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Wipro to keep things simple, says COO Neemuchwala
Posted on 19th August 2015
Bengaluru: Wipro Ltd’s chief operating officer Abid Ali Neemuchwala is implementing a back-to-basics strategy that includes simplifying processes and finding ways to sell more to clients as pressure builds on the top executives at India’s third-largest software services company to deliver faster growth.

“What we are doing is making many or our internal processes simple,” Neemuchwala, who joined as chief operating officer of the Azim Premji-controlled company in April, said in an interview on Tuesday.


Google launches Wi-Fi router ‘OnHub’ for home use
Posted on 19th August 2015
Google Inc launched a Wi-Fi router on Tuesday, the latest move in the company’s efforts to get ready for the connected home and draw more users to its services.

The cylinder-shaped router, named OnHub, can be pre-ordered for $199.99 at online retailers including the Google Store, Amazon.com Inc and Walmart.com.


Sensex extends losses, down 110 points in early trade
Posted on 19th August 2015
The BSE Sensex today declined by over 110 points in early trade due to selling by funds and retail investors amid weak global trends.

The 30-share barometer, which lost 235.77 points in the previous two sessions, fell further by 110.29 points, or 0.39%, to 27,721.25.


IndianOil set to exceed 12th Plan capex of Rs 56,200 crore
Posted on 19th August 2015
IndianOil Corporation (IOC), the nation’s largest fuel retailer, is set to exceed its capital expenditure target of Rs 56,200 crore for the 12th Five-Year Plan. The company has already spent Rs 40,353 crore to ramp up capacity. With both petrol and diesel prices freed and the implementation of cash transfers to curb the cooking gas subsidy, IOC has a capital expenditure target of Rs 10,540 crore for 2015-16. “We have two years to go for the plan to be over. We will probably exceed the 12th Plan target,” Chairman and Managing Director B Ashok told Business Standard.

Infosys gains on order from African bank
Posted on 19th August 2015
Shares of IT major Infosys were up nearly 1% after the company announced that it has received an order from Fidelity Bank Plc., Nigeria.

Infosys Finacle, part of the EdgeVerve Systems, a product subsidiary of Infosys announced that Fidelity Bank Plc., Nigeria will migrare its core banking platform from Finacle version 7 to version 10, the company said in a release.


SBI to keep associate bank consolidation plans on hold
Posted on 19th August 2015
State Bank of India (SBI) will keep the process of merging its associate banks on hold for some time to come as the country’s largest lender deals with upcoming competition from new banks and transition to the digital platform.

"Even if we merge them inside, my balance sheet will not go up, the group balance sheet remains the same (on consolidated basis). And therefore, the valuation I get will almost remain the same," SBI Chairman Arundhati Bhattacharya said on the sidelines of the launch of SBI's mobile wallet.


CIL's e-auction sales at 12% of first quarter's
Posted on 19th August 2015
Coal India Ltd (CIL)'s e-auction sales in the first quarter of the current financial year has once again reached 16 million tonnes (mt), which is over 12 per cent of its April-June quarter's total offtake. The trend is likely to continue throughout the financial year and the miner might register record e-auction sales in the current year.

CIL recorded an offtake of 129.39 mt in the first quarter of 2015-16, registering an 8 per cent growth. Production in the first three months of the current financial year increased by 12 per cent at 121.35 million tonnes (mt) as against 108.32 mt in the same period last year.


Irrational exuberance at Bank of Baroda
Posted on 18th August 2015
Bank of Baroda Ltd shares rallied 15.15% on Monday after the government said it will appoint two prominent private sector professionals to lead the bank, apart from announcing Indradhanush, a seven-step revamp plan for state-owned banks.

The seven-step strategy is mostly a repackaging of various announcements on capitalization, bank board bureau and other pronouncements made by the government earlier.


ICICI Bank launches India’s first robotic locker facility
Posted on 18th August 2015
New Delhi: ICICI Bank Ltd on Tuesday launched India’s first automated locker for customers in New Delhi.

The 24×7 vault facility will work on robotic technology without the need of human assistance, unlike traditional vaults.


CBSE may make Class X board exams compulsory again
Posted on 18th August 2015
New Delhi: The central government may end the so-called no-detention policy, introduced under the Right to Education Act, in a phased manner and may look at making it compulsory for school students to take Class X board examinations in Central Board of Secondary Education (CBSE) schools.

The human resource development (HRD) ministry will discuss the two issues with state education ministers, experts and academicians at the Central Advisory Board of Education (CABE) meeting scheduled on Wednesday.


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