India’s largest IT services exporter, Tata Consultancy Services (TCS), is now worth more than Rs 5 lakh crore. It is bigger than the next four biggest Indian IT companies put together. Even with its huge base, TCS continues to generate healthy revenue growth sequentially. In fact, among the top three companies—the other two being Infosys and Wipro—TCS was the only one which grew revenues sequentially (2.6%) during the June quarter of the current fiscal and also had the highest growth rate on an annual basis (23%).

Shares in Axis Bank is trading higher by 2% at Rs 406 in otherwise subdued market on the Bombay Stock Exchange (BSE). The stock of private sector lender is turned ex-stock split today.

The stock is the largest gainer among 30-share index S&P BSE Sensex at 1034 hours.

In the backdrop of 52 people charring to death in accidents involving Volvo buses last year, the government might issue directives to manufacturers for minimising the impact of such mishaps, including designing fuel tanks in the centre and easily accessible emergency exits.

The recommendations for change in bus designs has been given by a high-level panel probing two accidents involving Volvo buses last year.

Cairn India has sought partner Oil and Natural Gas Corp’s (ONGCs) nod for extension of the licence of their prolific Rajasthan oil block beyond the contractual deadline of 2020.

Cairn’s contractual term for exploring and producing oil and gas from the Rajasthan Block RJ-ON-90/2 expires in 2020 and the area is to return to the block licensee, ONGC.

Following the footsteps of some of its global peers, India's third largest information technology (IT) services company, Wipro, has set up a venture capital (VC) fund that will look at investing in early-to-middle stage technology start-ups globally.

According to highly-placed sources in the know, the initiative is being driven by Chief Strategy Officer Rishad Premji, also the elder son of Wipro chairman Azim Premji.

As the Government has decided against granting search and seizure powers to SEBI, a top official today said the market regulator has to approach a designated court to be set up in Mumbai for seeking sanction for it.

Replying to a specific question whether the Board felt that its power was diluted with the new Bill, Securities & Exchange Board of India (SEBI) Chairman U K Sinha said the bill provided for the establishment of a designated court and the Board has to approach to seek sanction for seizure and search operations.

NEW DELHI: Air India has terminated the services of almost 30 pilots who were working on contract, including all expats hired for the Boeing 787 Dreamliner, in the past six months. With each contract pilot getting almost Rs 10 lakh per month, cash-strapped AI hopes to save about Rs 4 crore from the move.

"We have terminated contract of 11 pilots of Boeing 777, two simulator instructors who used to get Rs 4,500 per hour, two pilots of Boeing 747 and about 15 expats hired for the Dreamliner," said a senior official.

L&T Technologies Services, a wholly-owned subsidiary of Larsen & Toubro (L&T), has unveiled plans to achieve revenue of $1 billion and be one of the world’s top technology service providers.

The company plans to achieve this target by focusing more on markets such as Japan, the Middle East and Korea as well as through acquisitions.

Ashok Leyland has reduced its net loss to Rs.48 crore for the quarter ended June 30, 2014 when compared with a net loss of Rs.142 crore in thea year-ago period, on the back of better operating profit. Net sales of the company were up five per cent at Rs.2,435 crore when compared with Rs.2,313 crore in Q1 of previous fiscal. Profit from operations before other income, finance costs and exceptional income stood at Rs.13 crore as against a loss of Rs.72 crore in the year-ago period.

The government is firm in its resolve to bring back blackmoney stashed away in tax havens, said finance minister Arun Jaitley in his reply to the debate on the Finance Bill in Parliament. Countering the remarks made by a BJP MP that “We will not be able to bring back blackmoney from Switzerland in our lifetime”, Jaitley said “Country will not have to wait for long for bringing back blackmoney”.

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