Bangalore, May 6 : India's third largest IT bellwether Wipro Tuesday announced a partnership with the US-based Axiom Software Laboratories to provide a regulatory reporting solution to global financial institutions.
"With Axiom's expertise in regulatory reporting and risk management solutions, we will jointly address challenges faced by the financial services industry, comprising institutions, banks and insurance players," the global software major said in a statement here.
The integrated software solution will also enable financial enterprises to increase transparency, improve data integrity, granularity and traceability for regulatory compliance.
Bangalore, May 5 - South African star Abraham Benjamin de Villiers smashed a brilliant 41-ball 89 not out (8x6, 4x4) to help Royal Challengers Bangalore beat Sunrisers Hyderabad by four wickets and a ball to spare in the IPL-7 match here Sunday.
After Sunrisers, asked to bat first, made 155 for five, thanks to a 62-run partnership between skipper and opener Shikhar Dhawan (37, 36b, 4x4) and David Warner (61, 49b, 4x4, 3x6), de Villiers guided RCB to their third win in six outings with a memorable knock that underlined his status as one of the best T20 batsmen in world cricket.
Bangalore, April 25 : German automotive major Bosch posted Rs. 326 crore net profit for the first quarter (January-March) of this calendar year, registering a healthy 25 percent year-on-year (YoY) growth.
"Our net sales and income from operations during quarter (Q1) under review grew by 11 percent YoY to Rs. 2,431 crore, with diesel systems posting double-digit growth," Bosch managing director Steffen Berns said in a statement here Friday.
Domestic sales increased 8.6 percent YoY while exports grew 35 percent YoY and profit before tax rose 17 percent YoY to Rs. 452 crore.
Bangalore, April 22 : Leading IT products and solutions firm Tata Elxsi reported net profit of Rs. 71.3 crore for the fiscal 2013-14, registering a whopping 239 percent increase year-on-year (YoY) from Rs. 21.3 crore in the last fiscal.
"Consolidate revenue for the fiscal under review (FY 2014) increased 25 percent YoY to Rs. 775 crore from Rs. 622 crore year ago," the city-based company said in a statement here Tuesday.
Bangalore, April 17 : India's third largest software exporter Wipro Ltd has reported net profit of Rs. 2,230 crore for fourth quarter (January-March) of fiscal 2013-14, registering an increase of 41 percent year-on-year (YoY) as per Indian accounting standard.
In a regulatory filing to stock exchanges Thursday, the IT bellwether said revenue for the quarter under review grew 22 percent YoY to Rs. 11,700 crore, as per Indian accounting standard.
Revenue from its flagship IT services business at $1.72 billion was up 8.5 percent YoY and 2.5 percent sequentially.
Bangalore, April 15 - Infosys Ltd posted net profit of Rs. 2,992 crore for fourth quarter (January-March) of this fiscal, registering 25 percent growth year-on-year (YoY) as per the Indian accounting standard.
In a regulatory filing Tuesday, the IT bellwether said consolidate revenue for the quarter (Q4) under review grew 23 percent YoY to Rs. 12,875 crore from Rs. 10,454 crore year ago.
Under the International Financial Reporting Standard (IFRS), net income is up 9.7 percent YoY to $487 million and gross revenue 7.9 percent YoY to $2.1 billion. (IANS)
Bangalore, April 11 : Indian IT bellwether Infosys Ltd. is on lookout for a new chief executive to succeed its incumbent and co-founder S. D. Shibulal, who wants to quit soon.
"The nominations committee of the board of directors has begun the search to select a successor to Shibulal, who expressed his desire to retire as the chief executive and managing director on the date of last board meeting or before his superannuation Jan 9, 2015," the company said in a statement here.
Bangalore, April 10 : Technology firm iGate Corporation posted $32 million net income for first quarter (January-March) of this calendar year (2014), a decline of 8.6 percent year-on-year (YoY) from $35 million registered in the same quarter in 2013.
Sequentially too, net income was lower than posted in fourth quarter (October-December) of 2013 at $33 million.
Bangalore, April 9 - Indo-Japanese joint venture Toyota Kirloskar Motor (TKM) Wednesday said it is recalling 44,989 units of the multi-utility vehicle Innova manufactured between February 2005 and December 2008.
According to the company, the recall has been mandated due to an error discovered in the spiral cable mounted on the steering wheel.
Bangalore, April 4 : Multinational General Electric (GE) Friday unveiled a low-speed turbine to generate wind energy for meeting India's unmet power needs.
