Maruti Suzuki on Friday said it would convert all contract workers at its factories in Gurgaon and Manesar to permanent or temporary staff over the next two years.

The process started soon after a violent clash at the company's plant in Manesar in 2012. Training programmes for contract workers have recently been started at the Gurgaon plant.

Policy changes and a provision for guaranteed returns must be put in place to boost infrastructure development, which requires large-scale funding, said Larsen & Toubro (L&T) Chairman A M Naik. Companies will invest only if there is an assurance of returns, he said in an interaction with reporters here on Friday.

Over the past few years, L&T has been looking abroad for orders. Naik said the company would consolidate its international business by replicating its domestic structure and systems and that it is hopeful of domestic projects coming on track with the new government approving coal mines and taking policy decisions to support investment.

The country's largest carmaker, Maruti Suzuki India Limited (MSIL), is likely to seek minority shareholders’ approval for developing manufacturing facilities in Gujarat through a wholly-owned subsidiary of parent Suzuki Motor Corporation (SMC) in October.

MSIL Chairman R C Bhargava said, “We haven't yet fixed a date. It could be in October.

Saying PACL Ltd ran a collective investment scheme, mobilising about Rs 50,000 crore, the Securities and Exchange Board of India (Sebi) has asked the company to refund investors and wind up operations.

This is the biggest crackdown on a large-scale illicit money-pooling scheme. At Rs 49,100 crore, the amount concerned is twice that collected by the Sahara group, which is said to have mobilised Rs 24,000 crore.

New Delhi: The board of National Highways Authority of India (NHAI) has approved the formation of an entity similar to an asset reconstruction company (ARC) to take over bank loans extended to road projects that are likely to turn bad.

This decision was taken at a meeting held on Thursday, two government officials said on condition of anonymity. The objective is to keep bank balance sheets healthy and at the same time revive road projects.

The benchmark BSE Sensex rose over 111 points and the NSE Nifty soared to a new life-time high of 7,924.90 in early trade today as IT, oil & gas, power and consumer durable stocks led the rally on sustained capital inflows. Besides, a firming trend overseas also buoyed market sentiments.

The BSE 30-share barometer spurted by 111.09 points, or 0.42 per cent, to trade at 26,471.20, approaching its life-time high of 26,530.67 reached on August 19. It had gained 45.82 points in yesterday's session.

India's NSE Nifty index rises as much as 0.43 percent to a record high of 7,924.90.

That marks its fourth record high this week, surpassing the previous all-time high on Wednesday

Tata Consultancy Services (TCS), the country’s largest IT services exporter, has regained revenue parity with its nearest competitor Cognizant in the key North American market, after trailing the latter for over three quarters, setting the stage for an interesting battle between the two companies in the world's largest technology market.

Some of the flagship listed companies of Tata Group hold significant investments in other group companies and in Tata Sons, the promoter company. While the book value of these investments is miniscule, their current market value is equal to 1% to 135% of the market capitalisation of these investor Tata companies, says IIFL Institutional Equities.

MUMBAI: Bangalore-based IT firm Wipro expects to land bigger deals for solutions based on digital technologies like social, mobility, analytics and cloud, a sign that companies are willing to increase their spend on these discretionary areas.

"While our sweet spot is deals in the $2.5-3.5 million (Rs 15-21 crore) range, we are seeing deals worth $5-10 million (about Rs 30-60 crore) in the pipeline," Jeff Heenan-Jalil, global head of Wipro's advanced technology solutions unit said in an interview to ET.

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