Cyient posts 18.7% rise in net profit for June qtr at Rs 87 cr

Mid-size IT firm Cyient today posted a 18.7 per cent rise in its June quarter net at Rs 87.8 crore from the Rs 74 crore in the year-ago period.
The Hyderabad-headquartered company's total income rose 8.6 per cent to Rs 907 crore during the reporting quarter, while it reported a fall of 0.29 per cent in operating margin to 12.8 per cent.
The fall in margins was attributed to currency headwinds and wage hikes during the quarter.
Its cash has crossed Rs 1,000 crore, while it opened one centre in Bengaluru to cater to the aerospace customers and began operations in Prague as well for the same sector.

The company scrip closed 1.36 per cent down at Rs 515.60 a piece on the BSE, as against gains of 0.73 per cent on the benchmark.
............................................................. StanC launches product for affluent segment

Mumbai: Foreign lender Standard Chartered Bank today launched a product targeted at the affluent segment where benefits are extended to a customer's family as well.
Its regional head for retail banking in India Shyamal Saxena claimed this a first in class offering where key benefits are extended to a customer's family.
Among other benefits, customers can get complimentary access at lounges at 800 airports, on call assistance from relationship managers, one-year membership with Indian Health Organisation and 25 per cent discount on locker fees.

Having an average monthly average funds under management of Rs 15 lakh or a mortgage loan of over Rs 1 crore will qualify an individual for availing the product, the bank said in a statement.
............................................................ Warburg Pincus invests USD 100 million in CleanMax Solar
Mumbai: Global private equity player Warburg Pincus, has invested USD 100 million in CleanMax Solar to support the solar solutions provider's expansion plans.
CleanMax will use the USD 100 million funds to continue its rapid growth in the rooftop and open access solar power markets in India, the company said in a statement.
The company will continue pursuing growth in select international markets (Middle East and South-East Asia), and growing the nascent energy storage solutions business, it said.