Senior BJP leader Arun Jaitley, who opted out of the new government at the Centre, on Thursday congratulated Narendra Modi for taking oath as Prime Minister for a second consecutive term.

In a post on Twitter, Jaitley, who was the Finance Minister in the first Modi regime, stated that India is moving steadfast on the path of progress under the leadership of Prime Minister Modi.

India’s top education platform Byju’s on Thursday announced it has achieved profitability, a first in the consumer internet start-up space.

The eight-year-old Bengaluru firm said its sales in FY19 were Rs 1,430 crore ($21 million), up 186 per cent over the last year, enough for the firm to churn out a small profit on a full-year basis. It did not reveal the bottom line. In FY18, Byju’s had Rs 500 crore turnover and a loss of Rs 37 crore.

Shares of Hindustan Petroleum Corporation (HPCL) hit a 52-week high of Rs 330, up 4 per cent, after surging 20 per cent in two weeks on the BSE, lifted by strong earnings in March quarter (Q4FY19) and fall in crude oil prices. In comparison, the S&P BSE Sensex was up 5 per cent during the same period.

The stock surpassed its previous high of Rs 325 touched on June 18, 2018.

E-commerce major Amazon India on Thursday said it has expanded its grocery service Pantry to 110 cities in the country as it deepens focus on the category to drive further growth in business. Amazon competes with newly minted unicorn BigBasket, Grofers, and Flipkart’s Supermart.

Amazon’s has enhanced its focus on grocery segment as “consumables is a fast-growing category for Amazon.

Swedish telecom gear maker Ericsson is considering tweaking provisions in business deals to avoid situations like those it is facing with Reliance Communications. The company sued RCom and its promoter Anil Ambani to recover dues of about Rs 1,500 crore, of which it managed to receive only Rs 550 crore. “We think fairness sort of came true in the end. But of course, as we sell new deals…we try to avoid those things. But it is hard to tell because who could have seen that coming.

NEW DELHI: Should information technology (IT) services companies be re-rated?

Tata Consultancy Services Ltd believes that it is time money managers re-look at how they have valued the company, which in the year ended March 2019 overtook DXC Technology Co., to become the world’s third largest IT services firm.

Microsoft is believed to be working on an operating system that will be more secure, stay connected all the time and carry out updates quietly in the background. In a blog post by Microsoft, published on the sidelines of ongoing Computex 2019 tech event in Taiwan, Nick Parker, CVP of Consumer and Device Sales talks about a 'modern OS' for modern PCs.

Volvo Cars has made a multi-million euro investment in Varjo Technologies Oy, whose headset with screens and cameras can be used to allow engineers to test-drive cars to dodge hazards such as virtual moose.

Varjo—founded by Nokia Oyj and Microsoft Corp. alumni—has been developing an augmented-reality headset with a significantly higher image resolution than those produced by its rivals, costing $5,995 plus camera add-ons.

Domestic equity benchmarks opened on a positive note Thursday led by gains in index heavyweights TCS, RIL and ITC, ahead of the expiry of May derivatives contracts.

After rising over 100 points in opening session, the BSE Sensex was trading 94 points, or 0.24%, higher at 39,596.05. Similarly, the broader NSE Nifty rose 15 points, or 0.13%, to 11,876.10.

Sectoral regulator Trai is likely to seek a clarification from incumbent operators — Vodafone Idea and Bharti Airtel — regarding the variation in the subscriber data. Both the operators share one set of subscriber numbers with Trai and another with investors. The numbers shared by Reliance Jio, however, do not differ.

Sources in the Telecom Regulatory Authority of India (Trai) told FE they are aware of the mismatch and will soon seek a clarification from the operators.

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