After decades of low-margin work like server maintenance, India's information technology services firms are moving upscale in search of lucrative contracts for driverless cars and other advanced projects as online innovation changes clients' needs.

Companies from Tata Consultancy Services to Wipro are all joining Infosys in investing in new, high-end technology, industry watchers say. Earlier this week Infosys bought US automation specialist Panaya Inc for $200 million.

Mumbai: The Airbus Group NV is in advanced talks with India’s largest engineering company Larsen and Toubro Ltd (L&T) for setting up a radar manufacturing facility in India.

In an interview, Christian Scherer, executive vice-president (head of marketing and sales) and member of executive committee at Airbus Defence and Space GmbH, said it has started discussions with its preferred partner L&T for such a facility.

Mumbai: HDFC Bank Ltd will raise infrastructure bonds worth Rs.4,500 crore before the end of March, following up on its jumbo share sale earlier this month, as the bank braces itself to take advantage of increased lending opportunities to both companies as well as individuals over the next two fiscal years.

In an interview on Thursday, HDFC Bank managing director Aditya Puri said the bank has armed itself with funds with an eye on improving growth prospects in India.

The benchmark BSE Sensex dropped over 267 points in early trade today as funds and retail investors booked profits after recent gains amid a mixed trend overseas.

The 30-share index, which had gained nearly 1,235 points in previous seven sessions, fell by 267.52 points, or 0.91 per cent, to 29,194.75.

Equity assets in B-15 cities almost doubled from March 2013 to December 2014, while the MF industry also saw an increase of 27 lakh folios from semi-urban and rural areas.

Investor awareness programmes, coupled with adoption of districts and steps to re-energise the MF industry by Sebi, have resulted in higher participation from beyond the top-15 (B-15) cities.

IFCI, an Indian state-run lender, might sign an agreement to sell part of its 5.5 per cent stake in the nation's biggest stock exchange in three days.

IFCI is in advanced talks with a foreign private equity fund to sell 1.1 per cent stake in the National Stock Exchange. PricewaterhouseCoopers LLP is helping the Delhi-based company with the sale, Chief Executive Officer Malay Mukherjee said, without disclosing details.

Tata Consultancy Services, the country’s largest provider of information technology, has been recognised as the fastest-growing brand globally in this sector over five years. The study is by London-based Brand Finance, a brand valuation entity.

In 2010-2015, TCS increased its brand value from $2.3 billion to $8.7 billion, while retaining the highest brand strength rating of AA+. It was also recognised as one of top-four global brands in IT services for a fourth year in row.

The Union government on Thursday cracked down on illegal information leaks from the petroleum and natural gas ministry. Delhi Police detained two employees of the ministry and three other persons for allegedly leaking confidential information. One of them is an employee of Reliance Industries Ltd (RIL), the country's largest private sector oil company.

A clerical staff and a peon in the ministry were apprehended by the police. "We have been looking into this case for a long time. One of the persons is a driver and the other is a former multi-tasking staff. They were leaking official documents to certain unofficial persons for money," Delhi Police chief B S Bassi told journalists.

MUMBAI: Continuing its rising streak for the seventh straight session, the BSE Sensex rose 114 points and the NSE Nifty regained the 8,900-level in early trade today as participants indulged in enlarging positions ahead of Budget.

The 30-share barometer spurted by 114.65 points, or 0.39 per cent, to trade at 29,434.91 with consumer durables, realty, auto, oil and gas and banking sector stocks, leading the rise.

Tata Motors is planning to launch new variants of its small commercial vehicle (SCV) Ace Zip incorporating more features aimed at providing additional power and load as also covering new application areas.

The company is undertaking some technological upgrades such as hub reduction, higher ground clearance as also new fuel options like CNG. It is also planning an electric version of its micro truck Tata Ace Zip, launched in May 2011. The company celebrated 100,000th roll-out of the small truck last week at its Dharwad plant.

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