BENGALURU: Infosys will spend about Rs 400 crore over the next four years to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepen its commitment to sustainability, a senior executive at India's second-largest software services company said.

The Bengaluru-based company will have to offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend Rs 70 crore this year on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.

Larsen & Toubro, the country's biggest engineering company, is open to spending as much as $1 billion on acquisitions for its software-services unit as the subsidiary prepares for an Initial Public Offering.

Buying companies will help L&T Infotech build scale and compete with larger rivals, R Shankar Raman, L&T's Mumbai-based chief financial officer, said in an interview. The company might spend between $100 million and $1 billion, he said, without being more specific.

Despite the decisive push given to it by the NDA government since it came to power and by Prime Minister Narendra Modi himself, the ambitious Aadhaar project is far from meeting its target of universal coverage by June this year, also impacting the Direct Benefits Transfer Scheme that is based on it.

While the PM had himself set the deadline of June 2015 for universal enrollment under Aadhaar at a high-level meeting chaired by him in the first week of September last year, the current enrollment figure under the project is only nearly 84 crore as of now. This means that nearly 40 crore of the population is yet to be brought under its ambit. Even the initial target set by this government of 100 crore enrollment at the “earliest” is yet to be achieved.

MUMBAI: Tata MotorsBSE -0.71 % launched the new Gen X Nano at a starting price of Rs 1.99 lakh (ex-showroom Delhi). The launch is being seen as a make-or-break move for the car. While the manual transmission variants will cost between Rs 1.99 lakh to Rs 2.49 lakh, the easy shift AMT version has been launched between Rs 2.69 lakh to Rs 2.89 lakh.

The GenX Nano, repositioned as a Smart City Car, comes in a record 21 different options and offers all the bells and whistles including automatic transmission and Bluetooth connectivity, is expected to take on entry hatchbacks Maruti SuzukiBSE 0.76 % Alto and Hyundai Eon, which sell about 15,000 units every month.

Mahindra Holidays & Resorts India Ltd (MHRIL) today reported a standalone net profit of Rs 10.42 crore for the fourth quarter ended March 31, 2015.

The Mahindra & Mahindra group firm had posted a net profit of Rs 24.38 crore during the January-March quarter of 2013-14.

Global IT solutions provider NIIT Technologies today said it has signed a strategic agreement to acquire majority stake in Incessant Technologies.

Global IT solutions provider NIIT Technologies today said it has signed a strategic agreement to acquire majority stake in Incessant Technologies.

At a time when competitors such as Infosys, Wipro and Cognizant have been aggressive with inorganic growth (mergers and acquisitions), India’s largest information technology (IT) services provider, Tata Consultancy Services (TCS), prefers to grow organically.

Rajesh Gopinathan, chief financial officer at TCS, had told the Business Standard in an earlier interview: “We are always open to large investments and we have the capacity to do it. We believe the opportunity for organic growth is so large that an acquisition-led growth strategy is not something that we are very keen on.”

The government might be busy projecting Indian Railways as the vehicle of economic growth, but the national transporter is yet to catch up on project award and implementation.

Analysts tracking the infrastructure sector say, the Railways, with the exception of the dedicated freight corridor project, is witnessing weak tendering.

Mobile is the big tech focus for India — with initiatives like Facebook’s Internet.org and Google’s Android One, to name but two — but that isn’t stopping Google from introducing new budget Chromebook laptops in the South Asian country.

The Mountain View-based firm announced two sub-$250 Chromebooks, laptops powered by its web-based Chrome OS platform, from domestic manufacturers Nexian and Xolo.

Flipkart is reportedly all set to raise debt for the first time in near future by selling Rupee bonds worth Rs 3,000 crore. However, the plan is still in a draft stage for now. Additionally, last week there was a news of the company raising $550 million at a valuation of $16 billion and sources indicated that post this round it would be going for debt funding.

According to ET, Flipkart’s business model, which involves discounting to gain market share, and burning through cash, may lead investors to demand a steep interest rate as high as 16% a year if Rupee bonds are issued.

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