Promoter to sell 5.31% stake in Swaraj Auto via OFS

Swaraj Automotives has proposed to sell an aggregate of 127,200 equity shares having face value of Rs 10 each of b4S Solutions Private Limited exclusively through the stock exchange mechanism of the BSE on August 22, 2017.

“b4S Solutions Private Limited, is a sole promoter of Swaraj Automotives, being the selling promoter member proposes to sell 127,200 Equity shares of face val

Power Grid signs loan agreement with ADB

Power Grid Corporation of India said that it has entered into loan agreement with Asian Development Bank (ADB) on August 17, 2017 for an amount of USD 500 million.

The proceeds of the Loan are proposed to be utilized for funding of Green Energy Corridor (Part-D); ±800kV HVDC Bipole link between WR (Raigarh, Chhattisgarh) and SR (Pugalur, Tamil Nadu) and ±320kV VSC based

Could not work amid unrelenting malicious personal attacks: Infosys Vishal Sikka

Announcing his resignation as the Managing Director and Chief Executive Officer (CEO) of software giant Infosys Ltd, Vishal Sikka wrote in a mail to employees that he "could not" do his job as a CEO with "unrelenting, baseless, malicious and increasingly personal attacks".

"...It is clear that despite our successes over the last three years, and the powerful s

Canon India celebrates World Photography Day with workshops

In a bid to promote imaging culture, Canon India on Friday organised a series of activities and workshops across the country in celebration of 'World Photography Day' that falls on August 19.

The company organised a 'photo walk' at Infosys office in Bengaluru which was followed by photography quiz and contest for the employees.

"This 'World Photograp

Sensex ends lower but post weekly gain

Indian shares fell on Friday led by Infosys Ltd that plunged after the resignation of Chief Executive Vishal Sikka heightened uncertainty about the IT services provider's future.

However, the BSE and NSE indexes still posted their biggest weekly gain in five.

The benchmark BSE Sensex closed down 0.85 percent at 31,524.68, but gained nearly 1 percent in the week.

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Rajesh Exports likely to complete Rs 1,914cr export order by September - October

Rajesh Exports (REL), the world's largest gold refiner, said that it hopes to complete its export order worth Rs 1,914 crore by September-October this year. "In May this year, we secured an export order of Rs 1,140 crore from a UAE firm and it is to be completed in September 2017. Another export order of Rs 774 crore for gold products bagged in June is expected to be completed by Octob

Khaitan Electricals posts Q1 net loss of Rs 19.21 cr

The company reported standalone net loss during the quarter stood at Rs 19.21 crore as compared to net loss of Rs 27.01 crore in the previous year quarter. Net revenue of the company declined moderately by 7.57 per cent at Rs 18.55 crore in April-June quarter of this fiscal as against Rs 20.07 crore in the corresponding period last year. During April-June quarter, operating expenses dropped by

BSE, NSE to suspend trading in UBHL, others from September 8

Leading bourses BSE and NSE will suspend trading in the shares of United Breweries (Holdings) Ltd from September 8 while the entire promoter shareholding has been frozen with immediate effect, reported PTI. Fugitive liquor baron Vijay Mallya is a promoter of UBHL. Trading in UBHL would be suspended from September 8 "on account of non-compliance with financial results and non- payment of fi

Infosys CEO Vishal Sikka resigns, blames "drumbeat of distractions"

By Samantha Kareen Nair and Sankalp Phartiyal

BENGALURU/MUMBAI - Vishal Sikka, the chief executive brought in to turn around India's Infosys three years ago, resigned suddenly on Friday, blaming a "continuous drumbeat of distractions" and a long-running row with founders over the tech firm's strategy.

The departure of Sikka, who was the fir

Difficult to deal with continuous allegations: Vishal Sikka

Talking candidly after quitting IT bellwether Infosys as its CEO and MD, Vishal Sikka on Friday said it was difficult to deal with unending allegations and said he has not decided his future plans yet.

"It was difficult to deal with continuous allegations and noise. At some time you realise it is taking a heavy toll on the company and also personally. It is an untenable situation

Microsoft announces new APIs in Visual Studio 2017

Microsoft has announced the availability of new Application programming interfaces (APIs) 'ASP.NET Core 2.0' and '.NET Core 2.0' in its Visual Studio 2017 for developers.

ASP.NET is an open source server-side web application framework designed for building dynamic websites, web applications and web services.

.NET Core is a free, cross-platform and open source

Samsung A5, A7 prices cut ahead of festive season

South Korean tech giant Samsung has cut prices for its bestselling ‘Galaxy A5 and A7 smartphones (both 2017 variants) ahead of the festive season in India.

'Galaxy' A5 (Rs 26,900) and A7 (Rs 30,900) would now cost Rs 22,900 and Rs 25,900, respectively.

The phones are now available at revised prices, starting August 14, the company said in a statement on Friday.

