Infrastructure firm Larsen & Toubro has bagged a Rs 5,580—crore contract from state—run NTPC for setting up a thermal power project at Khargone in Madhya Pradesh.

“Larsen & Toubro (L&T) has secured a turnkey order from NTPC for setting up a 2x660 MW greenfield thermal power plant in Khargone district of Madhya Pradesh on EPC (engineering, procurement and construction) basis, ” the company said in a statement.

Infosys on Wednesday said it will announce its earnings for the fourth quarter and the fiscal ended March 2015 on April 24, a deviation from its usual practice of kicking off the corporate results season.

Instead, it will be India’s largest software services firm Tata Consultancy Services (TCS) that will announce its set of numbers on April 16.

Hyundai Motor India on Wednesday reported 3.8 per cent decline in total sales at 49,740 units in March. The company had sold 51,708 units in the same month last year, HMIL said in a statement.

In the domestic market, Hyundai sold 39,525 units last month compared with 35,003 units in March 2014, up 12.9 per cent. However, the company’s exports declined by 38.9 per cent to 10,215 units as against 16,705 units in the same period last year.

WhatsApp calling has finally arrived. WhatsApp users will need to update to version 2.12.5 (or above) from Google Play. If the update is not available directly from Google Play, users can get the latest version from here. The calling feature will automatically get activated after updating the app. Both caller and receiver has to update to the latest version to use the calling feature.

As he retired from India’s third largest IT services firm today, Wipro CFO Suresh Senapaty said the company is ready to grab a larger share of USD 8 trillion global IT spending that will rise further.

Senapaty, who hung his boots at the Bangalore-based firm after 35 years, described his journey as “enriching” and “wonderful”.

Upgrade Reliance Industries (RIL) to ‘overweight’ with a price target of R1,062 per share. RIL’s profits stagnated for the last five years, leading to under performance of 80%. FII ownership and valuations are at multi year lows. With 70% of $40 billion capex for F14-18e now behind, profits are finally set for a three-year CAGR of >15%.

Valuations are now compelling and FII under-ownership is at a five-year high. With higher confidence in F17e earnings, P/E is 9x and P/B is 1.x – near 10 year trough. Even relative P/B of 0.4x versus the Sensex is at a ten-year low.

The merger deal between Kotak Mahindra Bank and ING Vysya Bank has received the Reserve Bank's approval, which would create the country's fourth largest private sector lender.

"The scheme of amalgamation (of Kotak Mahindra Bank and ING Vysya Bank) shall come into effect from April 1, 2015," Kotak Mahindra Bank said in a statement quoting RBI approval. It got RBI approval for the merger yesterday.

Shares of Tata Motors have moved higher by 2% at Rs 561 on the National Stock Exchange (NSE) ahead of rights issue.

The stock will turn ex-rights on Monday, April 6, 2015, in the ratio of 6:109 i.e. six shares will be allotted for every 109 shares held.

Shares of Maruti Suzuki India were trading lower by 2% at Rs 3,622, falling 4% from its intra-day high on the National Stock Exchange (NSE), after reporting 1.6% year-on-year fall in total sales at 111,555 units in March 2015, due to lower sales in the compact segment. The company had sold a total of 113,350 units in March 2014.

The category-wise sales of compact segment (Swift, Ritz) fell 12.5% to 38,710 units in March as against 44,251 units in the same month last year, Maruti Suzuki India said in a statement.

After two consecutive hikes, petrol prices were today cut by 49 paise per litre and diesel by Rs 1.21 a litre on softening international oil rates.

The reduction in rates will be effective from midnight tonight.

Prices of petrol in Delhi will be Rs 60 a litre from tomorrow as against the current Rs 60.49, while diesel will cost Rs 48.50 per litre as compared with Rs 49.71 currently, Indian Oil Corp (IOC), the nation's largest oil company, said.

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