Taking the Cellular Operators Association of India (COAI) head on for writing to telecom minister Ravi Shankar Prasad, late on Tuesday evening, urging his urgent intervention to avert a crisis in the telecom sector, Reliance Jio on Wednesday wrote a scathing letter to the director-general of the industry body. Lambasting the DG, Rajan Mathews, for the undue haste in issuing the letter without waiting for its view, Jio also said that the move was a serious breach of trust on COAI’s part.

The stock prices of Indian multinational Infosys fell by 16% on Tuesday, following an anonymous letter by whistleblowers accusing Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of indulging in unethical practices to boost revenue and profits in recent quarters.

Market benchmark Sensex on Tuesday gained almost 582 points to close at 39,831.84 while the broader NSE Nifty settled at 11,786.85 after surging 159.70 points.

The 30-share Sensex rose over 666 points before settling at 581.64, or 1.48% higher at 39,831.84. It hit an intra-day high of 39,917.01 and a low of 39,254.12.

Private lender YES Bank is slated to report its September quarter earnings for FY20 (Q2FY20) on Friday, November 1 amid expectations of a loss up to Rs 1,907.3 crore due to exposure to bankrupt companies like DHFL, McLeod Russel, and Cox & Kings.

The lender reported a profit of Rs 113.8 crore in the June quarter of FY20 (Q1FY20), and that of Rs 964.7 crore in Q2FY19. The net interest income (NII) came in at Rs 2,280.9 in the June quarter of the current fiscal, which was Rs 2,417.6 in Q2FY19.

Cognizant Technology Solutions Corp , one of Facebook Inc's content review contractors, said on Wednesday it would shut some content moderation business, including those focusing on identifying objectionable content, resulting in about 6,000 job cuts.

The information technology services provider will also eliminate up to 7,000 jobs in its other units to invest in growth areas such as cloud and internet of things to cushion the impact from a decline in spending by its financial customers.

Ramco Cements, the fifth largest cement producer in India, said on Wednesday its consolidated revenue in the second quarter of current financial year moved up to Rs 1,332 crore from Rs 1,196 crore in the corresponding period of last year.

The profit after tax too moved up to Rs 172 crore from Rs 120 crore despite finance costs going up to Rs 15 crore from Rs 13 crore in the same period. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased to Rs 308 crore in Q2 FY20 from Rs 259 crore in Q2 FY19.

Shares of public sector undertaking (PSU) banks were in focus, rising up to 12 per cent in the intra-day deals on Wednesday. The counters extended their past three days' upmove on the National Stock Exchange (NSE), after the State Bank of India (SBI) reported a good set of numbers for September quarter (Q2FY20).

SBI was trading 3 per cent higher at Rs 290, up 9 per cent in four days on the NSE. The September quarter was mostly full of positives for SBI as the quarter saw improvement in the bank’s asset quality as slippages halved and net interest margin (NIM) and provision coverage ratio (PCR) expanded further.

Amazon, Apple and Alibaba top the list of companies that tech industry leaders worry most about disrupting their business, according to a KPMG report.

In a survey of more than 740 technology industry business leaders globally, DJI, Google, Netflix, Airbnb, Microsoft, Facebook, and Baidu round out the Top 10 list.

Vodafone Group Plc’s Indian venture, reeling under $14 billion of net debt, mounting losses and dwindling subscribers, has approached creditors for better payment terms to revive the sinking carrier, people with direct knowledge of the matter said.

Vodafone Idea Ltd., formed by last year’s merger of the British telecommunications firm’s local unit with billionaire Kumar Mangalam Birla’s Idea Cellular Ltd., has warned lenders that it won’t be able to honor its commitments for long under current conditions, the people said, asking not to be named as the discussions are private.

Security has been heightened in Kashmir following the terror attack in Kulgam district that left five labourers from West Bengal dead, even as a complete shutdown disrupted normal life across the valley on Wednesday, officials said.

The terror attack came at a time when a delegation of parliamentarians from the European Union is in Kashmir to talk to locals and ask them about their experience after abrogation of Jammu and Kashmir's special status under Article 370 of the Constitution.

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