State-run power equipment major Bharat Heavy Electricals (Bhel) unveils Q2 September 2013 results today, 6 November 2013.
ABB, Ashok Leyland, GlaxoSmithKline Consumer Healthcare, Indraprastha Gas, Parsvnath Developers, SJVN, Sobha Developers, State Bank of Mysore, Thermax and Voltas announce their quarter ended 30 September 2013 results today, 6 November 2013.
State Bank of India before market hours today, 6 November 2013 said it has revised upwards the base rate by 20 basis points (bps) from 9.80% per annum (pa) to 10% pa and benchmark prime lending rate by 20 bps from 14.55% pa to 14.75% pa with effect from 7 November 2013.
HDFC Bank has increased its minimum lending rate, or the base rate, by 20 basis points (bps) to 10%, effective 2 November 2013. Meanwhile, HDFC Bank cut its deposit rates in short-term maturities ranging from 46 days to six months by 25 bps to 8.25%.
Bharti Airtel's MD and CEO (International) Manoj Kohli sold 50,000 shares in the company for Rs 1.81 crore in the open market on 1 November 2013 on NSE.
IT stocks will be in demand after IT services firm Cognizant Technology Solutions Corp. raised its full-year forecast for both profit and revenue for the second time this year and said it expected clients to boost discretionary spending. The company said it expects earnings of at least $4.01 per share on revenue growth of at least 20.3% to $8.84 billion. It had previously forecast earnings of at least $3.96 per share on revenue growth of at least 19% to $8.74 billion. Cognizant Technology Solutions Corp, reported a better-than-expected 22% rise in revenue in third quarter, helped by contracts from insurers setting up online exchanges as part of President Barack Obama's healthcare reforms. The company's net income rose to $319.6 million, or $1.05 per share in the third quarter, from $276.9 million, or 91 cents per share, a year earlier.
Tata Consultancy Services (TCS) announced after market hours on Tuesday, 5 November 2013, that Zions Bancorporation, one of America's premier financial services companies, has chosen TCS BaNCS for its core banking transformation program to achieve standardization, centralization and straight through processing across the enterprise. In addition to the cost saving benefits, the ability to have a single, 360 degree view of its end-user customers is a key focus of the core replacement program.
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The depth of TCS BaNCS' capabilities, its implementation track record and overall quality of banking and technology experts were among the major factors that influenced this selection by Zions Bancorporation, which consists of a collection of great banks in select Western U.S. markets with combined total assets exceeding $50 billion. The transformation will be completed in phases, with Zions' management expecting significant improvements in operational efficiency and customer experience, and reduced operational and financial risk stemming from older legacy systems.
"TCS' demonstrated commitment and focus during the engagement process and earnestly showed us how we could leverage TCS BaNCS technology to achieve our objectives," said Joe Reilly, CIO of Zions Bancorporation. "The flexibility of the solution and speed of deployment were key criteria in our selection process. The modular components and multi-entity capability of TCS BaNCS tightly fits into our technology landscape."
"We are delighted that Zions Bancorporation has chosen TCS as technology partner to transform their enterprise," said N Ganapathy Subramaniam, President of TCS Financial Solutions. "We are taking the model bank approach to translate Zions Bancorporation's vision into a reality. By deploying TCS BaNCS, they can streamline and standardise their entire suite of products from both the bank's and the customer's point of view in the United States."
Telecom stocks will be in focus on reports that Telecom Commission, the highest decision making body of the Department of Telecommunications (DoT), is likely to discuss key issues, including spectrum price for the third round of auction and merger and acquisition guidelines, in a meeting today, 6 November 2013.
Colgate-Palmolive (India) turns ex-dividend today, 6 November 2013, for first interim dividend of Rs 9 per share for the year ending 31 March 2014.
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