"The new turbine (1.7-103) has been developed and engineered specifically for India's low-wind speed conditions. A 100MW wind farm powered by the new version of turbines can produce electricity that can light up 413,000 homes annually," GE South Asia chief executive Banmali Agarwala said in a statement here.
Renewables accounts for five percent of the country's energy mix by production and 12 percent by installed capacity.
Bangalore, April 3 : State-run Hindustan Aeronautics Ltd. (HAL) posted Rs. 15,180 crore sales turnover for the just-concluded fiscal 2013-14, registering a marginal six percent growth over previous fiscal (2012-13) at Rs. 14,324 crore.
"We rolled out 60 aircraft and helicopters, achieved the initial operational clearance for the light combat aircraft (LCA) Tejas fighter and filed 209 patents during the fiscal under review," HAL chairman R. K. Tyagi said in a statement here.
Bangalore, April 3 : The India arm of the $32 billion healthcare and well-being giant Royal Philips Thursday unveiled six innovations in areas ranging from miniature ultrasound system and remote critical care to air purification and lighting that have all been developed within the country for global markets.
Bangalore, April 1 : Indian astrophysicist Abhas Mitra, at the Bhabha Atomic Research Centre (BARC) in Mumbai, who had once challenged the Black Hole theory of Britain's famed Stephen Hawking is in the limelight again.
Mitra's earlier research had claimed that the so-called "Black Holes" must be grey-holes and not exact black holes, and the so-called "Dark Energy" -- a topic of Physics Nobel in 2011 -- must be an artifact rather than a real entity.
His views remain uncontested till now.
Bangalore, March 27 : Hospitality major Hilton Worldwide is expanding its presence in this tech hub by opening its second hotel in the city's upscale eastern suburb Friday.
"As our fourth brand hotel in India, Hilton Bangalore Residences will expand our presence in an important market in the country, which is among our key strategic regions," Hilton Hotels & Resorts global head Rob Palleschi said in a statement here Thursday.
Bangalore, March 26 : LG Electronics Wednesday opened a 4G (fourth generation) Long Term Evolution (LTE) zone in this tech hub to offer high-speed data service for mobile phones, tablets and laptops.
India's leading telecom services provider Airtel and US-based chip maker Qualcomm are partnering with the South Korean electronics major to provide seamless switching between content, connectivity and high speed using the 4G mobile communication technology.
Bangalore, March 25 : Leading healthcare service provider Fortis Healthcare Ltd is expanding its presence in this tech hub with 280 hospital beds, a statement said here Tuesday.
This will include a 70-bed mother and child care facility.
"The 210-bed tower in the city's southern suburb will have a cancer-care facility, with additional operation theatres, a brain suite and intensive care units," Fortis said.
Bangalore, March 25 : Toyota India has hired about 1,000 people on contract to resume production as a stand-off with its trade union continued Tuesday over its employees not signing an undertaking for good conduct before resuming duty.
"As employees are not joining duty even after the eight-day lockout was lifted early Monday, we have taken about 1,000 people on contract to resume production," a company official told IANS Tuesday, citing a statement issued earlier.
Bangalore, March 24 : Brand value of Indian IT bellwether Tata Consulting Services (TCS) zoomed 58 percent this fiscal (2013-14) to $8.2 billion from $5.2 billion the last fiscal with recognition as the world's fastest growing global IT services brand.
According to the London-based brand valuation firm Brand Finance, TCS brand value grew faster than its global peers IBM, whose brand value grew 10 percent year-on-year (YoY) to $41.5 billion from $37.7 percent; HP 23 percent YoY to $19.8 billion from $16.1 billion and Accenture 22 percent YoY to $11 billion from $9 billion.
Bangalore, March 24 - The stand-off between Toyota India and its agitating employees continued as they refused to sign an undertaking for joining duty after eight-day lockout was lifted early Monday.
"As we are against giving or signing any undertaking, none of us has entered the factory for the first shift beginning 6 a. m.," Toyota Kirloskar Motor Ltd. union president Prasanna Kumar told IANS here.
A defiant management has been insisting that the workers should be give an undertaking to abide by rules governing their work ethic and conduct.
Bangalore, March 21 - Toyota India has agreed to lift the lockout in its twin car plants five days after shutting them down over a failed wage hike deal with its employees.
"The decision (to lift lockout) was taken considering the inclination and in the interest of the majority of law-abiding team members," Toyota Kirloskar Motor Ltd said in a statement hours after talks with its workers' union ended in presence of a senior state labour official here late Thursday.
The company, however, has asked the employees to give an undertaking on good conduct before resuming work Monday.