Microsoft Corp. is planning a global sales reorganization to better focus on selling cloud software, according to people familiar with the matter. The restructuring is scheduled to be announced as soon as next week and will impact the Worldwide Commercial Business under Judson Althoff and Jean-Philippe Courtois’ global sales and marketing group, the people said. Job cuts are likely to result from the changes, said the people, who asked not to be identified speaking about unannounced plans.

A protest against “leak” in an ONGC pipe at Kathiramangalam near here turned violent as locals and activists clashed with police officials, prompting them to baton charge the protestors which left several persons, including two policemen, injured. Police said the people and some activists, who allegedly belonged to a political party, had blocked road and disrupted traffic following the reported leak in a pipe. They also prevented the ONGC officials who had rushed to the spot to inspect and plug the leak, leading to tension, police said.

Three key reasons for the upgrade to ‘buy’ from ‘neural’: early stress recognition and high NPA coverage of 58% imply a lower P&L hit in FY18F from higher provisions for RBI’s identified large NPAs; the PPOP outlook is better than peers as the capital levels will not constrain growth, and unlike peers there are positive NIM catalysts for BOB in FY18F – we expect +12% ROE in FY19F; with a 17% correction in the past two months, we believe the market expectations on NPA resolutions are more realistic with BOB trading at 0.85x Mar-19F adjusted book.

MUMBAI: Himanshu Kapania, the managing director of Idea Cellular, is believed to have emerged the frontrunner to head what would be India’s largest telco formed out of the ongoing merger between India’s No. 3 carrier and second ranked Vodafone India, two people familiar with the matter said.

“It’s only logical that Kapania should be heading it (the merged telco),” one of the people with direct knowledge of the matter, said. “The formal decision though hasn’t been taken. There’s enough time left (for the merger).”

Giving relief to government-owned Indian Railway Catering and Tourism Corporation (IRCTC), the ministry of finance has decided to reimburse the loss of the Railways' subsidiary due to the waiver of service charge for online booking of train tickets.

This service charge was exempted from November 23, 2016, to boost digital transactions. Before demonetisation, IRCTC used to charge Rs 40 a ticket for bookings in air-conditioned classes and Rs 20 per ticket in the sleeper class. The finance ministry is likely to reimburse about Rs 500 crore to IRCTC annually.

By the end of September this year, India will have its first branded chocolate boutique as the Kolkata-based cigarette to FMCG major, ITC Ltd, makers of the Fabelle luxury chocolate brand, has decided to finally come up with two such boutiques in Delhi and Kolkata, outside its hotel premises.

"Spaces have been identified and will be operational sometime next quarter. The identified spaces will be our own in the current phase to ensure quality and a befitting experience for the consumer", Hemant Malik, divisional chief executive of the foods business at ITC Ltd told Business Standard.

Regulator Sebi on Friday put in place a new framework for consolidation in debt securities as part of its efforts to deepen the corporate bond market.

Liquidity in the secondary market for corporate bonds will be increased by way of minimal number of ISINs (International Securities Identification Numbers).

India’s largest refiner Indian Oil Corp is setting up an office in Singapore that will handle crude oil purchases and the sales of oil products from its refineries later this year, trade sources said on Friday. The state-run company is part of a growing group of refiners in Asia that have set up offices in Singapore’s oil hub to keep closer tabs on the market and react more quickly to changes. IOCL Singapore – as the Singapore unit will be named – will initially have two staff to handle some of the crude purchases for its refineries, said the sources, who declined to be named because they are not authorized to speak to the media.

SN Subrahmanyan will take charge as the CEO and Managing Director of Larsen & Toubro from tomorrow, which will also mark the end of the nearly two-decade long tenure of A M Naik at the helm. The appointment was approved by the company board on April 7 and marks a major change in leadership positions at L&T where Naik has served for over 52 years, including as its head for over 17 years, the company said in a statement. Subrahmanyan is currently the deputy managing director and president of the company.

ITC, BASF, Avanti Feeds, ICICI Prudential Life Insurance, Grasim Industries and Aditya Birla Nuvo from the S&P BSE 500 index hitting their respective record highs on BSE in intra-day trade on Friday.

ITC has moved higher to its new high of Rs 324, up 4% on BSE on back of heavy volumes. Till 02:44 pm; a combined 19.21 million shares have changed hands, as compared to an average sub 10 million shares that were traded daily in past two weeks on BSE and NSE.

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.