Sensex, Nifty bounce back; financials lead

By Krishna V Kurup

The Sensex and Nifty rose more than 1 percent on Wednesday, recouping most of the losses in the previous session, led by gains in financials such as Housing Development Finance Corp, while metal stocks climbed on higher prices for the commodity.

Sentiment was also supported by a recovery in broader Asia as concerns stemming from North Korea's firing of

Infosys` Murthy exposes poor governance of previous Board

In a no-holds-barred attack, software major Infosys founder N.R. Narayana Murthy on Tuesday said the previous Board practised poor corporate governance.

"My concern as a shareholder is the poor governance practised by the previous Board," said Murthy in a statement to institutional investors in a conference call from here.

Taking strong objection to the hefty sever

Infosys ex-Chairman Seshasayee lied to shareholders, says Murthy

In a strong rebuttal to the personal attacks on him by the previous Board of software major Infosys, Founder N.R. Narayana Murthy on Tuesday alleged that its former Chairman R. Seshasayee had lied to the company's shareholders at its 33rd Annual General Meeting (AGM) here on July 24.

"In the AGM, Seshasayee lies about the reason for payments made to the ex-CFO (Chief Financia

BSNL launches GST solutions with Masters India

State-run BSNL has launched GST Suvidha Provider (GSP) services in collaboration with Masters India in order to assist customers on various procedures involved, BSNL Chairman and Managing Director (CMD) Anupam Shrivastava said here on Tuesday.

"We believe that when this GST service will be offered to customers, they will choose to remain with us. The stickiness of the customers r

Infosys founder Murthy defends role in boardroom feud

MUMBAI  - Infosys Ltd founder Narayana Murthy on Tuesday defended his role in a months-long war of words with the company's board that led to changes at the top, saying his actions were in the interest of shareholders.

Speaking to investors on a conference call, Murthy said he hoped the company's management would rally behind Nandan Nilekani, a co-founder

MRF to set up plant in Gujarat at an outlay of Rs 2,000 cr

Tyre major MRF Ltd is targeting a turnover of Rs 22,000 crore by 2020 and is also setting up a new plant in Gujarat at an outlay of around Rs 2,000 crore, said top company officials here on Tuesday.

According to them, the Gujarat plant is expected to go on stream by 2020 with construction activities planned to begin soon.

The company also launched its premium range of tyres

Uber launches free insurance for its drivers

Online cab aggregator Uber on Tuesday launched a free insurance programme for its over 450,000 driver partners in India.

The San Francisco-based company tied up with ICICI Lombard to provide its driver partners - between age group of 18 and 65 years - free insurance coverage for accidental death and disablement, hospitalisation, and in case of an accident while using the Uber Ap, en r

Ramco inks pact with Saudi Rotorcraft Support Company

Ramco Systems, the global aviation software provider on Cloud and Mobile, announced that it has signed a prestigious 5-year agreement with Saudi Rotorcraft Support Company (SRSC). The agreement was signed to offer software support for Maintenance, Repair and Overhaul (MRO) operations for civilian and military helicopters in Saudi Arabia. In addition to Aviation maintenance modules, SRSC will al

Philips India to increase PPP healthcare centres

Philips India on Tuesday said it is set to increase to 36 the number of public-private partnership (PPP) healthcare centres across the states of Haryana and Jharkhand by early 2019.

According to the company, at present there were 10 operational PPP centres across Haryana and seven in Jharkhand.

There were two PPP projects in diagnostic imaging in Haryana and Jharkhand that w

NTPC`s 5% stake sale oversubscribed by institutional investors

The government's 5 per cent sale of stake in power generator NTPC witnessed a successful start on Tuesday with shares reserved for institutional investors being oversubscribed 1.17 times, according to stock exchange data.

Through its offer for sale (OFS), the company is off-loading 41.23 crore shares, or 5 per cent of stake.

Institutional investors placed bids for 38.66

Sensex, Nifty end down one percent, snap four-day winning streak

The Sensex and Nifty declined more than 1 percent on Tuesday, snapping four consecutive sessions of gains, as escalating worries around North Korea added to the volatility ahead of local derivatives contracts expiry this week.

Both indexes had marked their biggest intraday percentage fall in nearly nine months during the session.

The Nifty closed 1.2 percent lower at 9,796.0

Himalayan Highs season 3: TVS announces list of finalist

TVS Motor Company on Tuesday announced the names of the 12 riders shortlisted to participate and ride in Himalayan Highs Season 3. “The selected riders will embark on a journey to the Himalayas, astride a 110cc, scooter, claiming a hat trick! The Season 2 of Himalayan Highs witnessed 11 women riders securing a place in the India Book of Records for being the first women-only group to scal

BHEL commissions 30 MW hydel power project in Mizoram

Bharat Heavy Electricals Ltd (BHEL) has commissioned the first unit of 2x30 MW Tuirial Hydro Electric Project (HEP) in Mizoram. This is the first large-rating hydro power project in the state of Mizoram, the company said in a filing to the Bombay Stock Exchange. The Greenfield project is being set up by the North Eastern Electric Power Corporation Ltd (NEEPCO) on the river Tuirial.

