Business

Prasad said an organisation must be able to sustain changing ownership, technologies, products, strategies.

"For the last ten years, we have been continuously clocking 8 per cent growth," he said.

The overall food and beverages segment saw an inflation of 10.65 per cent in May, higher than 10.61 per cent in April.

As per current norms, the spectrum won by telecom operators can be shared with other operator holding permit to provide services in the same area.

The merger when completed will lead to creation of the country's fifth largest software services firm.

Traders will watch out for any RBI intervention to prevent the rupee from weakening further.

Earlier, it had hit touched an all-time low of 57.32 per dollar in June 2012.

The local currency has been falling for five straight weeks, taking its losses since the start of May to 5.71 per cent.

In the biggest such penal action in country's real estate sector, ED alleged that the firm has violated the rules stipulated by the RBI.

The rupee lost 4.8 per cent of its value in May and was the worst performing Asian currency in May.

In the overseas market, the company registered a 6.9 per cent growth in sales to 24,393 units last month from 22,817 units in the year-ago period.

The carrier reported nil sales for the period under review as against sales of Rs 782.83 crore in the fourth quarter of FY 2012.

Jet Airways, on Thursday, offered to sell nearly 43 lakh shares via Offer-for-sale (OFS) mechanism.

The BSE Realty sector index fell the most by 2.50 per cent to 1,786.45, followed by 1.13 per cent drop in metal index.

Clarifications have been sought on the deal, which involves a 24 per cent stake purchase in Jet by Etihad.

Besides L&T, Sensex constituents including RIL, HDFC Bank, HDFC, Hero MotoCorp, Tata Power, GAIL, Sterlite Ind and BHEL were among notable losers.