The start-up bug seems to have bitten large Indian information technology (IT) services companies.

Just a few weeks after a team from Wipro met and evaluated around 10 start-ups for a likely investment, Infosys, the country’s second largest IT services company, has also screened a handful of these. The idea was to explore an opportunity to either partner with or invest in.

While investors and observers closely watch for changes that the new leadership might bring about at Infosys, the Bangalore-based company is likely to announce its strategy by October.

Vishal Sikka, the new chief executive officer, is in the process of internally discussing and finalising the future course of action, chief operating officer U B Pravin Rao said on Tuesday.

NEW DELHI: Hyundai is "closely" looking at setting up a second factory in India as the Korean car major lines up heavy investments and at least two to three new cars every year, beginning with a compact SUV and a multi-purpose vehicle.

The second-biggest car maker in India is facing intense competition from players like Honda, Ford and Maruti Suzuki and has decided to go aggressive on new products, while entering unrepresented segments.

Bangalore: India’s third-largest software services exporter Wipro Ltd is seeing a pickup in spending from top telecom and media clients in the US, and hopes to win at least 4-6 deals that may each generate between $50-$100 million in revenue annually.

“If we look at our deal flow, we will continue to win at least 4 to 6, $50 million- $100 million deals a year. And these are in our pipeline,” Ayan Mukerji, chief executive of Wipro’s media and telecom business, said in an interview on Monday.

New Delhi: Oil and Natural Gas Corp. Ltd (ONGC) and Reliance Industries Ltd (RIL), India’s biggest energy explorers, are looking to invest in Mexico as North America’s third-biggest producer courts foreign companies after a 76-year hiatus.

“State-owned ONGC, which is grappling with falling output in India, wants to partner with Petroleos Mexicanos (Pemex) to develop producing oil fields and is also considering bids at an auction of deposits next year,” chairman D.K. Sarraf said. RIL, controlled by billionaire Mukesh Ambani, has already said it’s interested in exploration blocks in Mexico.

HDFC Standard Life has said it is aiming to double online sales in the current fiscal. Established in 2000, the company is a joint venture between Housing Development Finance Corporation Ltd. and Standard Life plc.

“We are strong in online sales space, and have a 30 per cent share in a market estimated between Rs.250 crore and Rs.300 crore. We are looking at doubling our online business in 2014-15,” HDFC Standard Life Executive Vice-President (Marketing, Digital and e-commerce) Sanjay Tripathy said here on Monday.

Automobile manufacturer Tata Motors is eyeing to capture more market share in the compact sedan market, following the launch of its latest product "Zest", according to a top company official.

"Our market share is relatively small. We have the (compact sedan) Indigo in this segment. It is about six per cent. Now with this launch it (market share) will grow quite strongly", Tata Motors Ltd, President, Passenger Vehicle business unit, Ranjit Yadav told reporters here.

While the Supreme Court’s ruling on coal block allocations pulled down markets from their all-time highs, the Sensex nevertheless ended Monday’s session at a lifetime high close of 26,437.02 points. Expectations are high the economy and corporate earnings will recover and foreign funds continue to buy both stocks and bonds. Among its emerging market peers, India continues to draw the bulk of FII flows, at $12.79 billion so far in 2014. On Monday, FIIs bought $21.22 million worth of equities.

Although the benchmark indices representing the bluechip and mid-cap space have sustained strong year to date gains this year, nearly half of the index members have underperformed these barometers.

In case of largecap indices — the fifty share Nifty and BSE 100 — that gained more than 26% in 2014, 45% of constituents have trailed the year to date gains reported by these respective indices.

NEW DELHI: Carmakers such as Tata Motors, M&M, and Maruti Suzuki-0.62 % plunged up to 2 per cent in trade on Tuesday, after the Competition Commission of India imposed a combined penalty of over Rs 2,500 crore on 14 carmakers for indulging in unfair practices in the spare parts market.

Tata Motors-0.73 % faces the maximum fine of Rs 1,346 crore, followed by Maruti Suzuki Rs 471 crore, Mahindra & Mahindra Rs 292 crore, General Motors Rs 85 crore, Honda Car India Rs 78 crore.

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