GMR Infra today said its parent company GMR Holding has completed financing arrangements for its rights issue and has tied up Rs 1,250 crore to fund it.

"GMR Holdings Private Limited has secured funding of Rs 1,250 crore from KKR Capital Markets India Private Limited and its co-investors and definitive documents in this regard have already been executed, GMR Infrastructure said in a filing to the BSE.

Bengaluru: Wipro Ltd has chosen a new leader for its digital business as it looks to make it one of the three largest service lines for the company in three years.

India’s third largest software services exporter has named Rajan Kohli, currently head of banking and financial services business at the company, as the head of Wipro Digital, the year-old business unit, according to two people familiar with the development.

Bengaluru: Infosys Ltd will outline some of the quantifiable outcome metrics to reflect the progress of the strategy of “new and renew” it has embraced under its new chief executive (CEO) Vishal Sikka, when the company declares its quarterly earnings on 24 April.

The Bengaluru-based company intends to share new metrics, including the percentage of Infosys’ customers who are using its new offerings such as open source technology platform, called Infosys Intelligent Platform (IIP), and artificial intelligence-led technology platforms, according to a senior executive.

The benchmark BSE Sensex recovered over 108 points in early trade on Monday on buying at prevailing lower levels by investors amidst a firming trend at other Asian markets.

The 30- share index, which had lost 475.30 points in previous three sessions, rose by 108.64 points, or 0.38 per cent, to 28,369.72 with all sectoral indices, led by power, healthcare, oil & gas and capital goods, trading in positive zone with gains up to 0.68 per cent.

Ten months after the NDA alliance led by Narendra Modi took charge in May 2014, the government is yet to resolve the bottlenecks involving stalled projects. Latest figures compiled by the Ministry of Finance in March 2015 indicate that 299 mega projects involving an outlay of Rs 18.13 lakh crore still remain stalled with the Project Management Group (PMG).

MUMBAI: Chinese carmaker Geely-owned Swedish luxury car brand Volvo is set to enter the compact luxury car race in India and challenge the German rivals Mercedes Benz, Audi and BMW with two new offerings in the sub-Rs 30 lakh bracket.

A small luxury hatchback V40 diesel and V40 Cross Country with 1.6 litre petrol engine will be launched in the coming few months as the Scandinavian carmaker targets 65% growth in India in 2015 to touch the 2,000-units mark in annual sales.

Union Minister Piyush Goyal on Sunday said importing coal is "unjustified" at a time when the country is sitting on reserves totalling 300 billion tonne.

"When the country is sitting on a huge coal reserve, to import it is unjustified. The production of coal has risen from 432 million tonne to 460 million tonne and will cross 493 million tonne this year, which will be an increase of over 30 million tonne," Goyal told a press conference here.

Shares of Tata Motors were trading 1% higher at Rs 552 on the National Stock Exchange (NSE) after the company said its board will meet on Wednesday to consider and approve details of the proposed Rs 7,500 crore rights issue, including fixing the issue price.

A meeting of the board of directors of the company will be held on March 25 to consider and approve the detailed terms of the proposed rights issue aggregating up to Rs 7,500 crore including the issue price and rights entitlement ratio, and the Book closure for issuance of the Securities to the existing shareholders of the company, Tata Motors said in a filing to the BSE.

HDFC Bank Managing Director Aditya Puri has been featured on the list of 30 best chief executive officers (CEOs), published by America's financial magazine Barron's.

"Of the 30 CEOs in our original feature, seven have kept their jobs and only two remain on our list - Warren Buffett of Berkshire Hathaway and Michael O'Leary of Ryanair Holdings," Barron's said in its 11th edition of annual best CEOs, 2015.

India on Sunday moved a step closer to having a Singapore- or Dubai-like financial hub, with the Securities and Exchange Board of India (Sebi) approving a framework for international financial centres (IFCs).

After its board meeting in New Delhi, the market regulator issued broad guidelines for IFCs, aimed primarily at reversing the export of India’s financial markets. And, for the first time, the Sebi board allowed listing and trading of municipal bonds, also referred to as ‘muni’ bonds, to aid the government’s smart-city initiatives.

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