A look at the headlines in this sector right now:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.