Bharti Airtel Q4 net slips 31% at Rs 1,401 cr

Bharti Airtel, India's top mobile phone carrier, on Thursday reported a bigger-than-expected 31.5% fall in quarterly profit, hit by losses at its African operations. Sales figures stand at Rs 16,260 crore as compared to Rs 10,749 crore. There has been a 51% surge in sales.

Reliance Industries

Reliance is down nearly 3%, the company has replied to DGH Indian Petro saying that the production of natural gas and crude oil could drop even further. The gas sales from D1–D3 could drop to 38 mmscmd in FY13.

RIL supports Market

Reliance Industries gained 2% as refining market dynamics are expected to be favorable at least for the next few months after refineries shut down in earthquake stricken Japan. About 2.5 mn tpa of naphtha crackers shut in Japan and Ethylene chain too impacted due to shutdowns.

Infosys calls back all employees based in Japan

Infosys on Tuesday called back all its employees based in Japan. Infosys has around 350 employees working in various projects in Japan. Pai said that Japan will take atleast 1-2 years to come back to normal. According to the software industry body NASSCOM, Japan accounts for about two per cent of the IT-BPO industry revenues.

Hero to buy out Honda stake in Indian JV for $851 mn

Hero Investments has agreed to buy Honda Motors Ltd's 26 percent stake in HERO HONDA for around $851 million in a deal that will see the Japanese automaker exit its joint venture in India after more than 26 years.

Hero Investments is buying the stake at Rs 739.97 a share, Shares in Hero Honda fell more than 3 percent following the news.