Wipro: The IT services company and Nokia Corporation have jointly launched a private 5G wireless solution to help enterprises in their digital transformation. The offering will initially be available only to companies operating in the manufacturing, energy, utilities, transportation, and sports entertainment space, Wipro said in a release on Monday. Wipro said the new technology’s speed and security coupled with the AI-driven automation it provides, would help companies improve their operational efficiencies.
Yes Bank: The private lender will look to boost lending to small- and mid-sized companies as it tries to push up its return on assets (RoA), its chief executive officer Prashant Kumar said on Monday, according to reports. “The single agenda (for the bank) is to focus on profitability without doing anything aggressively,” Kumar said in an interview.
Titan: The company’s ethnic wear chain Taneira, which was originally launched as a saree brand in 2017, is broadening its product range to include casual lehengas and low-priced kurtas. The plan is to draw more shoppers and enter smaller markets, said Ambuj Narayan, CEO, Taneira. The retailer is piloting various new collections in stores such as cotton occasion wear as well as more kurtas, priced lower than what it already sells, he added.
Pricol: The manufacturer of instrument clusters has received a showcause notice from the Directorate General of GST Intelligence, Gurugram Zonal Unit, which could lead to a tax demand of ₹380 crore plus interest and penalty. According to an exchange filing, the notice was received “as part of an industry-wide Goods and Services Tax (GST) investigation, concerning classification of instrument clusters”.
Bandhan Bank: Bandhan Financial Holdings, the promoter of Bandhan Bank, has completed the acquisition of digital life insurance company from Aegon India Holding B.V. and Bennett, Coleman & Company, marking a strategic move into the insurance market, Aegon Life Insurance announced on February 26.
Crompton Greaves Consumer Electricals: HDFC Mutual Fund has acquired 13.71 million shares or a 2.14% stake in Crompton Greaves Consumer Electricals, through open market transactions on Friday, said an exchange filing on February 26. Post-acquisition, HDFC Mutual Fund’s stake in Crompton Greaves has increased to 7.11% from 4.97%
Paytm: The company’s founder Vijay Shekhar Sharma has stepped down as non-executive chairman of Paytm Payments Bank as the lender overhauls its board in the face of regulatory strictures. Sharma stepped down to aid the payments bank in the transition, parent company One97 Communications Ltd said in a regulatory filing on Monday.
CMS Info Systems: The promoter of cash management company CMS Info Systems, Sion Investment Holdings, is likely to sell up to 26.7% stake via block deals for ₹1,500 crore, reported CNBC-TV18. The floor price of the deal is said to be worth ₹360 per share at a 9% discount to Monday’s closing price, sources said. IIFL Securities is the sole broker of the deal.
Zee Entertainment Enterprises: Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises, is not cooperating in an investigation into alleged diversion of funds from the media company, the Securities and Exchange Board of India has informed the Securities Appellate Tribunal (SAT) hearing the matter.
