Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions company announced after market hours yesterday, 9 June 2015, the launch of TCS BaNCS Digital, a solution designed specifically for financial institutions in North America. US-based banks can now use TCS BaNCS Digital to deliver an intuitive, interactive and insightful customer experience. TCS BaNCS Digital also allows seamless integration of various stakeholders in the financial supply chain and its ecosystem, TCS said in astatement.
TCS BaNCS Digital is a modern banking platform enabling convenient, insightful and Any Place Banking to customers at large across segments, be it individuals, corporations, SMEs, or the affluent. The solution is conceptualized as a series of secure enterprise and consumer apps that can be highly personalized and white-labeled. The embedded Digital Insights Layer enables integration to the existing core systems, as well as to the external social world, providing complete information at the hands of client's (e.g., convenience and control). The technology can be deployed on top of existing core banking infrastructure, launched as a new digital bank or as a mobile only bank.
ICICI Bank announced after market hours yesterday, 9 June 2015, that its board approved the appointment of M. K. Sharma as the non-executive Chairman of the Board for a period of five years, in place of K. V. Kamath who would shortly step down from the board consequent to his nomination as the first President of the New Development Bank being established by the BRICS nations. The appointment of the new non-executive Chairman is subject to the prior approval of Reserve Bank of India (RBI) and would be effective 1 July 2015 or the date of receipt of RBI approval, whichever is later.
M. K. Sharma was formerly the Vice Chairman of Hindustan Unilever. He is an independent director of several leading companies and has been a member of Government committees relating to corporate law and corporate governance. He was an independent Director on the board of ICICI Bank for eight years from 2003 to 2011. He is currently an independent Director of two subsidiaries of the Bank, ICICI Lombard General Insurance Company and ICICI Prudential Asset Management Company. The Board felt that Mr. Sharma's long experience & expertise in legal & corporate governance matters as well as companies in diverse businesses would prove invaluable in providing guidance & leadership to the Board, and his long association with the ICICI Group would provide stability & continuity.
Sun Pharma Advanced Research Company (SPARC) and Sun Pharmaceutical Industries announced before market hours that SPARC has licensed out Xelpros (Latanoprost BAK-free eye drops) to a subsidiary of Sun Pharma for the US market.
In addition to up-front payment of $3 million, SPARC will receive certain other milestone payments, both totaling to $16 million from Sun Pharma. It is also eligible for certain defined royalties and additional milestone payments linked to the actual sales performance of Xelpros.
In December 2014, the US FDA had issued a Complete Response letter (CRL) to SPARC for its New Drug Application (NDA) for Latanoprost BAK-free eye drops. This CRL has since been replied to and a response from the US FDA is awaited.
Bosch announced after market hours yesterday, 9 June 2015, that the Bosch Group plans to seek a partner for a joint venture or a buyer for its starter motors and generators division. The company is convinced that this can further improve the division's growth prospects in a market characterized by tough competition and cost pressure.
DLF announced after market hours yesterday, 9 June 2015, that its subsidiary, DLF Utilities has entered into definitive agreements to sell its cinema exhibition business operated under the brand name of "DT Cinemas", to PVR, on a slump sale basis for an aggregate consideration of Rs 500 crore approximately. The proposed transaction will be subject to approval of applicable statutory and regulatory approvals and satisfaction of customary conditions precedent.
Separately, PVR announced after market hours yesterday, 9 June 2015, that its board has approved acquisition of the cinema exhibition business of DLF Utilities. Accordingly, PVR executed definitive agreements with DLF Utilities to acquire its cinema exhibition business, which is operated under the brand name of "DT Cinemas", on slump sale basis for an aggregate consideration of Rs 500 (five hundred) crore approximately.
DT Cinemas currently operates 29 screens with approximately 6,000 seats across 8 properties in the National Capital Region and Chandigarh. In the next 12 months, DT proposes to add 10 new screens at two properties in the National Capital Region. Currently, PVR has 467 screens across 105 locations in 43 cities. As a result of the proposed acquisition, PVR will have a presence in 44 cities with 115 multiplexes and 506 screens.
