A look at the headlines in this sector right now:

  1. Infosys’ net profit drops 2.8%, but will return Rs 13,000 crore to shareholders: CEO Vishal Sikka said unanticipated ‘execution challenges’ had affected the overall performance of the company.
  2. United Airlines will refund tickets for all passengers on flight from which a man was dragged out: All three security officers who forcefully removed the physician from the overbooked flight have been placed on leave.
  3. Pre-orders for Samsung Galaxy S8 smartphone have exceeded those of its predecessor S7: Consumers have put memories of Galaxy S7 fires out of their minds.
  4. Revenue secretary Hasmukh Adhia says service tax under Goods and Service Tax may move up from 15% to 18%: However, exempted sectors like health and agriculture will likely to remain so.
  5. Adani Power will have to write off 80% of its revenue from the Mundra project after Supreme Court order: The company had said 80% of the Rs 4,400 crore it earned from Mundra was designated as compensatory tariff.
  6. Subscribers of Employees’ Provident Fund Organisation will get loyalty benefits: The statutory body said it will give Rs 50,000 to subscribers who continue parking their money with EPFO for at least 20 years.
  7. The Enforcement Directorate conducts raids in offices of chartered accountants, tax experts in Delhi: Move will help unearth black money, the officials said.