Infosys on Friday termed a media report that states the company’s founders will sell their 12.75% stake valued at around Rs 28,000 crore, as mere speculation, and stated that there was no such development. A report had stated that the founders led by N R Narayana Murthy are exploring the possibility of a sale with their holdings to be sold in tranches and not enbloc.A statement from Infosys said, “This speculation has already been categorically denied by the promoters. The company further reiterates that it has no information on any such development.

Growth in the sales of both the passenger car and utility vehicle segment slowed down in May since most of the top car makers barring Maruti Suzuki registered low single-digit growth in wholesale dispatches mostly due to lack of new products and capacity constraints. Maruti Suzuki registered 15.5% y-o-y growth in May on the back of healthy demand for its new offering – Baleno, Vitara Brezza, Ignis and Dzire. Apart from the new offerings the wholesale volumes of Alto and Wagon R also increased in the first two months of the fiscal as a result of the revival of demand in the rural and semi urban markets.

The Competition Commission of India (CCI) has unanimously rejected Bharti Airtel’s complaint of predatory pricing and anti-competitive behaviour against Reliance Jio Infocomm, filed by the former in February. The grounds on which Bharti’s complaint was rejected were that the relevant market has to be telecommunication services and not 4G services; geographic market cannot be all-India but each of the 22 circles; free services does not mean elimination of competition if player not dominant; and huge investments by parent Reliance Industries in Jio has not established a dominant position of the latter.

It took a little over three years for State Bank of India (SBI) to overwhelm the markets with the sale of its shares to institutional investors (called qualified institutional placement or QIP in banking parlance).

In January 2014, SBI struggled to raise just over Rs 8,000 crore, way below the targeted Rs 9,600 crore, which, many believed, was a bailout by Life Insurance Corporation of India (LIC). Many foreign institutional investors (FIIs) skipped the issue then over difference on pricing and concerns over bad assets.

Mumbai: The BSE benchmark Sensex and broader NSE’s Nifty on Friday rebounded about 49 points to close at 31,262.06 on fag-end buying in sectors such as realty, metal, auto, banking and health care amid a firming trend in global markets. Furthermore, covering-up of short positions by bears too supported the late recovery in stocks, helping wipe off initial losses.

The 30-share index started on a bearish note at 31,196.86 stayed in the negative terrain for most part of the day to hit a low of 31,087.28 as participants indulged in trimming their positions to lock in gains. However, late buying helped it stage a strong comeback to wipe off day’s losses to scale a high of 31,289.99 before ending 48.70 points, or 0.16%, higher at 31,262.06.

Popular messaging app WhatsApp, in 2016 had said that it will stop its support of outdated devices. The Facebook-owned company had said that the app will stop running on many older smartphones including iPhone, Windows Phone, Nokia, Android and BlackBerry. Meanwhile, as a change of heart, WhatsApp had decided that it will be extending its support for BlackBerry 10, BlackBerry OS, Nokia Symbian and Nokia S40 until the end of June 2017. In December 2016 itself, many other old smartphones did, however, lose the support of the popular messaging application.

The Supreme Court on Friday put a partial stay on the implementation of the provisions in the Income Tax (I-T) Act making Aadhaar number mandatory for allotment of PAN card and filing of income tax returns (ITR).

However, the apex court upheld the validity of Section 139AA of the I-T Act, subject to the outcome of the batch of petitions before its Constitution bench which is examining if the Aadhaar scheme infringes on the Right to Privacy and if there is threat of data leakage.

Social media giant Facebook is planning to secretly watch and record users through their webcams and smartphone cameras.

"According to a newly discovered patent, the company will use technology to see how facial expressions of users change when they come across different types of content on the site," Independent.co.uk reported on Friday.

Bharat Sanchar Nigam Ltd (BSNL) is mulling to revise its home broadband tariffs to counter the entry of Reliance Jio’s fibre-to-the-home (FTTH) broadband service, according to a report in the Economic Times.

According to the Telecom Regulatory Authority of India (TRAI), BSNL leads the wired broadband market with almost 10 million subscribers. The state-run company currently offers FTTH based broadband connection for as low as Rs 799 under which the subscriber gets 10 GB of broadband data at 4 Megabits per second (Mbps).

State-owned fuel retailer Hindustan Petroleum has received environment clearance for expansion of Ramanmandi Bahadurgarh Petroleum Products Pipeline (RBPL), whose project cost is Rs 230 crore.

Hindustan Petroleum Corp Ltd (HPCL) operates a 243 km long cross-country pipeline RBPL for transportation of various petroleum products. Its existing capacity is 4.71 million tonnes per annum and the company has proposed to enhance up to 8 million tonnes per annum for transportation of additional petroleum products.

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