RCom, Ericsson agree on settlement; green signal for Reliance Jio deal

The NCLAT asked the Anil Ambani-controlled firm to pay Ericsson Rs 5.5 billion by the end of September

The National Company Law Appellate Tribunal (NCLAT) stayed the May 15 order of the National Company Law Tribunal (NCLT) in Mumbai, which had admitted Reliance Communications (RCom) and two of its subsidiaries for insolvency proceedings.

The NCLAT asked the Anil Ambani-controlled firm to pay Ericsson Rs 5.5 billion by the end of September.

With the stay on bankruptcy proceedings, RCom can now continue with its asset monetisation scheme involving the sale of towers, optic fibre cable network, spectrum and media convergence nodes to brother Mukesh Ambani-controlled Reliance JioInfocomm (Jio) for Rs 170 billion.

On Tuesday, NCLAT chairman Justice S J Mukhopadhaya asked the parties to settle the matter stating that the fate of operational creditors under the corporate resolution process was not ideal, especially if Ericsson wished to recover the majority of its dues.

NCLAT also asked RCom and Ericsson to file an affidavit by June 7 stating that the two companies will abide by the settlement.

Ericsson India, a subsidiary of the Swedish telecom equipment maker and service provider, had filed a case at NCLT, Mumbai last September seeking the liquidation of Reliance Communications (RCom), and its subsidiaries Reliance Infratel and Reliance Telecom, in order to recover Rs 11.5 billion.

The three companies were subsequently admitted under the Insolvency and Bankruptcy Code (IBC), and NCLT appointed a resolution professional (RP) to take over the management of each company. Ericsson had argued that it had entered into a seven-year agreement in 2014 with RCom and its subsidiaries for maintaining, upgrading and developing the latter's telecommunications infrastructure, which was not honoured.

RCom and its subsidiaries owed Ericsson around Rs 9.78 billion for their services which, Ericsson's counsel told the NCLT, had increased to around Rs 16 billion given that there were delays in the payment, despite several notices being issued to the Anil Ambani controlled companies.

RCom filed its appeal with the NCLAT, and was awarded with a stay on the order admitting the three firms under the IBC.

RCom and its subsidiaries now have the permission to go ahead with the debt restructuring plan that was prepared in December 2017. There were fears of the three Reliance group companies undergoing insolvency proceedings, which would have meant that the asset monetisation scheme under the plan would not be allowed.

Monsoon in Karnataka: Heavy rains rattle Mangalore, Udupi; schools shut

National Weather Forecasting Centre has predicted heavy rains in Kerala and the coastal Karnataka region till June 2

Karnataka Heavy rains accompanied by thunderstorm and lightning wreaked havoc in Karnataka on Wednesday, compelling the state to shut down schools and colleges across coastal Karnataka's Dakshina Kannada district. Mangaluru and Udupi were the worst affected, with reports of property loss and waterlogging coming from several areas. .

Private weather forecast agency Skymet today said, "Southwest Monsoon has now covered entire Kerala, most parts of Coastal Karnataka and some more parts of Bay of Bengal." The weatherman added, "Conditions remain favourable for Southwest Monsoon further advance covering parts of Northeast India during the next 24 to 48 hours".

Schools in Karnataka will remain closed on Thursday.

"We have advised all state-run and private schools and colleges across the district to remain closed for two days as a safety measure due to heavy rains flooding roads and localities in the district," Sasikant Sentil, Deputy Commissioner told reporters in Mangaluru, about 350 kilometres from state capital Bengaluru.

Here are the top updates on rains in coastal Karnataka:

1. Heavy rains are expected in Kerala and the coastal Karnataka region till June 2, according to the National Weather Forecasting Centre predictions.

2. Schools in Karnataka will remain closed on Thursday

3. As many as 12 people have been injured, according to Dakshina Kannada Deputy Commissioner Saisikanth Senthil. Mangaluru was one of the most affected with at least 52 houses there being damaged in the rains, according to media reports. Five rehabilitation centres have been opened and compensation for the injured will be announced on Wednesday, ANI reported.

4. Prime Minister Narendra Modi took cognizance of the matter and said that all assistance would be provided for those affected in the rains. "I pray for the safety and well-being of all those affected by heavy rains in various parts of Karnataka. Have spoken to officials and asked them to ensure all possible assistance in the affected areas," Narendra modi tweet.

