Company News

Global mobile ad spends will likely reach $41.9bn by 2017: Gartner

Global mobile ad spends will likely reach $41.9bn by 2017: Gartner

Global mobile advertising market will touch $18 billion next year and reach $41.9 billion by the year of 2017, according to research firm Gartner's fresh estimates.

In its latest report, released on Tuesday, Gartner said that growth in mobile ad spending would slow in the next few years because of faster growth in ad space inventory supply than demand, but improved market conditions would fuel growth from 2015 to 2017.

Hind Zinc shares jump on govt.’s stake sale decision

Hind Zinc shares jump on govt.’s stake sale decision

Stock in Hindustan Zinc Ltd gained as much as 5 per cent in early morning trade on Tuesday, a day after the government approved a stake sale in the company.

The government owns a 29.5 per cent stake in the Hindustan Zinc, which is controlled by billionaire Anil Agarwal Vedanta Resources.

London-listed Vedanta gained the support of its shareholders in October last year to acquire the government's minority stakes in Hindustan Zinc as well as Bharat Aluminium Co for up to $3.48 billion.

Wipro posts highest sequential rise in dollar revenue in 8 quarters

Wipro posts highest sequential rise in dollar revenue in 8 quarters

Indian IT-services exporter Wipro on Friday reported the highest sequential increase in dollar revenue in the last eight quarters, and expressed optimism that its sales would continue to grow in the current quarter.

The country's No. 3 software services exporter reported an increase of 2.9 per cent in dollar revenue to $1,678.4 million for the October-December quarter of 2013. The growth exceeded the lower-end of its forecast of 1.8 per cent to
3.6 per cent for the quarter under review.

TCS slips over 4% on lower-than-expected revenue growth

TCS slips over 4% on lower-than-expected revenue growth

Shares of Tata Consultancy Services (TCS) slipped more than 4 per cent in early trade on Friday after the company reported lower-than-expected for the quarter ended December 31, 2013.

India's biggest outsourcer announced that a quarter-on-quarter increase of 3 per cent in its dollar revenues to $3,438 million for the October-December quarter, lower than analysts' expectation of a rise of 3.5-4 per cent.

Infosys posts better-than-expected quarterly results; shares jump

Infosys posts better-than-expected quarterly results; shares jump

Shares of software services exporter Infosys jumped more than 2 per cent in early trade on Friday after the company posted a better-than-expected results for the December quarter.

Infosys announced that its adjusted net profit jumped 19.4 per cent quarter-on-quarter to Rs 2,875 crore in the October-December quarter of 2013. Sales jumped to Rs 13,026 crore.

A group of analysts had projected the company's net profit and sales at Rs 2,786 crore and Rs 13,063 crore, respectively.

France’s Lactalis acquires Tirumala Milk

France’s Lactalis acquires Tirumala Milk

French dairy giant Groupe Lactalis SA has acquired a 100 per cent stake in Hyderabad, India-based Tirumala Milk Products Private Limited.

Lactalis acquired 80 per cent of the company from its founders and the remaining 20 per cent stake from the Carlyle Group, which had acquired the stake for around $22 million in 2011.

Michel Nalet, a spokesperson for Lactalis confirmed the acquisition, and said that the French company would retain the Indian company's existing management.

Ashok Leyland to launch 18 different types of trucks during 2014

Ashok Leyland to launch 18 different types of trucks during 2014

Hinduja Group's flagship firm Ashok Leyland has announced its plan to launch eighteen different types of trucks during 2014 under the brand name of Captain.

Vinod K. Dasari, managing director of Ashok Leyland, said on Monday that the company had invested nearly Rs 600-700 crore in developing the new range of commercial vehicles. Announcing the Captain series of trucks, Dasari said, "During 2014, we plan to launch 18 different types of trucks for different applications under the Captain range."

Blackstone hikes its stake in MCX to 4.99%

Blackstone hikes its stake in MCX to 4.99%

Private equity giant Blackstone on Monday further increased its stake in Multi Commodity Exchange (MCX) of India by acquiring Merrill Lynch's remaining stake in the exchange.

Blackstone GPV Capital Partners (Mauritius) VI FII Ltd bought 14,22,245 shares from Merrill Lynch at an average price of Rs 573 apiece. In other words, the private equity giant bought 2.79 per cent stake in the exchange from Merrill Lynch.

TCS to create ‘world’s largest’ training center

TCS to create ‘world’s largest’ training center

Indian software services giant Tata Consultancy Services (TCS) has announced that it is setting up the world's largest corporate learning & development center in technopark area of Thiruvananthapuram.

The TCS Learning Campus will be built over 6.1 million square feet, with premises stretching nearly ninety-seven acres. It will have capacity to train 15,000 professionals at one time and 50,000 professionals per annum.

Infosys appoints two presidents of the company

Infosys appoints two presidents of the company

India's second largest software firm, Infosys has said that it has appointed BG Srinivas and UB Pravin Rao as presidents of the company, who will be reporting to chief executive officer and managing director, SD Shibulal.


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