Country's fourth largest software services firm HCL Technologies today said it will buyback shares at Rs 1,000 apiece, a 17 per cent premium over current trading price.

The company is proposing an offer for buyback of equity shares for cash at a price of Rs 1,000 per equity shares on a proportionate basis through tender offer process, HCL Technologies said in a regulatory filing.

State-owned BSNL on Wednesday started satellite phone service through INMARSAT which will be initially offered to government agencies and later opened for others citizen in phased manner.

The service will cover areas where no networks are present and be provided by INMARSAT which has 14 satellites.

Two IT employee groups have flayed the steep hike in compensation awarded to top executives of Infosys, terming the move by the software giant as painful amid job losses in the industry.

According to the 2017 annual report of Infosys that was published on the company's website, payouts of at least four Infosys executives have increased by over 50 per cent in the previous financial year.

A day after the Indian Army launched 'punitive fire assaults' on Pakistani positions across the Line of Control, Pakistan Air Force (PAF) fighter jets Mirage flew close to the Siachen glacier.

"Jet fighters of Pakistan Air Force (PAF) made flights near Siachen Glacier on Wednesday morning. All of its forward operating bases have been made fully operational," Pakistani media reported.

The Income Tax (IT) department is conducting raids at premises of several top bureaucrats across Uttar Pradesh and Delhi, in connection with its probe against them on charges of tax evasion.

Several I-T teams have covered at least 15 premises of the officers in Lucknow, Noida, Greater Noida, Meerut, Baghpat, Mainpuri and Delhi since early morning.

IDBI Bank hit its 52-week low of Rs 61.75, down 5.5% on BSE in intra-day trade, after domestic rating agencies ICRA and CRISIL downgraded various debt instruments of the state-run bank.

“ICRA has advised that the rating downgrade takes into account the bank’s substantially weak operating and financial performance during fourth quarter of financial year 2017 (Q4FY17) and in the financial year 2017 overall, which has resulted in a significant erosion of its capital (CET-I)," IDBI Bank said in a regulatory filing.

India's Tata Motors reported a 17 percent fall in fourth-quarter net profit on Tuesday as losses in its domestic business outweighed strong sales at luxury British arm Jaguar Land Rover (JLR).

Consolidated net profit for the three months to March 31 fell to Rs 4,336 crores ($668.72 million) from Rs 5,211 crores a year earlier. Total income from operations fell 2.6 per cent to Rs 7,8981 crores.

Mumbai: The Reserve Bank of India (RBI) outlined on Monday the broad contours of a plan to resolve the $150 billion bad debt problem plaguing the country’s banks.

The move comes about two weeks after the Indian government changed rules giving the central bank greater power to deal with bad loans.

Ford is replacing CEO Mark Fields as it struggles to keep its traditional auto-manufacturing business running smoothly while remaking itself as a nimble, high-tech provider of new mobility services.

The 114-year-old automaker said Fields is retiring at age 56 after 28 years at the company. Fields will be replaced by Jim Hackett, who joined Ford’s board in 2013. Hackett has led Ford’s mobility unit since March of last year.

Automobile major Tata Motors Ltd’s financial results for the fourth fiscal quarter of 2017 (Q4 FY17) due Tuesday are expected to be weighed down by a hit in the Q3 sales even as its luxury unit Jaguar Land Rover is likely to provide ample support. Ahead of quarterly result announcement the shares of Tata Motors were trading up. At 12:55 pm the shares of the company were trading at Rs 453.50 per piece, up 1.14% or Rs 5.10 on the BSE.

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