IndiGo denies massive cancellation of flight operations

Budget passenger carrier IndiGo on Friday said it has not cancelled any daily flights or grounded any of its new Airbus A320neo aircraft.

The airline's asserted that its pre-scheduled operations are normal and flights are operating "on-time". 

Indigo was reacting to a media report that claimed that the passenger carrier has cancelled over 80 daily flights

Airtel to hold shareholders, creditors meet in Sep on Telenor

Bharti Airtel said a meeting of its shareholders and creditors has been convened next month to consider the proposed amalgamation of Telenor Communications with it, reported PTI. The company in a filing to BSE said that pursuant to an order of the Special Bench of the National Company Law Tribunal, a meeting of equity shareholders and unsecured creditors of Bharti Airtel Limited (the Company) h

Moody`s downgrades ICICI`s future bond sale via Bahrain branch

Ratings agency Moody's today downgraded ratings on ICICI Bank's future bond issuance through its Bahrain branch under the medium term notes (MTN) programme, but retained the ratings on its existing bonds, reported PTI. "We have downgraded the provisional ratings on forex currency senior unsecured MTN programme of the bank's Bahrain branch to Ba2 from Baa3, because the forex bon

Infosys partners ATP to launch new 'PlayerZone' app

Infosys, a global leader in consulting, technology and next-generation services has said that it has partnered ATP, the governing body of men's professional tennis for launching a new 'PlayerZone' app and website. The revamped PlayerZone, an extranet portal for ATP players, their support teams, coaches, and others in the ecosystem, allows users to engage with each other and access i

PE activity jumps almost 50% in July: Report

Private equity (PE) activity in the country rose by almost 50 per cent to $1.22 billion worth of transactions, a report said on Thursday.

According to Grant Thornton's PE dealtracker report for July 2017, the industry witnessed $1.22 billion worth of transactions spread across 59 deals.

In July 2016, the country's PE activity recorded 88 deals worth $826 million.

BSNL launches mobile wallet developed by MobiKwik

State-run Bharat Sanchar Nigam Limited (BSNL) on Thursday launched a mobile wallet that would enable its existing 100 million customers to make bill payments and transact on e-commerce platforms.

The wallet has been developed and issued by MobiKwik on behalf of BSNL.

"With this co-branded wallet, the ease of payment will be extended to all the customers while equally st

Maruti Suzuki launches sports variant of Ciaz

Automobile major Maruti Suzuki India on Thursday launched a sports variant of its sedan Ciaz.

The new variant -- Ciaz S -- with petrol variant is priced at Rs 9.39 lakh and the diesel variant at Rs 11.5 lakh (ex-showroom Delhi).

"Introduction of Ciaz S will further strengthen the position of Ciaz in the market by catering to the requirements of a younger yet premium cus

Hero MotoCorp presents 150 scooters to policewomen in Hyderabad

Leading two-wheeler manufacturer Hero MotoCorp Ltd on Thursday presented more than 150 new Hero scooters to women police officers of Greater Hyderabad.

Equipped with sirens, traffic lights and public address systems, the Hero scooters will empower women police officers and allow them to conveniently perform their patrolling duties.

The Hero scooters were presented to the wom

Indian equities tumble as Sikka quits as Infosys CEO, MD

Key Indian equity indices tumbled during the mid-afternoon trade session on Friday as it became known that Vishal Sikka had quit as the Chief Executive Officer (CEO) and Managing Director (MD) of IT major Infosys.

Heavy selling in IT, healthcare and banking stocks, coupled with negative global cues, hampered investors' risk-taking appetite.

At 1 p.m., the Nifty50 of the

Rajasthan, HPCL ink pact for Rs 43,000 cr refinery

The Rajasthan government on Thursday signed an agreement with the Hindustan Petroleum Corporation Ltd (HPCL) to form a joint venture company to set up a Rs 43,129 crore petroleum refinery-cum-petrochemical complex in the state's Barmer district.

The Union government had given approval to the project on Wednesday.

As per the agreement, HPCL will hold 74 per cent and the s

Sikka quits as Infosys CEO, cites negative remarks against him

 In a dramatic development, global software major Infosys Chief Executive Officer (CEO) and Managing Director (MD) Vishal Sikka resigned on Friday citing continuous disruptions and personal and negative remarks against him.

His resignation was accepted, and he was appointed Executive Vice-Chairman till the new CEO and MD takes over by March 31, 2018.

In a related develo

Srei Equipment Finance plans to dilute 25 percent of its capital

Srei Equipment Finance Ltd, a wholly-owned subsidiary of Srei Infrastructure Finance Ltd, on Thursday announced it would dilute 25 percent of its equity and go for a fresh issue of shares, expecting to mop up around Rs 1,800-2,200 crore from the dilution.

"The company plans an initial public offering (IPO) by diluting 25 percent of its equity and go for a fresh issue of shares. W