Infosys CEO Salil Parekh's FY23 compensation stood at Rs 56.44 crore, down from Rs 71 crore in the previous year, the Bengaluru-based IT services company's annual report shows. The fall is primarily because Parekh exercised fewer restricted stock units during the year. The stocks are vested largely based on time but under the 2019 plan, the benefit is based on performance.

The decline in India's foreign exchange reserves is largely due to the valuation changes arising from an appreciating US dollar, Union Finance Minister Nirmala Sitharaman said. She made the remarks while addressing the International Monetary Finance Committee (IMFC) during the ongoing annual meeting of the World Bank and the International Monetary Fund (IMF) here on Friday.

As many as 132 BSE500 stocks hit their respective 52-week highs in May, spanning across sectors, riding on the positive momentum in markets. Some of the marquee names in the list include IndusInd Bank, Indian Oil Corp, Persistent Systems, Bharti Airtel, Hindustan Aeronautics Ltd, ITC, Kotak Mahindra Bank, IndiGo, Titan, Ultratech, DLF, Varun Beverages, Delta Corp, ICICI Bank, Tata Motors, HPCL.

Bond traders boosted expectations for one more Federal Reserve interest-rate hike in the wake of the latest jobs report, and are anticipating that the increase will most likely come in July. Bond traders have increased expectations of another Fed rate hike taking place in July, leading to an increase in tightening reflected in interest rate swaps linked to the Fed's June and July meetings.

Zydus Lifesciences has informed stock exchanges that its animal health drug manufacturing facility in the Ahmedabad SEZ has cleared an inspection by the USFDA. The inspection, which took place from May 30 to June 2, concluded without any observations or concerns raised. The USFDA inspection is a crucial step in ensuring compliance with international quality standards and regulations.

There has been a manifold increase in assets under the management of pension fund managers - from Rs 2,202 crore in March 2009 to Rs. 8.99 lakh crore by March 2023, according to The Pension Fund Regulatory and Development Authority, which released its first-ever Handbook of NPS Statistics – 2023 on June 2. This report covers data for all 13 pension fund managers registered with the PFRDA.

US stocks closed higher after a labour market report showing moderating wage growth in May indicated the Fed may skip a rate hike in two weeks, while investors welcomed a Washington deal that avoided a catastrophic debt default. The DJIA rose 701.19 points, or 2.12%, to 33,762.76, the S&P 500 gained 61.35 points, or 1.45%, to 4,282.37 and the Nasdaq Composite added 139.78 points to 13,240.77.

India's key stock indices eked out gains in choppy trade on Friday as shares failed to maintain their recent momentum amid concerns that the market may have run up too soon. Amid relief a day after US lawmakers passed a Bill to raise the national debt limit, investor focus will now shift to the Fed Reserve's rate decision coming up in mid-June. The Nifty was up 46.35 points to settle at 18,534.10.

The Reserve Bank of India (RBI) on June 2 said it has imposed monetary penalty of Rs 2.20 crore on Indian Overseas Bank (IOB) for rule violations. The penalty on IOB has been imposed as bank failed to make minimum mandatory transfer of a sum equivalent to 25 percent of its disclosed profit for the year 2020-21 to its reserve fund.

The govt's offer for sale in Coal India Ltd sailed through successfully following strong response from both institutional and retail investors. The portion reserved for institutional investors was subscribed 345% on Thursday and over 277% on Friday. While institutional investors have been allocated shares at Rs 226 a share, retail investors were allocated at Rs 226.10 a share.

India’s gross domestic product (GDP) growth for the fourth quarter at 6.1 percent came as a surprise to many. The wide divergence is not reason enough for economists to revise their forecasts for FY24 just yet. CRISIL chief economist DK Joshi has retained the estimate for FY24 at 6 percent with a higher bias. He said the global environment will spill over adversely to India's exports.

Tata Group, has committed an investment of Rs 13,000 crore to set up a lithium-ion cell manufacturing unit in Gujarat. The initial manufacturing capacity of the plant would be 20 gigawatts. A Memorandum of Understanding was signed between the Government of Gujarat and Agartas Energy Storage Solution, the Tata Group subsidiary, in the presence of Chief Minister Bhupendra Patel.

Insurance regulator IRDAI on June 2 identified SBI LIfe Insurance Company as the acquirer of insurance business of Sahara India Life Insurance Company after the company failed to comply with directions. "SBI Life shall take over the policy liabilities of around two lakh policies of SILIC, backed by the policyholders' assets," IRDAI added.

Bharat Earth Movers Limited (BEML) emerged as the lowest bidder for supplying 72 coaches for the Bengaluru Metro. Sources said BEML quoted Rs 10.6 crore per coach, while French railway major Alstom quoted Rs 14.3 crore. Another rolling stock firm, Titagarh Wagons, did not qualify in the technical bid.

Eruditus will not know the impact of the ongoing valuation markdown until it goes for the next funding round, said founder and CEO Ashwin Damera, discussing the possible repercussions after the US-based The Private Shares Fund slashed the fair value of the edtech unicorn by 9 percent in the March quarter.