State-owned Shipping Corporation of India on Monday said its board has approved certain modifications in the scheme of arrangement for demerger of the company's non-core assets into Shipping Corporation of India Land and Assets Ltd. As part of the strategic sale process, the government is hiving off Shipping House, training institute and some other non-core [...]
Shares of Mindtree and L&T Infotech declined on Monday after the announcement of the merger of the two companies to create the country's sixth latgest IT company. Shares of Mindtree tumbled 5.30 per cent to end at Rs 3,195.65 on the BSE. During the day, the stock tanked 5.88 per cent to Rs 3,176. L&T [...]
State-owned Coal India Ltd has spent more than Rs 1,600 crore on corporate social responsibility projects in the last three years, a company release said. The mandated target for expenditure on CSR by Coal India (CIL) during the last three years was Rs 1,284 crore. "During the last three years, CIL has spent more than [...]
HCL Technologies UK, a subsidiary of IT services company HCL Technologies, has signed a definitive pact for acquisition of Switzerland-based Confinale, a digital banking and wealth management consulting specialist. With this strategic acquisition, HCL will expand its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities, it said [...]
The Railways Ministry and the Centre for Development of Telematics (C-DOT) have signed an MoU for developing local digital solutions for railways to reduce its dependence on foreign technology, a top official of the DoT's research unit said on Monday. Under the agreement, C-DoT is expected to replace over Rs 2,100 crore of foreign technology [...]
Joining its peers that have raised lending rates after the surprise tightening of the monetary policy by the RBI, the country's largest private sector lender HDFC Bank has also upped rates on its offerings by 0.25 per cent. The bank has hiked the marginal cost of funding based lending rate (MCLR) by 0.25 per cent [...]
ALCOR CB M&A closes a JV transaction between European Company Autometal and Dewas Hydoquip India to bring in the “State of the Art” Technology for Emission Control Systems to India and Asian Markets. Autometal, a European company is bringing in the latest technology for emission control by partnering with an Indian company Dewas Hydroquip from [...]
Mutual funds focused on investing in fixed-income securities saw an outflow of Rs 1.2 crore in the March 2022 quarter on massive withdrawal from segments, such as liquid, short duration, and corporate bond funds, a report by Morningstar India said on Monday. This has taken the net outflow from the category to Rs 68,471 crore [...]
Reliance Brands Ltd (RBL) on Monday said it has entered into a long-term franchise agreement with Tod’s SpA to become the official retailer of the Italian luxury lifestyle brand for the Indian market. As per the agreement, RBL is the official retailer of the brand across all categories, including footwear, handbags and accessories in the [...]
Gurugram, Haryana, India – Business Wire India Premas Biotech today announced the appointment of Saumen Chakraborty to the Premas Biotech Board of Directors, effective April 29 2022. “We are pleased to welcome Saumen Chakraborty to the Premas Biotech Board,” said Mr Avijit Das, Founder Chairman, Premas Biotech. “Saumen’s deep experience in global Pharma businesses with [...]