Wipro, India’s third largest IT services company, on Monday announced the appointment of Abid Ali Neemuchwala as Group President and Chief Operating Officer (COO), with effect from 1 April, 2015.

In his previous assignment, Neemuchwala headed business process outsourcing (BPO) services for Tata Consultancy Services (TCS) where he spent over 23 years of his career.

IT solutions service provider L&T Infotech has received a $10 million contract from state-run Rail Vikas Nigam (RVNL) to integrate its business functions.

"L&T Infotech, a global provider of information technology services and solutions, has been awarded a contract worth USD 10 million to integrate the business functions of Rail Vikas Nigam (RVNL)," the company said in a release today.

Quashing of the Securities and Exchange Board of India (Sebi)'s order against DLF, which banned the property giant from accessing the capital market, has opened new avenues for raising funds and reducing of its debt.

With the ban applicable from October 13, 2014, and now reduced to six months, the company will be able to access the markets shortly, in about a month. Analysts at Axis Capital say over the next two years, DLF's balance sheet could be strengthened considerably through equity raising, monetisation of commercial assets (REIT or real estate investment trust listing), issuance of commercial mortgage-backed securities and stake sale in select projects.

Infosys, the country’s second largest information technology (IT) services company, has donated £250,000 (Rs 2.3 crore) towards the statue of Mahatma Gandhi unveiled in London’s Parliament Square on Saturday.

According to the Trust’s website, Infosys’ donation is the highest so far.

As it completes one month in office, the CM Arvind Kejriwal-led Aam Aadmi Party (AAP) Delhi government today came out with a list of its “achievements” which included slashing power tariff by 50 per cent, free water up to 20 litres per month and simplification of VAT payment among others.

On the eve of completing one month of AAP government, Deputy Chief Minister Manish Sisodia said that they had a good experience and government is working with full confidence.

The government is unlikely to go for any dilution of its stake in national carrier Air India in the near future and divestment may be “looked at” once the airline improves its balance sheet.

Noting that Air India has seen a marked improvement in its on-time performance, which is being monitored by the Civil Aviation Ministry on a day-to-day basis in the last few weeks, highly-placed sources said that the reason for flight delays like shortage of flight and cabin crew is being addressed by the management.

BSE Sensex and NSE Nifty closed more than 1% lower on Friday as the retail inflation data dampened hopes of a rate-cut by the Reserve Bank of India (RBI) in April and fear of a US Fed rate-hike in June put emerging market currencies under pressure.

“There are no key triggers for the markets, currently. While markets opened higher amid optimism from the passage of the insurance bill in the Rajya Sabha, it doesn’t come across as a great surprise as it was a long-pending issue.

Microsoft is working on an advanced version of its competitor to Apple’s Siri, using research from an artificial intelligence project called “Einstein.”

Microsoft has been running its “personal assistant” Cortana on its Windows phones for a year, and will put the new version on the desktop with the arrival of Windows 10 this autumn. Later, Cortana will be available as a standalone app, usable on phones and tablets powered by Apple Inc’s iOS and Google Inc’s Android, people familiar with the project said.

The State Bank of India (SBI) is preparing to turn down a $1-billion loan request from Adani Enterprises intended for a coal project in Australia, scrapping an agreement signed last year, sources said.

The sources said the SBI had not yet given Adani official notice of the internal ruling but the decision was now due to be communicated to the group.

Mumbai, March 13 (PTI): After mentoring 11 start-ups, the venture investment arm of Reliance Industries is now looking forward to investing in new companies which will be crucial to its growth, a top official said today.

Eleven start-ups completed a mentoring programme, launched by RIL's arm Gennext Ventures and Microsoft Ventures recently. Both the partners today announced that they had started inviting applications for the second batch, where around a dozen start-ups will be mentored.

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