The Securities and Exchange Board of India (Sebi) has put in place a framework for domestic companies to raise capital by issue of so-called depository receipts (DRs). The move, which follows a budget announcement in this regard, will allow listed Indian companies to issue either equity, or debt, to investors on the overseas stock exchanges such as NYSE, Nasdaq and Hong Kong Stock Exchange.

Shares of Tata Consultancy Services (TCS) hit an over seven-month low of Rs 1,929, down 4 per cent on the BSE in early morning trade on Friday after the IT major on Thursday reported weaker-than-expected numbers for the quarter ended September 30 (Q2FY20). The stock was trading at its lowest level since February 25, 2019.

The government is ready to bring in changes in the laws governing multi-state cooperatives, which also run banks, Finance Minister Nirmala Sitharaman said on Thursday. She also said a three-member committee comprising two secretaries of the finance ministry and a deputy governor of the Reserve Bank of India (RBI) would be set up to look into the issues of multi-state co-operative banks.

Infosys may further upgrade its revenue guidance for the financial year 2019-20 (FY20) when it releases its September quarter (July-September) results on Friday. The Bengaluru-headquartered IT company, as per analysts, remains on a firm footing given the recent deal momentum, strong positioning in clients and favourable arithmetic (revised guidance implies a 1-2 per cent compounded quarterly growth rate through Q2-Q4FY20) – hence creating the room for more upgrades.

CHANDIGARH : National carrier Air India will launch thrice-weekly flights on the Mumbai-Amritsar-Stansted (United Kingdom) route from October 31 to mark the 550th birth anniversary of Sikhism founder Guru Nanak Dev, a senior official said on Thursday.

Yes Bank shares on Wednesday fell about 10 per cent after the lender denied the reports about strategic investment by Microsoft Corporation and two other tech firms for likely stake sale. The denial came a couple of days after a report said that Microsoft is among the three firms that are in talks with the private sector lender for stake sale. The stock of the private lender tumbled 9.98 per cent intraday to Rs 41.05 as compared the previous closing price of 45.60.

Microsoft has become the latest tech giant to foray into phone calls. The company brought the support for voice calls as part of the new features in Windows 10 Insider Preview Build 18999 (20H1) to Windows Insiders in the Fast ring released on Tuesday.

This phone call support has been brought in by Microsoft’s Your Phone app.

India’s largest IT behemoth Tata Consultancy Services (TCS) on Thursday declared a second interim dividend of Rs 5 per share in Q2 of FY20. It also announced a special dividend of Rs 40 per equity share of Re 1 each of the company. Notably, both dividends will be paid on October 24, 2019 to the equity shareholders, TCS said in an exchange filing.

Paytm Payments Bank on Thursday announced reducing their savings account interest rate by 50 basis points to 3.5 per cent from earlier 4 per cent. The new rate will be effective from November 9, 2019. The Reserve Bank of India (RBI) had recently slashed the repo rate by 0.25 basis points to 5.15 per cent from 5.40 per cent earlier that is likely to make home loans and other retail loans cheaper.

Reliance Industries has put off bidding for the new gas it plans to produce from eastern offshore KG-D6 block to next month following a request from potential bidders, sources said.

Reliance and its partner BP Plc of the UK, last month had put out Notice Inviting Offer (NIO) seeking bids from potential users for the 5 million standard cubic meters per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from the second quarter of 2020.

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