Trident Limited issues CPs for Rs50cr; stock settles higher
Wed, Dec 2, 2020 4:57 PM

Trident Limited issues CPs for Rs50cr; stock settles higher

Trident Limited informed the exchanges on Wednesday that in accordance with the guidelines issued by the RBI, the company has issued commercial papers. The size of the issue stands at Rs50cr, which has been carved out of working capital limits, said the company. It further added that the securities will be listed on BSE Limited.

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Wipro to deliver agile customer engineering services to Verifone Inc
Wed, Dec 2, 2020 4:55 PM

Wipro to deliver agile customer engineering services to Verifone Inc

Wipro Limited today announced that it has won a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. Wipro will develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company.

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China's Ant considers Paytm stake sale amid tensions with India: Sources
Wed, Dec 2, 2020 4:34 PM

China's Ant considers Paytm stake sale amid tensions with India: Sources

Chinese fintech giant Ant Group is considering selling its 30% stake in Paytm amid tensions between the two Asian neighbours and a toughening competitive landscape, people with direct knowledge of the matter said. Financial details of the possible transaction have not been firmed up and Ant, the Alibaba-backed payments-to-consumer credit behemoth, has not started any formal sale process yet.

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Fake news alert: No, Finance Ministry has not approved 24% hike in DA
Wed, Dec 2, 2020 4:30 PM

Fake news alert: No, Finance Ministry has not approved 24% hike in DA

Amid the reports of Union Ministry of Finance allowing 24 percent Dearness Allowance (DA) hike being circulated in the social media, the Central government has denied the claim and called the image morphed. According to the claim on social media, the Central government has not only approved a 24 percent DA hike but also decided to provide the arrears.

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ICRA reaffirms credit rating of Karur Vysya Bank at ICRA A1+
Wed, Dec 2, 2020 4:27 PM

ICRA reaffirms credit rating of Karur Vysya Bank at ICRA A1+

Credit rating agency ICRA Limited has reaffirmed the credit rating on Certificate of Deposit Programme of Karur Vysya Bank at ICRA A1+ on December 2, 2020. “Instruments with this rating are considered to have very nice strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk,” company said as per ICRA rating schedule.

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Route Mobile shares surge to new high
Wed, Dec 2, 2020 3:37 PM

Route Mobile shares surge to new high

Route Mobile shares today surged as much as 5% to hit a new high of ₹1,162 as the stock continued to clock handsome gains since its listing in September. In late trade, Route Mobile shares however pared some gains and were trading nearly 2% higher. A cloud communications platform service provider, Route Mobile's clientele includes enterprises, OTT players, and mobile network operators.

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Infosys partners Rolls-Royce for aerospace engineering in India
Wed, Dec 2, 2020 3:21 PM

Infosys partners Rolls-Royce for aerospace engineering in India

Infosys Ltd has entered into a partnership with Rolls-Royce, an aerospace and defence technology company, under which the latter will transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to the IT services firm. Leveraging its expertise in core engineering services, Infosys will provide a full range of high-end engineering and R&D services.

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NSE launches its first agricultural commodity futures contract
Wed, Dec 2, 2020 3:09 PM

NSE launches its first agricultural commodity futures contract

NSE said on Wednesday it launched its first agricultural commodity futures contract on crude degummed soybean oil (CDSO Futures) on December 1. The CDSO Futures contract is a monthly expiry futures contract with a trading lot size of 10 metric ton (MT) and price basis as Kandla. The exchange said the first trade was executed by ‘East India Securities Ltd’ and ‘M/s Budge Budge Refineries Ltd’.

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Bharti Airtel ups stake in Infratel by nearly 5%
Wed, Dec 2, 2020 2:57 PM

Bharti Airtel ups stake in Infratel by nearly 5%

Bharti Airtel, on Thursday bought an additional 4.9 per cent stake in its tower arm Bharti Infratel via open market block deals, paying anywhere between Rs 3,150-3,300 crore, sources said. Bharti Infratel has recently merged with Indus Towers, making it among the largest telecom tower companies in the world. Prior to the acquisition, Bharti Airtel held 36.7 per cent stake in the tower arm.

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BPCL receives three preliminary bids, says Oil Minister Dharmendra Pradhan
Wed, Dec 2, 2020 2:55 PM

BPCL receives three preliminary bids, says Oil Minister Dharmendra Pradhan

The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL.

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Exxon Mobil in talks to buy stake in Indian oil, gas fields: Pradhan
Wed, Dec 2, 2020 2:52 PM

Exxon Mobil in talks to buy stake in Indian oil, gas fields: Pradhan

Exxon Mobil is in talks to buy a stake in producing oil and gas fields in India, Oil Minister Dharmendra Pradhan said on Wednesday. Speaking at a webinar series on 'The Road To Atmanirbhar Bharat' organised by Swarajya Magazine, he said India is looking to replicate the Texas model of raising domestic oil and gas production by involving small and mid-sized companies in exploration and production.

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Maruti Suzuki sees ‘much better’ 2021 as economy rebounds
Wed, Dec 2, 2020 2:49 PM

Maruti Suzuki sees ‘much better’ 2021 as economy rebounds

India’s biggest carmaker is expecting next year to be “much better" than 2020 as the economy rebounds and consumers emerge from pandemic-induced lockdowns to buy its vehicles. Maruti Suzuki India Ltd., the local unit of Japan’s Suzuki Motor Corp., is expecting retail sales in December to be “pretty good" as there are pending orders with its dealerships and the rate of enquiries has sustained ev...

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Salesforce to buy software maker Slack for $27.7 billion
Wed, Dec 2, 2020 1:05 PM

Salesforce to buy software maker Slack for $27.7 billion

Salesforce.com Inc. agreed to buy Slack Technologies Inc. for $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals of the year. The transaction, Salesforce’s largest-ever acquisition, is expected to close by the end of July, the San Francisco-based company said Tuesday in a statement.

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PNB introduces loan management solution to speed up delivery
Wed, Dec 2, 2020 12:58 PM

PNB introduces loan management solution to speed up delivery

To speed up and maintain accuracy in online loan processing and sanctioning of credit proposals, Punjab National Bank introduced 'LenS' which is a tech-based loan management solution. PNB said in a statement, "After the merger, it was paramount to have a stringent loan management solution, which can be used for activities related to lead capturing, loan appraisal, sanction, and documentation".

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NCC share price rises on bagging Rs 3,905-crore orders
Wed, Dec 2, 2020 12:55 PM

NCC share price rises on bagging Rs 3,905-crore orders

NCC share price gained during intraday trade on December 2 after the company bagged four orders worth Rs 3,905 crore in November. The company got a Rs 848-crore order from the water division and the remaining three from the building division. These orders were from Central and state government agencies and didn't include internal orders, the company said in an exchange filing.

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