Markets are trading at day’s high led by significant buying among index heavyweight HDFC and ITC.

By 10:43AM, the 30-share Sensex was higher by 301 points at 27,760 and the Nifty gained 81 points at 8,423.

Housing Development Finance Corporation (HDFC) launched a school — The HDFC School — in Gurgaon.

It was inaugurated by Deepak Parekh, chairman, HDFC. The school has started, taking admissions from pre-nursery to grade III this year. It is in the process of setting up a five-acre school campus for its higher secondary wing.

After the latest organisational restructuring, Wipro, India's third-largest information technology services company, will see certain changes at the board level. The company will be looking to fill the position that will go vacant with Chief Financial Officer (CFO) Suresh Senapaty retiring on Tuesday.

According to sources within and outside the company, Wipro is going to elevate Chairman Azim Premji's elder son, Rishad, chief strategy officer at present, into the board. An announcement is likely in the coming quarter.

BSE listed networking company Smartlink Network Systems is now eying 40 per cent growth in its wireless business in next financial year, 2015-16. The company has aggressively revamped its strategy in sync with the Centre's 'Make in India' initiative to grow its wireless business.

The company, has ramped up its production capabilities to double its market share within a year from the present 10 per cent in wireless broadband business in India. The company has extended its manufacturing capabilities with as many as 100,000 routers a month. It has 40 distributors across India. The company also offers its facility for contract manufacturing services to multinational companies. It has clocked annual turnover of Rs 120 crore in FY14-15.

A former member of the Securities and Exchange of India (Sebi), M S Sahoo, has become a member of the Competition Commission of India (CCI).

A senior official at CCI confirmed the development but declined to comment further.

NEW DELHI: Telecom operator Reliance Communications (RCom) on Friday said it has gained capability to provide 4G services across the country on the back of spectrum won by it in the recently concluded spectrum auction.

"RCom becomes India's first and only operator with nationwide footprint of contiguous 800/850 MHz spectrum. RCom operations now future-proofed across all circles for most advanced LTE technology at most optimal cost," the company said in a statement.

In a bid to drastically cut down the number of recognised unions in the airline to two from the current 15, Air India has appointed a four-member committee headed by former labour secretary Krishna Mohan Sahni to hold fresh elections by July this year.

Besides Sahni, other members of the committee include Raja Sridhar, executive board member, International Transport Workers’ Federation, retired chief labour commissioner S K Mukhopadhya and Ajit Nigam (advisor, HR, Ircon International).

Dilip Shanghvi-led Sun Pharma displaced IT major TCS for the first time in three financial years as the country’s best performing stock in terms of market cap growth.

As on Thursday, Sun Pharma’s market cap stood at R2.12 lakh crore, gaining R93,811 crore during the fiscal, while TCS yielded its least market-cap in the last three fiscals. The IT major’s market cap stood at R4.9 lakh crore as on Thursday. In FY15, TCS’ m-cap has improved by R74,422 crore. In FY14 and FY13, TCS has gained market cap of R1.09 lakh crore and R79,649 crore, respectively.

In the first ever reduction in domestic natural gas prices, the rates will be slashed by 9 per cent to USD 4.56 per unit from April 1 to reflect the softening in international prices, benefiting users in the power and fertiliser sectors.

The government had in October last year fixed natural gas price at USD 5.05 per million British thermal unit based on weighted average of international hub rates. This was on gross clarofic value (GCV) basis.

Markets recovered from day's lows but continued to remain volatile helped by a rebound in bank and information technology shares even as select index heavyweights capped upside gains.

At 2:30PM, the 30-share Sensex was up 6 points at 27,463 and the 50-share Nifty was down 8 points at 8,334.

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