Reliance MF introduces Fixed Horizon Fund - XXVII - Series 5

Reliance MF introduces Fixed Horizon Fund - XXVII - Series 5

Sep 05,2014   09:11 Hrs IST

Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Fixed Horizon Fund - XXVII - Series 5, a close ended income scheme. The NFO opens for subscription on Sep 05, 2014 and closes on Sep 15, 2014.  No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter. The scheme’s performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund manager is Amit Tripathi. The investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of the following securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility - Central and State Government securities and other fixed income/ debt securities.

TCS to double capacity at its Hyderabad delivery centre

TCS to double capacity at its Hyderabad delivery centre

Sep 05,2014   10:02 Hrs IST

Tata Consultancy Services (TCS) is planning to double its capacity at its largest delivery centre in Adibatla in Hyderabad.  The capacity addition of 28,000 employees will happen over a period of three to four years. The new delivery centre commenced its first phase of operations on September 1 and has 27,000 seats and built over an area of 79 acres. Moreover, the company with a headcount of over 3 lakh announced a projection of adding 55,000 employees in FY 2014-15. At present, the company has 26,000 employees across delivery locations in Hyderabad and adds around 3,000 to 3,500 workforce annually. TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

United Breweries completes acquisition of brewery assets of Pacific Spirits

United Breweries completes acquisition of brewery assets of Pacific Spirits

Sep 05,2014   10:07 Hrs IST

United Breweries has concluded the acquisition of the brewery assets viz., land, building, plant, machinery etc. of Pacific Spirits, located at Shahjahanpur, district Alwar, Rajasthan at a negotiated consideration of Rs 105 crore. The company has taken this step pursuant to completion of various formalities with regard to endorsement of statutory licenses in the name of United Breweries. With this acquisition, the company will be able to expand its production capacity in the state of Rajasthan to cater to the expected further growth in the market. Pacific Spirits has not been operational for a while and the company will further invest to make the brewery operational before the coming season. This acquisition will also create additional employment opportunities in the vicinity, upon the brewery becoming operational. United Breweries is maker of Kingfisher beer and Heineken beer in India. Kingfisher is largest selling beer in India that commands 29% of market share. The company has presence in 52 countries.

Wipro rises on winning 5-year strategic infrastructure management contract from PMI

Wipro rises on winning 5-year strategic infrastructure management contract from PMI

Sep 05,2014   09:51 Hrs IST

Wipro is currently trading at Rs. 581.15, up by 4.55 points or 0.79% from its previous closing of Rs. 576.60 on the BSE. The scrip opened at Rs. 580.00 and has touched a high and low of Rs. 584.00 and Rs. 578.75 respectively. So far 25918 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 610.50 on 26-Feb-2014 and a 52 week low of Rs. 447.00 on 16-Sep-2013. Last one week high and low of the scrip stood at Rs. 584.00 and Rs. 559.85 respectively. The current market cap of the company is Rs. 142283.40 crore. The promoters holding in the company stood at 73.44% while Institutions and Non-Institutions held 13.36% and 11.26% respectively. Wipro, a leading global information technology, consulting and business process services organization, has won a contract with Philip Morris International Inc. (PMI). PMI is the leading international tobacco company, with products sold in more than 180 markets. As a part of the five-year agreement, Wipro will provide a full suite of IT infrastructure management services to PMI. The IT infrastructure services will support a host of functions at PMI including management and support of its servers, storage, backup and applications infrastructure. Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.