Shares of Indian automaker Tata Motors Ltd’s fell on Friday after its British unit Jaguar Land Rover said it is going to cut 500 jobs temporarily at its plant in central England.

Shares fell as much as 3.9 per cent to 170.35 rupees, their lowest level since Oct 29, in early trading session. More than 3.9 million shares changed hands by 0411 GMT, compared to the 30-day average of 15.8 million shares.

Mumbai: The benchmark BSE Sensex gained over 150 points and the NSE Nifty began the December derivatives series by hitting the 10,900 mark in early trade on Friday on positive cues from other Asian bourses ahead of the two-day G20 Summit.

Rupee's rally to a three-month high also supported the upmove in the domestic stock market. The domestic unit gained 21 paise to 69.64 against the US dollar.

In a major victory for Tata Consultancy Services (TCS), a California court passed a verdict in its favour on a petition which alleged the IT services giant discriminated against non-South Asian workers.

A class action suit was brought against TCS in 2015 in the US District Court, Northern District of California, Oakland division, by a US law firm on behalf of three former employees, alleging a pattern and practice of discrimination against the people of non-South Asian origin in the US.

ICICI Prudential Asset Management and its CEO Nimesh Shah have settled a probe initiated by the Securities and Exchange Board of India into the alleged violation of mutual fund norms over their investments in the initial public offering of ICICI Securities.

While the fund house has paid Rs 89.96 lakh, managing director & CEO Nimesh Shah has remitted Rs 6.8 lakh towards settlement fees, the market regulator said on Thursday.

Chak de phatte! That was Vineet Nayyar’s triumphant response to reporters’ queries after Tech Mahindra snapped up Satyam Computers. It was the summer of 2009. Nayyar may have been a bureaucrat for much of his life but in that moment he was an entrepreneur. It had taken him just 10 slides to convince the Mahindra and Mahindra (M&M) board to throw its hat in the ring; in the very last one he went for the kill. It said: “We simply cannot afford to not buy Satyam.”

Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset reconstruction companies (ARCs) for the company. The lender said it already has a bid in hand from an investor interested in buying the asset and the auction will be through the Swiss challenge method, based on the existing bid.

Industry captains Anand Mahindra and Uday Kotak on Thursday came out against “proliferation” of regulations in business, stating that in the current environment they are forced to follow the rules in letter and not in spirit. The comments come days after industry veteran Rahul Bajaj expressed his displeasure on laws made by Sebi and corporate affairs ministry in the wake of fleeing defaulters.

Vedanta Resources wants US oilfield services companies to set up consortia to help develop the 41 blocks in India acquired this year by its Cairn Oil & Gas unit, the company's chairman said on Thursday.

Vedanta Chairman Anil Agarwal and Cairn Chief Executive Sudhir Mathur met with executives from 70 services companies this week in Houston to encourage the firms to organise consortia to compete for contracts, Agarwal said in a briefing.

Extending its gains, the rupee on Friday opened 18 paise higher at 69.67 against the US dollar on the back of free fall in crude oil prices and heavy buying by foreign institutional investors (FIIs).

The domestic unit on Thursday breached the 70-mark for the first time since August 27 to end at a three-month high of 69.85 per US dollar.

Blaming Reliance Jio for financial woes of the telecom sector, employee unions of BSNL on Wednesday alleged that the government was favouring the latest entrant over other firms and said they will go on an indefinite strike from December 3.

The employee unions claimed that the government has not allotted spectrum for 4G services to BSNL in order to prevent it from competing against Reliance Jio.

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