Bengaluru: On 4 June, Natarajan Chandrasekaran, chief executive officer of India’s largest software exporter Tata Consultancy Services Ltd (TCS) flew to New York.

Unlike his earlier visits to the US—the largest market for TCS and other Indian IT firms—he was not scheduled to meet any clients. In the evening, Harrick M. Vin, TCS’s chief scientist and global head of innovation and transformation, and a few other executives joined Chandrasekaran at the upscale Mandarin Oriental hotel in Manhattan to showcase what some within the company bill as one of the most significant technological innovations to come out of the $15 billion company: An artificial intelligence (AI) technology platform.

NTPC is becoming analysts' favourite. Despite a 5% fall in net profit in the fourth quarter of 2014-15, experts are getting bullish on the counter. This is because with improving coal availability, higher pay load factor (PLF) — a measure of capacity utilisation—and reduced regulatory uncertainty, the worst is behind NTPC.

Getting past its coal woes has brought major relief for NTPC. The central government has re-allocated NTPC five coal blocks, which got cancelled because of the apex court verdict on coal block allocation. Now, NTPC has 10 coal blocks.

Ready to begin investing in stock markets with an exchange-traded basket of PSU stocks, Rs 6.5 lakh crore retirement fund manager EPFO has tapped state-run LIC to understand the contours of the equity investments.

The Employees' Provident Fund Organisation (EPFO) has also held discussions with the capital markets regulator Sebi in connection with the proposed investment of a part of its huge corpus in the revamped CPSE Exchange Traded Fund, which is likely to be launched in October, an EPFO official said.

Shares of Bank of Baroda declined over 2% to Rs 158 on the Bombay Stock Exchange (BSE) after the bank revised its rate of interest payable on term deposits.

The bank has decided to revise its rate of interest payable on term deposits below Rs 1 crore and Rs 1-10 crores respectively, effective from 8 June, 2015. The revised rates will be applicable to fresh deposits as well as renewal of existing deposits. The bank announced this decision on Friday 5 June, post market hours in a filing to the BSE.

Benchmark indices continue to trade lower weighed down by financials, auto and pharma shares. Investors sentiment are further dampened tracking weakness among global markets on the back of a firm US jobs data raising fear of Fed interest rate hike.

By 10:25, the Sensex was lower by 144 points at 26,624 and the Nifty dipped 50 points at 8,065. Among broader markets, BSE Midcap and Small indices are down between 0.4-0.6%.

HDFC Bank, second largest private sector lender in the country, will use biometrics technology to disburse automobile loans in 30 minutes. Earlier, the lender, whose loan book mostly consists of retail loans, had launched a loan product to disburse personal loans in 10 seconds.

The biometrics technology will be linked to applicants' Aadhaar card number, which will pull out the customer profile. The loan will then be approved with additional details. The product is available for HDFC Bank's depositors, as well as others.

Private sector lender YES Bank's shareholders have approved the re-appointment of Rana Kapoor as managing director and chief executive officer (CEO) for a period of three years. The shareholders also approved 11 other resolutions at the annual general meeting held on Saturday.

“The re-appointment was approved with a unanimous majority (99.97 per cent), excluding the vote of the shareholder, Madhu Kapur family,” said the bank.

World Consulting & Research Corporation (WCRC) has unveiled ‘Asia’s 100 Most Admired Brands’ list in Singapore that includes Honda, Hyundai, Samsung, Singapore Airlines, Emirates Airlines, Infosys, TCS, Alibaba.com.

Asia’s 100 Most Admired Brands is World Consulting & Research Corporation (WCRC) and ibrands360 research initiative involving the most significant brands from Asia.

Mumbai, June 5: Infosys today appointed R. Seshasayee as its non-executive chairman to replace K.V. Kamath, who has stepped down to take over as president of the new Brics bank.

Seshasayee, whose appointment is with immediate effect, has been an independent director on the company's board since January 2011 and is the chairperson of the audit committee.

Mumbai: The Bombay high court on Friday said two directors eligible for reappointment on the board of Yes Bank Ltd should not assume office till 18 June.

The appointments of Diwan Arun Nanda and M.R. Srinivasan as directors were among the resolutions put forward to the shareholders for the bank’s annual general meeting (AGM), which is to be held on Saturday. The order means both directors cannot assume office even if investors approve a fresh term.

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