‘Sebi keeping a watch on Infosys share price’
Markets regulator Sebi on Tuesday said it is keeping a close tab on the share price movement of Infosys, which saw its first non-promoter CEO Vishal Sikka quitting last week amid differences with its founders. Shares of Infosys plunged by nearly 10 per cent on Friday wiping out Rs 22,519 crore from its market valuation, after Sikka’s resignation. It fell further by over 5 per cent on Monday despite buyback announcement by the company. The country’s second largest software services firm on Saturday announced that its board approved a share buyback offer of up to Rs 13,000 crore. “We are keeping a watch on Infosys share prices,” Sebi Chairman Ajay Tyagi said here on Tuesday.
The Sebi chief said the regulator will stick to its December deadline for linking Aadhaar with e-KYC for trading accounts. The move is aimed at curbing money laundering and tax evasion through stock markets. Demat-Aadhar link All demat account holders are required to link their
“We can, we will”: Interim Infosys CEO Rao
Days after taking over the mantle from flamboyant technocrat Vishal Sikka, software major Infosys' unassuming interim CEO U.B. Pravin Rao on Tuesday reached out his nearly 2 lakh employees, asserting: "We can do it again and we will". "We can do it again and we will. Helping each other, when it is needed, to stay focused on what matters - our commitments, our clients, our vision of who we really are," Rao said in an e-mail to the company's techies the world over. Asserting that the $10 billion IT major would stay on course, come what may, Rao said that despite the changes following Sikka's sudden exit, the company would continue to execute on the strategy laid out for the current fiscal and the near future. "We have seen how new services are gaining traction, how our embrace of automation is helping us become more productive ," he said.
accounts with Aadhaar by December 31, 2017. In case of failure to submit the documents within the prescribed time limit, the account would be suspended till the Aadhaar details are submitted by the client. Last week, the BSE asked trading and clearing members to report preparedness for furnishing Aadhaar details of their clients. While trading members have to submit report on their preparedness by August 23, clearing members and custodians have to do the same by August 25. In compliance with the amended Prevention of Money Laundering norms, banks have already sought Aadhaar details
from their customers. When asked about more action against shell companies, Tyagi said “wherever there is a violation of securities law, they have to be investigated and looked into irrespective of whether it is shell or whatever name you give them. One does not wait for any reference from anywhere“. He also said that panel on corporate governance is expected to submit its report by the end of September. In a bid improve standards of corporate governance of listed companies, Sebi set up a committee in June under the chairmanship of Uday Kotak, chief of Kotak Mahindra Bank.