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Sebi penalises 2 Videocon promoter cos for violating insider trading norms

Markets regulator Sebi on Monday penalised Videocon Realty and Infrastructures Ltd and Electroparts (India) Pvt Ltd for making wrong disclosures with respect to transactions in shares of Videocon Industries. The entities have violated Prohibition of Insider Trading (PIT) norms, according to two separate orders. Both the entities are promoters of Videocon Industries, as per shareholding data available with BSE for the quarter ended September 2020. The orders follow an investigation conducted by the regulator between April-September 2017. It was found that they had made wrong disclosures with respect to off market transfer of Videocon Industries shares. The transactions were shown as pledge instead of off market by the entities.

Jet Airways to have over 100 aircraft in 5 years; HQ will shift to Gurugram

Jet Airways will resume operations in the first quarter of 2022 and have over hundred aircraft in five years, the Kalrock-Jalan consortium said in a statement on Monday. The airline will be headquartered in Delhi and operate its first flight on the Delhi-Mumbai route, it added.

Kurien, Chokhani quit Zee Entertainment board a day before AGM

Two independent directors on the board of Zee Entertainment Enterprises — Ashok Kurien and Manish Chokhani — on Monday resigned from the board of the company ahead of the AGM on Tuesday. This comes after proxy advisory firm Institutional Investors Advisory Services (IiAS) raised serious corporate governance concerns in the company by asking shareholders not to vote for re-appointing the duo on the company’s board. IiAS had asked shareholders to vote against the proposal to reappoint Kurien, saying that he was the founder of the Zee group and while the company had reclassified him as a non-promoter, no requisite regulatory filings or shareholder approval was sought for the same, and hence it classifies him as a promoter.

Infosys completes buyback of 55.8 million shares worth Rs 9,200 crore

IT services major Infosys on Monday said it has bought back over 5.58 crore equity shares as part of its about Rs 9,200 crore buyback offer. The shares were bought back at a volume weighted average price of Rs 1,648.53 per equity share, according to a public notice. "The company bought back a total of 5,58,07,337 equity shares (1.31 per cent of the pre-buyback paidup equity share capital of the company) and the total amount utilised towards the buyback is Rs 9199,99,99,599.80 (excluding transaction costs)," it said. The highest price at which the equity shares were bought back was Rs 1,750, while the lowest price was Rs 1,538.10 per equity share.

TCS announces 'Rebegin project', its largest women recruitment drive

India’s largest information technology (IT) services player Tata Consultancy Services (TCS) has announced one of its largest recruitment drives for hiring women. The TCS 'Rebegin' project is aimed at experienced and aspiring women who wish to jump-start their professional journey and make 'The Big Move’. Rebegin is a TCS Careers initiative intended to benefit women professionals who have taken a career sabbatical due to family or other pressing commitments to help them reassimilate into the corporate culture. Overlooked yet capable candidates will now have the opportunity to apply for TCS open requirements.

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