IT services major Infosys on Thursday said it had completed the acquisition of Kallidus Inc. (d.b.a Skava) and its affiliate, the company said in a press release.

Earlier, on April 24, Infosys has announced that it had signed a definitive agreement to acquire the U.S.-based Kallidus Inc. and its affiliate in an all-cash deal for a total consideration of $120 million, including retention bonus and a deferred component.

Sebi on Thursday imposed a penalty of Rs 2 crore on New Delhi Television Ltd (NDTV) for delayed disclosures to the stock exchanges about a Rs 450-crore tax demand in early 2014.

The fine has been slapped for violation of disclosure norms under listing agreement.

NEW DELHI: State-owned Indian Bank on Thursday slashed base rate or the minimum lending rate by 0.3 per cent while United Bank of India (UBI) has reduced fixed deposit rates by up to 0.25 per cent on select maturities.

With the reduction, the base rate would be 9.95 per cent from 10.25 per cent effective June 8, Indian Bank said in a statement.

NEW DELHI: A cabin crew member of an Air India flight was detained by the Jeddah Airport authorities on charges of smuggling out gold.

The detained cabin crew was to board the flight bound for Kochi, along with 11 other crew members, sources said here tonight.

ICICI Bank, the country’s largest private sector lender, aims to grow its loan book 3-4% ahead of credit growth this fiscal year.

In an investor presentation, the lender said that it will continue to be selective while lending to the corporate and SME sector.

Employees of State Bank of India's associate banks, including State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and State Bank of Hyderabad, went on a one-day strike today to protest their merger with SBI permanently.

They also demanded filling up of vacancies, increasing the staff strength in the Housing loan section and extending the compassionate ground appointments to associate banks also.

Commercial vehicle major Ashok Leyland's standalone net profit in 2014-15 rose to Rs 335 crore from Rs 29 crore in the prior year. Total income climbed 36 per cent to Rs 13,562 crore in 2014-15 from Rs 9,943 crore in 2013-14. The company's share of the medium and heavy commercial vehicle market increased to 29 per cent during 2014-15 from 26 per cent in 2013-14.

Bengaluru: Flipkart Ltd on Wednesday promoted marketplace operations head Ankit Nagori to the newly created role of chief business officer as India’s largest e-commerce firm seeks to accelerate its shift to a marketplace model and triple the number of third-party sellers on its platform by December.

Nagori’s earlier role was senior vice-president, marketplace. He will now oversee the marketplace business as well as the company’s retail and brand alliance function, which has ceased to exist on a separate basis. He will continue to report to Mukesh Bansal, head of Flipkart’s e-commerce platform.

Mumbai/New Delhi: Swedish manufacturing company AB Volvo is looking to sell its remaining 3.71% stake in Eicher Motors Ltd and monetize 1.01 million shares of the Indian company that it currently holds. Shares of Eicher Motors were trading at Rs.18,210 apiece on Wednesday.

According to a term sheet reviewed by Mint, the company will look to sell its stake in a block deal on Thursday. The shares, if sold in the range of Rs.17,190-18,190 apiece, taking into account a maximum discount of 5.5%, could fetch Volvo as much as Rs.1,820 crore.

Good news for India! The native mobile phone maker Micromax ranks among the top 10 global handset vendors with 1.8% market share during the January-March quarter with 8,158,000 units sold, reports Gartner.

In a press release, Micromax stated that it has received overwhelming responses toward the Canvas series including new handsets like Canvas Spark, Canvas Knight and Canvas Fire among others.

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