NEW DELHI: Infosys will hold another round of outreach to shareholders over the next few weeks under the chairmanship on Nandan Nilekani and expects to have a complete report by January next year.

Nilekani, the architect of Aadhaar, had taken over the reins of the embattled Infosys in August this year following months of acrimony between the founders and the then management team of CEO Vishal Sikka and chairman R Seshasayee.

NEW DELHI: Amending rules on post office savings schemes like the National Savings Certificates (NSC) and Public Provident Fund (PPF), the government has notified that such accounts would be closed prior to maturity in case of holders changing their personal status to become non-resident Indians (NRIs).

The amended rules were notified in the official gazette earlier this month.

New Delhi: Bharti Telecom Ltd, the holding company of Bharti Airtel Ltd, will acquire up to 4.62% stake in India’s largest telco, the company informed the National Stock Exchange on Monday.

The weighted average market price for Airtel’s share trade in the last 60 days has been kept at Rs417.35 and Bharti Telecom has said that the acquisition price would not be higher by more than 25% of the price computed as per the weighted average market price of the Airtel stock.

The $150-billion-plus Indian IT industry witnessed the performance of the top tier multi-billion dollar companies—Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies for the second quarter of FY18. The writing on the wall is very clear: the industry will walk the path of a single digit growth with a strong focus on the operational parameters to ensure higher profitability.

Indian stock markets opened at record highs on Monday followed by the optimism over better-than-expected second-quarter earnings. BSE Sensex gained 102.88 points or 0.31% to open at 33,260.1 points while NSE Nifty advanced 30.8 points or 0.3% to start at 10,353.85 points. Among the Nifty companies Bharti Infratel, HDFC, Lupin, Tata Steel and UPL are scheduled to announce their Q2 results report card today. Within minutes of trading, the benchmark Sensex added 158.02 points to hit the all-time high of 33,315.24 and the broader Nifty jumped 47.85 points to mark the lifetime high of 10,370.9 points.

Even as Indian lenders face the central bank’s ire over the classification of loans or divergence that seems to be burning holes in their books, the dispute may be temporary.

RBI’s scrutiny of non-performing assets raises concerns over the way classification is being done by auditors at banks. Three private-sector lenders have together reported more than Rs 12,000 crore in asset classification divergences for FY17 so far.

BENGALURU: Nasscom Product Council (NPC), the IT lobby’s platform for software product companies to showcase products and connect with peers, will focus on artificial intelligence (AI) and machine learning (ML) in the upcoming conclave to be held in Bengaluru. It also launched a DeepTech Club to nurture startups with mentors and investors.

“We are going to talk extensively on artificial intelligence and machine learning. Increasingly, machine learning and artificial intelligence are cropping up as solutions for handling data. While, the two are often used interchangeably, and though there are some parallels, they’re not the same thing,” said Somdutta Singh, co-chair, NPC.

The Axis Bank Foundation (ABF) has tied up with Sahapedia, an online encyclopedia of Indian arts and culture, to support its ‘Heritage Walks’, a project to help people understand the heritage of the cities and towns across the country.

The ABF, through its Axis Cares programme, will support around 200 guided walking tours being organised by Sahapedia over a period of one year, nearly half of which will be for people with disabilities and underprivileged children.

State-owned Oil and Natural Gas Corp (ONGC) has become the first company in India to hold a meeting of its board of directors at high sea. Chairman Shashi Shanker convened the company’s 299th board meeting at a platform on Mumbai High field, in the Arabian Sea, on Saturday to approve the second-quarter earnings among other things.

“The idea was to familiarise the independent directors, most of whom are new to the oil and gas exploration and production business, with offshore operations,” an official said. ONGC produces over 80 per cent of its oil and gas from offshore fields with Mumbai High being the biggest.

Mukesh Ambani-led Reliance Industries and its partners, BP and Niko Resources, have so far paid only $82 million to the gas pool account — maintained to park the differential between the notified gas price given to others and the $4.2 per unit that the three contractors charge their customers.

The firms are yet to pay the penalty imposed on them for disallowing recovery of cost incurred for missing the target during six years from 2010. After a fresh penalty of Rs 264 million in August, the total now stands at $3.02 billion.

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