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TCS, Infosys and Cigniti Technologies to see some action today

09 Sep 2021

Tata Consultancy Services (TCS) has been selected by Avianca, one of the leading airlines in South America, as a strategic partner in its cloud transformation journey. TCS will modernize Avianca's IT infrastructure and build a new future-ready cloud-based digital core on Microsoft Azure. Leveraging its deep domain knowledge of the airline industry and its extensive experience in successfully executing large transformation programs, TCS will help the airline migrate 129 core applications to the cloud and will also manage the new cloud estate.

Infosys and The Economist Group have designed new strategic partnership to enable and accelerate sustainability solutions and drive world-changing impact through a new business-to-business model. This initiative is designed to unlock the long-term thinking of businesses and other institutions, combining insights, innovation and influence, to address the most challenging sustainability issues facing our planet today. This aspiration has driven Infosys and The Economist Group to join forces to create the necessary climate for change.

Cigniti Technologies has opened their office in Prague, Czech Republic. With this new expansion, Cigniti further extends its global footprint in the European region to meet the growing digital transformation needs of leading enterprises based in the region. Cigniti is currently serving enterprises from eight countries in the Europe and the U.K.

In its endeavour to completely pay off its overseas debt, Jindal Steel & Power (JSPL) through its step down subsidiary, Jindal Steel & Power (Australia), made a pre-payment of $105.66 million (approximately Rs 777.4 crores). The prepayment has helped reduce the Australian debt by approx. 50%. The company's Net Debt/EBITDA on Consolidated basis was reported at 0.96x while Standalone Net Debt/EBITDA was approx. 0.7x as of June quarter which is expected to go down further this quarter.

Adani Power’s wholly owned subsidiary company -- Adani Power Maharashtra (APML) has been declared as successful bidder for commercial mining of Gondkhari coal block in Maharashtra.

Shree Ganesh Remedies has acquired 100% equity stake of Akshar Jyot (AJPL). AJPL was incorporated to carry on the business of manufacturing of pharmaceuticals intermediates, medicinal preparations and its related articles and products.

Reliance Industries’ subsidiary -- Reliance Retail has become the second-largest customer of the Kishore Biyani-led Future group's FMCG arm Future Consumer, contributing over one-fourth of the total sales of the company. In the financial year 2020-21, the retail arm of Reliance Industries has purchased goods worth Rs 157.54 crore from Future Consumer, accounting 26.8 per cent of the total sales of Rs 586.15 crore.

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