The Union Cabinet on Wednesday approved the merger of two ailing state-owned telecom companies - BSNL and MTNL. SEBI and BSE have sought clarification from Infosys for not disclosing information regarding the whistleblower complaint. Larsen and Toubro (L&T) have reported a 6.83% y-o-y growth in consolidated net profit at Rs 2,770 crore for the second quarter of FY20. Read for more top stories from the world of business and economy:
The Cabinet has confirmed that as part of the revival plan, BSNL and MTNL's assets worth Rs 38,000 crore will be monetised
Infosys has launched a thorough investigation into the "unethical practices" complaints against CEO Salil Parekh and CFO Nilanjan Roy and recused them to ensure an impartial probe
The government had budgeted for a gross tax collection of Rs 24.6 lakh crore for the current financial year against the revised estimate of Rs 22.5 lakh crore for 2018-19, an estimated 9.5 per cent growth in 2019-20
Consolidated revenue from operations jumped 15.16 per cent to Rs 35,328.45 crore for the quarter ended September 30, 2019, as against Rs 30,678.13 crore in the year-ago period
"The auto major had posted a net profit of Rs 981.99 crore in the same quarter last year," Hero MotoCorp, the world's largest two-wheeler manufacturer, said in a filing to the Bombay Stock Exchange.