Shares of information technology (IT) companies were continue at their upward movement with the sector giant Tata Consultancy Services (TCS) hit a new high crossing Rs 3,000 mark on BSE.

Besides TCS, Persistent Systems, Mindtree, Take Solutions, Tata Elxsi, Zensar Technologies, NIIT Technologies, Tech Mahindra and MphasiS were up in the range of 1% to 6% on BSE on Monday.

LAS VEGAS: It's the era of connected cars and autonomous driving, and Mercedes-Benz — the German luxury carmaker — intends to roll out a 'robot car' by the year 2021. Interestingly, the company is carrying out a large amount of R&D for autonomous and connected cars at its research lab in India — its biggest development centre outside Germany.

Mumbai: The Securities and Exchange Board of India or Sebi’s online filing and registration system for intermediaries to usher in ease of business has had a mixed effect. The registration process on an average according to market participants has doubled or become three times as against the earlier timeline of a month.

In any other year, this month would have been the occasion to wonder if ITC Ltd would face a hike in duties on cigarettes in the Budget. Under the goods and services tax (GST), that has changed as the rate fixing decision now rests with the GST Council. Not that it has made life easier for ITC. The surprise hike in cess on cigarettes in July has hit ITC’s performance for the second quarter now.

Bengaluru: Wipro Ltd’s chief executive officer (CEO) Abidali Neemuchwala says his nearly two-year effort to bring about a turnaround at India’s third largest information technology (IT) company is almost complete and it is just a matter of time before the Bengaluru-based firm starts reporting industry-matching growth.

Automotive electricals manufacturer Lucas TVS will launch traction motors designed for electric vehicles by next year in what the 55-year-old TVS Group company believes is a key de-risking strategy to align with the global transition towards electric vehicles.

The company will set up a trial production line dedicated to its EV journey inside one of its seven plants, with room to scale up, based on demand.

MUMBAI: State Bank of India (SBI) will be hiring nearly 9,500 junior assistants for customer support and sales functions. This is one of the largest recruitment drives by the lender since 2013.

It comes at a time when the bank's employee headcount has gone down by over 10,000 during the current fiscal owing to attrition and a voluntary retirement scheme following the merger of associate banks with itself.

The key stock indices Sensex and Nifty jumped to new highs in early session on foreign fund inflows and persistent buying in bluechips like RIL that posted better-than-expected quarterly earnings.

The 30-share index rose by 152.43 points, or 0.42 per cent, to hit a new high of 35,664.01, surpassing its previous intra-day record of 35,542.17 hit on Friday (January 19).

The Indian rupee neared 64 level against US dollar on Monday after falling as much as 14 paise in the early trades. The Indian rupee lost 14 paise against US dollar at 63.9987 against the US dollar at the interbank foreign exchange market on Monday. The domestic currency lost 5 paise in the opening session to start the day at 63.89 apiece US dollar on Monday. The Reserve Bank of India had fixed the reference rate of the rupee at 63.7183 against the US dollar on Friday.

Global brokerages Jefferies and CLSA cheered for the shares of Reliance Industries, after India’s most valued company by market capitalization reported a 25% increase in quarterly profit, beating analysts’ estimates, buoyed by profits from Reliance Jio and petrochemical business. Consolidated net profit rose to Rs 9,423 crore in the quarter ended December from Rs 7,533 crore for the comparable period last fiscal. Notably, revenue rose to Rs 1.1 lakh crore, an increase of 30.5% from Rs 84,189 crore last fiscal, on account of doubling of sales in retail operations and the addition of Reliance Jio’s numbers.

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