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Friday, March 20, 2015

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Wipro, HCL in race for Sebi's fraud detection system upgrade
As per media reports, Sebi plans a capacity augmentation of its fraud detection system, IT companies like Wipro, HCL, Tech Mahindra and L&T Info tech, have evinced interest in bagging the contract.
This system is used for speedy analysis of trade data to identify possible violations like insider trading, share price manipulation, front running and pump-and-dump scams.

Force Motors promoters hike stake in firm to over 60%
Force Motors announced that a promoter of the company, viz. Jaya Hind Investments, acquired 1 lakh shares of the company from the market on March 13, 2015. The necessary disclosures as per the applicable regulations in respect of these acquisitions of the promoter group have been received.                                                   

Rajya Sabha passes bill to auction mines
The Rajya Sabha passed a bill on Friday to auction mines that supply minerals like iron ore and bauxite for the first time, in a thumbs up for Prime Minister Narendra Modi's bid to kick start an industry that has languished for years. The passage of the Mines and Minerals Development and Regulation bill by the Rajya Sabha was crucial for Modi because the ruling Bharatiya Janata Party ( BJP) lacks a majority in the second chamber.

Tech Mahindra signs strategic agreement with Gao Feng Advisory Company
Tech Mahindra announced that it has signed a strategic agreement with Gao Feng Advisory Company (Gao Feng), a global consultancy company with roots in China. Both the firms will work together to provide services to help their clients in China and worldwide in the area of IoT, enterprise IT, engineering and big data solutions.

Tata Motors dips on recall reports of JLR Vehicles from China
Shares of Tata Motors dipped over 2%, touching to Rs541, on reports the China's quality watchdog has asked the company's British luxury car unit Jaguar Land Rover to recall Range Rover Evoque SUVs for faulty gearboxes. According to reports, the China's quality watchdog has asked Tata Motors' British luxury car unit Jaguar Land Rover ( JLR) to recall Range Rover Evoque SUVs for faulty gearboxes.

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