TCS, Power Grid Corporation and Shriram City Union Finance to see some action today

Tata Consultancy Services (TCS) has expanded its strategic partnership with Star Alliance, the world’s largest airline alliance, to provide predictive and real-time business analytics, improve its customers’ overall experience and accelerate its digital transformation journey. The company’s strategic partnership with Star Alliance spans over 15 years and multiple geographies.

Power Grid Corporation of India has signed memorandum of understanding (MoU) with the Sanjay Gandhi Post Graduate Institute of Medical Sciences (SGPGIMS) for setting up tele-ICUs in Uttar Pradesh. Telemedicine Intensive Care Units (tele-ICUs) are 24x7 remote ICU patient monitoring systems aided by real-time two-way audio-visual communication and alert system. Compared to ICU, tele-ICUs can help in enhancing public health services at a much lesser cost.

Shriram City Union Finance has received an approval for the issuance of non-convertible debentures (NCDs) for an amount of Rs 100 crore with green shoe option up to Rs 100 crore, aggregating up to 2,000 NCDs amounting to Rs 200 crore. The bonds will be in the nature of secured, rated, listed, redeemable, principal protected market linked debentures (PP-MLD). The NCDs will be issued on a private placement basis in one or more tranches. The banking and securities management committee of the company at its meeting held on December 14, 2020 has approved the same.

Vodafone Idea and Bajaj Finance have teamed up to facilitate easy access to smartphones at affordable EMIs, along with 6 months and 1-year prepaid plans from the telco. Under the pact, the EMI will be calculated on the basis of the total billed amount including the price of the smartphone and the recharge. Thereafter, the amount will be divided into 6 to 12 monthly installments to derive the EMI amount.

Computer Age Management Services (CAMS) has incorporated wholly owned subsidiary company namely ‘CAMS Payment Services’. CAMS Payment will be making an application to the Reserve Bank of India (RBI) for being registered as a payment aggregator in accordance with the Guidelines on Regulation of Payment Aggregators and Payment Gateways issued by the RBI on March 17, 2020. The Company currently undertakes the payments business. Once CAMS Payment receives the approval of the RBI, the payment aggregator business shall be undertaken only by CAMS Payment.

Indian Bank has further raised tier 1 capital fund through private placement of Basel III compliant AT 1 (additional tier 1) perpetual bonds aggregating to Rs 560 crore. The coupon on the bonds was 8.44 percent per annum payable annually. The issuance/placement of said bonds has been completed by the bank through BSE-EBP (bond platform).

Thomas Cook India and its Group company, SOTC Travel have collaborated with WelcomHeritage Hotels to introduce enriching and affordable holiday experiences across India. The holiday offerings provide Indians an exciting opportunity to connect with their heritage while promoting India's regional culture, tradition, cuisine and local flavour. The portfolio features an unparalleled blend of palaces, forts, havelis and wellness & wildlife resorts, each with a special story to tell.