MUMBAI: The benchmark BSE Sensex recovered about 70 points in early trade on Friday after investors indulged in fresh buying taking cues from encouraging retail inflation numbers for September, despite weaker revenue guidance by TCS and Infosys for the current fiscal.

A higher trend on other Asian bourses, helped trading sentiment improve, brokers said.

Mahindra Group, the $18 billion conglomerate with businesses from India’s largest SUV maker to financial services and farm equipment, is prepared to pare stakes in its publicly traded units to facilitate fundraising by the companies.

The group is ready to cut its shareholdings in six listed entities to less than 51 percent, including Mahindra & Mahindra Financial Services Ltd., which has a market value of 210 billion rupees ($3.1 billion) — if the strategy they’re pursuing calls for it, Chief Financial Officer V.S. Parthasarathy said in an interview in Mumbai.

Larsen & Toubro (L&T) has moved higher by 2.6% to Rs 1,474 on the BSE after the company said it has won a major order worth Rs 3,799 crore from the Dedicated Freight Corridor Corporation of India (DFCCIL). This prestigious order has been secured by a consortium of L&T and Sojitz Corp., Japan.

“This design and build integrated package involves the construction of civil (embankment, structure, tunnel), track works, overhead electrification, traction substations and signaling & telecommunication works for double line electrified tracks with 2X25 kv AC, high rise overhead catenary system capable of operating at a maximum train speed of 100 km/h, from Rewari to Dadri (128 km),” L&T said in a press release.

Reliance Communications Ltd , India's fourth-biggest cellular carrier by customer base, said on Friday it signed a non-binding term sheet with Brookfield Infrastructure Group to sell its tower assets in a deal that could fetch it an upfront Rs 11,000 crore rupees ($1.65 billion).

It would also get "49 percent future economic upside" from the tower business, based on certain conditions, the company, controlled by billionaire Anil Ambani, said in a statement. It did not divulge much details.

Mumbai, Oct. 13: The results season began on a tepid note for the technology sector as revenue growth at Tata Consultancy Services (TCS) lagged analysts estimates because of multiple factors. However, there was some consolation when the country's largest IT services company reported better-than-expected net profit numbers.

TCS posted a net profit of Rs 6,586 crore for the second quarter ended September 30, a 8.76 per cent growth over Rs 6,055 crore in the corresponding period of last year. Analysts had expected the company to post a net profit of around Rs 6,300 crore.

To give users even more ways to watch, Facebook has rolled out the ability to stream videos from the social network to your TV through devices like Apple TV or Google Chromecast.

To watch a video from Facebook using your smartphone, press the TV symbol in the top right corner, then select the device you want to stream and the video will be streamed to your TV.

India has reportedly nominated State Bank of India chairperson Arundhati Bhattacharya as the World Bank managing director and chief operating officer's position, but road to final selection may not be easy. India may need strong backing of US and other category 1 member countries, who have a large voting share.

The selection has to be cleared by the World Bank’s board of directors, which consist of country representatives.

Infosys Ltd, India’s second largest software exporter cut its annual forecast for the second time to 8-9 per cent growth this year, suggesting that the IT industry struggles in an uncertain business environment is far from over.

In July, it had reduced its earlier guidance to grow at 10.5 to 12 per cent, while it saw the impact of Britain’s exit of Europe, project cuts and delayed decisions by banking clients to implement projects has pushed the company to lower its guidance second time in as many quarters.

Bob Dylan has won the Nobel Prize for Literature for having created new poetic expressions within the great American song tradition, the Swedish Academy said on Thursday in awarding the 8 million Swedish crown ($927,740) prize.

The prize is worth 8 million Swedish crown ($927,740). The Prize was awarded last this year and is named after dynamite inventor Alfred Nobel. Born Robert Allen Zimmerman on May 24, 1941, Bob Dylan took his name from poet Dylan Thomas and was heavily inspired by the Beat generation poets and thinkers like Jack Kerouac and Allen Ginsberg.

Samsung Electronics on Thursday began its refund and exchange programme for Galaxy Note 7 owners in South Korea after it discontinued production of the faulty smartphone.

Samsung Electronics on Thursday began its refund and exchange programme for Galaxy Note 7 owners in South Korea after it discontinued production of the faulty smartphone.

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