Global software major Infosys Ltd will offer its flagship Finacle product to service US banks’ Verizon cloud platforms.

“We will offer solutions to US banks and financial institutions through the software-as-a-service (SaaS) model, which is serving 547 million customers worldwide,” the city-based bellwether said in a statement on Friday.

BSE Sensex and NSE Nifty rocked in volatility ahead of Industrial Production data (IIP). The benchmark BSE Sensex gained.

87.74 points up to end at 27,661.40 after a choppy trade. NSE Nifty gained 32.00 points to close at 8,360.55.

Tata Motors today said it has bagged an order for supplying 1,200 multi-axle trucks to the Indian Army.

It is the single largest order awarded to an Indian company in land systems by the Indian army and comprises 1,200 units of high-mobility 6X6 multi-axle trucks, Tata Motors said in a statement.

Microsoft today released the new version of its productivity suite for Mac users with the debut of Office 2016 for Mac. The updated software is first being made available to Office 365 subscribers, the company says – meaning those who have either an Office 365 Home, Personal, Business, Business Premium, E3 or ProPlus subscription. A standalone version will not become available until September, notes Microsoft, and pricing for that option is not yet available.

With an Office 365 subscription, Mac users have a range of pricing plans available depending on their needs. Pricing for home users is $6.99 per month for Office 365 Personal, $9.99 per month for Office 365 Home, and there are also plans available for students who may be able to get Office 2016 for Mac for free or for a significant discount, Microsoft says.

Mumbai: Maruti Suzuki India Ltd will export a premium compact car, which it expects to launch this year, to Japan, competing with Ford Motor Co. to become the first car maker to sell a made-in-India automobile in a first-world market.

The plans to export the car, code-named YRA, were revealed by two people familiar with the matter, speaking on condition of anonymity. A spokesperson for Maruti said in an email that the company would not comment on future plans.

As per the monthly generation data released by CEA (central electricity authority) NTPC saw a 7% y-o-y decline in generation for Q1FY16. NTPC generated 22% of the power generated by all power plants in India during Q1FY16.

Meanwhile, there was a 12% y-o-y increase in generation by the private generation companies post a 20% increase in their generation capacity during Q1FY16. Thus there was a 670 bps y-o-y decline in the plant load factor (PLF) for NTPC coal stations and 400 bps y-o-y decline in PLF for the private thermal stations including both coal as well as gas stations during the same period.

MUMBAI: ICICI Bank may sell its housing finance arm, ICICI Home Finance, to investors such as private equity funds, according to people close to the development. The bank may be expecting a valuation of around $700 million, or Rs 4,400 crore, according to two potential investors who have been approached.

Citibank has the mandate for the transaction, said the people cited. The bank had invited the investment bank to pitch for the mandate three months ago and the decision to appoint Citibank was taken about a fortnight back.

Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked the market regulator to stick to its rules governing related party transactions (RPT). IiAS has slammed the recommendation by the ministry of corporate affairs (MCA) to dilute the Securities and Exchange Board of India (Sebi) rules as an anti-investor move.

The MCA had asked Sebi to align its provisions regarding RPTs with the Companies Act 2013. “IiAS believes Sebi should hold its own. Sebi’s provisions on related party transactions protect minority interest, while MCA has diluted its position to promote the ‘ease of doing business’,” the firm said in a report on Thursday.

In line with its strategy to tap opportunities in the digital space, Wipro on Thursday said it would acquire Designit, a Denmark-based global strategic design firm, for Euro 85 million (Rs 595 crore, or $94 million). The all-cash deal will also have a component of deferred payment, to be payable through the next three years, upon the acquired entity achieving certain milestones.

The acquisition is expected to strengthen Wipro Digital, the company’s digital business unit (set up in March this year).

Tata Consultancy Services (TCS), India’s largest information technology services provider, beat consensus estimates on net profit and margin for the quarter ended June. But revenue growth in dollar terms was below the Street’s estimates.

A major positive was volume growth of 4.8 per cent, which followed disappointing performances on this front in the past few quarters, though it was lower than 5.7 per cent in the first quarter of FY15 and 6.1 per cent in the year-ago period. For TCS, the first half of a financial year is generally stronger from a growth perspective.

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