The counting of votes for the presidential election held on Monday began at 11:00 am on Thursday and the name of the next occupant of the Rashtrapati Bhawan would be known by 5.00 PM.

First, the ballot box of Parliament House will be opened, and then, the ballot boxes received from states would be counted on alphabetical basis.

Wipro, country's third largest software services firm, is expected to report a marginal sequential drop in constant currency revenue for the June quarter later in the day, while the company will also consider a proposal for buyback of its equity shares.

Analysts believe revenue growth in CC terms would be well within its earlier guidance of negative 2% to nil growth for the quarter. In dollar terms, the revenue is seen declining by 0.1-0.5%.

The Union Cabinet has approved the plan to sell the government's 51 per cent stake in state-refiner HPCL to explorer ONGC.

For the government and economy, this move has multiple benefits. This single deal alone would fetch about 41 per cent of the total divestment target of Rs 72,500 crore, assuming that the deal happens at HPCL’s current market cap of Rs 58,500 crore. Though the management control would stay with the government through ONGC, in which it holds a 68.07 per cent stake, technically, the government’s hold over HPCL would be reduced from 51.11 per cent to 35 per cent (68.07% of 51.11%) effectively.

Tata Group, the Indian conglomerate that manages more than 100 operating companies, is weighing a plan to streamline its information technology and infrastructure businesses, people with knowledge of the matter said.

The conglomerate is considering a restructuring that would see several of its IT businesses moved under publicly traded Tata Consultancy Services (TCS), according to the people. Tata group, which wants to reduce the number of companies it oversees, may sell some smaller units that don’t fit with its strategy, the people said, asking not to be identified because the information is private.

The Securities and Exchange Board of India (Sebi) is planning to clamp down on depository receipts (DRs) as part of efforts to check the flow of black money into the stock market.

Sources said Sebi planned to make it mandatory for foreign depositories to reveal details of end-beneficiaries holding DRs issued by Indian companies. The new framework will align know-your-customer (KYC) requirements for DRs with provisions to prevent money laundering.

Reliance Communications’ Unlimit today announced a strategic alliance with Chinese telecom gear maker Fibocom to design and manufacture modules for wireless communications and develop internet of things (IoT) solutions. Unlimit said the number of connected devices in India is projected to rise from 200 million today to 3 billion by 2020, and nearly every part of the economy will be positively impacted by IoT.

A recent Morgan Stanley report has downgraded the Indian utilities industry. It highlighted that renewable energy is becoming so cheap that thermal power, mostly coal, is uncompetitive. This is a highly significant market signal which will likely be accompanied by growth in the already impressive list of high calibre international investors moving into India’s renewables sector, including from Japan, the Netherlands, Italy, China, France, Australia, Singapore, Hong Kong and Canada. The Institute for Energy Eonomics and Financial Analysis (IEEFA) has long predicted India’s growing global leadership role in the transformation to a low carbon economy.

About 210 websites of the central and state government departments were found to be displaying personal details and Aadhaar numbers of beneficiaries, Parliament was informed today. “UIDAI (The Unique Identification Authority of India) has taken note of the same and is regularly monitoring the status to get the Aadhaar data removed from the said websites,” Minister of State for Electronics and IT, PP Chaudhary said in a written reply in Lok Sabha.

Samajwadi Party leader and former Defence Minister Mulayam Singh Yadav on Wednesday claimed that China was ready to attack India in collaboration with Pakistan and asked the government to reverse its stand on the Tibet issue and support its independence.

Raising the matter in the Lok Sabha against the backdrop of tension between India and China, he asked the government to inform Parliament what it has done to meet any likely challenge from the neighbouring country.

Finance Minister Arun Jaitley on Wednesday described the Goods and Services Tax (GST) as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring down prices of goods.

Pitching the GST as a measure beneficial for the country at a meeting of the BJP parliamentary party attended by Prime Minister Narendra Modi, senior leaders and party MPs, Jaitley said prices of goods has come down between four to eight per cent since its roll-out on July 1.

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