I pray for the safety and wellbeing of all those affected by heavy rains in various parts of Karnataka. Have spoken to officials and asked them to ensure all possible assistance in the affected areas.

2018 edition of Nokia 2, 3 and 5 announced: Here's what has changed

The trio of smartphones brings host of improvements in term of features and specifications over their predecessors - the Nokia 5, Nokia 3 and Nokia 2

HMD Global, a Finnish company behind the Nokia-branded phones, on May 29 announced the Nokia 5.1, Nokia 3.1 and Nokia 2.1. The trio of smartphones brings host of improvements in term of features and specifications over their predecessors – the Nokia 5, Nokia 3 and Nokia 2.

Built from a single block of 6000 series aluminium, the Nokia 5.1 gets a bigger and modern screen of 5.5-inch in 18:9 aspect ratio. Not just the screen, the resolution has also been raised to fullHD+ to make it sharp and crisp for watching multimedia content. The phone is powered by MediaTek Helio P18 octa-core processor, which runs at a maximum frequency of a 2.0 GHz. In terms of imaging, the phone’s primary camera has been upgraded with a 16-megapixel sensor that supports phase detection auto-focus. To accommodate new format screen, the company has moved fingerprint sensor to the back and the capacitive navigation keys of the predecessor are now replaced with on-screen navigation keys. Being a Google Android One smartphone, the phone boots latest version of Android Oreo out of the box and is promised to get an Android P update.

The Nokia 5.1 will be available in three colour variants -- copper, tempered blue and black, and two storage and RAM configurations -- 2GB/16GB and 3GB/32GB.

The Nokia 3.1 also sports an 18:9 aspect ratio screen of 5.2-inch, covered under Gorilla Glass protection. However, the resolution still maxes out at HD+, same as predecessor. The phone features a polycarbonate body and metallic chassis made of aluminium processed through CNC process. The phone is powered by MediaTek 6750 chipset, which is an octa-core system-on-chip with Cortex-A53 cores. In terms of imaging, the phone has a 13MP primary camera, and an 8MP selfie camera with 84.6 degree wide-angle lens.

The Nokia 3.1 will be available in three colour combinations -- blue/copper, black/chrome and white/iron, and two storage and RAM options -- 2GB/16GB and 3GB/32GB.

The Nokia 2.1 sports a 5.5-inch HD screen and dual front-facing stereo speakers. Powered by a 4,000 mAh battery, the smartphone boots Android Oreo Go edition operating system, which is a trimmed down version of Android Oreo designed to work optimally in low-end devices with 1GB of RAM or less. The phone is powered by Qualcomm Snapdragon 425 SoC, paired with 1GB RAM and 8GB of internal storage. On the imaging front, the phone sports an 8MP primary camera and a 5MP front-facing.

The Nokia 2.1 will be available in three metallic colour combinations -- blue/copper, blue/silver and grey/silver.

Belkin Boost-Up wireless charging pad: Tangle-free charging for smartphones

The Boost-up Wireless Charging Pad (Rs 2,999) is compatible with most modern smartphones, including phones that support Qi charging format

Pick up any flagship phone these days, and it features wireless charging. But there’s a catch: Almost no phone manufacturer bundles in a wireless charger. Thus, the customer, after paying big bucks for a phone with myriad features is often unable to use one of the most-touted ones.

A quick search on any shopping site reveals a wide range of wireless chargers, more specifically those which adhere to the Qi charging format. But most are from unknown Chinese manufacturers, and thus, there’s no guarantee about what they would turn out to be.

Thankfully, accessories major Belkin has a solution. The Boost-up Wireless Charging Pad (Rs 2,999) is compatible with most modern smartphones. I used it with the Apple iPhone X and the Samsung Galaxy Note8.

Initially, I faced a problem. The iPhone X had absolutely no charge, so I was apprehensive about whether I had placed it properly. Thankfully, there’s a green LED that lights up once the phone is aligned right. The charger comes in black and white, so you could match it with your phone’s colour. But, while there’s a microUSB cable in the pack, there’s no AC adapter.

