MUMBAI Shares in GMR Infrastructure(GMRI.NS) fell 4.5 percent in early trade after Maldives cancelled its biggest foreign investment project, a $511 million deal with GMR to develop an international airport.
The cancellation of the deal signed in 2010 follows President Mohamed Waheed's failure to renegotiate terms, sources close to president's office have told Reuters. (Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)
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Increased outsourcing of digital technology services by western companies helped Tata Consultancy Services Ltd, India's largest software services exporter, post a 14.5 percent rise in quarterly net profit, meeting market expectations. Full Article