While central government employees wait for the announcement of DA hike as per the seventh pay commission recommendations for the second-half of the fiscal year, the state government employees of Himachal Pradesh will get increased DA of 4% from October 2019.

Azim Premji and other promoter group entities sold about 22.46 crore shares worth over Rs 7,300 crore during the Wipro buyback offer that closed last month.

In a regulatory filing on Wednesday, Wipro said it had bought back 32.3 crore equity shares under the buyback scheme at Rs 325 apiece, and the total amount utilised was about Rs 10,499.99 crore.

The Oil and Natural Gas Corporation (ONGC) on Wednesday announced it will invest more than Rs 13,000 crore in exploring oil and gas by drilling over 220 wells across Assam in the next five years.

The company said in a statement that it has signed an MoU with the Assam government for enhancing its exploration and production activities in the state.

Tata Motors on Wednesday reported a 32 per cent decline in global sales, including that of Jaguar Land Rover, to 72,464 units in August.

It had sold 1,07,030 units in August last year.

Mumbai: The rupee opened on a cautious note and fell 13 paise to 71.84 against the US dollar in early trade on Wednesday amid rising crude oil prices and unabated foreign fund outflows.

At the Interbank Foreign Exchange, the rupee opened at 71.82 then fell to 71.84 against the US dollar, showing a decline of 13 paise over its previous closing. The Indian rupee on Monday had closed at 71.71 against the US dollar.

Mumbai: Indian stock markets rose in early trade on Wednesday tracking gains in Asian equities. At 11.25 am, benchmark Sensex gained 0.4% at 37288.64 points and Nifty was up 0.4% at 11045.20 points.

The S&P BSE Mid-Cap index was up 0.71%. The S&P BSE Small-Cap index was up 1.04%. Both these indices outperformed the Sensex.

JioSaavn has received capital infusion of Rs 140.35 crore from parent firm Reliance Industries, according to documents sourced from business signals platform paper.vc.

In 2018, Reliance Industries had announced the merger of its digital music service JioMusic with audio over-the-top (OTT) platform Saavn. The valuation of the combined entity is pegged at over $1 billion, the company had said.

The Supreme Court will hear on Wednesday a batch of appeals by Amazon Seller Services against the Delhi High Court’s July order that asked the e-commerce company to stop selling products of direct selling companies like Amway, Oriflame, and Modicare without prior permission and authorisation.

A bench led by RF Nariman is likely to hear the appeals by Amazon on Wednesday.

Just 19% of companies in India are bullish on hiring for the next three months even as 52% expect no change in their staff strength, according to the ManpowerGroup Employment Outlook survey released on Tuesday.

The survey that covered 5,131 employers across India showed that 28% are not sure about adding to their payrolls.

Rana Kapoor, co-founder of YES Bank, is said to be in talks with One97 Communications, owner of Paytm, to sell his stake in the private sector lender. Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019. Around 7.34 per cent of the Kapoor family stake has been pledged with Reliance Nippon Asset Management Company (RNAMC).

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