Tata Consultancy Services said it has entered into a five-year deal with long-time customer and retail chain Marks and Spencer to transform its customer experience and make it a ‘digital first’ business. “TCS will be Marks & Spencer’s principal technology partner and drive agility, intelligence, innovation and efficiency to transform the retailer’s customer experience and […]
Every few months, there is a new rumor surrounding Reliance Jio, the 4G operator that has taken the country by storm. A year ago, it was Jio DTH, which was supposed to put other DTH operators out of business, and now, it’s Jiocoin, which is supposed to put virtual currencies like Bitcoin on notice. According […]
“I won’t be coming here again, I think,” said Infosys co-founder and chairman Nandan Nilekani at the company’s quarterly results press conference, indicating that he may step down from his role at Infosys sooner rather than later. Nilekani faced several questions from journalists about how long he planned to stay in the role of the […]
IT services provider Infosys Ltd said it has largely exhausted the possibility of improving its profit margins by increasing employee utilization levels and will focus on bringing down on-site employee numbers to boost margins. The company reported an employee utilization level of 84.9% for the three months ended December — an all-time record — compared […]
Infosys reported a quarter that was largely in line with expectations and said it retains its full-year revenue growth guidance at 5.5-6.5%, excluding the impact of currency movements. With nine months gone, the company has grown at 5.6% in constant currency terms so far. For the third quarter, revenue in constant currency was up 0.8% […]
The proposed merger between Idea Cellular and Vodafone got the approval of India’s National Company Law Tribunal, with the rider that the merged entity will be liable to pay income tax on behalf of Vodafone India in case of a ruling that Vodafone India has to pay the arrears. “Considering the entire facts and circumstances […]
Tata Consultancy Services said it will take over the policy administration and customer service functions of US insurer Transamerica along with 2,200 of its employees in a $2 bln-plus, multi-year deal. The Indian company will migrate the administration of over 10 mln insurance policies on to its BaNCS platform and provide ‘third party administration’ or […]
Tata Consultancy Services reported a 1.3% improvement in revenue in constant currency terms, which is less than the 1.7% improvement reported in the previous quarter, but largely in line with expectations for a tame quarter. Revenue grew 6.2% on year in constant currency terms. In rupee terms, the company’s revenue was at 30,904 crore; up […]
Hindustan Media Ventures, the publisher of Hindustan daily, reported a 12% jump in net profit for the third quarter due to ongoing cost cutting measures. On a positive note, advertising revenue increased by Rs 8 cr, or 5%, on year during the third quarter to Rs 177 cr. However, the comparison was with a weak […]
Cochin Shipyard Ltd said it will open a new ship-repair facility at Indira Dock of the Mumbai Port Trust. Cochin Shipyard has been in the ship repair business since 1982 and is one of of India’s leading ship-repair companies. “The signing the MoU with Mumbai Port Trust is in line with the company’s objective to […]
The Telecom Regulator’s subscriber addition numbers for November showed that new operator Reliance Jio continued to lead the charts in terms of net subscriber addition, but rivals like Idea Cellular and Vodafone too have come back on the growth path. Part of the reason for the reversal in the fortunes of Idea and Vodafone could […]
Maruti Suzuki, India’s largest carmaker, said it has raised the prices of its models by Rs 1,700 to Rs 17,000. The cheapest models, such as Alto, will see the lowest increase in price and the most expensive models, such as the Vitara Brezza, will see the highest increase. The prices have been raised “owing to […]
The Supreme Court of India has issued notice to the center in a petition questioning the imposition of a prayer to be sung by all students of Central School network or Kendriva Vidyalayas. The petition was filed by Veenayak Shah of Madhya Pradesh. Shah pointed out that the Indian constitution prohibited any school or institution […]
The Tata Motors Group global wholesales in December 2017, including Jaguar Land Rover, rose 23% to 1.17 lakh. In November, it had risen 22% to 1.12 lakh and and by 2.7% to 1.04 lakh in October. Wholesales of commercial vehicles rose 53% in December to 47,182, compared to 51% in November to 40,845. In October, […]
Several foreign banks, including the Bank of China, have sought RBI’s permission to set up operations in the country. Among those who have applied for permission to open a branch or office in the country are three banks from Iran, two from South Korea, one each from Malaysia and Netherlands. Bank of China is one […]
After disrupting the market with its 1GB per day plans, Reliance Jio has unveiled new packs targeted at heavy users. Two new plans have been unveiled today that were not present on the company’s website earlier — a 3GB per day plan priced at Rs 509 and a 5GB daily plan that costs Rs 799. […]
Tata DoCoMo, which recently announced that it was moving its customers to Bharti Airtel’s network before a merger of the two companies, has started offering unlimited calls and daily data. Even though users won’t be able to latch on to Bharti Airtel’s 4G network, they can use its 3G network under an intra-circle roaming agreement. […]
State Bank of Mauritius has become the first foreign entity to receive a license to start a bank in India. The bank, along with DBS of Singapore, had received preliminary approval several months ago. It has now received the final banking license on Dec 6, banking sources confirmed. Mauritius, despite being a tiny Island nation […]
The Securities & Exchange Board of India has tapped Indian Institute of Technology, Bombay to submit a report on the various options to regulate algorithm trading in India. The appointment of IIT Bombay to help with the matter comes in the context of the SEBI’s ongoing consultation with industry and other stakeholders for framing rules […]
Prestige Group, one of Bangalore’s largest real estate developers, said it has inaugurated its Forum Center City Mall in Mysore. The company operates the Forum Mall in Bangalore, one of the city’s oldest and most prominent. The Forum Center in Mysore has 3.2 lakh square feet of leasable area and is situated on Hyder Ali […]
