Reliance Industries (RIL) reported a strong set of numbers for the three months ended December 2018, beating Street estimates on all fronts. The company’s consolidated net profit increased nearly 9% year-on-year to Rs 10,251 crore.

With the profit of over Rs 10,000 crore, RIL has become the first private sector company to cross this number.

A satellite will be launched by the Indian Space Research Organisation (ISRO) exclusively for the Home Ministry to help it further strengthen its frontiers. The move is part of recommendations made by a task force on the use of space technology in improving border management which have been accepted by Home Minister Rajnath Singh.

US President Donald Trump has announced his intent to appoint Indian American Prem Parameswaran to a presidential advisory committee, according to a White House release.

Parameswaran is the only Indian American among the 12 members the president intents to appoint to the President's Advisory Commission on Asian Americans and Pacific Islanders.

The University of Oxford said on Thursday it has stopped accepting funding from China's Huawei Technologies, the leading global supplier of telecoms network equipment, after scrutiny over the company's relationship with China's government.

"Oxford University decided on January 8 this year that it will not pursue new funding opportunities with Huawei Technologies Co Ltd or its related group companies at present," the university said in a statement.

Mumbai: Facebook, in a major overhaul of business structure, has carved out India as a separate region with a six-member board that will be treated on a par with the one at its Menlo Park headquarters in the US.

The India board will also be the first such for Facebook in any of its markets outside of the US. The local office will also report directly to Menlo Park and will no longer be part of Facebook’s Asia Pacific operations.

IT midcap and digital solutions company Larsen & Toubro Infotech (LTI) announced the acquisition of Ruletronics, a pure-play Pega consulting and implementation company with offices in the UK, USA, and India for $7.48 million.

The acquisition will strengthen LTI’s rapidly growing digital business with a suite of capabilities in Pega implementation space around establishing BPM Roadmap & Strategy, Customer Services, RPA and Decisioning.

Shares of Axis Bank hit a record high of Rs 679 per share, up 2 per cent on the BSE, on expectations of a strong recovery in earnings, due to lower provisioning. The stock surpassed its previous high of Rs 677 recorded on September 10, 2018, in intra-day trade.

In the past two weeks, Axis Bank has outperformed the market by surging 12 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex.

New Delhi: State-owned Bharat Heavy Electricals Ltd (BHEL) on Thursday said it will set up a network of solar-based electric vehicle chargers (SEVC) on the Delhi-Chandigarh highway.

"The establishment of EV chargers at regular intervals over the entire 250 km stretch between Delhi and Chandigarh would allay range-anxiety among the electric vehicle users and bolster their confidence for inter-city travel," the company said in a statement.

New Delhi: Undeterred by India’s revised e-commerce policy that kicks off from next month, Amazon has not stopped hiring engineers and managers in India. An analysis of job listings on Amazon shows the e-commerce giant has more than 1,400 vacancies in India. In Bangalore and Hyderabad, there are over 1,000 open positions with software engineers being the most in demand.

Mumbai: Baring Private Equity Asia Ltd is likely to acquire NIIT Technologies Ltd in a deal that may value the IT solutions company at ₹8,000-10,000 crore, said two people with direct knowledge of the matter. Credit Suisse has been given the mandate by NIIT to find a suitable buyer, the people said, requesting anonymity.

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