BENGALURU: In a massive reorganization, Infosys is splitting itself into 12-15 smaller business units, each with revenue of $500-$700 million, its own sales heads and P&L (profit & loss) responsibilities. Currently, the organization is divided into four large verticals — banking & financial services and insurance, with $3 billion in revenue; retail & life sciences, with $2.3 billion; manufacturing & hi-tech, with $2.2 billion; and energy & utilities, communications and services, with $1.9 billion. Each of these will be split into smaller units.

Vientiane, Sep 8 (PTI): Prime Minister Narendra Modi on Thursday held bilateral talks with his Laotian counterpart Thongloun Sisoulith and discussed regional developments including the South China Sea issue.

The two sides shared the same perspective on South China Sea, a foreign ministry spokesperson said.

The country’s largest private lender ICICI Bank here on Thursday became the first bank in India to deploy ‘software robots, that emulate human action, in its over 200 business processes, thereby reducing the response time to customers by up to 60 per cent.

“The bank is the first in the country and among few, globally, to deploy ‘software robotics’ that emulates human actions to automate and perform repetitive, high volume and time consuming business tasks cutting across multiple applications,” ICICI Bank said.

IT stocks are in the news this month after Mindtree and Tata Consultancy Services (TCS) turned cautious on the sequential growth in Q2 earnings. Mindtree on September 2 informed bourses that it expects Q2 FY17 revenue to be lower than the previous quarter.

The Indian Space Research Organisation (ISRO) will launch the rocket GSLV-F05 carrying an advanced weather satellite INSAT-3DR on Thursday at 4.10 p.m. from the second launch pad of the Satish Dhawan Space Centre at Sriharikota.

The countdown for the launch of INSAT-3DR on-board commenced at 11.10 hours on Wednesday, the space agency said. Earlier, the Mission Readiness Review committee and Launch Authorisation Board cleared the countdown.

YES Bank flagged off a Qualified Institutional Placement issue of new shares, to raise up to $1 billion (Rs 6,600 crore), with the aim of supporting its growth for the next three years.

The price band for the shares, to be placed with institutional investors, is Rs 1,350-1,410 each. The face value of each share is Rs 10.

State-run Oil and Natural Gas Corporation (ONGC) has posted a 21.1 per cent decline in net profit for the June quarter to Rs 4,233 crore against Rs 5,368 crore in the year-ago period, owing to a drop in production.

Gross revenue also dipped 21.4 per cent to Rs 17,784 crore against Rs 22,628 crore during the period of the previous year. Due to a dip in international prices, no discount was given by the company to oil marketing companies for the quarter, while it was Rs 1,096 crore during the same period a year ago.

German luxury carmaker Mercedes- Benz today launched the petrol version of its premium SUV 'GLS 400 4MATIC' priced at Rs 82.90 lakh (ex-showroom Delhi).

With the launch of the new vehicle, the company said it has completed offering petrol option along with diesel variants for all the models that it sells in India.

Diversified group GMR on Wednesday said it plans to spend $700 million on airport projects in Cebu, the Philippines and Goa in a little over three years.

Currently, GMR is operating airports in the national capital, Hyderabad and Cebu under different public private partnerships.

Mumbai: To beat competition from its own peers and private players, state-run Hindustan Petroleum Corp. Ltd (HPCL) has decided to experiment with dynamic fuel pricing at its fuel retail outlets, said two senior HPCL officials, on the condition of anonymity.

Currently, HPCL has launched dynamic pricing at a few of its retail outlets on a pilot basis, to be extended to other outlets across the country at a later stage.

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