Infosys in spotlight after inking agreement to acquire digital studio in London

Infosys announced a definitive agreement to acquire Brilliant Basics, a London-based product design and customer experience (CX) innovator. This acquisition represents Infosys' commitment to the expansion of a worldwide connected network of Digital Studios. These studios are focused on fulfilling the needs of our global clients for end-to-end digital Transformation solutions required to meet customer demand for next-generation enhanced customer experiences. With Infosys Digital Studios spanning the globe - from Bengaluru and Pune to New York, London and Melbourne - the addition of Brilliant Basics will enhance the company's expertise in the financial services, retail and telco sectors across Europe and the Middle East. The acquisition is expected to close during the second quarter of fiscal 2018. The announcement was made after market hours yesterday, 3 August 2017.

Mahindra & Mahindra (M&M) informed that the loans & investment committee of directors approved selling up to 96.66 lakh equity shares, or 13.74% equity, in Mahindra Logistics (MLL), a subsidiary of M&M, as part of the proposed initial public offering of MLL.

Among prominent companies, Dabur India and Mahindra & Mahindra (M&M) will announce April-June 2017 results today, 4 August 2017.

Dewan Housing Finance Corporation (DHFL) said its board allotted 5,000 non-convertible unsecured subordinated perpetual bonds in the nature of debentures aggregating to Rs 500 crore on private placement basis. The coupon rate on debentures is 9.85% per annum. The announcement was made after market hours yesterday, 3 August 2017.

Electrosteel Castings said its board at a meeting held yesterday, 3 August 2017, given its approval for setting up of a 9 MVA Submerged Arc Furnace along with 4.5 MW power plant at Haldia, Purba Medinipur, West Bengal. The company intends to use the captive power generated from waste heat from existing manufacturing facility for production of ferro alloys. Surplus production from ferro alloy plant after captive use is proposed to be sold in open market. The estimated amount to be invested is Rs 61.64 crore. The announcement was made after market hours yesterday, 3 August 2017.

JBF Industries informed that domestic plants in India at Sarigam and Silvassa for producing polyester chips, yarns and texturised Yarns are operating in normalcy. The work at the PTA plant in Mangalore is continuing as per schedule and is expected to re-commission within the first half of financial year 2017-2018. This plant is being setup with the latest technology of British Petroleum and will be having a capacity of 1.25 million tons per annum. The company also informed that the board of directors will discuss the sale or restructure or reorganisation of the overseas subsidiaries of the company for the reduction in debt exposure of the company in their meeting to be held on 10 August 2017. The announcement was made after market hours yesterday, 3 August 2017.

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