Business

Infosys Ltd(INFY.NS), India's second-largest software services exporter, on Thursday posted a 3.5 per cent rise in quarterly net profit, lagging analyst estimates.

The National Stock Exchange Nifty shed 42.30 points, or 0.50 per cent, to 8,405.80.

However, smart rise in local equities amid sustained capital inflows tried to restrict the fall, a dealer said.

The Indian currency had ended the last fiscal year at 59.91 against the dollar.

Sensex recovered by 87.88 points, or 0.31 per cent, at 28,249.60 in early trade on Wednesday.

Lagarde was due to give a speech in New Delhi on Monday and will meet officials from the Reserve Bank of India in Mumbai on Tuesday.

Sensex provisionally closed on Tuesday's trade down 109 points or 0.38 per cent.

The auction is the biggest ever sale of 2G and 3G airwaves where government is selling spectrum in four bands.

The list of services which will incur the service tax has not been decided.

Jaitley wooed the tax paying public by providing incentives like Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000 and Rs 30,000 for senior citizens.

Prabhu said railway needs to go for a transformation and the quality of services is a priority for his government.

Debt-related inflows also continued to support the rupee which rose for the third straight session, said forex brokers.

"The acceptance of the recommendations of 14th Finance Commission is the culmination of these efforts which would have a long last ng positive impact on the states' finances," Nadda said.

Many centres - despite having been built in the last decade - are struggling to draw shoppers or retailers because of poor design or because they are difficult to manage.

All directorates have given inputs to prepare the status of their ongoing projects and pending ones, reasons for delays and solutions, the official said.

"My government attaches enormous importance to the well-being of farmers. This will need value-added agriculture, market reform, use of technology and improving productivity in areas with untapped potential," Pranab Mukherjee said.