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 [...]
Depletion of foreign reserves and delay in the resumption of the International Monetary Fund programme affected the Pakistan stock exchange on Monday as it shed nearly 1500 points in intraday trading. The Pakistani currency also lost out against the US dollar which gained flight to sell at 188.05 in the interbank market. Since the cash-strapped [...]
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 [...]
Union Minister Nitin Gadkari on Monday said he was amazed at the response of an IAS officer who attributed the collapse of a portion of an under-construction road bridge in Sultanganj to 'strong winds'. A section of an under-construction road bridge over the Ganga at Sultanganj in Bihar collapsed during a thunderstorm on April 29. [...]
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 [...]
Sri Lankan Airlines on Monday urged passengers to produce their air ticket and passport at checkpoints to reach Bandaranaike International Airport (BIA) after authorities imposed nationwide curfew and deployed the Army in Colombo following clashes between pro- and anti-government protesters amidst the political turmoil in the island nation. "In view of the prevailing situation in [...]
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 [...]
