Times Of India : Business (76)

Sensex gains above 250 points as markets erase losses

The 30-share BSE Sensex went up by 276.16 points to close at 31,568.01 while the broader 50-share NSE Nifty closed at 9,852.50, a gain of 86.95 points. Thus, Sensex and Nifty went past the psychological marks of 31,500 and 9,850 respectively.

Top domestic shareholders seek Nandan Nilekani's re-entry to Infosys

A senior fund manager, who signed the letter said investors want Nilekani back as the CEO.

Infosys interim CEO tries to motivate employees

Infosys interim CEO and MD U B Pravin Rao said employees must all continue the work they do to create the value the clients are counting on the company to deliver. It is the huge responsibility we carry. That's why there can be no disruptions to the work we set out to do every day.

By staying till March, Sikka may benefit from stock options

Infosys' vice-chairman and former CEO Vishal Sikka is staying back till March next year and the company said this was to ensure a smooth transition. But sources said his remaining eight-month stint in the company will also give him an opportunity to cash in on unvested equity awards.

Mergers can reduce state owned banks' need for govt capital : SBI chief

The statement comes after SBI merged all its five subsidiaries and Bharatiya Mahila Bank, which resulted in a massive spike in its provisions and bad loans ratio that touched double digits in the first consolidated results announced earlier this month.

Google and Walmart unveil e-commerce partnership

Walmart will integrate Google Express, which already allows customers to purchase products of a large range of brands, such as Costco and the pharmacy Walgreen's, into its platform in a bid to take on online shopping giant Amazon.

Railways to hire 2 lakh workers to put safety back on track

The world's fourth-largest rail network ferries millions of passengers every day, but doesn't have a good safety record.

Sensex gains above 100 points, Nifty reclaims 9,800-mark

The 30-share BSE Sensex opened with a gain of 115.62 points at 31,407.47 while the broader 50-share NSE Nifty started trading on 9,803.05, up by 37.50 points. The markets had opened on a similar note on Tuesday but it failed to hold on to the gains and finished flat.

Johnson & Johnson fined $417 million in talc cancer suit

Alibaba's UC Web Browser may face ban in India

UC Web, the browser owned by Chinese internet giant Alibaba, has come under the scrutiny of the Igovernment as part of investigations against Chinese companies over data theft. If found guilty of stealing data of Indian users, the company may be banned in the country, a top official said.

Telecom companies likely to get more time on deferred spectrum payment

The final recommendations of the group will be placed before the Telecom Commission and ultimately before the Cabinet. Incidentally, the Telecom Commission is slated to meet on September 1. The drafting of report has begun and will take a day or two, marking the final leg of the report's ...

New solar norms to stop bullying by discoms

Sensex, Nifty finish flat after a choppy day of trading

The 30-share BSE Sensex gained 33 points to end trading on 31,291.85 while the broader 50-share NSE Nifty finished at 9,765.55, up by a marginal 11.20 points. The markets had opened on a positive note on the back of healthy global and Asian cues and held the gains till afternoon.

Sebi scanner on Infosys stock movement, corporate governance

Since Thursday's close, investors have lost Rs 34,000 crore in market capitalisation, making them jittery that the tussle between the founders and the board could escalate, impacting the company's long-term growth

June quarter GDP to see modest recovery at 6.6%: Report

The report said while consumption and services growth indicators bounced back in July, industry, investment and external sector data remain weak, or have slowed at the margin.

State owned banks on strike, services might get affected

Bank strike on 22 August 2017: Deposit and withdrawal in bank branches, cheque clearance, NEFT and RTGS transactions will be affected. Operations at private lenders such as ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank are expected to be normal except delay in cheque clearances.

Nifty slips below 9,800-mark, markets trading flat

The 30-share BSE Sensex had gained 97.94 points at 31.356.79 while the broader 50-share NSE Nifty was at 9,785.25, up by 30.90 points. In morning trade, both the indices had opened with handsome gains as Nifty went past 9,800. The positive sentiment prevailed on the back of strong Asian and global ...

Ola partners Google to add 'Outstation' cabs to maps

Users will have to key in their destination on Google maps. Once that is done, the commuter can navigate to the transit tab and choose Ola as the commute option, upon which, they will be taken directly to the booking screen on the Ola app, the statement said.

Paytm Mall invests Rs 225 crore in logistics business

Paytm Mall is investing about Rs 225 crore in its logistics business ahead of the crucial festive season to prepare itself for the spike in demand and facilitate faster deliveries. Paytm Mall is payments major Paytm's online commerce arm which was hived off as a separate business this year.

Qatar Airways, Vistara in interline partnership pact

Qatar Airways currently operates to 13 cities in India from its Doha hub while the Tata-SIA run joint venture airline Vistara operates to 18 domestic destinations. An interline arrangement refers to a pact to issue and accept tickets for flights that are operated by the partner airline.

Apple makes HCL Infosytems shares soar. Here's how

On Monday, in a regulatory filing, HCL Infosystems said it has received confirmation for agreement for "distribution of iPhone and other Apple products" with Apple India. It had signed a non-disclosure agreement with Apple India on December 23, 2016 and had expressed interest in taking up ...

Patanjali now has competition from Sri Sri Ravi Shankar

Sri Sri Ravi Shankar's Art of Living to open 1,000 retail stores for selling ayurvedic toothpastes and soaps, launch clinics and treatment centres across India.

