensex traded 81.62 points low to 26504.93. NSE Nifty lost 28.95 points to 7984.95.

Shares of Reliance Communications today rose nearly 3 per cent after the company said it’s in talks to buy Russia-based Sistema’s Indian arm to consolidate its position as the nation’s fourth-largest telecom player.

The stock moved up 2.97 per cent to Rs 60.60 on BSE.

MUMBAI: Some of the bulge-bracket global investors are betting on India's affordable housing story with the country's leading mortgage lender HDFC rolling out its $1-billion offshore fund to finance such projects.

The world's second largest sovereign wealth fund the Abu Dhabi Investment Authority (ADIA), is one of the investors, according to two persons close to the development.

A Jaguar fighter aircraft of the Indian Air Force (IAF) crashed while on a routine sortie, the second such incident this year.

Both the pilots had ejected, IAF officials said, adding efforts were on to find them.

Buying a house may soon become costlier in the national capital as the AAP government is contemplating to increase circle rate for flats of group housing societies and DDA by around 100%.

The revenue department of the city's government has prepared a proposal which also favours to increase circle rate on agriculture land and farmhouses by up to 100% and 150% respectively.

Shares of Biocon were trading higher by 2% at Rs 457 on the BSE in early morning trade after Syngene International, research arm of biotechnology major, has received Securities Exchange Board of India’s (Sebi) approval to launch an initial public offer (IPO).

As per the draft papers, Syngene International plans to sell 22 million equity shares, including reservation of up to two million shares for Biocon shareholders, through an offer for sale, the PTI report suggests.

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