Infosys sets up delivery centre in Croatia

India's second largest software services firm Infosys on Monday said it has set up its first office and delivery centre in Karlovac, Croatia.

The new centre will strengthen Infosys' engineering footprint in Eastern Europe. It will meet near-shoring requirements, support engineering clients worldwide, as well as offer R&D services.

"As part of our strategy to increase geo capabilities, the Karlovac delivery centre will deliver value to our global clients, specifically in the Nordics," Infosys President and Deputy COO Ravi Kumar S said in a statement.

The statement did not divulge details on the investment made or number of jobs that will be created.

He added that the focus will be on consolidating consulting, IT and engineering skills in the areas of power generation, design and development of large gas and steam turbines among others.

The Karlovac facility in Croatia is the latest location across 16 regions in Europe.

JM Financial AM approves share buy-back. The board JM Financial Asset Management Limited, a subsidiary of JM Financial Limited, on Monday approved the buy- back of up to 10 per cent of the outstanding equity capital.

JM Financial Ltd informed the BSE that the board of JM Financial Asset Management Ltd at its meeting held today approved the buy-back of 10 per cent of the outstanding equity capital subject to necessary approvals.

Nimesh Kampani led JM Financial provides services such as investment banking, equity, debt, commodity sales and trading.

Shares of JM Financial Ltd on Monday touched fresh 52 week high of 113.50 before closing at Rs 112, up by 4.14 per cent, on BSE.