Wipro announced a partnership with industry-leading Standard Initial Margin Model (SIMM) vendor, Quaternion Risk Management. As part of the collaboration, Wipro will offer SIMM-in-a-box to financial institutions covered under Uncleared Margin Rules (UMR).
Axis Bank now proposes to acquire 17.002% of the equity share capital of Max Life Insurance Company, resulting in total ownership of 18% post the transaction. The parties have executed the definitive agreements.
ONGC said its board will meet on September 1 to mull raising Rs 45,000 crore through issue of debt instruments and loans.
Security and Intelligence Services said promoters will sell equity from August 26, 2020 to August 31, 2020 for achieving minimum public shareholding.
IRB Infrastructure Developers reported consolidated net loss of Rs 30.14 crore in Q1 June 2020 as against net profit of Rs 206.62 crore in Q1 June 2019. Total income fell 41.06% to Rs 1,073.46 crore.
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NOCIL reported 63.96% fall in consolidated net profit to Rs 11.95 crore on 49.5% fall in total income to Rs 117.25 crore in Q1 June 2020 over Q1 June 2019.
LIC Housing Finance reported 35.34% rise in consolidated net profit to Rs 824 crore on 3.52% rise in total income to Rs 4,986.01 crore in Q1 June 2020 over Q1 June 2019.
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