Infosys's performance in the quarter ended March this year has proven there is no short-cut solution to the company's problems and the initiatives taken under Managing Director and Chief Executive Officer Vishal Sikka might take more time to yield results.

During the quarter, Infosys failed to impress on almost all counts - revenue and net profit, as well as operating parameters such as operating margin, business volume and the performance of key verticals. The FY16 dollar-term growth estimate of 6.2-8.2 per cent was lower than expected and much lower than the average industry growth of 12-14 per cent expected by industry body Nasscom.

Ford Motor Co said it's laying off 700 workers at a Michigan assembly plant because of slow sales of the small cars and hybrids it makes.

The Michigan Assembly Plant, in the Detroit suburb of Wayne, will move from three shifts to two starting June 22, spokeswoman Kristina Adamski said yesterday. The plant, which makes the Ford Focus and C-Max hybrid, has been operating on three shifts since 2012.

Microsoft Corp on Thursday reported revenue and profit above Wall Street expectations, as sales of its hardware and cloud-computing services helped to offset a decline in the company's core Windows business.

Shares rose 3.1% to $44.70 in after-hours trading.

Stock exchanges BSE and NSE have ordered share trading suspension for companies found to be non-compliant to listing agreement clauses relating to corporate governance norms and shareholding disclosures.

Trading has been suspended by the BSE in shares of as many as 16 companies. The National Stock Exchange or NSE has announced similar action against three companies, two of which are also part of the Bombay Stock Exchange (BSE) list.

The Bombay Stock Exchange has said that the real estate giant DLF will remain in Group A category, comprising top 300 companies.

The exchange, earlier this week, said that DLF would move out from Group A to Group B category from next month.

State Bank of India's plan to raise up to Rs 15,000 crore ($2.4 billion) via a share sale will now likely take place in June instead of April due to a fall in the lender's stock price, three sources directly involved in the process told Reuters.

Shares of the country's biggest lender by assets have fallen 8.5% since February-end.

Vishal Sikka-led Infosys is expected to see a 60-70-basis-point (bps) decline in its operating profit margin as it closes the fourth quarter of FY15 hit by cross-currency movements. At the same time, speculation is mounting that the IT major is close to announcing another acquisition in the digital domain.

Infosys, which will announce its results on Friday in Chennai, is not expected to buck the trend, as witnessed in the quarterly performances of TCS and Wipro, which recorded flattish revenue growth and tepid profits.

Concerned over a large number of unlisted firms fraudulently raising money from public, market regulator Securities and Exchange Board of India (SEBI), on Thursday, warned such companies and their directors of “stringent action” and asked investors not to be lured by their schemes.

The warning comes amid a continuing crackdown by SEBI against various unlisted companies that have lured retail investors by issuing securities such as non-convertible debentures/non-convertible preference shares in the garb of private placement.

At an event in Delhi, Chinese smartphone maker Xiaomi has launched its latest flagship smartphone Mi4i in India for Rs 12,999. The smartphone will be available from April 30 on its own website as well as eCommerce portals Flipkart, Amazon and Snapdeal, and brick-and-mortar stores of The Mobile Store and Bharti Airtel, in India. Registration for the device is open from April 23rd 8PM to April 29th midnight.

The company has also introduced Mi smartband at a priced of Rs 999 in India. The fitness tracker, announced in China in 2014, connects to iPhone and Android smartphones. It will be available at company’s site and has a 30-day battery life and IP 67 certification, making it water and dust resistant.

Oil and Natural Gas Corp. Ltd (ONGC) has quietly junked an agreement to use the existing infrastructure of Reliance Industries Ltd (RIL) in the Krishna-Godavari basin in its own neighbouring field after ties between the two companies turned sour.

The move will lead to higher capital expenditure for ONGC, which will have to set up its own infrastructure from scratch, and potential loss of revenue for RIL, which could have let out its idle equipment to ONGC for a fee.

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