Page 651 - Business Finance
Bank of Baroda spurts as Govt to infuse capital
Bank of Baroda rose 5.39% to Rs 128.10 at 14:49 IST on BSE after the bank announced capital infusion by the Government of India.
Reliance Communications Ltd leads losers in 'A' group
Sundaram Clayton Ltd, Aarti Industries Ltd, Escorts Ltd and Jet Airways (India) Ltd are among the other losers in the BSE's 'A' group today, 28 March 2019.
Infosys partners with ABN AMRO
To acquire 75% stake in Stater N.V., a wholly owned subsidiary of ABN AMRO Bank N.V.
Subros jumps on expansion in home AC business
Subros rose 4.60% to Rs 261.50 at 14:10 IST on BSE after the company said it will acquire certain assets of Zamil Air Conditioners India.
Infosys to acquire 75 pc stake in ABN AMRO Bank subsi for 127.5 mn euros
India's second largest IT services firm Infosys Thursday said it will acquire 75 per cent stake in ABN AMRO Bank's wholly-owned subsidiary, Stater, for 127.5 million euros (about Rs 989 crore). Both the companies have signed an agreement to this effect. Founded in 1997, Stater provides end-to-end mortgage administration services in the Netherlands, Belgium and Germany. As part of the deal, Infosys will acquire 75 per cent of the shareholding in Stater, while ABN AMRO will continue to hold the remaining 25 per cent, Infosys said in a statement. Infosys said the partnership is in alignment with its strategy to strengthen its mortgage servicing capabilities in Continental Europe. The transaction is expected to close during the first quarter of fiscal 2020, subject to customary closing conditions, it added. "This transaction strengthens our approach to offer clients digital platforms and industry focused solutions. It brings together our complementary capabilities to enhance the value we .
Infosys buys 75% stake in ABN AMRO's mortgage services arm
IT major Infosys said on Thursday that it will acquire 75 per cent of the shareholding in Stater NV, a wholly-owned subsidiary of ABN AMRO Bank, that offers end-to-end mortgage administration services in the Netherlands, Belgium and Germany."This transaction strengthens our approach to offer clients digital platforms and industry focused solutions," said Infosys Presiden Mohit Joshi. "It brings together our complementary capabilities to enhance the value we offer to our financial services clients and enhance our presence in Europe."Stater is a market leader in the Benelux region, operating across the mortgage and consumer lending value chain with capabilities in digital origination, servicing and collection. It services 1.7 million mortgage and insurance loans for about 50 clients in The Netherlands and Belgium.Stater also brings deep European mortgage expertise and a robust digital platform to drive customer experience. Infosys will drive the digital transformation roadmap of Stater .
6 out of 10 Business 4.0 leaders expect double digit growth: TCS Global Study
Nearly 60 per cent of companies globally, which have adopted the full range of business behaviours needed to thrive in a Business 4.0 world, expect to grow over 10 per cent in the next three years, according to a new study that surveyed senior business decision makers from more than 1,200 large enterprises spanning 11 industries and 18 countries.With the rapidly evolving business landscape and increasingly sophisticated customer expectations, businesses face constant challenges to quickly adapt and stay ahead.The TCS global study titled 'Winning in a Business 4.0 World' benchmarks large companies in their growth and transformation journeys by mapping their adoption of four critical business behaviours: driving mass personalisation, creating exponential value, leveraging ecosystems and embracing risk.The study found that almost one in ten (9 per cent) survey participants or leaders have adopted all four behaviours. More than eight out of ten (82 per cent) companies or early adopters ...
Board of JK Lakshmi Cement appoints director
At meeting held on 28 March 2019
Landmark Property Development Company Ltd leads losers in 'B' group
Lloyds Steels Industries Ltd, Astra Microwave Products Ltd, Mohit Industries Ltd and GVK Power & Infrastructure Ltd are among the other losers in the BSE's 'B' group today, 28 March 2019.
Indices extend rally
Strong buying demand in index pivotals propelled the key indices to fresh intraday high in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 377.30 points or 0.99% at 38,510.18. The Nifty 50 index was up 119.15 points or 1.04% at 11,564.20.
RBI's Feb circular worsens Power sector's woes (Part-II)
Private Power producers have pleaded with the Supreme Court that the February 12 circular of the RBI will further accentuate the already existing grave problems afflicting the health of the sector while challenging the validity of the central bank's order.
ACI Infotech Unveils 'ACI-Tech Innovation Labs' in New Jersey, Canada, Hyderabad, Bangalore and Mumbai to Foster Digital Innovation and Transformation for Global Customers and Stakeholders
/ -- ACI Infotech, a global technology services, solutions and platforms company, is focused on transforming clients' businesses and technology to unlock new business opportunities and enhance business outcomes. (Logo: https://mma.prnewswire.com/media/842693/ACI_Infotech_Logo.jpg) Jagannadh Kanumuri, CEO, today announced the launch of ACI-Tech Innovation Labs, a first-of-its-kind R&D incubation centers in New Jersey, Canada, Bangalore, Mumbai and Hyderabad, focusing on innovation, digital-tech accelerators, and custom-built technology solutions. The labs will leverage ACI's rich innovation heritage and deep understanding of the client's industry-specific technology pain points to develop and implement custom tech solutions to bolster digital business transformation journeys for clients. ACI's Innovation Labs help clients to leverage and capitalize on opportunities for digitally enhancing their business processes to drive innovations, increase business agility, and create ...
