BENGALURU: Wipro's investments in next gen programmes, overseen by Rishad Premji's strategy office, could soon be spun off into a separate entity.

Called H2H3 (Horizon 2, Horizon 3), the programme operates like an in-house incubator and fund, identifying potent ideas that have the potential to scale up over a two- or three-year timeframe and generate substantial revenues.

Mumbai: India’s Reliance Industries Ltd and seven other firms including top mobile phone operator Bharti Airtel Ltd have applied to participate in next month’s auction for mobile phone airwaves, several people directly involved in the process said.

Others firms which have submitted applications for the auction that will start on 4 March include the local unit of Vodafone Group Plc, Reliance Communications Ltd, Idea Cellular Ltd, and Tata Teleservice Ltd, the people said.

Air India is alleged to have been “compromising” with flight safety norms by using a DGCA waiver on minimum cabin crew requirement on some of its long haul flights, a charge denied by the national carrier.

Air India, which is facing acute shortage of cabin crew, declares one door ‘unserviceable’ on some of its long-haul flights, which lowers the crew requirement. And it happens mainly on flights to New York and Chicago, where it operates most of its flights with 11 crew as against a requirement of 14, crew members, who requested anonymity, said here.

Seeking to regain its lost market share in the mid-sized sedan segment, Hyundai Motor India Ltd (HMIL) today launched an updated version of Verna, priced between Rs 7.74 lakh and Rs 12.19 lakh (ex-showroom Delhi).

The model, which competes with Honday City and Maruti Ciaz, will be available in both petrol and diesel options and have ten variants.

With chief executive Satya Nadella stressing a productivity-and-platform agenda for software company Microsoft, a segment in which the firm wants to lead is cloud computing, with offerings under Microsoft Azure.

Independent analysts say though Microsoft in India is yet to catch up with Amazon Web Services, the aggression shown by the company in gaining market share recently is evident. For Microsoft, Azure is a $20-billion revenue business and emerging markets such as India seem growth drivers.

ITC is trading higher by nearly 1% at Rs 394, extending its an over 5% rally in past two days on NSE, after the company has acquired the trademarks for 'Savlon' and 'Shower To Shower' in India from Johnson & Johnson for an undisclosed amount.

The stock opened at Rs 386 and touched a record high of Rs 402 on NSE. The trading volumes on the counter almost doubled with a combined 7.37 million shares changed hands till 1250 hours on NSE and BSE.

Benchmark indices have continued to trade firm led primarily by the gains in financials and select index heavyweight and IT stocks like ITC and TCS.

At 2:12PM, the 30-share Sensex was up 218 points at 29,345 and the 50-share Nifty was up 62 points at 8,871.

Tata Consultancy Services (TCS), India's largest IT services provider today announced that it has partnered with Startupbootcamp FinTech, a leading accelerator focused on financial innovation, to host the Pitch Days in India.

The Pitch days will be held in the TCS campuses on February 24 in Mumbai and February 26 in Bangalore.

Maruti Suzuki India, the country’s largest passenger car company, was the most sought stock for mutual fund managers last month.

Equity fund managers pumped Rs 550 crore in the stock, even as it was ruling at all-time high levels. The shares moved in a range between Rs 3,341 and Rs 3,730, a record high on a closing basis.

The elephant might not be dancing but it’s surely trying to keep its flab under check. State Bank of India (SBI), the country’s largest lender, which controls 17 per cent of India’s loan market, has gone off the beaten track by slowing its pace of growth, a decision in tune with the macroeconomic environment.

On a year-on-year basis, SBI’s loan growth was 6.9 per cent till December-end, compared with the sector’s growth of 9.1 per cent.

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