Infosys in focus as Finacle teams with Oracle to offer Finacle on Oracle Cloud

Infosys announced after market hours yesterday, 23 November 2015, that its product subsidiary, Infosys Finacle, launched a new offering 'Finacle as a managed service on Oracle Cloud'. This offering will enable banks globally to leverage Finacle's industry-leading solution suite, along with other enterprise-class applications hosted on premise or in an external environment, to gain agility and cost efficiencies, Infosys said in a statement. With this offering, Finacle becomes one of the first comprehensive banking platforms to be available as a managed service on Oracle Compute Cloud, Infosys said.

Sun Pharmaceutical Industries (Sun Pharma) after market hours yesterday, 23 November 2015 said that it has made payment of interest on and redemption amount pertaining to 5,000 secured rated redeemable non-convertible debentures (NCD) of the face value of Rs 10 lakh each aggregating to Rs 500 crore (listed on National Stock Exchange of India), on 23 November 2015 to the NCD holders of the company whose names stand registered on the Register of beneficial owners maintained by depositories in respect of the NCDs held in electronic form on 10 November 2015.

IDBI Bank after market hours yesterday, 23 November 2015 said that the bank acting through its Dubai International Financial Centre branch has on 23 November 2015, launched the issue of green bonds with a tenure of 5 years and denominated in US dollars. IDBI Bank proposes to use the net proceeds from the sale of the notes to fund, or reimburse the bank for its funding of, certain new and existing eligible Green projects.

Titan Company announced after market hours yesterday, 23 November 2015, that it tied up with HP Inc., one of the world's leading information technology companies, to launch a range of smart watches later this year in India and select international markets.

Federal Bank announced after market hours yesterday, 23 November 2015, that it has decided to reduce its base rate to 9.63% per annum from 9.95% per annum with effect from 1 December 2015.

Lanco Infratech announced after market hours yesterday, 23 November 2015, that Lanco Anpara Power - 1200 MW (LAnPL) one of the step-down subsidiary of the company received tariff order from Uttar Pradesh Electricity Regulatory Commission (UPERC) to compensate for changes in RFP/PPA conditions in respect of coal supply and power purchase payments.

Max India announced after market hours yesterday, 23 November 2015, that its board of directors approved to further strengthen the relationship with the joint venture (JV) partner in Max Bupa Health Insurance Company (Max Bupa). Max India has decided to divest 23% stake in Max Bupa in favour of Bupa Plc., UK. Bupa will pay Rs 191 crore (as increased by 23% of further capital infusions by shareholders in Max Bupa till the transaction is implemented) to Max India in an all cash transaction, to increase its stake in Max Bupa from 26% to 49%. Correspondingly, Max India's shareholding in Max Bupa will come down to 51% from the present level of 74%. The proposal is subject to the approval of Foreign Investment Promotion Board (FIPB) and Insurance Regulatory and Development Authority of India (IRDA), Max India said in a statement.

Further, the board also approved a capital contribution of up to Rs 150 crore by the company in Max Healthcare Institute, an equal joint venture between the company and Life Healthcare, South Africa, for its proportionate share of 46% equity stake in Max Healthcare, to enable Max Healthcare acquire a controlling stake of 51% in Saket City Hospitals, Max India said.

Meanwhile, the board of directors also took note of Embedded Value report as at 30 September 2015, shared by Max Life Insurance Company Limited (Max Life), its subsidiary. As per the report, the embedded value of Max Life as at 30 September 2015 is at Rs 5363 crore, after allowing for interim dividend payout of Rs 220 crore to the shareholders of Max Life. The annualised operating return on Embedded Value for the half year ended 30 September 2015 is at 14.8% and the annualised return is at 13.8%. The value of new business written during the half year ended 30 September 2015 is Rs 163 crore and the portfolio new business margin is 20.2% (before cost overrun) and 17.0% (after cost overrun), Max India said.

Sanwaria Agro Oils announced after market hours yesterday, 23 November 2015, that its board of directors has decided to form a subsidiary company in Dubai to cater specific business needs for export and marketing of Basmati Rice for Middle East Market. Further, Iran, Iraq and African markets will also be catered through this subsidiary. Presently, the company is introducing its Basmati Rice Brand "Nashira" for the Middle East market and others with a local partner there, the company said in a statement.

Further, the board of directors noted that presently the paddy processing capacity of the company under operation is 600 metric tonnes (MT) per day and a substantial portion of revenue of the forthcoming quarters, including the running quarter, will come from paddy/rice business.

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