Promoters and foreign institutional investors (FIIs) have reduced their stake in information technology (IT) major Infosys during the third quarter (Oct-Dec) of the current fiscal.

Total promoter holding in Infosys has declined by nearly 300 basis points to 13.8% at the end of the third quarter from 15.92% in the second quarter ended September 30, 2014. FIIs shareholding in the software giant has decreased by 109 basis points to 41.58% from 42.67% in past three months.

Shareholders of Kotak Mahindra Bank today gave their approval to merge Bengaluru-based ING Vyaya Bank with itself.

At an extraordinary general meeting, shareholders of the Mumbai-based private bank approved the merger proposal. The exchange ratio has been fixed at 725 shares of Kotak with 1, 000 shares of ING Vysya.

The national capital on Wednesday reported the first swine flu death of the year with a 42-year-old woman from Uttam Nagar succumbing to the H1N1 virus at a private hospital here.

The woman had died yesterday evening while undergoing treatment at a private hospital but her death was reported today, said Charan Singh, Additional Director in-charge of Public Health, Health department.

Subdued demand growth last year notwithstanding, car companies are ready with their offerings to begin the new year on a fresh note, with at least three crucial launches lined up this month.

Mumbai-based Tata Motors, which has finally found its footing in the car market after the launch of a compact sedan few months ago, is eager to unleash its second model Bolt (a hatchback). Bolt will be launched on January 22.

Shares of Ashok Leyland were trading higher by 3% to Rs 62, its new high on BSE, on back of heavy volumes.

Till 0937 hours, a combined 11.91 million shares have already changed hands on the counter on the BSE and NSE.

Infosys Technologies, the country’s second largest information technology (IT) services company, might lower its revenue growth forecast (‘guidance’) for 2014-15 when it details the earnings for the October-December 2014 quarter (Q3 of FY15) on Friday.

Persistent cross-currency headwinds, coupled with seasonal weakness, are seen to be weighing on the performance. The Bengaluru-based company had earlier pegged revenue growth for FY15 at seven to nine per cent.

Benchmark shares indices extended losses in late morning trade as heavy selling by foreign funds weighed on market sentiment.

At 11:30AM, the 30-share Sensex was down 152 points at 26,835 and the 50-share Nifty was down 40 points at 8,087.

After crying foul over its social service obligations for years, including running un-economical lines, Indian Railways is trying to develop its new social face under the National Democratic Alliance (NDA) government.

Rail minister Suresh Prabhu is working on a plan to utilize unused infrastructure at 8,000 railway stations across the country to impart skill development training for unemployed youth, particularly in rural and far-flung areas.

Twelve people were reported dead and more than twenty five injured, even as reports come in, in an accident involving an APSRTC bus falling downhill on the Hindupur - Madakasira ghat road.

An Andhra Pradesh State Road Transportation Corporation (APSRTC) bus carrying more than fifty people, mostly students coming from Madakasira town to Hindupur for higher studies, started from Madakasira to Penukonda at around 7:45.

Indonesian search and rescue teams hunting for the wreck of an AirAsia passenger jet have located the tail of the aircraft underwater, agency chief Fransiskus Bambang Soelistyo told reporters on Wednesday.

We have found the tail that has been our main target today, said Mr. Soelistyo. The tail part has been found and confirmed at a position in our second priority sector.

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.