The benchmark BSE Sensex cracked the 28,000-mark by tumbling 500 points today on across-the-board selling by participants, tracking more heavy losses in Shanghai and on fears about Greece’s future in the Eurozone.

At 11:56 am, BSE Sensex trades 485.89 points down to 27,685.80. NSE Nifty sinks 143.00 points down at 8,367.80.

Infosys on Wednesday said it has won a multi-year outsourcing contract from Deutsche Bank.

“Deutsche Bank is committed to applying innovative technology to enhance its efficiency and service to clients. Working with Infosys will help the bank to achieve these goals,” Kim Hammonds, Global Chief Information Officer, Deutsche Bank said in a statement.

ICICI Bank, the country’s largest private sector lender, has charted out an ambitious plan to grow its mobile banking transactions by up to 500 per cent by the end of this financial year.

According to Reserve Bank of India (RBI) data, in FY15, transactions worth Rs 16,000 crore were recorded via the bank’s mobile banking platform. Rajiv Sabharwal, executive director, ICICI Bank, explained the lender is optimistic about the growth plans, considering that in the first three months, the volume of transactions recorded on the mobile banking platform was equal to what the bank had recorded in the last financial year.

Dependence on coal imports will reduce to up to eight per cent only if Coal India (CIL) meets the production of 1,000 million tonnes (mt) by 2020 and if auctioned coal mines are able to achieve their peak capacity in a timely manner, says an ICRA survey.

“Measures are taken by CIL to double output to 1,000 mt by 2020. If CIL is able to sustain seven per cent annual growth in production during FY16 till FY20 and both the schedule II and schedule III coal mines are able to achieve their peak-rated capacity in a timely manner.

Maruti Suzuki is not only the country’s largest passenger vehicle company. If you go by volumes of pre-owned cars sold, it occupies the third slot in the passenger vehicle industry. Maruti’s pre-owned or used car business has grown to a record 358,000 units (in 2014-15).

The sheer volume of units sold, makes True Value (Maruti’s pre-owned car business) the third-largest domestic passenger vehicle seller (irrespective of new or old) after Maruti (at 1.17 million) and Hyundai Motor (at 420,000).

Uncertainty over Greece, as well as the rest of the euro zone, has prompted State Bank of India (SBI), the country's largest lender, to delay plans for a $1.5-billion bond offering.

Confirming the move, a senior SBI official said the bank was waiting for stability to return to the market. "At present, there is uncertainty over pricing issues," he said.

Even as taxation of e-commerce continues to be a vexed issue, several states have told the Centre that firms like Flipkart, Amazon and Snapdeal need to be treated like conventional retailers and be held liable to pay tax on the sales taking place through their platforms, without disadvantaging states where the end-consumer is located.

Arguing that conventional retailers can’t be deprived of a level-playing field, some states like Kerala have said that either e-tailers must set up warehouses in their states for sales to local consumers and pay VAT or pay a higher tax on sales to their consumers from warehouses in other states.

Continuing its winning run for the third straight session, the benchmark BSE Sensex gained over 122 points in early trade today on sustained across-the-board buying by participants amid a rebound in Asian markets.

At 10:58 am, Sensex was up 73.41 points at 28,282.17 . Similarly, Nifty was up 24.85 points at 8,547.00 during the same time.

BENGALURU: Wipro's billionaire chairman Azim Premji, the first Indian to sign the Giving Pledge, has set aside more than half of his wealth for charity by allocating an additional 18% stake in the company to fund philanthropy.

Premji, who will turn 70 this month, controls a 73.39% stake in India's third-largest software company, which is worth about Rs 99,500 crore ($15.7 billion). In Wipro's annual report for the year ended March 2015, Premji said he has now allocated the equivalent of 39% of the company's shares to a trust focussed on philanthropic initiatives, mainly primary education. The additional 18% stake forms the latest tranche of shares Premji has allocated for charity.

MUMBAI: Tata Consultancy Services' iON cloud platform, which failed to live up to its initial expectations of revolutionising the small-and-medium business space by offering them computing capabilities at a low cost, has taken on a new life almost five years after its launch. It's now the preeminent platform for conducting examinations in the country.

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