The charger works well and the non-slip surface helps, especially if you have to use it in a moving vehicle. Also, once I got used to using this pad, I felt free from untangling the wires of ordinary chargers, especially if you carry multiple ones. But bear in mind that it takes way longer to charge on a pad than while using the charger, especially if you’re used to newer fast-charging technologies.

CBSE Class 10 result 2018 at 4 pm today; check your score on http://cbse.nic.in

CBSE 10th result 2018 will be declared on May 29, check for updates on Business Standard

CBSE class 10th results 2018 will be declared on Tuesday at 4 pm. The Central Board of Secondary Education (CBSE) will release the results on its official website — cbse.nic.in.

According to Union Education Secretary Anil Swarup's tweet, the CBSE 10th result will be declared on Tuesday.

CBSE announced the class 12 result on Saturday, with the overall pass percentage coming to 83.01 per cent. The top three regions were Thiruvananthapuram with 97.32 per cent, Chennai with 93.87 per cent, and Delhi with 89 per cent.

Students can also check their results on http://cbseresults.nic.in and CBSE Result 2018, Class 10 & 12 Board Results 2018, cbseresults.nic.in. Over 1.6 million students appeared for the Class 10 exams this year.

ALSO READ: CBSE 12th result 2018: 91,800 get compartment; what they must do now

Meghna Srivastava, from Ghaziabad, became the national topper with 499 marks out of 500 in CBSE Class 12 examination 2018. Anoushka Chandra from Ghaziabad secured the second position with 498. A Vijay Ganesh from Kerala topped the differently able category with a score of 492. Pooja Kumari of Dehradun secured the second position with 489 and, Lavanya Jha of Delhi came third with 487.

ALSO READ: CBSE 12th result 2018 topper Meghna bags 99.8%; CBSE Class 10 result soon

STEPS TO CHECK CBSE CLASS 10 RESULT 2018:

— Go to the CBSE official website http://cbse.nic.in

— Click on CBSE Class 12th Result 2018 or CBSE Class 10th Result 2018

— Enter your admit card details and get your CBSE Class 10 Result 2018

— Download your CBSE Result 2018 for future reference

Students can access their results via SMS charged at 50 paise per SMS

Check CBSE result through Google

CBSE has partnered with Google to host the CBSE Class 10 results on the search engine. Students can check their results on Google by searching for CBSE Class 10 result. They will have to enter roll number to login and access their results.

Check CBSE Board Exam Results 2018 through Microsoft

Through Microsoft application's SMS organiser, students will be informed about CBSE 10th result 2018. The candidates will have to register with their roll number, school code and the date of birth to be able to access their marks.

CBSE Class 10, Class 12 results 2018 date, steps to download marks; updates

There will be delay in CBSE Class 12 results due to re-examination following the CBSE paper leaks. Check for updates on Business Standard

CBSE Class 10 Result 2018, CBSE Class 12 result are likely to be released by the end of next week. According to a media report, Central Board of Secondary Education may declare CBSE Class 10th and 12th result on May 31. CBSE will release the results on its official website cbse.nic.in or http://cbseresults.nic.in. Declaration of CBSE Class 10 Result 2018, CBSE Class 12 result may be delayed due to the re-examinations held on account of the infamous CBSE paper leaks. Nearly a month after the CBSE exam question papers were leaked, the re-test of the Class 12 Economics paper took place on April 25. Earlier, reports said that CBSE results would be declared on time, however, a CBSE official confirmed that they would be delayed.

"The results will be declared by the end of May. However, the CBSE Board will confirm the date just a day before the exams as the evaluation is in advanced stage despite re-exam of economics paper. We have rigorously followed up with schools to send more evaluators than the required number," a senior Board Official said. There were also reports of the CBSE's Class 10 mathematics paper being leaked, but the board decided against its re-test, saying class 10 was just an "internal segment" of school Education system. The reports of the leak of the CBSE papers had caused disappointment among students across the country last month. In Delhi, students held protests accusing the CBSE of negligence and demanded immediate action against the guilty.

According to Delhi Police, the class 12 economics paper was leaked on 23 March - three days before the scheduled date of the examination.

Top 5 highlights of CBSE Class 12 and 10 exams 2018:

1. Retest of economics paper will delay results: CBSE students can check their CBSE Class12 and Class 10 results on cbse.nic.in. There will be a slight delay in CBSE CLass 12 results due to re-test following CBSE paper leak.

