Infosys may gain on share buyback plan

Infosys announced that the board of directors of the company will consider a proposal for buyback of equity shares at its meeting to be held on 19 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

Shoppers Stop said that with effect from yesterday, 16 August 2017, the company has closed 'Shoppers Stop' store at Shyamala Towers - Chennai, due to lower than expected businesses and its low profitability. During the last financial year, sales from this store was 0.35% of the turnover of the company. With this closure, the company has now 79 'Shoppers Stop' (including six airport stores) stores under its operations. The announcement was made after market hours yesterday, 16 August 2017.

Indian Hotels Company scheduled a board meeting on 21 August 2017 for considering various fund raising options. The announcement was made after market hours yesterday, 16 August 2017.

Yes Bank with effect from 1st September 2017 has revised its savings account interest rate slabs for resident & non-resident customers. The new slabs were: 5% per annum for savings balances less than Rs 1 Lakh, 6% (unchanged) for balances of Rs 1 lakh to less than Rs 1 crore and 6.25% per annum for balances above Rs 1 crore. The announcement was made after market hours yesterday, 16 August 2017.

Piramal Enterprises said that Decision Resources Inc. wholly owned subsidiary of Piramal Enterprises in USA has acquired 100% of common and preferred stock of Context Matters Inc. The closing date of acquisition is 16 August 2017. Context Matters is a health economics data and technology company delivering global market access insights to the life sciences industry. The announcement was made after market hours yesterday, 16 August 2017.

United Bank of India said that it has reduced deposit rates for deposit upto Rs 1 crore from 6.25% to 6.1% per annum. Deposit rate for more than Rs 1 crore has been reduced from 4.5% to 4.35% and amount upto Rs 50 lakh has been revised downwards from 4% to 3.5% effective 18 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

Majesco, USA, (Majesco) the Insurance arm and a subsidiary of Majesco announced about the tier one customer expanding its strategic partnership with Majesco to provide additional services including development, testing and business analysis for their multi-year modernization program. The announcement was made after market hours yesterday, 16 August 2017.

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