BENGALURU: After declaring that Infosys aims to be a $20-billion company by 2020, Chief Executive Vishal Sikka has started laying down a blueprint towards achieving that goal. Plans include heavy-mining the company's top 100 clients with dedicated partners for each, driving up margins through automation, squeezing higher share of revenues from services such as consulting, and acquisitions.

Sikka, attempting to orchestrate a turnaround in the fortunes of Infosys, is personally spending more time with the company's top 100 customers such as Bank of America and Apple. He has made it a top priority for the company's senior management to help mine these accounts, according to three people familiar with the developments.

MUMBAI: Engineering major Larsen & Toubro has signed a technology transfer agreement with South Korea's Hyundai Heavy Industries to build carriers for liquefied natural gas (LNG) at its shipyard at Kattupalli, near Chennai.

While L&T aims to bag order from staterun GAIL which is likely to re-launch tender for nine LNG carriers with this tie-up, the company hopes to get more orders in India and abroad. GAIL had issued a Rs 42,370-tender to charter nine LNG carriers in August last year which was later scrapped due to dismal response.

The Securities and Exchange Board of India (Sebi) has been going slow on giving approvals to balanced funds, with only one getting the regulator’s nod in three years.

Since January 2012, at least seven fund houses have filed offer documents for launching these but are yet to get a nod.

At least 14 passengers were injured when an explosion took place inside a compartment of Sealdah- Krishnanagar local train early this morning, an Eastern Railway official said.

R N Mahapatra, CPRO Eastern Railway, said the train left Sealdah station at 03:20 a.m and reached Titagarh station at 03:55 a.m. The blast took place just after a person boarded the train at Titagarh station.

Infosys, the country’s second largest information technology services company, will now have to find a successor for K V Kamath, its non-executive chairman, now president-elect of the New Development Bank being set up by BRICS nations.

In making the announcement, Union Finance Secretary Rajiv Mehrishi said the appointment would be effective when Kamath got free from current assignments. Kamath is also non-executive chairman at ICICI Bank.

Indian tech billionaire Arun Pudur has been ranked as Asia’s wealthiest entrepreneur under the age of 40, according to the Wealth-X list released today.

The global wealth intelligence and prospecting company said Pudur, the owner and president of software firm Celframe, topped the list with a personal fortune of USD 4 billion.

Eminent banker K V Kamath was today appointed as head of the USD 50 billion New Development Bank being set up by the five emerging economies of BRICS grouping.

Kamath will have a five year term of the bank, which is likely to be operationalised within one year, Finance Secretary Rajiv Mehrishi said.

To increase its reach to a global customer base, US mobile messaging provider mGage has acquired its Bengaluru-based rival Unicel Technologies for an estimated amount of Rs 80-100 crore in all-cash deal. The transaction is expected to be completed in 2016, and provides an exit to Unicel founder Vinay Aggarwal, who started the company in 2003 and will launch another venture in the enterprise technology space this year.

As a combined organization, mGage will enable more than 60 Billion transactions annually. The mGage multi channel platform serves more than 800 bluechip brands, enterprise, and partners through a network of over 800 mobile operators around the world.

After launching its food delivery service in Delhi, Mumbai and Bengaluru in March, Zomato has now launched a separate app for food ordering called Zomato Order. The new app has been separated from its main app; it allows users to order food from thousands of restaurants around them. It is touted as the second significant feature after the rollout of Zomato Cashless earlier this year.

The app is currently available in Delhi NCR for Android and iOS users and in Bangalore, Mumbai, Hyderabad, Pune, and Kolkata coming soon. The company mentioned three reasons for this move:

Bengaluru: Infosys Ltd, which will turn 34 this July, is banking on its $500 million innovation fund to tap into the start-up ecosystem from Silicon Valley to Bengaluru. The motive: To remain relevant for the next 34 years.

For now, India’s second largest software services exporter has started building a team to identify, evaluate and invest in start-ups focused on new technologies.

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