After it successfully challenged an earlier rejection in court, HDFC Pension Fund Management Company, wholly owned subsidiary of HDFC Life Insurance, had its commercial bid considered on Friday for selection of fund managers in the National Pension System (NPS) for the private sector.

The bid was opened on Friday and sources indicated it was among the top eight bidders, and would be required to match the lowest bid of one paisa for every Rs 100 of NPS funds.

Madhu Kapur, the second-largest shareholder of YES Bank, filed an amended suit in the high court here on Friday, challenging the resolutions passed at YES Bank's annual general meeting (AGM) on June 14.

Kapur has challenged the appointment of directors and the reappointment of Rana Kapoor as managing director and chief executive.

Commending the role of N R Narayana Murthy, banker K V Kamath on Friday said the Infosys co-founder had "got the cost equation right" to improve revenue growth.

Kamath, also the non-executive chairman, said it was on "successor" Vishal Sikka to take that agenda forward.

Till Thursday, the country had received 41 per cent less June rainfall than normal - the scantiest in a decade and one of the rarest occasions when the shortfall in the month was more than 30 per cent - private weather forecaster Skymet said in its daily weather forecast on Friday.

Even as the southwest monsoon continued to remain sluggish over many parts of central and western India, Skymet said: "The month of June has been the driest in India in a decade."

Tata Consultancy Services (TCS) Chairman Cyrus Mistry on Friday exuded optimism on growth prospects, assuring shareholders he would try to give them the “same love and affection” predecessor Ratan Tata had.

The chairman of India’s largest information technology services company also told shareholders growth momentum was expected to continue, with a thrust on investing in the expansion of strategic businesses. He added these investments, in areas such as digital business, would play an “impactful” role.

Bangalore: Wipro Ltd independent director Henning Kagermann has resigned from the company’s board to comply with regulatory requirements in Germany, while two other directors have decided not to seek re-election.

B.C. Prabhakar and Shyam Saran, who joined the board of India’s third-largest software services firm in 1997 and 2010 respectively, will cease to be board members at Wipro, effective 23 July, Wipro said in a statement on Thursday.

Mumbai: L&T Technology Services, a unit of Larsen and Toubro Ltd (L&T), said on Thursday that it has acquired a 74% equity stake in Thales Software India Pvt. Ltd, to strengthen its avionics business.

Avionics are the electronic systems used on aircrafts, artificial satellites, and spacecrafts.

Mumbai: The top-five private companies by market capitalization added 578,804 employees in the year ended 31 March, the fewest in 3 years, as companies focused on improving productivity of its existing employees amid a slowdown in the economy.

Tata Consultancy Services Ltd (TCS), Reliance Industries Ltd (RIL), ITC Ltd, HDFC Bank Ltd and Infosys Ltd, saw their combined headcount rise 5% from the previous year, according to data collated from the annual reports of each of the companies.

Muslims make up 3.46 per cent of the country’s 8,417 IAS and IPS officers. Of 292 Muslim officers, 160 are among 5,862 who had cracked the UPSC exams, while the remaining 132 are among 2,555 who were promoted to the IAS or IPS from the state civil services on the basis of seniority and performance.

The BSE Sensex gains 0.36 per cent, while the Nifty is up 0.39 percent. Gains were led by value-buying in blue-chip stocks such as Oil and Natural Gas Corp after the stock fell sharply in the previous session. Oil & Natural Gas Corp (ONGC) gains 1.2 per cent after falling 5.8 per cent on Thursday.

Shares in Ranbaxy Laboratories Ltd are up 4.7 percent and Sun Pharmaceutical Industries gains 3.65 percent after the U.S. Food and Drug Administration approved the company's generic version of Novartis AG's blood pressure drug Diovan.

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.