Bengaluru-based IT services company Wipro Ltd has completed the acquisition of US-based International TechneGroup Inc (ITI).

Referring to an earlier announcement on the proposal to acquire ITI, Wipro, in a BSE filing on 4 October, said that “the said acquisition has been completed on October 3, 2019."

After Vodafone Idea, Bharti Airtel has raised the issue of extremely low mobile tariffs currently prevalent in the industry and sought the government’s intervention in the matter. According to sources, Bharti Enterprises chairman Sunil Mittal met communications and IT minister Ravi Shankar Prasad on Friday and highlighted the issue while seeking support from the government.

Coal India reported 20% y-o-y decline in dispatches in September 2019 due to flooding of mines on account of excessive rains. Production volumes traced dispatch numbers and declined by 23.5% yoy in September 2019. E-auction premiums increased to 87% in August 2019 even as inventory across plants declined with four units reporting critical inventory of coal.

NTPC has recently commissioned the first unit (660MW) of its Khargone TPP (2x600MW). This plant is India’s first ultra-super-critical project with a station heat rate (SHR) of 2,070kcal/kWh. Notably, it is ~3% more efficient than the super critical ones given the higher steam parameters. Unit-1 is likely to commercialise soon, while unit-2 commissioning is scheduled for Jan’20. NTPC organised an analyst visit to this plant. Below are our key takeaways from it.

Pioneering digital payments firm PayPal has said it will no longer be part of an alliance intended to oversee the Facebook-backed Libra cryptocurrency, which has come under attack by regulators.

"PayPal has made the decision to forgo further participation in the Libra Association at this time," the California-based company said on Friday.

The country’s two premier e-commerce firms claimed top spot with their own set of numbers in mega festival season sales.

Even as the six-day flagship festive sale is coming to an end Friday midnight, Amazon and Flipkart said more than half their growth during this period came from new customers, especially those in smaller cities and towns.

Welcoming the 25 basis points rate cut-fifth in a row and to a decadal low of 5.15 per cent on Friday, bankers are expecting 25-40 bps more reduction through the course of the fiscal year, given the Reserve Bank of India (RBI) focus on growth that has been sagging for months now.

HDFC Bank Chief Economist and Executive Vice-President Abheek Barua said though the latest rate cut was on expected lines, the market was disappointed as they were expecting a larger cut.

ITC may not have to increase cigarette prices for the rest of the ongoing fiscal year after reaping the benefits of a cut in corporation tax rates and the ban on vaping in the country.

According to a report from Morgan Stanley, after the Centre announced a reduction in corporation tax rates from 30 per cent to 22 per cent, it doesn’t expect ITC to hike cigarette prices as the firm, is likely to be one of the biggest beneficiaries of the cut.

Leading infra companies Larsen & Toubro (L&T) and Afcons Infrastructure are among 13 firms vying for the development of the Rs 5,877-crore Gorakhpur Link Expressway project. The Expressway will directly link Gorakhpur, the home turf of chief minister Yogi Adityanath, with the under-construction Purvanchal Expressway.

Shares of Coal India Ltd fell by 3.4% on Thursday after the company reported a poor set of production numbers. Production shrank 23% in September, hampered by floods and rains. That has continued to keep a lid on its stock price, despite what appears to be an inexpensive valuation.

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