The Government of India, the Government of Madhya Pradesh and the World Bank signed a 210 million dollar loan agreement for the Madhya Pradesh Rural Connectivity Project.

The project is expected to improve the durability, resilience, and safety of the gravel-surfaced rural roads and enhance the capacity of the state to manage its rural roads network.

Even as the January – March 2018 (Q4FY18) results failed to enthuse investors, most analysts have given a thumbs-up to the three-year road-map laid out by Infosys to accelerate growth in the digital segment.

Infosys, which detailed its strategy to analysts in post market hours on Monday, also reiterated its capital allocation policy of returning up to 70 per cent of free cash flow (FCF) with periodic review of return cash balances.

In a relief to incumbents, including Bharti Airtel and Idea Cellular, and a setback to newcomer Reliance Jio, the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Tuesday imposed an interim stay on the clauses of the Telecom Regulatory Authority of India’s (Trai’s) order relating to reporting requirements and the new definition for ascertaining “significant market power” (SMP). The tribunal did not, however, grant a stay on the whole regulation on predatory pricing.

At a time when the policy repo rate is at 6 per cent and three-month government treasury bills are trading at 6.15 per cent, India’s biggest company, Reliance Industries, raised Rs 15 billion of three-month money on Monday at 7.1 per cent.

About the same time last year, Reliance was raising money for two to three months at 6.13-6.15 per cent, much closer to the prevailing treasury bill rate. On Tuesday, Godrej Industries raised money through three-month commercial paper at 7.12 per cent.

The government of Jammu and Kashmir has decided to implement the recommendations of the seventh pay commission. With this move Jammu and Kasmir has become first state to do so. The J&K employees would get their revised salaries from this month. The J&K government announced the good news from its twitter handle on Tuesday.

In a relief to old operators, telecom tribunal TDSAT today put an interim stay on reporting requirement of 'segmented offers' and the new definition for ascertaining 'significant market power' for predatory pricing by Trai.

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) in its interim order today, however, placed a qualifier on the reporting requirements, saying the Telecom Regulatory Authority of India (TRAI) will be entitled to ask for details of segmented discounts or concessions "for analysis" but that "no penalty shall be imposed on that basis" till further orders are given in the ongoing appeals by Bharti Airtel and Idea Cellular.

Mumbai: The stock market regulator Securities and Exchange Board of India (Sebi) has sought details of a large investment made by ICICI Prudential Mutual Fund in the flop IPO of affiliate ICICI Securities Ltd, two people aware of the matter said.

ICICI Securities had to cut its IPO size to Rs3,520 crore from the original target of Rs4,017 crore because of poor investor interest. Of this, a large chunk was bought by ICICI MF.

Shares of Mukesh Ambani-controlled Reliance Industries Ltd surged nearly 4% on Tuesday emerging as the top gainers on BSE Sensex after Reliance Jio Infocomm Ltd outperformed India’s largest telecom company Bharti Airtel Ltd and Idea Cellular Ltd in monthly subscriber addition in the month of February. According to the data released by the telecom regulator TRAI (Telecom Regulatory Authority of India) on Tuesday, Reliance Jio Infocomm added about 87.4 lakh new subscribers in February.

Mahindra & Mahindra (M&M), the country’s biggest tractor maker, has seen its market cap swelling by over Rs 100 billion since the start of the new financial year, giving it a valuation of Rs 1.03 trillion. The stock hit a new high of Rs 839 on Tuesday, showing a cumulative increase of over 12 per cent since the beginning of April.

The only visible trigger for this price increase is the forecast of a normal monsoon by private forecaster Skymet, as well as the India Meteorological Department (IMD).

Washington: The Trump administration is planning to end allowing spouses of H1-B visa holders to work legally in the US, a top federal agency official has told lawmakers, a move that could have a devastating impact on tens of thousands of Indians.

The move to end the Obama-era rule could have an impact on more than 70,000 H-4 visas holders, who have work permits. H-4 is issued to the spouse of H-1B visa holders, a significantly large number of whom are high-skilled professionals from India.

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