The government on Tuesday said that it would disqualify more than 1 lakh company directors over their association with shell firms.

The corporate affairs ministry has “identified 1,06,578 directors for disqualification under Section 164(2)(a) of the Companies Act, 2013 as on September 12, 2017,” an official release said.

Reliance Industries (RIL) hits a new high of Rs 845, up 2.6%, extending its Tuesday’s nearly 1% gain on BSE. The stock surpassed its previous high of Rs 832.70 touched on September 7, 2017 in intra-day trade.

RIL is the second best performer stocks from the 30 share index Sensex, gaining 56% so far in the calendar year 2017 (CY17), as against 21% rise in the benchmark index. Tata Steel has rallied 74% so far in CY17.

Bharat Petroleum, which has just been upgraded to a Maharatna company, today said it has lined up capital expenditure of Rs 1.08 trillion for the next five years.

The public sector oil retailer will spend the money on capacity expansion of refineries as well as marketing and upstream activities, its chairman and managing director D Rajkumar told reporters at a post-AGM press meet here late evening.

India’s second-largest software exporter, Infosys, said on Tuesday it would open a technology and innovation hub in Raleigh, North Carolina, early next year. The centre will hire 2,000 local employees over the next four years.

Continuing with the strategy of former chief executive Vishal Sikka of hiring over 10,000 local workers in the US, Infosys looks to deepen relationship with clients and deliver digital services that need local resources. So far, it has hired over 1,200 local workers in the US.

After Thala Ajith Kumar’s movie Vivegam became a raging hit and created many records, several theaters across Tamil Nadu have confirmed Vivegam for the 4th week. Also, there will be grand 25th day celebrations. Famous Indian movie industry tracker Ramesh Bala, the celebrations will happen on 17th September. Taking to Twitter, Ramesh Bala said, “Several theaters across TN have confirmed #Vivegam for the 4th week.. There will be Grand #25thDay Celebrations on Sunday, Sep 17th..” Tamil movie superstar Thala Ajith Kumar’s film Vivegam is minting great money.

Microsoft has rolled out a new feature on its ‘Teams’ service which will allow guest access to all Office 365 commercial and education customers. The feature will allow Office 365 users to add people from outside their company to a team, so the guests can participate in chats, join meetings, collaborate on documents and more. “Beginning today, anyone with an Azure Active Directory (Azure AD) account can be added as a guest in Teams,” said Lori Wright, General Manager, Microsoft Teams, in a statement late of Monday.

India’s largest realty firm DLF has received the environment clearance for its Rs 240 crore commercial project which is to come up in Patto village, Goa. The proposed commercial complex, to be constructed on a 18,120 square meter plot, would have eight small screen multiplexes for small gatherings and it will be the first of its kind in Goa. The DLF’s proposal was first vetted by a green panel and based on its recommendations the Union Environment Ministry has given the final green clearance, said the EC letter issue to the company.

The Reserve Bank of India will have scope to cut benchmark interest rates once again as growth in Asia’s third-largest economy slows and consumer-price gains stay within the central bank’s target range, according to Kotak Mahindra Asset Management Co. “You have a confluence of favorable CPI, lower GDP growth and a necessity to keep rates stable with easing bias,” said Lakshmi Iyer, the Mumbai-based chief investment officer for debt at the money manager. “The scope for one rate cut by March 2018 is definitely there.” Calls for further monetary easing have resurfaced after data on Aug. 31 showed that economic growth in the April-June quarter was the slowest since 2014.

GMR Group, which operates three airports in India and abroad, is eyeing projects in South East Asia, East Asia and Eastern European countries besides looking for operations and maintenance of Jaipur and Ahmedabad aerodromes.

"Airport business, going forward, can be a significant growth engine for the group. In line with our growth strategy, the Group is actively pursuing suitable airport opportunities in India as well as globally," GMR said in its latest annual report.

MUMBAI: The Insurance Regulatory and Development Authority of India (IRDAI) has asked the Life Insurance Corporation (LIC) to review the return on its flagship Jeevan Akshay pension plan which provides regular income against upfront premium. The regulator wants the insurance company to ensure that returns are in line with yield on LIC's investments.

The directive comes at a time when the corporation is seeing record inflows into the pension plan, which offers a guaranteed return of 6.75-7% even as returns from government bonds have crashed. The yield on a 10-year government bond has fallen to a low of 6.5% as banks, flush with funds following demonetisation, are chasing investment avenues in the absence of credit growth.

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