Wipro in focus after securing contract from Valmet

Wipro announced that it has won IT Applications Managed Services engagement with Finnish company, Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper, and energy industries. The announcement was made after market hours yesterday, 14 June 2017.

Valmet has selected Wipro as the partner for supporting its renewed Infor LN ERP platform. As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platforms in a Managed Services model covering all global locations in which Valmet operates.

Repco Home Finance announced that the securities allotment committee of the board of directors of the company approved the allotment of 2,720 secured, redeemable, non-convertible, non-cumulative debentures (SRNCD) aggregating to Rs 272 crore on private placement basis to International Finance Corporation. The announcement was made after market hours yesterday, 14 June 2017.

Corporation Bank has revised the bank's tenor based Marginal Cost of Funds based Lending Rate (MCLR) for all new rupee loans and advances including renewals from 15 June 2017.

MCLR for overnight loans will be 8.15%, the rate for one month will be 8.15% and for three months it will be 8.25%. The MCLR on 6-month loans will be 8.65% and for one-year loans the rate will be 8.75%, the bank said. The announcement was made after market hours yesterday, 14 June 2017.

Central Bank of India said that the Reserve Bank of India (RBI) has put the bank under prompt corrective action in view of high net non performing assets (NPA) and negative return on assets (RoA). The bank believes that corrective measures arising out of the PCA will help in improving overall performance of the bank. The announcement was made after market hours yesterday, 14 June 2017.

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