ALSO READ: Google ties up with CBSE for results, exam-related info

2. SC dismisses another plea for CBI probe into CBSE paper leak case: The petition alleged that the CBSE gave the order to protect the "real culprits" within the body and demanded that it be quashed, but a bench of justices S A Bobde and L Nageswara Rao said that the court would not like to the interfere with the conduct of the re-examination.

"We cannot interfere with the decision of CBSE. On this very ground this petition stands dismissed," the bench said, noting the top court had earlier dismissed similar prayers.

The counsel appearing for petitioner social activist Sanjoy Sachdev said that the CBSE is not a statutory authority and it had no authority to conduct the re-examination.

3. Google ties up with CBSE for results, exam-related info: Tech giant Google said it has collaborated with Central Board Of Secondary Education(CBSE) to allow students check their results on its platform. "Starting from Monday with the JEE Main exam results, the Cbse is enabling students to look up exam results directly on the google search page," Google said in a statement.

This will help students quickly, securely, and seamlessly locate their exam score on their Smartphone or desktop, it added.

4. CBSE Class 12 result 2018 and class 10 result date: According to sources, CBSE will announce the Central Board of Secondary Education CBSE Class 12 Board Results 2018 on May 26 i.e. third week of May.

Thoothukudi protest: How NDA govt decisions helped Vedanta bypass norms

NDA government's decisions helped Vedanta bypass public consultations for the Copper smelter expansion in Thoothukudi

The controversial expansion of Vedanta's 1,200 tonnes per day copper smelter in Thoothukudi protest, Tamil Nadu has been stayed by the High Court on May 23 after at least 11 people protesting against the plant were shot dead by state police. The court has ordered that the company consult people before building the plant - something the company claimed it was legally not required to do.

Vedanta claims it had legally got an environmental clearance from the Union government to expand the smelter to double the capacity without consulting people. A perusal of Union environment ministry’s and several court records show the NDA government made an interpretation to green regulations in December 2014, which helped particularly plants such as that of Vedanta's at Thoothukudi to be built without consulting people of the project-affected area.

This exception in the environmental safety regulations was made on the request of various industries, show court and government documents reviewed by Business Standard. The exception to the rules was carved out through orders of the then environment minister and called a ‘clarification’. This clarification would in months ahead allow Vedanta and several others to start constructing their plants, such as the one in Thoothukudi, without public consultations. This interpretation by the NDA government was fortuitous for companies because the environment ministry under UPA government had insisted in May 2014 that projects such as Vedanta’s in Thoothukudi were required by law to first go through public consultations.

In 2016 the National Green Tribunal found, the December orders of the NDA government, which favoured Vedanta, to be illegal. It had to go to the point of threatening bailable orders against the environment ministry officials in the case to divulge information on the matter. Ministry officials said rescinding the government’s December 2014 orders would adversely impact many projects.

Eventually, the NGT quashed the December 2014 orders. On the NGT’s instructions, the ministry had to pass fresh orders clearly stating that projects in industrial parks without environmental clearances needed to conduct public hearings.

But, by then Vedanta had secured an extension of the green clearance to its expansion project in Thoothukudi without the need for a public hearing.

It is citing this 2016 ruling of the National Green Tribunal and other facts that came to light during the case, that the High Court on Wednesday has ordered Vedanta to stop its expansion plans in track and go back to first consult the people.

Kerala Nipah crisis: Man who contained virus in 2001 sees no need to panic

To stop the spread, you may need to quarantine the area, says Dr NK Ganguly, former director, ICMR

When the first outbreak of Nipah (NiV) hit India in 2001 at Siliguri, NK Ganguly, the then director general, Indian Council of Medical Research (ICMR) and Director General of Health (DGH) was there to oversee, supervise and understand what was happening on the ground. Dr Ganguly is a Microbiology specialising in tropical diseases. Currently, Dr Ganguly is the President of Apollo Hospitals Educational and Research Foundation (AHERF). He wrote the first paper in India on the Nipah virus.

Excerpts from an exclusive interview.

When and where did the first outbreak in India take place?

In India, the first outbreak happened in 2001 at Siliguri. The spread was very fast and people died. The dead were mostly nurses and caregivers. People who were in close proximity of the affected.

