Bengaluru: Infosys Ltd has appointed new heads for its merger and acquisitions (M&A) division and its cloud, infrastructure and security (CIS) arm.

Deepak Padaki will now head M&A for Infosys, replacing Ritika Suri, who has been tasked by chief executive officer Vishal Sikka to head large deals programmes at the company.

HDFC pack including Housing Development Finance Corporation, HDFC Bank and Gruh Finance shares hit their fresh 52-week high of Rs 1,386.40, Rs 1,238.50 and Rs 306.40, respectively, on Monday despite benchmark indices ended the day in red. Gruh Finance is a subsidiary of HDFC.

In the National Stock Exchange, Hero MotoCorp, Indian Oil Corporation, Hindalco Industries, Godrej Industries, Finolex Cables, Lakshmi Vilas Bank, LIC Housing Finance and Kesoram Industries stood among the 72 stocks which hit their fresh 52-week high on Monday.

Bharti Airtel and Idea Cellular shares slumped after the telecom majors announced cut in their data tariffs, contributing to the stock markets fall with the BSE Telecom index plunging 3.23 per cent on Monday.

Idea Cellular shares closed 6.52 per cent down at Rs 103.90. The scrip opened at Rs 112 and touched its high and low of 112.70 and Rs 102.75, respectively.

Rating agency Moody's today said Yes Bank's baseline credit assessment (BCA) of "Ba1" reflects potential weaknesses in funding and liquidity profile.

The private sector lender has maintained an adequate loans to customer deposit ratio of 95% at end-March 2016. But higher reliance on corporate deposits relative to its peers creates risks in volatile markets.

MUMBAI: The sensex recovered by 147 points in early trade on Monday on sustained buying by foreign funds and retail investors after Reliance Industries reported better-than-expected earnings and exports rose 1.27 per cent in June.

Moreover, good progress in monsoon and mixed Asian markets influenced trading sentiments here.

New Delhi: At least 15 companies, including Wipro Ltd, Infosys Ltd and International Business Machines Corp. have shown an interest in handling the back end operations of India Post Payments Bank (IPPB).

All of these companies have responded to a request for proposal (RFP) released by the department of posts on 1 July on its website, a person with direct knowledge of the matter said.

Air India has approached the government asking it to guarantee non-convertible debentures (NCD) worth `10,500 crore that it wants to issue against long-terms debt on its books. Converting loans into NCDs would bring down the interest rate by about 2%, senior executives at the airline explained. The country’s national carrier also plans to use the proceeds from a sale and lease back of wide-bodied aircraft to retire Rs ,500 crore or about a fifth of its short-term debt.

Axis Bank shares gained as much as 1.76 per cent in the early trade on Monday and touched their highest level since August 11, 2015. The scrip gained after the Reserve Bank of India on Friday increased limit for foreign shareholding in the third-biggest private sector lender to up to 74 per cent from 62 per cent earlier.

At 10.39 am, shares of Axis Bank were trading 1.52 per cent up at Rs 573.35. The scrip opened at Rs 571.80 and has touched a high and low of Rs 574.70 and Rs 569, respectively, in trade so far.

Government-owned explorers ONGC and Oil India face an additional royalty burden of more than $1 billion after the Narendra Modi government decided that they would have to pay royalty to crude oil-producing states such as Assam, Gujarat, Andhra Pradesh, Rajasthan and Tamil Nadu at ‘pre-discount’ rates.

“It has been decided that ONGC and Oil India will pay royalty to all similarly placed crude oil-producing states at pre-discount prices effective February 1, 2014, pending the outcome of the special leave appeal filed by ONGC before the Supreme Court,” said a petroleum ministry order dated July 15.

NEW DELHI: State-owned BSE -0.86 % has achieved savings of approximately 30 paise per unit - approximately Rs 550 crore per month - on account of coal rationalisation and reduction in imports of fossil fuel, Parliament was informed today.

"NTPC has achieved saving of approximately 30 paise per unit (approximately Rs 550 crore/month) due to rationalisation of coal linkage and reduction of imports," Power and Coal Minister Piyush Goyal informed the Rajya Sabha.

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