Mumbai: Shares of Indian Oil Corp. Ltd rose over 3% Friday after India’s largest oil firm on Thursday said its board of directors approved the buyback of 29.76 crore equity shares of the company for ₹4,435 crore. The share buyback price represents a 8.6% premium to Indian Oil’s Thursday closing price of ₹137.20 on BSE. On Friday, Indian Oil shares rose 3.10%, or ₹4.25, to ₹141.45 apiece on the BSE while the benchmark Sensex closed flat at 35,962.93 points.

The Supreme Court on Friday asked the department of telecommunications (DoT) to grant a no objection certificate (NoC) to Reliance Communications to trade its spectrum with Reliance Jio Infocomm by Monday on the condition that its subsidiary, Reliance Realty, does not redeem the preferential shares without DoT’s nod.

The Pune chapter of Travel Agents Association of India (TAAI) and Travel Federation Association of India (TAFI) held a protest march against the national carrier, Air India, and its plans to align with only one Global Distribution Partner (GDS).

Air India had decided to use Travelport as their exclusive GDS and is giving up the rest of systems.

India’s largest luxury car maker Mercedes-Benz has received the highest rank in the JD Power 2018 India Customer Service Index (Luxury) study; it scored 903 points. This study surveys luxury vehicle owners who visit authorised service centres for maintenance and repair work. The company took the highest rank in the study for the second year on the trot, after topping the study in 2014 and 2015 as well. Martin Schwenk, MD & CEO, Mercedes-Benz India, said, “We want to become the ‘Mercedes of Service’ and the findings of the latest JD Power study reiterate our determination towards that goal.

The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, a move that could affect Indian tourists visiting the Himalayan nation where Indian currency is widely used.Indian currency is extensively used by Nepalese people and businesses for their savings and transactions.

The Insurance Regulatory and Development Authority of India (Irdai) made it clear that the remuneration made to the insurance web aggregators will be in line with what is listed for insurance intermediaries.

Irdai was clarifying on the queries of the insurance companies on outsourcing activities undertaken by insurance web aggregators and remuneration payable to them.

Market regulator Sebi on Friday relaxed guidelines pertaining to setting up cyber security operations centre for small market intermediaries as they lack knowledge in cyber security.

The decision has been taken after discussions with market participants, the Securities and Exchange Board of India (Sebi) said in a circular.

Two-wheeler major TVS Motor Company has announced its expansion in Peru with the launch of TVS Apache and TVS NTORQ in the market, along with an additional showroom. The company had announced in September its expansion in Mexico in order to increase its footprint in the Latin American market.

To enhance risk management capabilities, the NSE has said trading members will be compulsorily placed in risk reduction mode when 90 per cent of the members’ capital is utilised towards margins.

The new framework will be effective from December 17, 2018, the National Stock Exchange (NSE) said in a circular.

New Delhi: Infosys on Friday said it has formed a joint venture (JV) with Hitachi, Panasonic Corporation and Pasona to strengthen its presence in the Japanese market.

As part of the agreement, Infosys will acquire 81 per cent of the shareholding in Hitachi Procurement Service Co, Hitachi's fully owned subsidiary, Infosys said in a statement.

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.