How was the infection/ Nipah virus identified?

Though the first reported outbreak happened in Malaysia in 1998, so the sequence of virus was available even though the strain in Siliguri was different.

We collected samples and cultured them and we found a vaccine strain that cannot infect further in case of Siliguri. So we started looking in-depth and found that it was the fruit bats which were responsible. If a fruit half eaten by fruit bat was eaten by a human, the saliva which the bat left behind caused the disease in human beings. It causes brain fever, respiratory disorder and the only option is to give symptomatic refilled. But you have to ensure that the caregiver is adequately protected because it is contagious.

A similar Nipah viral attack happened in Dhaka (2006). Once again the culprit was a bat although the sequence was different. It was contained quickly once the virus was identified.

What can be done to contain the fallout?

It spreads in an area where bats live, they live in high concentration and since they also spit and their excreta is around, so there is high concentration of the virus. It makes the population vulnerable. To stop the spread, you may need to quarantine the area. There are high frequency sound waves that only bats can identify, using those you need to disperse the bats. Even culling is not required.

Make sure that you isolate the patient and the caregivers take adequate precautions.

Sterlite protests: Madras HC stays construction of new copper smelter

For almost 100 days now, agitators had been protesting against the capacity expansion by Sterlite Copper; they claimed that the plant was causing harm to its employees

Tuticorin, Tamil Nadu: The Madras High Court's Madurai Bench on Wednesday stayed the ongoing construction of a new copper smelter at Sterlite Copper's Tuticorin plant.

A day before, as many as 11 people had been killed and 20 others injured at Thoothukudi, or Tuticorin, as a protest against Vedanta's Sterlite Copper unit -- going on for 100 days since the company announced its plans to invest Rs 25 billion in doubling the capacity of its existing facility to 800,000 tonnes per annum -- turned violent. The protesters claimed the plant had been causing harm to its employees and increasing the capacity of the plant would aggravate the problems.

Meanwhile, the Union home ministry has sought a report from the Tamil Nadu government over the incident in Tuticorin.

Following a gas leak in March 2013, the then chief minister late J Jayalalithaa had ordered the plant's closure, following which the company moved the National Green Tribunal. With the tribunal overturning the government order, the state moved the Supreme Court against it, and the petition has been pending since.

Here are the top developments in the Tamil Nadu protests:

1. The Madras High Court's Madurai Bench on Wednesday put a stay on the ongoing construction of a new copper smelter by Sterlite Copper in Tuticorin under its capacity expansion efforts, according to ANI reports.

ALSO READ: Sterlite protests: Govt assures action 'respecting' people's feelings

2. Marumalarchi Dravida Munnetra Kazhagam(MDMK) Chief Vaiko on Wednesday met those injured during protests against Vedanta's Sterlite Copper.

Makkal Needhi Maiam (MNM) chief Kamal Haasan also met those who were injured during the anti-Sterlite protests at General Hospital in Tuticorin. The families of the victims said they were facing difficulties because of his visit and asked him to leave, ANI reported.

MNM, along with other Opposition partiesm, had condemned the violence that took place on Tuesday and blamed the AIADMK-led Tamil Nadu government for the unrest and deaths in the state.

ALSO READ: Stalin to miss Kumaraswamy's swearing-in to meet anti-Sterlite protestors

3. DMK has called for an all-party protest on May 25 over the Sterlite protest incident.

4. In a government statement, Tamil Nadu Chief Minister E Palaniswamy announced Rs 1 million for those who lost family members, Rs 300,000 for people who were injured severely, and Rs 100,000 for those with minor injuries..

5. In an official statement, Sterlite Copper late on Tuesday expressed regret and sorrow over the deaths that took place during protests against it in Tamil Nadu's Tuticorin. The company said it had appealed to the government to ensure safety of the employees of the plant, as well as the surrounding communities.

"It's with great sorrow and regret that we witnessed today's incidents around the protest today at Tuticorin. The company has appealed to government and authorities to ensure the safety of our employees, facilities and surrounding communities. Sterlite Copper plant is non-operational as we await approval for the consent to operate," the statement read.

