Live news updates: Reliance confirms approaching Zee; Infosys ups guidance

Punit Goenka, CEO & MD, Zee Entertainment.
Live news updates: said on Wednesday it facilitated talks between and Zee Entertainment earlier this year on a possible tie-up, prompting the conglomerate to confirm it approached the TV network for a merger with help from the US investment firm. "We ... have never resorted to any hostile transactions," said Reuters. "We regret our being drawn into the dispute between Zee and Invesco," it said.

Infosys revenue growth guidance has been raised by the company on Wednesday for the financial year 2021-22 to 16.5-17.5 per cent from the earlier 14-16 per cent. Beating Street expectations, Infosys reported a net profit of Rs 5,428 crore, up 11.7 per cent YoY and 4.3 per cent sequentially. Revenue for the quarter was up 20 per cent to Rs 29,602 crore.

Reuters reported that Amazon is manipulating search results by running systematic campaign to boost its own product lines in India, citing thousands pages of internal company documents it had examined. The documents allegedly reveal how Amazon's private-brands team in India secretly exploited internal data from Amazon.in to copy products sold by other companies, and then offered them on its platform.

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Publisher: Business Standard

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