News updates as on 25th October,2017

Infy board snubs Murthy, says Panaya deal is clean

Infosys has absolved itself of any wrongdoing with regard to the controversial Panaya deal as well as severance pay to its former CFO, virtually dismissing co-founder NR Narayana Murthy’s allegations against the company.Murthy responded on Tuesday to say he was “disappointed” by the development.The IT major said that after a “careful consideration led by our Chairman, Nandan Nilekani, the Board reaffirms the previous findings of external investigations that there is no merit to the allegations of wrongdoing.”

 Plea in SC against linking of mobile numbers with Aadhaar

A plea has been moved in Supreme Court challenging the notification of the Department of Telecom on linking of mobile numbers with Aadhaar.The plea filed by Tehseen Poonawala sought direction for quashing of the notification of March 23, issued by the Department of Telecom (DoT) and holding it “unconstitutional” and “null and void”.It also sought direction to the telecom operators to prevent them from implementing this notification and destroy the data already collected.

Sensex rallies 500 points, Nifty surpasses 10,300 on bank recapitalisation, infrastructure boost

The benchmark BSE Sensex rallied nearly 500 points to hit a fresh record high of 33,117.33 against the previous close of 3,607.34 and the NSE index Nifty surpassed 10,300 for the first time ever.A mega recapitalisation package for banks, a Rs 7 lakh crore infra booster and a surge in F&O rollovers to November series buoyed the domestic sentiment.

Amidst concerns over growth slowdown, the government has announced plans for bank capitalisation to boost the economy, spur investments and create jobs, as well as a highway construction project.

PepsiCo India to offer healthy sips with Aquafina’s new vitamin-fortified water

PepsiCo India is betting big on its brand Aquafina to tap into the fast growing value-added hydration and functional beverages segment, as consumers are lapping up health and wellness products.As part of this strategy, the company has launched its vitamin-fortified water product, the Aquafina Vitamin Splash. The company intends to sustain this strategy with the launch of a number of products in the next three years in the value-added hydration segment under brand Aquafina.

HDFC Bank Q2 net up 20% on healthy loan growth

Despite a near-doubling in provisions, most of it towards a project loan that underwent flexible structuring, HDFC Bank reported a 20 per cent increase in second quarter net profit.The net profit, which came on the back of healthy growth in deposits and advances, rose to rsケ4,151 crore from rs 3,455 crore in the year-ago quarter.

GST: Govt collects Rs 92,150 crore revenue in September

Revenue collection under the goods and services tax (GST) remained robust with Rs 92,150 crore collected for the month of September. This is marginally higher than the mop-up in August which was estimated at Rs 90,669 crore.