At a time when competitors such as Infosys, Wipro and Cognizant have been aggressive with inorganic growth (mergers and acquisitions), India’s largest information technology (IT) services provider, Tata Consultancy Services (TCS), prefers to grow organically.

Rajesh Gopinathan, chief financial officer at TCS, had told the Business Standard in an earlier interview: “We are always open to large investments and we have the capacity to do it. We believe the opportunity for organic growth is so large that an acquisition-led growth strategy is not something that we are very keen on.”

The government might be busy projecting Indian Railways as the vehicle of economic growth, but the national transporter is yet to catch up on project award and implementation.

Analysts tracking the infrastructure sector say, the Railways, with the exception of the dedicated freight corridor project, is witnessing weak tendering.

Mobile is the big tech focus for India — with initiatives like Facebook’s Internet.org and Google’s Android One, to name but two — but that isn’t stopping Google from introducing new budget Chromebook laptops in the South Asian country.

The Mountain View-based firm announced two sub-$250 Chromebooks, laptops powered by its web-based Chrome OS platform, from domestic manufacturers Nexian and Xolo.

Flipkart is reportedly all set to raise debt for the first time in near future by selling Rupee bonds worth Rs 3,000 crore. However, the plan is still in a draft stage for now. Additionally, last week there was a news of the company raising $550 million at a valuation of $16 billion and sources indicated that post this round it would be going for debt funding.

According to ET, Flipkart’s business model, which involves discounting to gain market share, and burning through cash, may lead investors to demand a steep interest rate as high as 16% a year if Rupee bonds are issued.

Microsoft, which bought Nokia’s handset business last year, has only 3% of the global smartphone market. By contrast, Android phones, led by Samsung, control 81% of the market and Apple 15%, according to Strategy Analytics. But in recent months, it has become clear that Microsoft is pumping in a lot of juice to change the momentum of its mobile business and drive itself towards the low-end, budget market segment to stay right in the middle of the competition in emerging markets like India.

The strategy continues to yield results as analysts say that nearly 78% of market demand is for phones in the sub-R10,000 range. This strategy has forced the Redmond, Washington-based technology firm to put out competitive low-end devices, like the Lumia 520 and Lumia 535. In other words, Microsoft is not just trying to stay relevant, it wants to takeover the segment altogether, at least in a high growth market like India, where people are increasingly looking to upgrade from a feature phone to a smartphone, with a growing aspiration for smarter experiences.

India’s manufacturing sector witnessed a modest growth in May, but going ahead “weak demand conditions” may persist that could have a negative impact on the industrial output numbers, says an SBI research report.

The SBI Monthly Composite Index, a leading indicator for manufacturing activity in Indian Economy, inched up from 46.8 in April 2015 to 53.8 in May 2015. However, the outlook is bearish.

State Bank of India (SBI) has agreed to refinance R5,000 crore of loans to Adani Power subsidiaries — Adani Power Maharashtra (APML) and Adani Power Rajasthan (APRL) — using the 5/25 scheme, sources aware of the development told FE. IDBI Bank is also expected to join the consortium to refinance a part of the debt.

“SBI has recently cleared the proposal with a 15-month moratorium on interest payments,” sources told FE.

BSE Sensex and NSE Nifty rose on Monday, on track for their second consecutive session of gains, as blue-chips rose after forecast of a timely monsoon raised hopes the central bank would lower interest rates in June.

India’s weather office said on Thursday it expects monsoon rains to hit the southern Kerala coast around May 30, a timely arrival for farmers worried about dry weather from an El Nino weather pattern this year.

MUMBAI: World's oldest comatose patient, nurse Aruna Shanbaug who had been in a vegetative state ever since she was raped, died in Mumbai's KEM Hospital on Monday morning after remaining in coma for almost 42 years, Dean Avinash Supe said.

He said police permissions and other formalities are being completed before finalizing Shanbaug's last rites later on Monday.

MUMBAI: Debashis Poddar may have a busy two years ahead. The global head of mergers and acquisitions at Tata Consultancy ServicesBSE -0.23 % is expected to help boost the company's appetite for M&A deals when its rivals are dipping deep into their wallets to buy growth.

TCS, the country's largest software services company, has always been a conservative player in the M&A space, a trait it used to share with others in the IT industry. However, over the past few months, Infosys and Cognizant Technology Solutions have become more aggressive in buying companies, while Wipro is boosting investments in startups.

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