Wipro Ltd on Monday announced four strategic global business lines as it looks to deepen alignment with clients’ evolving business needs and tap emerging opportunities in high-growth segments of the market. The new model sharpens focus on strategic growth areas of cloud, enterprise technology and business transformation, engineering, and consulting, Wipro said in a release. The changes will be effective from April 1.
As a part of the Leadership Team - Succession Planning, Godrej Industries Limited (GIL) has announced the appointment of Vishal Sharma as the Chief Executive Officer - Designate of GIL-Chemicals Business from March 1. Vishal Sharma will report to Nitin Nabar, Executive Director and President (Chemicals), Godrej Industries Limited. Vishal Sharma is being appointed as a Senior Management Employee (Non-Key Managerial Personnel, Non-Board Member).
Infosys on Monday announced roll-out of private 5G-as-a-Service to accelerate business value for its enterprise clients worldwide. The private 5G-as-a-service delivers a simple and flexible pay-as-you-go solution for clients. Infosys’ wireless 5G expertise and its private network management solution ensure high bandwidth, low latency, and reliable wireless connectivity for enterprises.
Tata Steel has said that it has received approval from Committee of Directors for allotment of 2.15 lakh non-convertible debentures, with 8.03 per cent fixed coupon rate, amounting to ₹2,150 crore for a tenor of 5 years to identified investors on private placement basis. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of the BSE.
The National Stock Exchange has said it would include Zee Entertainment Enterprises Ltd (ZEEL) back into the futures and options segment. This comes after the National Company Law Appellate Tribunal (NCLAT) stayed insolvency proceedings against Zee Entertainment on Friday. The matter pertains to a default of ₹89 crore by Essel Group’s multisystem operator arm Siti Networks claimed by IndusInd Bank, for which ZEEL was a guarantor.
RBL Bank and Export-Import Bank of India (India Exim Bank), have entered into an agreement under the Trade Assistance Programme (TAP), to support cross-border trade transactions. Under the Trade Assistance Programme (TAP), India Exim Bank aims to facilitate and enhance India’s exports globally by providing credit enhancement to trade instruments. With India Exim Bank’s support, RBL Bank can gain footholds in nations, where trade lines are constrained.
The Cabinet Committee on Economic Affairs has given its approval for incurring expenditure on pre-investment activities and various clearances for Dibang multipurpose project in Arunachal Pradesh for ₹1,600 crore. The project is being developed by NHPC and the estimated total cost of project is ₹28,080.35 crore, including IDC & FC of ₹3,974.95 crore at June 2018 price level. The estimated project completion will be nine years from receipt of Government’s approval. This is the largest ever hydro electric projects to be constructed in India.
RITES Ltd, the leading transport infrastructure consultancy and engineering firm, is the consultancy partner for the Shivamogga airport in Karnataka.
Sterlite Technologies has signed a business transfer agreement to transfer its digital business undertaking to its subsidiary STL Digital, as a going concern on a slump sale basis for ₹15 crore, subject to working capital adjustments.
South West Pinnacle Exploration Limited (SWPE), an Integrated Service Provider providing end-to-end Drilling & exploration of Natural resources announced that it has won a new contract from Vedanta Ltd. The Company bagged a contract to undertake surface exploration drilling for mineral, for Vedanta Exploration in the state of Maharashtra, India. The contract, worth ₹16.24 crore, is planned to be completed by March 2024.
Mastek, a digital engineering & cloud transformation partner, and Netail, a new-age and AI-led retail software solutions company announced a strategic partnership to help e-Commerce and Omni-channel retailers optimise their retail value-chain and thereby attract, convert, and retain digital consumers.
Prism Johnson had earlier announced regarding the installation of a new kiln and increase in tile production capacity by 1.2 million square meters p.a. by Sanskar Ceramics Private Limited - a joint venture company. The project has been completed ahead of time, it now informed the exchanges. With this, the total tile production capacity of H & R Johnson (India) Division of the Company (along with the joint ventures) has increased from50 MSM p.a. to 51 MSM p.a.