TCS has taken action against six employees after finding them guilty of accepting favours from certain staffing firms in the appointment of contractual workers, Tata Sons Chairman N Chandrasekaran said on Thursday.

The largest IT services exporter is investigating the role of three more of its employees, Chandrasekaran said while speaking at the TCS annual general meeting here.

India’s tech industry is being less than bold in embracing artificial intelligence. It’s hoping to create solutions for corporate clients by building on top of somebody else’s investment in foundational technologies, hardly a strategy for pathbreaking success.

ChatGPT’s high-voltage debut last year has galvanized China. Baidu Inc.’s Ernie, which claims to have outperformed Microsoft Corp.-backed OpenAI’s model on some measures, has pulled Ant Group Co.

Lenders to debt-ridden Reliance Capital have voted in favour of a resolution plan submitted by Hinduja Group firm IndusInd International Holdings Ltd (IIHL), which made the highest cash offer of Rs 9,661 crore and was the lone bidder in the second round of auction.

An overwhelming majority of 99.6 per cent votes supported the IIHL plan as voting concluded on Thursday, banking sources told Business Standard.

The US Coast Guard says it has likely recovered human remains from the wreckage of the Titan submersible and is bringing the evidence back to the United States. The submersible imploded last week, killing all five people on board. The vessel was on a voyage see the wreck of the Titanic.

Debris from the Titan submersible was returned to land Wednesday. The return of the debris to port in St. John's, Newfoundland and Labrador, is a key piece of the investigation into why the submersible imploded.

The market capitalisation of InterGlobe Aviation, which operates the country’s largest airline IndiGo, topped the Rs. 1-trillion mark on Wednesday. InterGlobe is the first domestic airline company to achieve this milestone. Shares of the company recorded an all-time high of Rs. 2,634 in intra-day trade. The stock has rallied 55 per cent in the past one year.

InterGlobe has been able to cement its number one position amid the grounding of Go First. Analysts have increased the company’s operating margin forecasts on back of improvement in yields and passenger load factor.

Prime Minister Narendra Modi on Wednesday chaired a meeting of the 42nd edition of PRAGATI, the ICT-based multi-modal platform for Pro-Active Governance and Timely Implementation, involving Centre and state governments.

In the meeting, twelve key projects were reviewed. Among the twelve projects, seven projects were from the Ministry of Health and Family Welfare, two projects were from the Ministry of Railways and one project each was from the Ministry of Road Transport and Highways, Ministry of Steel, Ministry of Petroleum and Natural Gas.

India’s benchmark indices posted strong gains for a second straight day to hit record highs on Wednesday, with the Sensex breaching the 64,000 mark for the first time and the Nifty50 index topping the 19,000 level in intraday trade. Both the indices, however, settled below these milestones.

The Sensex closed the session at 63,915 with a gain of 499 points, or 0.8 per cent, after hitting an intra-day high of 64,050. The Nifty, on the other hand, retreated after touching 19,011 to settle at 18,972, up 155 points, or 0.8 per cent.

The Ministry of Finance on Wednesday extended the deadline to apply the proposed changes in Tax Collection at Source (TCS) rates from October 1.

"No change in rate of TCS for all purposes under Liberalised Remittance Scheme (LRS) and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs 7 lakh per individual per annum" the press release said.

Tata Communications on Wednesday announced that it would acquire NYSE-listed Kaleyra, a global omnichannel integrated communication services provider with a set of proprietary platforms offering targeted personalisation through messaging, video, push notification, e-mails and voice-based services, and chatbots. The acquisition is an all cash deal.

Tata Communications has agreed to acquire Kaleyra at a price per share of $7.25, for a total consideration to Kaleyra shareholders of approximately $100 million, besides the assumption of all outstanding debt.

Shares of Tata Motors hit a fresh multi-year high of Rs 589.15, up 3 per cent on Wednesday's intra-day, after Tata Technologies received market regulator Securities and Exchange Board of India's (Sebi's) approval to raise funds through initial public offering (IPO).

The stock of the Tata group automobile company was trading at its highest level since September 2016. It hit a record high level of Rs 606 on February 3, 2015. Thus far in the calendar year 2023, it has rallied 52 per cent as compared to a 4.4 per cent rise in the S&P BSE Sensex.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.