Th

OMDC gets government nod for mining of Brahamani Coal Block

State-run Orissa Minerals Development Company (OMDC) on Tuesday said the company has received government approval for commercial mining and signing of the Coal Block Development and Production Agreement (CBDPA). “As on August 29, in respect of allotment of Brahamani Coal Block located in the State of Odisha to Orissa Minerals Development Co.

Ltd. for commercial mining and signin

LG Electronics to showcase V30 this week

LG Electronics will showcase its new flagship device V30 at the Internationale Funkausstellung (IFA) in Berlin later this week.

The South Korean tech giant will on Thursday reveal the much awaited handset, a day before the official launch of the six-day IFA, Yonhap news agency reported on Tuesday.

In an apparent bid to catch up with Samsung's Galaxy Note 8 that was launc

Sadbhav Infrastructure `s arm completes refinancing of existing debt facilities

Sadbhav Infrastructure Project said that its subsidiary Shreenathji Udaipur Tollway (SUTPL) has completed refinancing of its existing debt facilities with new debt taken from other lenders with revised terms and conditions.

The new debt has been taken with reduction in the interest rates to 9.20 per cent p.a. from the current level of 11.30 per cent p.a. and extension of the repayment

Kamat Hotels gets approval from Canara Bank for OTS

Kamat Hotels said that it has received Canara Bank approval for one-time settlement. "The company has received an approval from Canara Bank approving the one time settlement proposal (OTS),” it said in a BSE filing.

The company has opted OTS because it has been facing cash flow mismatch due to which the debt has become a non-performing asset. The repayment under OTS will be

HSBC India investment banking head Sanghai quits to start new venture

MUMBAI  - HSBC Holdings Plc's  India investment banking head Sunil Sanghai has left the bank to start an investment banking joint venture with Dhruva Advisors LLP, the tax and regulatory consulting firm said in a statement late on Monday.

The new joint venture will combine Dhruva's tax structuring expertise and Sanghai's experience in executing c

Cadila Healthcare`s Ahmedabad plant gets EIR from USFDA

Pharma major, Cadila Healthcare said that it has received EIR Report for Manufacturing Facility at the Pharma SEZ at Ahmedabad.

“The company has received an Establishment Inspection Report (EIR) from the USFDA, signifying the successful closure of the audit,” Cadila Healthcare said in a filing to the Bombay Stock Exchange.

The manufacturing facility had completed

Bosch`s workers to go for 1-day strike on August 30

Bosch Ltd said that its Workmen’s Union of Bengaluru and Bidadi facilities have declared a one day strike on August 30, 2017 sighting delay in the closure of the long-term wage settlement. “The Management is in discussion with the Union regarding long term wage settlement with the intervention of the Additional Labour Commissioner, Karnataka,” the company informed in a BSE fil

Key Indian equity indices trade in red during afternoon session

Key Indian equity indices were trading in the red during the afternoon session.

The 30-scrip Sensitive Index (Sensex), was trading at 298.19 points or 0.94 per cent lower during the afternoon trade.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 93.50 points or 0.94 per cent lower at 9,819.30 points.

"Snapping four sessions of g

BSE board approves re-appointment of Ashishkumar Chauhan as MD & CEO

Stock exchange major BSE on Monday said its board has approved a five-year extension for its Managing Director and CEO, Ashishkumar Chauhan, subject to shareholders approval.

According to the BSE, the company's board had approved Chauhan's re-appointment as at its meeting on August 3, 2017. The extended term starts from November 2, 2017 and will run to November 1, 2022. <

VMware to help HP Inc simplify device lifecycle management

Cloud infrastructure and business mobility leader VMware on Monday announced a partnership with HP Inc that will add VMware Workspace ONE to HP's Device as a Service (DaaS) technology platform.

'Workspace ONE' is an integrated digital workspace platform, powered by the VMware 'AirWatch Unified Endpoint Management' (UEM) technology, that simply and securely delivers

Infosys promoters to participate in share buyback

Promoters of global software major Infosys would participate in the proposed buyback of its equity shares, said the company on Monday.

"Some of the members of the promoter and promoter group of the company have communicated their intention to participate in the proposed buyback," said the IT major in a regulatory filing on the BSE.

The company's Board on August

L&T`s construction arm bags orders worth Rs 1,975 cr

India-based multinational L&T on Monday said its construction arm has bagged orders worth Rs 1,975 crore across various business segments.

The company said its power transmission and distribution business has bagged orders worth Rs 1,331 crore in the domestic and international markets.

According to L&T, orders have been secured across the Middle East for turnkey cons