The IT services company on Wednesday said it has bagged an IT outsourcing contract worth around $300 million (around Rs 2, 200 crore) from ICICI Bank under which it would provide a comprehensive suite of services to the lender.
Global rating agency Moody's on September 4 upgraded the outlook on Punjab National Bank (PNB), which will merge OBC and United Bank of India with itself, to 'positive' from 'stable'.
Reliance Industries (RIL):
The company's telecom arm Reliance Jio is slated to launch optic fibre-based Jio Fibre broadband service today. Jio is targeting 35 million subscribers within the first year of commercially operationalising the broadband business. READ MORE
Banks, Jet Airways:
Creditors of India's bankrupt Jet Airways are likely to recover less than 10% of the carrier's total outstanding dues in a liquidation scenario if no suitor succeeds in buying the airline, Reuters reported. That apart, the resolution professional (RP) of Jet Airways has shortlisted South America-based Synergy Group and Russian fund RA Treasury from the three expressions of interest (EoI) that were submitted for the revival of the defunct airline, Business Standard
Shankara Building: India Ratings and Research (Ind-Ra) has downgraded Shankara Building's (SBPL) long-term issuer Rating to ‘IND A-’ from ‘IND A’. The outlook is Stable.
has settled a case pertaining to ‘selective disclosure’ of assets quality with market regulator Securities and Exchange Board of India (Sebi). The private sector lender settled the matter under the so-called consent mechanism paying Rs 51.6 lakh as settlement charges. READ MORE
has entered into a strategic tie up with Standard Chartered Bank, which will provide the bank's customers access to the insurer's portfolio of comprehensive protection solutions.
Power Grid Corporation
has been declared as the successful bidder to establish transmission system for Intra-State Transmission Work associated with construction of 400 kV Substation near Guna, Madhya Pradesh).
The company's production of iron ore slipped over 3 per cent to 1.41 million tonnes against 1.46 million tonnes in the year-ago period.