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Sensex ends 64 points lower, Nifty settles at 10,652

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Sensex down

Mumbai, Jan 29: Uncertainties in the global market and caution ahead of the interim budget kept the major equity indices in a tight range on Tuesday, which lead to both key indices ending on a flat to negative note. Sensex closed 64 points lower.

Additionally, caution prevailed over the ongoing third quarter results season and stock-specific volatility reined in the market’s upward movement.

Globally, investor sentiments were subdued as the US-China trade conflict intensified after the US Justice Department filed criminal charges against Huawei accusing the world second-largest smartphone marker of bank fraud, obstruction of justice and theft of technology.

“Market opened on a negative note due to uncertainties surrounding the global market and the upcoming US Fed policy,” said Vinod Nair, Head of Research, Geojit Financial Services.

“However, towards the closing, market managed to recoup some of the losses supported by strengthening rupee and short covering ahead of F&O expiry.”

The BSE Sensex ended 64 points or 0.18 per cent lower at 35,592.50, while the Nifty50 closed 9.35 points or 0.09 per cent down at 10,652.20.

Oil and gas stocks ended 0.92 per cent lower, while the key finance and banking stocks ended on a flat to negative note.

The top gainers on the BSE were Sun Pharma, Bajaj Finance, Tata Motors (DVR), TCS and Asian Paints, while the top losers were Yes Bank, Larsen and Toubro, HDFC and HDFC Bank.

IANS

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No lay-offs by Wipro amid crorona crisis, no such plan

The Bengaluru-headquartered IT behemoth employs more than 1.75 lakh people in several countries across the globe.

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Azim Premji Wipro

Bengaluru, July 13 : Global software major Wipro has not laid off any employee during the Covid-19 pandemic nor has any such plan at the moment, a top company official said on Monday.

“I just want to give comfort and say this categorically that we have not laid off a single employee as the pandemic unfolded,” Wipro Chairman Rishad Premji said at the company”s 74th annual general meeting (AGM) held virtually.

“At the moment, we have no plans to lay off anybody at the company,” he said, replying to a female shareholder.

“We are trying to drive cost deductions through various other means operationally and otherwise,” said Premji.

The Bengaluru-headquartered IT behemoth employs more than 1.75 lakh people in several countries across the globe.

–IANS

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Google to invest Rs 75,000 crore to boost digitisation in India

The investment will focus on four areas important to India’s digitisation– first enabling affordable access to information to every Indian in their own language.

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Sundar Pichai

New Delhi, July 13 : Google CEO Sundar Pichai on Monday announced a Google for India digitisation fund through which, the company will invest Rs 75,000 crore or approximately $10 billion over the next five to seven years to help India go digital.

“We will do this through a mix of equity investment, partnerships and an operational infrastructure ecosystem in India. This is a reflection of our confidence in the future of India and its digital economy,” Pichai said during the Google for India virtual conference.

The investment will focus on four areas important to India’s digitisation– first enabling affordable access to information to every Indian in their own language.

“Second, building new products and services that are deeply relevant to India”s unique needs. Third, empowering businesses to continue or embark on digital transformation. And fourth, leveraging technology and Artificial Intelligence for social good in areas like health, agriculture and education,” the Google CEO said.

India’s Union IT Minister Ravi Shankar Prasad were also present during the conference.

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Business partner of Rajasthan CM’s son under ED scanner

Sharma was summoned by the ED four days ago. The agency suspects that large scale overseas transactions have taken place.

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Ashok Gehlot

New Delhi, July 13 : Amid political crisis in Rajasthan, the Enforcement Directorate (ED) on Monday conducted raids at Hotel Fairmont in Jaipur.

Investor Ratan Kant Sharma, close aide of Chief Minister Ashok Gehlot’s son, is under the agency’s scanner.

Sharma had allegedly received around Rs 96.7 crore from Mauritius and has stakes in Hotel Fairmont. Sharma and Vaibhav Gehlot, son of Chief Minister Ashok Gehlot, are business partners.

Sharma was summoned by the ED four days ago. The agency suspects that large scale overseas transactions have taken place.

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