The proposed transaction will be subject to approval of applicable statutory and regulatory approvals and satisfaction of customary conditions precedent.
Cadila Healthcare announced after market hours yesterday, 9 June 2015, that its board decided to delist equity shares of the company from Ahmedabad Stock Exchange (ASE), in view of non-trading of Equity Shares of the Company on ASE since last so many years. Shares of the company will continue to be listed in BSE and NSE even after delisting with ASE.
Multi Commodity Exchange of India (MCX) will be watched. With respect to news titled "Metropolitan Stock Exchange's warrants likely to expire by itself on June 19 due to lack of buyers," MCX clarified after market hours yesterday, 9 June 2015, that the provision to Rule 16 (2) of Securities Contracts (Regulation) (Stock Exchanges And Clearing Corporations) Regulations, 2012 states that "Provided that any equity or rights over equity, arising from such instruments in excess of limit of shareholding specified in the regulations (20 June 2012), shall be reduced to the specified limit within a period as may be decided by the Board, which may extend upto three years from the date of such commencement". The said period expires on 19 June 2015. The company's request for extension of time as well as to retain 15% shareholding as applicable in case of a stock exchange has not been acceded to by Securities and Exchange Board of India, the company said.
PNC Infratech announced after market hours yesterday, 9 June 2015, that it was declared the lowest bidder for the project of resurfacing/strengthening of runway at Air Force Station, Kanpur for a total contract cost of Rs 167.25 crore. In response to the bids invited by Military Engineering Services, Government of India, three firms including PNC Infratech submitted their bids on 1 June 2015. The price bids were opened on Monday, 8 June 2015, with PNC's bid being the lowest.
GlaxoSmithkline Consumer Healthcare will be watched. With respect to news titled "FSSAI orders testing of GSK, ITC fast food brands," GlaxoSmithkline Consumer Healthcare clarified after market hours yesterday, 9 June 2015, that the company has not received any communication from FSSAI Authorities regarding our brand Foodles. The company said it will provide all support to the authorities and ensure that it remain in complete compliance with the law.
United Bank of India announced after market hours yesterday, 9 June 2015, that the bank has reduced its base rate from 10% to 9.9% from 19 June 2015.
Talwalkars Better Value Fitness ('Talwalkars') and UK-based David Lloyd Leisure ('David Lloyd Leisure' or 'the Group'), announced after market hours yesterday, 9 June 2015, their intention, subject to formal documentation between the parties and necessary statutory approvals, to create a joint venture establishing and managing leisure clubs in India. Under the agreement, Talwalkars and David Lloyd Leisure envisage developing seven to ten clubs across a number of cities in India over the next five to seven years. The agreement would involve a total investment in excess of Rs 500 crore in a strategy aimed at tapping into the country's growing demand for sports and leisure facilities.
A site for the first club in India has already been acquired in Pune, in the state of Maharashtra, with plans for construction already drawn up. Construction is expected to begin shortly and it is anticipated that the club will open to members, by invitation, by the middle of next year. The project will involve a total investment of approximately Rs 75 crore.
UK-based David Lloyd Leisure is Europe's leading premium health, sports and leisure group. It has a unique sporting heritage and is renowned for its unrivalled facilities, services and expertise.
Manaksia announced after market hours yesterday, 9 June 2015, that Sanjay Kumar Singhania, Chief Financial Officer of the company has resigned from the services of the company and his resignation has been accepted with immediate effect.
Oriental Bank of Commerce turns ex-dividend today, 10 June 2015, for interim dividend of Rs 3.30 per share for the year ended 31 March 2015.
Polaris Consulting & Services turns ex-dividend today, 10 June 2015, for final dividend of Rs 10 per share for the year ended 31 March 2015.
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