Karnataka CM Kumaraswamy says have stopped Modi's Ashwamedha horse: Updates

H D Kumaraswamy's swearing-in as Karnataka chief minister saw a show of strength by a galaxy of Opposition leaders who are looking to unite in a bid to take on Narendra Modi in 2019

Karnataka Chief Minister H D Kumaraswamy has said that the Janata Dal (Secular) and Congress alliance has succeeded in "tying" Prime Minister Narendra Modi's Ashwamedha horse (victory horse) in Karnataka, insinuating that the Modi-Amit Shah duo's electoral juggernaut has been halted. On Wednesday, Kumaraswamy was sworn in as the 25th chief minister of Karnataka in a ceremony in Bengaluru that brought together anti-Bharatiya Janata Party (anti-BJP) regional and Opposition parties on a single platform ahead of the 2019 Lok Sabha elections.

"I had said after the Uttar Pradesh election results came out that my aim is to tie the Ashwamedha horse of Narendra Modi and Amit Shah (BJP President). Today, both Congress and JD(S), together, have tied their Ashwamedha horse in Karnataka," said Kumaraswamy, adding, "Probably, in the days to come, Amit Shah has to go to Narendra Modi with lifeless Ashwamedha horse, as we have tied their horse."

The swearing-in ceremony, which also saw Congress' G Parameshwara sworn in as Karnataka deputy chief minister, showcased rare scenes of bonhomie between United Progressive Alliance (UPA) Chairperson Sonia Gandhi, Congress President Rahul Gandhi, Nationalist Congress Party (NCP) chief Sharad Pawar, Bahujan Samaj Party (BSP) supremo Mayawati, Nationalist Trinamool Congress (TMC) chief and West Bengal Chief Minister Mamata Banerjee, Telugu Desam Party (TDP) chief and Andhra Pradesh Chief Minister N Chandrababu Naidu, Kerala Chief Minister Pinarayi Vijayan, Puducherry Chief Minister V Narayanasamy, Aam Aadmi Party (AAP) chief and Delhi chief minister Arvind Kejriwal, Samajwadi Party chief Akhilesh Yadav, Communist Party of India (Marxist) General Secretary Sitaram Yechury, Communist Party of India Member of Parliament D Raja, Rashtriya Lok Dal (RLD) chief Ajit Singh, Rashtriya Janata Dal (RJD) leader Tejaswi Yadav, and former Union minister Sharad Yadav.

The BJP, for its part, decided to abstain from attending the swearing-in ceremony despite seven of its leaders, including former chief ministers Sadananda Gowda, Jagadish Shettar and S M Krishna, Union minister Ananth Kumar, and officiating Assembly Speaker K G Bopaiah, being invited. The BJP emerged as the single largest party after the May 12 Assembly elections and had formed a government with B S Yeddyurappa as the chief minister that lasted for all of three days. Yeddyurappa said they were boycotting the event as BJP was observing a "black day" across the state.

Here are the top ten developments regarding government formation in Karnataka and Kumaraswamy taking oath as chief minister:

1) Kumaraswamy says Congress, JD(S) have buried the hatchet to work together:Kumaraswamy allayed fears over the working and stability of the Congress-JD(S) coalition government. "I would like to convey to the people of Karnataka that they need not worry about the survival or duration of our government even after the trust vote as we (JD(S) and Congress) have buried the hatchet to work for the state's development as alliance partners," the chief minister said.

Infosys puts a break on fresher hiring, relying more on experienced hands

Share of young engineers in 18-25 age group drops to 28% in FY18, senior staff ratio goes up

India’s second-largest information technology company, Infosys, is relying more on experienced hands than fresh graduates even though it weighs to its costs, according to the company’s latest annual report. This is happening when the sector is witnessing slower growth with increasing pressure on profit margins.

According to the latest annual report for 2017-18, the percentage of the Bengaluru-headquartered company’s employees in the age group of 18-25, came down to 28.16 per cent, from 31.19 per cent in the previous financial year. In absolute terms, the number of employees in this group was 57,475, against 62,489 in FY17. Employees in this group largely constitute of newly-hired engineers from colleges.

