IT & ENTERPRISE - NEWS & ANALYSIS /

Infosys, Cognizant plan big buybacks to cut cash pile

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Bengaluru: Infosys and Cognizant are considering massive share buybacks as a way to restore investor confidence and engage in a more tax-efficient way to return money to shareholders. Infosys is planning up to a Rs 12,000 crore ($1.8 billion) share buyback, a move that is pending final nod from its key shareholders, including the founders. Sources said the company is currently discussing the buyback process–whether it should be an open tender or a market buyback–as also the premium to be paid.

Samsung Galaxy C9 Pro launched in India with 6GB RAM at INR 36900

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Samsung India, on Tuesday launched the Galaxy C9 Pro smartphone that comes loaded with 6GB RAM, 16MP front and back camera and 6 inch Full HD sAMOLED display. The Galaxy C9 Pro sports all metal unibody and is dubbed as a feature powerhouse. Samsung Galaxy C9 Pro will be available in Black and Gold colour variants. The device will be available across all retail channels in the latter half of February 2017 at a price of INR 36,900.

Tech Mahindra launches Makers Lab to boost innovation

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PUNE: Tech Mahindra has officially launched its Makers Lab program in Pune, an internal lab to boost innovation within the company. Makers Lab is currently active in four locations across India – at Pune, Chennai, Hyderabad and Bengaluru, with Pune housing the largest facility with 40 people. The lab was set up in 2014, and has since come up with a few innovative solutions that are being used either internally at Tech Mahindra or by clients.

Vodafone’s mPesa eyes bite of $800 billion market

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Mumbai: Vodafone’s plans for mPesa have got a big boost with the RBI’s decision to allow merchants use digital wallets to accept payments up to Rs 50,000 a month without complying with “know your customer” norms. Ahead of the mPesa payments bank launch in March 2017, Vodafone has launching a new service where retailers can accept wallet payments.