Vector Consulting Group Continues to Grow With New Recruits From Top B-schools
/ -- Vector Consulting Group, the largest and fastest growing management consulting company in the space of Theory of Constraints (TOC) in India, has recruited from premier institutes like IIMs, XLRI, ISB and S P Jain School of Global Management in the recently concluded placement season for 2019. (Logo: https://mma.prnewswire.com/media/840444/Vector_Logo.jpg) The company has recruited 16 candidates from the Indian Institute of Management Bangalore (IIM BLR), Indian Institute of Management Calcutta (IIMC), Indian Institute of Management Indore (IIM Indore), Xavier School of Management (XLRI), Indian School of Business (ISB), and S P Jain School of Global Management (Dubai) campuses. With the new addition, the team size of Vector will be 140 consultants. Mr. Sachin Jain, Senior Consultant, Vector Consulting Group, said, "We have created a unique, high-performance, stress-free environment. The abnormally low attrition rates are a validation of this culture. I believe, people joining ...
Bank of Baroda to get Rs 5,042 cr capital infusion
Ahead of its merged entity operation, Bank of Baroda will receive Rs 5,042 crore fund infusion from the government.
Spot demand lifts zinc futures by 0.07%
Zinc prices rose by 0.07 per cent to Rs 203.40 per kg in futures trade Thursday, tracking a firm trend at the physical markets on the back of pick up in demand. At the Multi Commodity Exchange, zinc contract for May was trading higher by 15 paise, or 0.07 per cent, at Rs 203.40 per kg with a business turnover of 4,777 lots. Marketmen said widening of positions by participants, following pick up in demand from consuming industries, kept zinc prices higher.
UAE-based firm to open malls in Bengaluru, Chennai
The Abu Dhabi-headquartered Lulu Group has confirmed plans to build shopping malls in Bengaluru and Chennai as part of a major expansion of its interests in India.
Vivek Gupta assumes charge as SAIL director for raw material and logistics
State-owned Steel Authority of India Ltd (SAIL) Thursday said Vivek Gupta has assumed charge as the company's director for raw material and logistics. Gupta assumes the charge at a time when SAIL is ramping up production from all of its new units as part of the modernisation and expansion programme, the company said in a statement Thursday. "Vivek Gupta has taken charge as director (raw material and logistics) of SAIL on March 27, 2019," it said. Gupta, a civil engineer from NIT, Allahabad, joined SAIL in 1980. He also holds diplomas in business management, project management and construction management, it said. "With an experience of working for more than 38 years in SAIL, he has served in IISCO Steel Plant (ISP), Chasnalla Colliery, Project Directorate, VISL and Raw Materials Division as well as in NMDC where he was on deputation," SAIL said.
Copper futures gain 0.02% on positive cues
Tracking positive global cues, copper prices edged higher by 0.02 per cent to Rs 439.35 per kg in futures trade Thursday as participants raised bets. At the Multi Commodity Exchange, copper for delivery in April contracts was up by 10 paise, or 0.02 per cent, to Rs 439.35 per kg in a business turnover of 13,686 lots. Similarly, the metal for delivery in June contracts traded higher by 20 paise, or 0.05 per cent, to Rs 443.10 per kg in 102 lots. A firm trend overseas and pick up in demand in the spot market mainly led to the rise in copper prices in futures trade, analysts said.
Most firms expect double digit growth in next 3 years
Six out 10 companies in the world expect to grow over 10 per cent in the next three years, says a new study from Tata Consultancy Services (TCS).
PE, VC investment in India at USD 20.5 billion in 2018: Report
Private equity (PE) and venture capital (VC) investments in the country stood at USD 20.5 billion across 786 transactions in 2018 on account of tech-enabled start-ups, e-commerce and information technology-enabled services, according to a report by Grant Thornton. The funding in 2018 was the same as the investment in the preceding year, the assurance, tax and advisory firm said. "The top trending themes during the year were revival of start-ups, continued uptick in control deals and larger bets, and increased focus of sovereign wealth funds towards Indian assets. Start-ups accounted for 59 per cent of the total PE investments recorded in 2018 by values and 26 per cent by volume," said Vrinda Mathur, partner, Grant Thornton India LLP. In terms of the size of investments, the sharp increase in the PE and VC funding was due to 47 deals valued at USD 100 million or greater, including six deals worth over USD 500 million. Big-ticket investments were driven by complex deal structures, ...