The percentage of employees above this age group had gone up during this period. For example, employees in the age group of 26-30 constituted 32.25 per cent of the total staff strength in FY18, against 32.09 per cent in the previous year. Similarly, mid-level employees in the age group of 31-40, constituted 32.5 per cent, which rose 168 basis points over the previous financial year. The ratio of employees in the 41-50 age group also saw a rise of 100 basis points over the previous financial year to 5.92 per cent. However, despite the higher ratio of experienced staff in workforce, Infosys incurred only 3.6 per cent rise in expenses towards salaries and bonus in FY18 to Rs 346.7 billion.

The change in Infosys’s employee mix also reflects the growing trend of slower fresher hiring by Indian IT firms, expected to gain pace in the current financial year as well. Owing to uncertain demand environment and changes in client demands, Indian IT companies are hiring fewer number of freshers while majority of them are resorting to just-in-time hiring in case of lateral (experienced ones).

“The intake of fresh engineers by Indian IT firms is certainly going to drop further as companies are seen steadily improving their (employee) utilisation rates. While they are no more hiring in bulk through campus recruitment programmes, the normal attrition in higher age groups is also less owing to lesser avenues outside which means the ratio of senior staff that the sector employs will go up,” said Kris Lakshmikanth, chief executive officer & managing director of Head Hunters India.

Infosys said the percentage of senior management level employees in the age group of 51-60 was 1.03 per cent, against 0.90 per cent in FY17.

Employees above 60 years of age constituted 0.19 per cent of the overall strength, which was at 0.14 per cent in the previous financial year.

Tamil Nadu protests: Sterlite plant non-operational after 9 dead in clashes

Protesters have alleged that the plant was polluting groundwater in their area; CM Palaniswami announced a compensation of Rs 1 million (Rs 10 lakh)

At least nine people were killed and another 20 injured on Tuesday on the 100th day of protest against the expansion of Vedanta's Sterlite Copper unit in Tamil Nadu's Tuticorin, also known as Thoothukudi.

Later in the day, Sterlite Copper said it is unfortunate of what happened on Tuesday and called itself to be non-operational, ANI reported.

Protesters have alleged that the plant was polluting groundwater in their area. Sterlite Copper represents the copper unit of Vedanta Limited which operates a 400,000 tonnes per annum-plant in Tuticorin.

Chief Minister Palaniswami said in a statement in Chennai that the protesters took out a procession towards the collectorate in defiance of the prohibitory orders clamped in the specific area in Tuticorin.

Hurling stones and setting government vehicles an78d public property on fire, the agitators went on the rampage in the town, about 600 km from Tamil Nadu capital Chennai.

Police said nearly 5000 protesters gathered near a local church and insisted on taking out a rally to the district collectorate after they were denied permission to march to the copper smelter plant.

Police personnel prepare to tackle a crowd as agitators demanding closure of Vedanta's Sterlite Copper unit entered the 100th day, in Tuticorin, on Tuesday. The agitation turned violent with police opening fire.

Initial pushing and shoving soon led to violent clashes after agitated locals began hurling stones at police and overturned a vehicle. Security personnel used batons and burst teargas shells to break up the protest.

Many were injured in stone-pelting by the agitators, who also set some vehicles on fire. Windscreens of some government cars were smashed and bank premises were attacked by the rampaging mobs.

Police said section 144 of CrPc has been invoked in and around the Sterlite unit to provide security, according to the orders of the Madras High Court.

Meanwhile, a peaceful demonstration was held near the old bus stand in the town, also demanding the closure of the Sterlite unit and the proposed expansion of the plant.

Several shops in this town, Srivaikundam and Oddapidaram remained shut in support of the protest, police said.

The district has been witnessing several protests by locals and others against the Sterlite Copper plant in Tamil Nadu and its proposed expansion.

Mandsaur anniversary: First test of Rahul Gandhi's opposition unity effort

Rahul Gandhi's presence in farmers' death anniversary next month will be a litmus test for Opposition unity

A meeting in Budha village of Mandsaur district in Madhya Pradesh could next month turn out to be the first test for Congress President Rahul Gandhi’s promise that his party would be the lynchpin of Opposition unity.

It would also test the popularity of the Shivraj Singh Chouhan-led Bharatiya Janata Party (BJP) government in the state in an election year.

Prominent Opposition leaders, including the Congress president and leading activists, are likely to assemble in Budha village, 20 kms from Mandsaur town on June 6, to mark the first anniversary of the death of six farmers in police firing last year.

