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Business

Infosys shares plunge nearly 17%; m-cap drops by Rs 53,451 crore on whistleblower complaint

New Delhi: Shares of IT services firm Infosys on Tuesday plummeted nearly 17 per cent, wiping Rs 53,451 crore from its market valuation, on concerns over a whistleblower complaint which alleged that two top executives of the company were indulging in unethical practices to increase short-term revenue and profits.

 


Infosys plunges 16% on whistleblower complaint

 IT services firm Infosys on Tuesday plummeted 16 per cent on concerns over a whistleblower complaint which alleges that two of the company's top executives were indulging in unethical practices to increase short-term revenue and profits.


LATEST HEADLINES

Om Birla attends swearing-in of new B'desh PM, says India stands ready to support BNP govt


Karnataka, France explore deeper ties in AI, aerospace, defence manufacturing


Ramadan to begin tomorrow in Saudi Arabia following crescent sighting


Tata-Airbus helicopter facility shining example of partnership in high-end manufacturing: Rajnath


Two die in Kerala of suspected food poisoning after eating at Vizhinjam eatery


Karnataka leadership row intensifies with minister's 'dog' remark


Telugu actress death: SC upholds jail for paramour, directs him to surrender


Udupi, Dakshina Kannada to begin Ramadan fasting from Thursday


22 Naxalites surrender in Chhattisgarh's Sukma district


India intensifying engagement with global partners from position of strength: Jaishankar


Actor Rajpal Yadav walks out of Tihar Jail after HC suspends sentence in cheque bounce cases


Bengaluru narcotics crackdown: 15 held, drugs worth Rs 10.59 cr seized




'Brutally unfair' that system can't protect common man's savings, says HDFC chairman Deepak Parekh

Mumbai: Amid the crisis at Punjab & Maharashtra Cooperative Bank (PMC), HDFC chairman said it is "brutally unfair" we have regular loan waivers and corporate loan write-offs but no financial system to protect the common man's savings.

 

Ambani tops for 12th year in a row, Adani jumps 8 places to second spot: Forbes

New Delhi: The past year has proved challenging for the India's ''wealth creators'' as Forbes' 2019 list of business tycoons saw their total wealth dropping by 8 per cent.

 

Industrial production shrinks by 1.1 pc in August; poorest performance in 7 years

New Delhi: Signs of slowdown became more pronounced as the government data on Friday revealed factory output shrank by 1.1 per cent in August, recording the poorest performance in seven years due to a sharp decline in production of capital goods and consumer durable.

 

Two Indian-origin businessmen makes it to Fortune's '40 Under 40' list

Two Indian-origin persons have been named by American magazine Fortune in its annual list of 40 most influential and inspiring young people in business under the age of 40.

Sensex sinks 642 points as crude oil woes persist

Mumbai: Market benchmark BSE Sensex on Tuesday plummeted 642 points as investors weighed India's fiscal worries due to soaring crude prices in the wake of growing geopolitical tensions in the Middle East.

In 100 days of Modi Govt. 2.0, Rs. 12.5 lakh crore of Investors' wealth wiped out

Investors' wealth worth Rs. 12.5 lakh crore has been wiped out in the first 100 days since the second term of Prime Minister Narendra Modi's government started on May 30. At yesterday's closing, the market capitalisation or market value of companies listed on BSE stood Rs. 1,41,15,316.39 crore as against market capitalisation of Rs. 1,53,62,936.40 crore a day before PM Modi's government came to power.

Alibaba's Jack Ma steps down as industry faces uncertainty

Jack Ma, who founded Alibaba Group, the world's biggest e-commerce company, is stepping down as chairman at a time when the rapidly changing industry faces uncertainty amid a US-Chinese trade war.

Maruti Suzuki announces 2-day shutdown of Gurugram, Manesar plants

New Delhi: India's biggest carmaker Maruti Suzuki today announced no-production days at Gurugram and Manesar plants on 7th September and 9th September 2019.

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