TCS, Infosys, Dr. Reddy's Lab, Voltas to be watched

TCS: Rajesh Gopinathan, Chief Executive Officer and Managing Director of Tata Consultancy Services (TCS) has tendered his resignation, which will be effective from the close of business hours on 15 September 2023. The Board of Directors appointed K. Krithivasan as the Chief Executive Officer Designate, with effective from 16 March 2023. He shall take over as the Chief Executive Officer and Managing Director of the Company in the next financial year.

Infosys: Infosys Finacle, part of EdgeVerve Systems, a fully owned subsidiary of Infosys and ABN AMRO, a leading financial services provider in the Netherlands, announced the implementation and go-live of the Infosys Finacle Liquidity Management Solution for the bank's corporate customers.

Dr. Reddy's Laboratories: The company along with its subsidiaries announced the signing of a deal to divest certain non-core brands of the company in the dermatology segments to Eris Lifesciences. Under the agreement, Eris Lifesciences will be assigned the trademark of these brands by Dr. Reddy's for a consideration of Rs. 275 crore.

Voltas: Universal MEP Projects & Engineering Services (UMPESL), a 100% subsidiary of Voltas has bagged multiple SITC project orders worth about Rs 1770 crore in the Electrical Power Distribution business for FY 22-23, including a solar power project.

Glenmark Pharmaceuticals: Glenmark Specialty SA, the subsidiary of Glenmark Pharmaceuticals received acceptance from the U.S. Food and Drug Administration (FDA) on its Investigational New Drug application to proceed with a Phase 1/2, first-in-human, clinical study of for the treatment of patients with advanced solid tumors and lymphomas.

Ircon International (IRCON): IRCON has furnished Corporate Guarantee to SBICAP Trustee Company Limited for providing the Term Loan from State Bank of India to IrconHBL, Special Purpose Vehicles (SPVs) & wholly owned subsidiaries of IRCON.

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