Not violating privacy laws, user data fully safe: Oppo

Oppo is the first company to officially comment after the government asked all handset makers that sell phones in India to share the security protocols they follow to secure mobile phones.

Paytm Mall to put $35 million in tech to strengthen logistics

The company also plans to shorten delivery timelines to provide same-day and next-day deliveries in electronics and appliances categories across 25 cities.

Sikka exit will hit Infy performance, share price: Analysts

Some brokerages have downgraded the stock to neutral and a few to hold, while others have reduced the price targets. In an attempt to address concerns, the board members, along with interim CEO U B Pravin Rao and the CFO MD Ranganath, will be meeting investors across six cities in the next 2-3 weeks

Lottery traders hold protest in Mumbai against 28% GST

SBI waives processing fees on personal loans

In a statement issued on Monday, the bank said that it will waive upto 100 per cent processing fee on car loans, personal gold loans and other personal loans. This is part of a 'festival bonanza' programme announced by the bank.

HCL Infosystems to distribute Apple products in India

In a regulatory filing, HCL Infosystems said it has signed an agreement for "distribution of iPhone and other Apple products" with Apple India, a confirmation of which it received on Monday. A partnership with HCL will also be beneficial to Apple as it will its enhance presence in more Indian ...

Sensex, Nifty tumble as Infosys, global cues continue to hurt markets

The Infosys stock once again faltered as it lost more than 5.50 per cent on both the indices. The IT giant's stock has come down by 15 per cent in the last two days of trading. Weak global cues also contributed towards the markets cutting a sorry figure.

Rosneft closes deal to buy 49% stake in Essar Oil

Essar Oil operates a 400,000 barrel-per-day oil refinery in Vadinar on India's west coast and sells fuels through its 3,000 retail stations in India. The deal also includes the Vadinar port and a power plant associated with the refinery.

Vishal Sikka's exit will hit Infosys performance, share price: Analysts

Some brokerages have downgraded the stock to neutral and a few to hold, while others have reduced the price targets. In an attempt to address concerns, the board members, along with interim CEO U B Pravin Rao and the CFO MD Ranganath, will be meeting investors across six cities in the next 2-3 weeks

Sensex, Nifty open flat, aiming for another recovery

The 30-share BSE Sensex opened on 31,609.93, up by 85.25 points while the 50-share NSE Nifty had gained 27.80 points to start trading on 9,864.25. At 9.28 am, both the indices were gaining above 0.30 per cent.

Infosys board under fire for 'botch-up'

The board of Infosys is coming under fire with experts probing whether it has failed to effectively shield outgoing CEO Vishal Sikka and resolve differences with founders, instead of escalating matters to a warlike situation.

Deposit rate cuts to lift banks' net margins by 15-18 bps

SBI has 36 per cent savings deposits, and Punjab National Bank has 34 per cent.

'Sikka may have stayed had board taken on Murthy earlier'

​​In the past, the board had adopted a placatory stance in public with Murthy often saying that Murthy holds an important role in the company and his inputs would be valued.

Banks likely to strike on Tuesday,services may be hit

Infy approves Rs 13k cr share buyback day after Sikka's resignation

The proposal entails purchase of up to 11.3 crore equity shares at Rs 1,150 apiece, which is nearly 25 per cent higher than previous closing. When the bourses closed on Friday, the Infosys stock had plunged 9.57 per cent to end at Rs 923.15 on the BSE.

Sikka saga: CEOs must manage ecosystem: Experts

ETFs: Are they good for you?

The $200-million transaction that rocked Infosys' boat

At the heart of the rift lies the Panaya deal. A symbol of the generation gap in corporate thinking around IT deals: "How much" vs "too much".

Banks stare at union strike on Tuesday, services may be hit

US law firms mull class action suit to recover Infy investors' possible losses

Four US law firms said they would be investigating claims on behalf of Infosys investors whether some of the officers and directors of the company engaged in securities fraud. This follows the sudden resignation of CEO Vishal Sikka and the steep drop in share prices.

No inconsistency in number of tax payers: CBDT

The statement by the tax department follows some doubting the numbers over different figures quoted at different points of time.

Infosys approves Rs 13,000 crore share buyback a day after Sikka's resignation

The proposal entails purchase of up to 11.3 crore equity shares at Rs 1,150 apiece, which is nearly 25 per cent higher than previous closing. When the bourses closed on Friday, the Infosys stock had plunged 9.57 per cent to end at Rs 923.15 on the BSE.

Sikka saga: CEOs must be able to manage ecosystem, say industry experts

ICICI, Union Bank cut savings rates

After SpiceJet, IndiGo also hikes excess baggage fee for domestic flyers

Centre pledges its full support for Startup Inc

The govt will alter its policies to give preference to startup products which will not only help them participate in critical projects but also help government get access to innovative solutions.

Trai gets tough on call drops; slaps penalty of upto Rs 10 lakh

"We have proposed financial disincentive in the range of Rs 1-5 lakh. It is a graded penalty system depending on the performance of a network," Trai chief RS Sharma said.

Sensex, Nifty crack as Sikka's resignation, global cues take heavy toll

The 30-share BSE Sensex lost 270.78 points to close at 31,524.68 and the 50-share NSE Nifty went down by 66.75 points to finish trading at 9,837.40. Infosys shares lost more than 10 per cent on both the indices during the day as the IT giant saw a loss in market capitalisation of about Rs 27,000 ...