The Rs 13,000-crore share buyback programme of Infosys commenced on Thursday. Eligible shareholders can tender their shares till December 14, the last day of the buyback.

The buyback price offered by the company is Rs 1,150. Therefore, investors can pocket 18 per cent more upside (at current market rate) by tendering their shares. The entitlement ratio for retail shareholders works out to 28 per cent. In other words, 28 shares of those holding 100 shares will get accepted in the buyback.

State-owned Punjab National Bank (PNB) has raised its interest rate on bulk deposits over Rs 1 crore by 50 basis points, to five per cent, a day after the country’s largest lender, State Bank of India, decided to raise its rate on these deposits across tenors by 100 bps. Bulk deposits are those of at least Rs 1 crore.

These increases come a few days ahead of the Reserve Bank’s bi-monthly policy review, on Wednesday. The earlier review saw the policy rate unchanged at six per cent.

Majority of lenders to debt-ridden Reliance Communications (RCom) have decided to oppose China Development Bank’s (CDB’s) insolvency petition submitted to the National Company Law Tribunal (NCLT).

RCom said, “At a committee of creditors meeting on 29 November 2017, a majority of RCom’s lenders, foreign and Indian, aggregating 31, decided to oppose CDB’s insolvency petition against RCom before the NCLT, Mumbai.”

The deep depression over Camorin Sea has intensified into a cyclonic storm Ockhi which has triggered heavy rains in Tamil Nadu and Kerala. It is likely to intensify into severe cyclone storm moving towards Lakshwadeep islands in the next 24 hours.

According to latest reports, 4 people have been killed in Kanyakumari district of Tamil Nadu. All 4 were due to uprooting of trees, according to the police. Deceased include one woman.

Amidst allegations levelled by Congress vice-president Rahul Gandhi that Gujarat government has wasted Rs 33,000 crore of taxpayer money on the Tata Motors Sanand project, the company on Thursday chose to clear the air by clarifying the matter of loan extended by the state government to Tata Motors.

A Tata Motors spokesperson said, "The investor-friendly environment created by the Government of Gujarat (GoG) encouraged Tata Motors to set-up its manufacturing plant in Sanand, with a long-term vision to make it one of the leading automotive hubs, further enabling Gujarat to contribute to the prosperity and growth of India.

Describing Aadhaar as a major power to bring about an irreversible change in the common man's life, Prime Minister Narendra Modi on Thursday said that the Unique Identification Number will now be used in cases involving benami properties.

By linking Aadhaar to Mobile and Jan Dhan, we have created such a system that could not have been imagined few years back.

MUMBAI: Santosh Rangnekar, the Chief Financial Officer (CFO) of the BCCI, on Wednesday, submitted a written statement in the Supreme Court of India briefly narrating three separate incidents this year - first on January 6 & twice on October 6 - when he received 'threats' from Anirudh Chaudhary, honorary treasurer of the Board.

Gopal Subramaniam, the SC amicus, presented Rangnekar's statement to the three-judge bench of Chief Justice Dipak Misra also comprising Justices AM Khanwilkar and DY Chandrachud.

BENGALURU: Indian IT firms are spending more on education as part of their Corporate Social Responsibility (CSR), said industry apex body Nasscom Foundation on Wednesday.

"Education remains the focus area of IT firms' CSR activities, with 76 per cent of multi-national companies reporting highest spend on it, followed by 18 per cent on gender equality and 12 per cent on hunger and poverty in fiscal 2016-17," said the Foundation at its CSR Leadership Conference here.

Reliance Communications (RCom), which earlier this month defaulted on dollar notes, told bondholders that they would be treated the same as bank lenders in terms of their ability to recover funds, according to Citigroup.

The mobile phone operator controlled by billionaire Anil Ambani, whose failure to pay interest on the dollar notes comes as a high-profile test of the country's new bankruptcy laws, held the call on Monday, Citigroup said in a note to clients dated November 28.

New Delhi: Hyundai Motor India Ltd will introduce its electric vehicle brand Ioniq in India to tap into India’s ambitious plans to have an all-electric fleet in the country by 2030.

Ioniq, the brand under which the South Korean car maker sells electric, hybrid and plug-in hybrid cars globally, is expected to be showcased at the forthcoming Auto Expo scheduled to be held in February 2018, two people privy to the matter said.

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