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TOP CORPORATE NEWS – 30 JAN 2020

Corporate-News

CORPORATE NEWS

Infosys signs a multi-year, multi-million contract with ABN AMRO Bank.

Infosys has signed a multi-year, multi-million contract with ABN AMRO Bank to accelerate its cloud and DevOps transformation journey. As part of this renewed contract, Infosys will enable ABN AMRO Bank to achieve its business and operational goals by aligning its IT transformation with its cloud platform strategy. Leveraging its expertise in cloud and data management services, Infosys will help ABN AMRO Bank to navigate to a single public cloud to deliver agility and cost efficiency in business operations. Infosys will deliver this transformation through agile execution. To build a culture of collaboration, Infosys will train the workforce on Microsoft Azure, and other cloud native tools including the ABN AMRO Bank specific toolset, to facilitate CICD (continuous integration and continuous delivery), with a focus on security and code quality.

LIC Housing Finance’s Q3 profit at Rs597.5cr.

LIC Housing Finance posted a net profit of Rs597.5cr in Q3FY20 as against Rs596.3cr in Q3FY19. NII stood at Rs1,253.7cr, up 15.6% in Q3FY20 as compared to Rs1,084.5cr.

Dabur India’s cons. net profit grows 8.7% yoy to Rs397cr in Q3.

Dabur India Ltd. on Thursday released financial results of the company for the quarter ended December 31st, 2019.
Dabur India Ltd. effectively managed the risks and mitigated the impact of macro-economic headwinds to deliver a strong performance during the quarter ended December 31, 2019. Dabur reported a 7% jump in revenue and a 10.7% yoy growth in operating margin during the third quarter of FY20.

Colgate’s net profit rises 9% at Rs199.1cr in Q3FY20.

Colgate-Palmolive (India) Limited reported a net profit after tax for the quarter at Rs199.1cr in Q3FY20 as against the net profit of Rs192.1cr for the same quarter of the previous year. Excluding the impact of prior-year tax reversals in the previous year, the net profit after tax has increased by 9% in the current year. The net sales of Rs1, 136cr for the quarter ended December 31, 2019, saw an increase of 4.1% over the same quarter of the previous year with volume growth at 2.3%.

RBI imposes monetary penalty on HDFC Bank.

The Reserve Bank of India (RBI) on Wednesday said that it has imposed a monetary penalty of Rs1cr on HDFC Bank for non-compliance with Master Direction on Know Your Customer dated February 25, 2016 (updated as on December 08, 2016) (Direction). The penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid direction issued by RBI, the RBI said in the release.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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