Ripples in the Technology Sector

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Infosys has announced acquisition of Lodestone Holding, s Switzerland-based global management consultancy firm, for an enterprise value of Rs 1,930 crore in cash. Infosys has also acquired the Voluntary Group Life Insurance business of US-based Marsh BPO.

Software services provider Tech Mahindra has announced the acquisition of a 51% stake in mobile value added services provider Comviva, in which Bharti Airtel has a major stake.

Infiniti Retail Ltd, a wholly-owned subsidiary of Tata Sons, is acquiring Australian retailer Woolworths’ wholesale arm in India for about Rs 200 crore. The acquisition comes in the wake of the Australian firm deciding to exit the specialty consumer electronics category and divest the business in Australia and New Zealand as well, apart from India.

Former Chairman of LIC, S.B. Mathur, has been appointed as the Chairman of National Stock Exchange (NSE). The oversight panel for India’s showcase KG Basin gas field off the Andhra coast has given Reliance industries (RIL) and BP Plc permission to pump over $1 billion into the flagging field, but with a rider that three satellite gas finds would be declared viable only if they drill more wells at their own expense.

Karl Slym, former GM India Managing Director, has taken over as the Managing Director of Tata Motors.

Apple has become the world’s most valuable company, ever. Its surging stock has propelled the company’s value to $623 billion, beating the record for market capitalization set by Microsoft in the heady days of the internet boom.

The National Housing Bank (NHB) has announced the formation of the Indian Mortgage Guarantee Company, a joint venture of the US-based financial security company Genworth, Asian Development Bank and International Finance Corporation. This is the first mortgage guarantee company in India. The company will help mortgage lenders avoid pilling up of bad debts in case of borrower’s default.

Reliance Industries Ltd. (RIL) has repurchased shares...
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