A look at the headlines in this sector right now:
- Indian IT firms trim their workforce to tide over slow growth trajectories: A forum has appealed to the Tamil Nadu and Telangana governments to take action against Cognizant for allegedly illegally sacking staff.
- Income Tax Department launches online facility to link Aadhaar with PAN: The facility can be found on the homepage of the department’s e-filing website.
- HCL Technologies registers 12.3% growth in net profit in Q4: Besides, the company shrugged off visa-related concerns and said that they had identified the risk seven-eight years ago.
- Airtel will invest $2.5 billion in India in 2017-2018 to expand its 4G network, says report: Around $500 million will also be pushed into its Africa business, the company said.
- Investments in Snapdeal and Ola cost SoftBank $1.4 billion in losses in 2016-’17: But the Japanese firm’s operating profit jumped 13% to 1.03 trillion yen.
- Strong auto stocks help markets end on a new high: The Sensex closed 2.81 points higher at 30250.98 while the Nifty rose 15.10 points to touch 9422.40.
- Cannes’ new rule may block Netflix and other streaming services from entering the festival next year: The organisers have said that from 2018 onwards, all competing movies need to first be run in French theatres.