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News digest: TCS results, ease of doing biz, LIC-IDBI Bank deal, and more

BS Web Team/New Delhi 11 Jul 18 | 02:43 AM

LIC to make open offer to IDBI Bank shareholders

Insurance behemoth Life Insurance Corporation (LIC) of India will not be given any relaxation from the Securities and Exchange Board of India’s (Sebi’s) takeover code and will have to make an open offer to the stakeholders of state-owned IDBI Bank. Read more.

TCS kickstarts FY19 with strong numbers

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Beating Street estimates, the country’s largest information technology (IT) services provider, Tata Consultancy Services (TCS), on Tuesday kick-started the first quarter (Q1) earnings with broad-based growth, while showing a double-digit rise in dollar revenue for the second quarter (Q2) in a row as the management exuded strong confidence of continuing with the momentum for the rest of the year. Read more.

Sebi launches proceedings against ICICI Prudential MF

The country’s largest mutual fund (MF) house ICICI Prudential Asset Management Company (AMC) may not escape simply by compensating its investors in the ICICI Securities fiasco. Read more.

Zomato turns 10, Aims to be ‘farm-to-mouth’ food company

As Zomato brought in its 10th anniversary celebration on Tuesday, there were no parties at its offices, nor was there any alcohol for employees to let loose and enjoy, as had been its tradition over the previous nine years. Read more.

Easiest to do business in AP, Telangana and Haryana

Andhra Pradesh, closely followed by Telangana and Haryana, topped the State Business Reform Assessment, 2017, which indicates ease of doing business in the country. Read more.

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Company Price Gain (%)
Sun Pharma.Inds.559.902.72
Reliance Inds.1,128.552.23
ICICI Bank266.001.84
Axis Bank534.451.36


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