Business

Shares of Infosys plunged up to 14 per cent after an anonymous group claiming to be employees of the IT major placed a whistleblower complaint to the company's board, accusing CEO Salil Parekh and CFO Nilanjan Roy of indulging in unethical practices to bo...

The company has raised the price of Rs 198 monthly pack to Rs 222 by adjusting cost of IUC calls worth Rs 80 as it has done in other new plans.

After trading on a positive note through the day, the 30-share Sensex surged at the fag end of the session to end 453.07 points, or 1.17 per cent, higher at 39,052.06. It hit an intra-day high of 39,104.69 and a low of 38,557.43.

State Bank chairman Rajnish Kumar said the Supreme Court judgment on Essar Steel should address much of the worries which are leading to legal tangles in the nascent bankruptcy laws.

This is the third such raise in the last month. The initial limit imposed on the harried customers of the bank was Rs 1,000, which was subsequently raised to 10,000 and Rs 25,000 after protests.

PMC is in bad health allegedly due to its exposure to near-bankrupt realty player HDIL, to which it has loaned over 70 per cent of its Rs 9,000 crore in advances.

At the interbank foreign exchange the rupee opened at 70.83, then gained further ground and touched a high of 70.74, registering a rise of 28 paise over its previous close.

The proposed merger, expected to be effective from April 1 next year, will lead to the creation of the country's second-largest lender after SBI, with a total business volume of about Rs 18 lakh crore.

Infosys was the top gainer in the Sensex pack, rallying 4.19 per cent, ahead of its quarterly earnings. Vedanta, Tata Motors, ONGC, Tata Steel, HUL, HCL Tech, Tech Mahindra and Bharti Airtel too rose up to 3.96 per cent.

In 2016, Kwality had raised Rs 300 crore from KKR India Financial Services and got additional commitment of Rs 220 crore. The amount was raised to fund its expansion plans and enter into consumer segment.

Religare has accused the two brothers of diverting funds, claiming that loans were taken by Shivinder Singh while managing the firm but the money was invested in other companies.

Compressed natural gas (CNG) sold to automobiles has been reduced by Rs 1.90 per kg in Delhi and by Rs 2.15 per kg in Noida, Greater Noida and Ghaziabad.

HDFC Bank faced the biggest hit, followed by Reliance Industries (RIL), Hindustan Unilever (HUL), HDFC, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance.

Yes Bank Ltd investors had a roller coaster ride this week, with shares closing 13.5% lower on a weekly basis.

According to the the Union Housing and Urban Affairs Ministry, the new interest rate has come into force from October 1.

On Wednesday, Yes Bank in a filing to BSE had also stated that its liquidity coverage ratio was in excess of 125% as on 30 September, which is well above the minimum regulatory requirement of 100%.