HCL Technologies forms strategic partnership with Callatay & Wouters

HCL Technologies Ltd (HCL), a leading global IT services provider, has entered strategic partnership with Callatay & Wouters (C&W), a leading provider of innovative IT solutions and services to retail, private, and direct banks.

The partnership will be focused on delivering C&W's proven multi-channel core banking solution Thaler, on SAP and z/OS, to retail banks globally. This will provide a centralised, enterprise-level repository for customer information, allowing them to improve customer service, compliance and operational efficiency, while also providing scalability to support business growth.  

The alliance will combine HCL's deep systems integration, product implementation, consulting and support expertise with C&W's multi-channel offering, which can be run as an integrated end-to-end solution to cover the entire range of core-banking activities or on a modular basis to support individual lines of business.

On Thursday, HCL Technologies' shares ended 1.07% up at Rs367 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.59% up at 16,922 points.

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Tata Communications and China Entercom Communications withdraw equity joint venture application

Tata Communications (Hong Kong) Ltd, a wholly-owned indirect subsidiary of Tata Communications Ltd and the shareholders of China Entercom Communications Ltd (CEC) have jointly withdrawn their equity joint venture application with the Chinese government. Both organisations have mutually agreed to terminate the various agreements memorialising Tata Communications' equity investment in CEC.

CEC and Tata Communications will continue with their existing network services co-operation relationship and have also entered a new co-operation agreement whereby Tata Communications and CEC will work together on a commercial basis to allow Tata Communications to benefit from access to CEC's network and assets in China, as Tata Communications continues to focus on this key market.

The companies mutually agreed to withdraw the equity joint venture application due to the uncertainty of whether any regulatory approvals from the Chinese authorities were forthcoming. While the equity joint venture has been called off, the Tata Communications will continue to work with CEC to further their plans in China.Through the co-operation with CEC, Tata Communications will provide virtual private network (VPN) services to the main cities of China.

On Thursday, Tata Communications' shares ended 4.03% up at Rs250 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.59% up at 16,922 points.

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JSW Energy signs MoU with Osho and Indian Ocean Mining

JSW Energy Ltd has entered a memorandum of understanding (MoU) with Osho Venture FZCO, Dubai (Osho) and Indian Ocean Mining (Pty) Ltd, South Africa with an intention to acquire 70% equity interest in Indian Ocean Mining from Osho.

Indian Ocean Mining has certain coal prospecting rights in north west region of South Africa. The aforesaid MoU is part of the strategy to enhance fuel security for which the company is continuously evaluating various strategies and proposals to secure long term imported coat linkages.

The MoU is subject to company carrying out due diligence, execution of definitive agreements and compliance with regulatory requirements.
On Thursday, JSW Energy's shares ended 2.35% up at Rs121 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.59% up at 16,922 points.

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