On June 6, 2017, six farmers had been killed in police firing in Mandsaur. The farmers were protesting against the abysmal prices for their onion and garlic crops. The incident had triggered sustained farm protests in several parts of the country.

As the Mandsaur firing incident completes a year, garlic prices have hit rock bottom in Madhya Pradesh, while onion rates have again plummeted in the Malwa-Nimar region, the epicentre of the farmers’ agitation.

The meeting is significant since Madhya Pradesh has Assembly elections due in November-December, along with Rajasthan, Chhattisgarh and Mizoram. Theis will also be the last round of Assembly elections before the 2019 Lok Sabha polls.

The Congress party’s Madhya Pradesh in-charge Dipak Babaria confirmed that Gandhi was likely to be in Mandsaur on June 6.

Swaraj Abhiyan’s Yogendra Yadav said leaders of the All India Kisan Sangharsh Coordination Committee, or AIKSCC, an umbrella body 190 farmer organisations, would also be in Budha village on June 6 to pay their respects to the slain farmers.

However, the committee has decided it will stay away from any event organised under the Congress party’s flag. The leaders are not averse to sharing the stage with either the Congress chief or leaders of other political parties. But they have suggested that the meeting to pay respects to the slain farmers be organised by locals, and not under the banner of any political party.

Activist Medha Patkar will lead a march from Badwani to Bhopal, where farmers will observe a symbolic fast on June 5 to protest the Narendra Modi government’s “failure to address farm distress”, said former legislator and AIKSSC leader Sunilam.

All India Kisan Sabha, affiliated to the Communist Party of India (Marxist), will also hold countrywide protests on June 6. In the last one year, the Kisan Sabha has led farmer movements in Rajasthan and Maharashtra, including the ‘long march’ from Nashik to Mumbai a couple of months back.

Amazon may buy 10% in Future Retail for $600 mn, expand offline retail biz

The move comes days after Walmart acquired a majority stake for $16 billion home-grown e-commerce firm Flipkart at a valuation of around $20 billion.

Looking to expand and consolidate its presence in the Indian offline retail market, American e-commerce giant Amazon is in talks with Kishore Biyani-controlled Future Retail to acquire a 10 per cent stake in it, according to a FactorDaily.comreport.

The report comes days after Amazon's global rival Walmart acquired a majority stake for $16 billion in home-grown e-commerce firm and Amazon's main rival in India, Flipkart, at a valuation of around $20 billion. With an increased burden of competition from Flipkart because of Walmart's entry into the sector, Amazon is looking to make inroads into the offline retail sector to enhance its position in India's retail space.

Here are some of the details of Amazon-Future Retail deal as reported by FactorDaily.com :

1. Future Retail's valuation: The deal values Kishore Biyani's Future Retail, the company that owns brick-and-mortar retail outlets like Big Bazaar and Easy Day, at about $6 billion (Rs 40,872 crore).

2. Deal value: Amazon may spend around $500-$600 million to acquire a 10 per cent stake in Future Retail, whose market cap is around $4 billion.

3. Coping up with the competition: After Walmart's backdoor entry into India's e-retail sector through Flipkart, competition is expected to get fierce in the country's e-retail space. To expand its base in the Indian consumer market, Amazon is looking to enhance its business profile through the offline retail channel.

4. Amazon in India: According to a Citi Research report, Indian e-commerce sector is expected to be worth $202 billion in the next 10 years. Amazon is expected to be a major part of this growth, with a 35 per cent market share. The current valuation of Amazon India is pegged at $16 billion.

5. Amazon's previous investments in offline retail: Amazon had previously picked up a 5 per cent stake in Shoppers Stop for $26.35 million (Rs 179.25 crore).

6. Other buyers in the race: Amazon is not the only one eying a stake in Future Retail. Jack Ma's Alibaba and Walmart have also shown interest in it. Discussions are underway and any decision is yet to be taken.

7. What makes Future Retail a good investment target for Amazon? With a series of acquisitions, Biyani has consolidated Future Retail's business and it could be a perfect choice for Amazon to enter into the offline market. Future Retail has 773 stores across the country, Big Bazaar and Easy Day combined. As Amazon wants to build a food and grocery business, it can capitalise on the fact that Future Retail gets 35 per cent of its business from garments and grocery and has a large number of in-house brands in 68 categories.