Top Business & Market Headlines Today — BL Morning Report, January 15, 2025

Infosys Q3 results: Revenue jumps 8.9% to ₹45,479 crore; beats expectations Infosys reported a decline in profit for the December-ended quarter of FY26, with PAT falling 9.6% sequentially and 2.2% year-on-year (YoY) to Rs 6,654 crore. Despite the dip, the IT major raised its constant currency revenue growth guidance for FY26 to 3–3.5%, up from the 2–3% forecast issued in the previous quarter. Revenue rose 8.9% YoY and 2.2% quarter-on-quarter to Rs 45,479 crore. In constant currency (CC) terms, revenue grew 1.7% YoY and 0.6% QoQ. Large deal momentum improved, with total contract value (TCV) reaching $4.8 billion during the quarter, including 57% net new deals, up from $3.1 billion in the September quarter. PM Internship scheme falters as funds go unused Data from Controller General of Accounts (CGA) showed as against the budget allocation of over Rs 11500 crore, the Ministry spent little over Rs 500 crore. The allocation for the full year has a 94 per cent share, or over Rs 10,800 crore, for the PM Internship Scheme. During FY25, budget allocation was revised to around Rs 1,078 crore from Rs 2,667 crore. The ministry had admitted before the Standing Committee that it was largely because the funds were surrendered under the PM Internship Scheme. CGA data showed actual expenditure was around Rs 680 crore only. Maharashtra, Tamil Nadu top performers in Niti Aayog’s export preparedness index 2024 Maharashtra has topped the Niti Aayog’s Export Preparedness Index (2024) in the large States category followed by Tamil Nadu and Gujarat in the second and third places respectively.  Uttarakhand, Jammu & Kashmir and Nagaland bagged the top three spots among small States, North East and Union Territories. The report was released by Niti Aayog CEO B V R Subrahmanyam on Wednesday. EPI 2024 assesses the export capabilities (performance and readiness) and potential of Indian States and Union Territories covering the period FY2022-FY2024 and has been prepared with the support of Deloitte. India steps up bunker construction along LoC after Operation Sindoor  Following Operation Sindoor, the central government has intensified its focus on strengthening border infrastructure in Jammu and Kashmir. In north Kashmir’s Uri sector, the government is constructing at least 500 new bunkers to protect civilians living along the Line of Control (LoC), officials said, as part of broader measures aimed at enhancing safety in border areas vulnerable to cross-border shelling. The lack of adequate bunkers in border areas across Jammu and Kashmir during the Operation Sindoor operation laid bare the risks faced by residents during periods of heightened tension along the 740-km-long LoC.