A look at the headlines in the sector right now:

  1. Media speculation about Infosys affairs ‘designed to stir up gossip’, CEO Vishal Sikka says: His letter to employees is his first reaction to reports that the company’s founders had raised several governance concerns with its board.
  2. SBI posts over 70% rise in consolidated profit in third quarter: On a standalone basis, the bank’s bottom-line figure soared 134% year on year from Rs 1,115 core to Rs 2,610 crore.
  3. WhatsApp is rolling out two-step verification security for all users as an optional security measure: Any attempt to verify a phone number on the app ‘must be accompanied by the six-digit passcode that you created using this feature’.
  4. SC asks Subramanian Swamy to submit evidence to prove Chidambaram’s involvement in Aircel-Maxis case: You must bring credible material on record in two weeks to compel us to direct probe, the bench said.
  5. French man sues Uber for €45 million claiming a bug in its app led to his divorce: The case is expected to be heard next month.
  6. Snap will spend $1 billion on Amazon cloud services: The company clarified that it may build its own infrastructure in the future.
  7. April-January indirect tax collections up 23.9%, direct tax collections rise 10.8%: Most of the growth registered was in personal income tax collections compared to corporate tax collections.