After halting tobacco production for 15 days following a new ministerial directive calling for covering 85 per cent of the cigarette package area with health warning, cigarettes to FMCG company ITC will soon resume production of cigarettes, the company said.

In a filing with the Bombay Stock Exchange, the company said the decision follows a ‘High Court order passed in favour of the company’ whereby it will “soon resume manufacture of cigarettes in its factories”.

Infosys on Friday said it would raise the salaries of its employees in India by 6-12 per cent while for employees at onsite locations, it would be 1.5-2 per cent, depending on the region.

For employees below the managerial level, the hike in salaries would come into effect from April 1, while for the rest it would be effective from July 1, the country's second largest information technology (IT) services firm said. Vishal Sikka, chief executive officer and managing director of Infosys, said the hikes were not limited to 12 per cent and would be much higher for star performers.

A joint venture led by Reliance Industries and BG Group has agreed to hand drilling infrastructure from an abandoned gas field to ONGC, their junior partner, helping the state-run group develop a large gas reserve nearby, two company sources said.

Executives from Reliance, BG and ONGC signed an agreement in New Delhi on Tuesday night — providing respite in a months-long battle between the partners over the cost of closing the Tapti field off India's west coast.

Mumbai: The Securities and Exchange Board of India (Sebi) is looking at ways to limit the advantages of co-location and high-frequency trading (HFT), according to two people familiar with the developments.

Discussions to create a level-playing field for those not using algorithmic trading (algo trading), which have been going on for more than a year now, could lead to the regulator introducing ‘non-disruptive restrictions’ on such trading.

Managing disgruntled employees and launching new flights, including one to Washington in August, are among Air India’s priorities this financial year, the state-run airline’s chairman has said in an internal note.

Instances of strange and sometimes indisciplined behaviour by some of the airline’s employees continue to surface—the most recent being a pilot refusing to fly till he had his choice of co-pilot.

In an unusual turn of events, L&T Infotech Ltd on Monday withdrew the draft red herring prospectus (DRHP) it filed with the Securities and Exchange Board of India, and filed it afresh on Tuesday. According to investment bankers, this was necessary because the estimated size of the issue has been cut by more than 10%. As it turns out, the estimated size of the issue has been cut by almost 30% to around $200 million, according to news reports.

KOLKATA: The diversified ITC group is embracing the online marketplace route to push its lifestyle retail business, especially its apparel brand John Players, which it plans to expand into newer categories.

Atul Chand, ITC's chief executive for lifestyle retailing business, said the company is considering introducing the John Players brand in categories such as footwear, eyewear, backpacks and bags, all of which will be sold through online marketplaces.

The market on Wednesday opened on strong note building hopes for a good monsoon. The Sensex rolled up 301.24 points or 1.2% at 25446.83, and the Nifty gained 82.80 points or one per cent at 7791.75.

At 1059 hours the Sensex was up 412.63 points or 1.64% at 25,558.22. While on NSE at 1101 hours was up 125.65 points or 1.63% at 7,834.60.

Wipro has gained 4% to Rs 592 on the BSE in early morning trade after India's third largest software exporter announced that it will consider a proposal to buy back shares of the company on April 20.

“The board of directors will consider a proposal for buyback of equity shares of the company on April 20, 2016,” Wipro said in a BSE filing.

Axis Bank became the first bank to reduce its key lending rate after the Reserve Bank of India (RBI) reduced its repo rate by 25 basis points last week.

The country’s third largest private sector lender cut its marginal cost-based lending rate (MCLR), the benchmark for pricing loans, by 15 basis points across all tenors. Axis Bank also reduced the base rate by 5 basis points to 9.45 per cent from 9.50 per cent effective April 18. Commercial banks moved to the new loan pricing regime from April 1.

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