IT Update
Infosys drives Sensex up 116 points The markets were witness to the return of the Infosys magic on Tuesday, leaving many wondering whether the fortunes of the market had reversed for the good. Huge buying orders, attributed to a handful of FIIs, drove the scrip close to its maximum permissible 16% limit on both the bourses. Voltas likely to revamp business into two units Voltas is expected to constitute itself into two distinct businesses. While one of these will concentrate on growth through manufacture, brand and product development, the other business will cater to light and heavy infrastructural projects. Re's downhill trek continues The rupee continued its southward sojourn and hit a new low of 45.74/76 on Tuesday. Opening the day at 45.57/59 from its last close at 45.55/56, the rupee went lower on good corporate and inter-bank demand for dollars. Narmada Cement losses wipe out 50% of networth Another high profile acquisition has fallen by the wayside. Narmada Cement, which was acquired by diversified conglomerate Larsen & Toubro for a whopping Rs 240 crore, is being referred to the Board for Industrial & Financial Reconstruction. IBM India to set up lease-finance arm IBM India is planning to set up its leasing and financing arm - IBM Global Finance - in the country shortly. The new outfit will offer easy financing and leasing solutions to its customers.
Infosys drives Sensex up 116 points
Voltas likely to revamp business into two units
Re's downhill trek continues
Narmada Cement losses wipe out 50% of networth
IBM India to set up lease-finance arm