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23 April, 2018 5:37 AM TCS becomes India's first company to hit $100 billion market cap

Led by the gain in the stock, the company's m-cap moved to Rs 6,69,053.08 crore (10.08 am). New Delhi: Tata Consultancy Services (TCS) Ltd on Monday became India's first company to hit market capitalisation $100 billion. Led by the gain in the stock, the company's m-cap moved to Rs 6,69,053.08 crore (at 10.08 am). The share price of the IT bellwether 28

21 April, 2018 3:03 PM ‘Walmart, Flipkart deal very soon’

Purchase of new equity likely to value e-commerce firm at at tleast $18 billion Walmart Inc. could seal a deal to buy a more than 51% stake in Indian online marketplace Flipkart as early as next week, two sources familiar with the matter said. The U.S. retail giant has been in talks with Flipkart for months to acquire a controlling stake in the firm as it looks 34

20 April, 2018 3:21 PM SJVN aims to generate 9.2 BUs electricity with Rs 900 cr capex this fiscal

State-run power producer SJVN Ltd is targeting to produce 9.2 billion units (BU) of electricity with a turnover of Rs 2,175 crore and Rs 900 crore capital expenditure in this fiscal. SJVN Ltd inked a memorandum of understanding with the Ministry of Power today to achieve 9,200 million units in 2018-19, the company said in a statement. Under the pact, SJVN, which 35

20 April, 2018 11:27 AM Mugabe summoned over alleged diamond looting

Former Zimbabwean leader asked to explain his own statement that $15-billion worth of diamonds were stolen from fields in the country’s east. A Zimbabwean parliamentary committee is summoning former leader Robert Mugabe to appear before it over alleged diamond looting during his rule. Mr. Mugabe, who resigned in November following a military intervention 53

19 April, 2018 4:46 PM RIL-BP starts satellite gas project

BP-Reliance Industries Limited (RIL) combine, on Thursday, announced the sanctioning of the ‘satellite cluster’ project in Block KG D6. The ‘satellite cluster’ is the second of the three projects in the Block KG D6 integrated development. Together, the three projects will develop a total of 3 trillion cubic feet of discovered gas resources with a total 37

19 April, 2018 3:13 PM Tata Consultancy Services fourth-quarter profit rises 4.5 percent

New Delhi: Tata Consultancy Services Ltd (TCS), India`s biggest software services exporter, reported a 4.5 percent rise in fourth-quarter profit on Thursday, beating market expectations. Net profit attributable to shareholders rose to 69.04 billion rupees ($1.05 billion) in the quarter ended March 31 from 66.08 billion rupees in the same period a year earlier 54

19 April, 2018 11:48 AM Qualcomm begins layoffs to cut annual costs by $1 billion

Qualcomm Inc has begun cutting jobs as part of its promise to investors to cut annual costs by $1 billion, the chipmaker said on Wednesday. "Qualcomm is conducting a reduction of our full-time and temporary workforce," a company spokesperson who declined to be identifies said, without disclosing the exact numbers of job cuts. Though the company first 41

19 April, 2018 8:36 AM Qualcomm plan 'has difficulty' resolving concerns: China

The Chinese government says Qualcomm Inc.'s plan for its $44 billion acquisition of NXP Semiconductors "has difficulty" resolving concerns of anti-monopoly regulators. The Commerce Ministry spokesman's comment Thursday was the first Chinese statement about the U.S. chip maker's proposed acquisition since a trade dispute blew up between Beijing and President 42

17 April, 2018 4:39 PM Rupee tanks to near 7-month low

The rupee extended its losing run for the second straight day, falling by another 15 paise to end at a near 7-month low of 65.64 against the U.S. dollar amid persistent capital outflows and a fresh ripple of geopolitical tensions. Headwinds in the form of consistent widening in the trade deficit accompanied by portfolio outflows amid unsupportive global 39

17 April, 2018 8:59 AM China rules U.S. sorghum was dumped, as trade tensions mount

China on Tuesday ordered importers of U.S. sorghum to pay deposits for possible higher tariffs in an anti-dumping investigation, adding to growing trade conflict with Washington. A preliminary ruling by the Commerce Ministry said U.S. sorghum was being sold at improperly low prices, hurting Chinese farmers. It said importers must post bonds of 178.6% of the value 14