 "News digest")
TCS board approves proposal to buy back up to 76 million shares worth Rs 160 billion
The board of directors of Tata Consultancy Services (TCS), the country’s largest information technology services provider, on Friday approved a proposal to buy back up to 76 million equity shares worth about Rs 160 billion. The buyback price has been fixed at Rs 2,100 a share, a 15 per cent premium over its current market price. The promoters’ holding in the company now stands at 71.92 per cent. Read more
India's exports hit 6-month high; trade deficit widens as imports up 14.85%
A rise in receipts of petroleum, engineering and pharmaceutical products boosted May’s export growth figures to a six-month high of 20.18 per cent, up from 5.71 per cent in April. Read more
Donald Trump sets 25% tariff on $50 bn of Chinese goods, faces retaliation
US President Donald Trump announced hefty tariffs on $50 billion of Chinese imports on Friday as Beijing threatened to respond in kind, in a move that looks set to ignite a trade war between the world's two largest economies. Read more
ICICI Bank-Videocon case: Auditors and lawyers to help Srikrishna probe
Former Supreme Court judge B N Srikrishna, who has been appointed by the ICICI Bank’s board to probe the allegations of conflict of interest against its MD and CEO Chanda Kochhar, will be aided by a number of internal and external ‘experts’ to complete the investigation. Read more
Investments in small savings schemes rise to Rs 1.55 trillion in 2017-18
Confirming the recent shift in public preference for parking money in financial instruments like mutual funds and insurance schemes rather than bank deposits and physical assets, small savings schemes have re-emerged as a lucrative investment option for the Indian public. Read more
