Larsen and Toubro may cut its order growth guidance for FY19 due to slowdown in new project announcements, according to analysts.

L&T announced orders are down around 50% year-on-year to Rs 14,500 crore in the three months of October-December 2018, primarily due to exhaustion of large orders pipeline after a sharp order growth over the past four quarters, analysts at Deutsche Bank Research observed in a recent report.

Recently, certain reports in media were doing rounds that the printing of Rs 2000 notes has been stopped. Citing sources, a report in ThePrint claimed that to lower the circulation printing of Rs 2000 banknotes has been stopped. However, it cleared that the banknotes are still vaild and will continue to remain so.

The nations’ largest oil marketing and refining company Indian Oil Corporation (IOC) has hit the international bond market to raise up to $1.5 billion. The state-run company is looking to raise between $750 million and $1.5 billion through the US-dollar- denominated notes, banking sources said on Friday.

Markets regulator Sebi has ordered attachment of bank and demat accounts, along with mutual fund folios, of Lokmangal Agro Industries and its directors to recover dues of around Rs 75 crore. The move comes after the regulator in May 2018 had directed the firm and its seven directors to refund the amount of Rs 74.82 crore which they had illegally raised from the investors, along with an interest of 15 per cent per annum.

New Delhi: In a setback to Nestle India Ltd, the Supreme Court on Thursday lifted a stay on the proceedings of a class-action suit filed by the central government against the maker of Maggi noodles in the apex consumer court.

The National Consumer Disputes Redressal Commission (NCDRC) can now continue proceedings against Nestle India, based on the results of tests of Maggi noodle samples conducted by the Central Food Technological Research Institute (CFTRI) in Mysuru.

New Delhi: Concerns about a slowdown in US economy poses the biggest risk to India’s $167 billion information technology (IT) outsourcing industry as experts fear Fortune 1000 companies may cut spending on technology, hurting Tata Consultancy Services Ltd (TCS), Infosys Ltd and Wipro Ltd. Demand for digital services, which includes data crunching and artificial intelligence (AI) powered platforms, is still linked to the overall health of an economy, they say.

The BSE benchmark Sensex Friday rebounded nearly 200 points and the NSE Nifty reclaimed the 10,700 mark, driven by recovery in auto, metal and banking stocks amid buying by domestic institutional investors.

The 30-share index, however, pared some early gains and was trading 103.90 points, or 0.29 per cent, higher at 35,617.61.

Malaysia Airports Holding Bernhard (MAHB) said that it has terminated the share purchasing agreement (SPA) with the GMR Group for selling its 11% stake to the latter in Hyderabad airport as the company did not fulfil the obligations as per the agreement before December 31.

GMR Infrastructure in February, 2018 said its subsidiary GMR Airports entered into an agreement with Malaysia Airports Holding Berhad and its subsidiary to acquire 11% of the stake that the Malaysian company is holding in GMR Hyderabad International Airport, for $76 million.

The top two incumbent operators — Vodafone Idea and Bharti Airtel — have lost over 24 million subscribers in just three months as the telcos try to weed out low revenue paying customers from their network.

The country’s largest mobile operator by subscriber, Vodafone Idea lost around 20.57 million subscribers in September to November period whereas Bharti Airtel was leaner by 4.22 million users during September and October.

The Supreme Court on Thursday said it will hear on Monday the two contempt petitions, one filed by Reliance Communications against the department of telecommunications (DoT) and the other by Swedish telecom equipment manufacturer Ericsson India against RCom’s chairman Anil Ambani.

A bench led by Justice RF Nariman posted the petitions for hearing on Monday after both sides sought urgent hearing.

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