Business highlights

Following are the top business stories at 1812 hours:

DEL36 CAB-BSNL-MTNL BSNL, MTNL to be merged

New Delhi: The government on Wednesday decided to merge loss-making telecom firms MTNL and BSNL as part of a revival package that includes raising sovereign bonds, monetising assets and voluntary retirement scheme (VRS) for employees.

DEL34 BIZ-CAB-2LD-WHEAT Govt hikes MSP for wheat by Rs 85/qtl; pulses up to Rs 325/qtl

New Delhi: The government on Wednesday hiked the minimum support price for wheat by Rs 85 to Rs 1,925 a quintal and for pulses by up to Rs 325 per quintal.

DEL32 CAB-OIL Govt opens up fuel retailing to non-oil companies

New Delhi: The government on Wednesday opened up fuel retailing norms, allowing non-oil companies to set up petrol pumps to increase competition.

FES41 BIZ-IMF-INDIA IMF sees Indian economic growth rebounding to 7 pc next fiscal

Singapore: The International Monetary Fund (IMF) sees Indian economic growth rebounding to around 7 per cent in the next financial year, supported by measures like monetary policy stimulus and corporate income tax cuts.

DEL12 BIZ-INFOSYS-BSE BSE seeks explanation from Infosys on non-disclosure of whistleblower complaint

New Delhi: Leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure about a whistleblower complaint which alleged that the company's top executives were following "unethical practices" to shore up profits through irregular accounting ways.

DCM26 BIZ-TOMATO Govt asks Mother Dairy to cut tomato rates by Rs 2-3/kg

New Delhi: To provide relief to people of the national capital from high tomato prices, the Centre has asked state-run Mother Dairy to reduce the vegetable's rates by Rs 2-3 per kg from Thursday.

DEL42 BIZ-LD STOCKS Markets resume upward trend; IT, finance stocks sparkle

Mumbai: Equity indices found firmer ground on Wednesday, led by IT, finance and auto stocks, as investors tracked corporate results amid mixed cues from global markets.

DCM41 BIZ-SEBI-INFOSYS Sebi starts probe against Infosys over whistleblower charges

New Delhi: Markets regulator Sebi has begun its probe into alleged non-disclosure of price-sensitive information by Infosys' management and also corporate governance lapses in the wake of serious allegations levelled by a whistleblower, while it is also examining possible insider trading in the company's securities.

DCM39 BIZ-RESULTS-HCLTECH HCL Tech Q2 net profit up 6.9 pc to Rs 2,711 cr, announces bonus shares

New Delhi: IT major HCL Technologies on Wednesday posted a 6.9 per cent rise in its consolidated net profit to Rs 2,711 crore for the September 2019 quarter, and raised its revenue growth forecast to 17 per cent for 2019-20.