Tata Consultancy Services
The country’s largest IT services firm has entered into a strategic partnership with Payments Canada to transform its payment system operations and help implement the Real-Time Rail.
The company’s production in FY22 rose 8 percent YoY to 1.2 mt while sales were flat YoY at 1.2 mt. Total turnover in FY22 was up 22 percent YoY at Rs 1,440 crore.
SBI Card and Payment Services
Private equity firm Carlyle Group will sell its entire stake in SBI Cards and Payments Services Ltd for as much as Rs 2,558 crore. CA Rover Holdings, a Carlyle entity, which as of December 2021 quarter, held 29.20 million shares or 3.09 percent stake in SBI Cards will sell its entire stake in the firm, through a block trade. Shares are being offered between Rs 851.50-876, implying around 3 percent discount to the current market price.
The company’s subsidiary Piramal Pharma has acquired a further stake of 5.55 percent in Yapan Bio For Rs 20.35 crore. Its aggregate stake in Yapan is 33.33 percent now.
The private sector lender said net advances of Rs 2.39 lakh crore at the end of March 2022 quarter grew by 13 percent compared to the year-ago period and up 5 percent compared to previous quarter. Deposits increased by 15 percent YoY and 3 percent QoQ to Rs 2.93 lakh crore in Q4FY22.
Max Healthcare Institute
SBI Funds Management acquired more than 1 crore equity shares in the company through open market transactions on March 31. With this, its shareholding in the company stands at 9.22 percent, up from 8.19 percent earlier.
IndiGo has appointed RK Singh as Principal Advisor to Managing Director Rahul Bhatia with immediate effect. Singh, a former IAS officer (1985 – 2009), has worked as an Aviation Law specialist from 2009 onwards.
IRB Infrastructure Developers
The project of an eight-lane Vadodara Kim Expressway in Gujarat under NHDP Phase-VI on Hybrid Annuity Mode implemented by its subsidiary has received a Provisional Certificate from the Competent Authority. The subsidiary received Provisional Certificate after substantial completion of the works in 22.585 km out of 23.740 km of the project highway. Consequently, the SPV is eligible for receipt of Bi-annually annuity payments from NHAI for the operation period of 15 years
Competition Commission of India orders investigation against online food delivery platforms Zomato and Bundl Technologies, the operator of Swiggy, into some of their conduct following a complaint filed by the National Restaurant Association of India that alleged contravention of rules by the two companies.
The company has secured a cloud transformation deal for its NuRe platform, from one of the large commercial banks in the Asia-Pacific region. The deal size is approximately Rs 6.04 crore.