Wipro, HCL Technologies and Adani Enterprises to see some action today

Wipro is partnering with Micro Focus to launch the Legacy Migration and Modernisation Lab collaborating with Amazon Web Services (AWS). This lab, hosted at Wipro’s AWS Launchpad in Parramatta, Australia, will allow companies in Australia and New Zealand (A/NZ) to experience hands-on demonstration of tools and accelerators that can help optimise mainframe application capabilities for the cloud.

HCL Technologies, (HCL) has launched HCL SMARTWiFi, a WiFi management platform targeted to Communication Service Providers (CSPs) delivering WiFi services. HCL SMARTWiFi is a cloud-native, containerized, highly scalable platform that allows for large scale WiFi access point deployments. The platform offers far lower total cost of ownership, compared with traditional offering and includes a selection of access points from several leading WiFi access point manufacturers.

Adani Enterprises is reportedly in talks with at least half a dozen sovereign and global pension funds and energy majors, such as the Abu Dhabi Investment Authority (ADIA), the Qatar Investment Authority (QIA), a BNP Paribas arm and TotalEnergies SE, to raise up to $2 billion in equity sales. The proposed fundraising is part of the Adani Group’s broader plan to make Adani Enterprises a ‘sustainable’ energy major while decarbonising transportation and industrial sectors and help achieve India’s green objectives.

Maruti Suzuki India will launch electric vehicles in the country only after 2025 as demand for such vehicles at the moment is less and it would like to sell around 10,000 units a month whenever it enters the electric mobility space.

Bharti Airtel is estimated to have garnered over Rs 5,200 crore from the first round of payment in its recently-concluded rights issue, as the telco's special committee approved allotment of 39.2 crore equity shares to eligible applicants. The applicants paid Rs 133.75 per share on application, with the balance sum to be paid in two more additional calls as may be decided by the board. Pursuant to the allotment, the paid-up equity share capital of the company has also increased.

Adani Ports and Special Economic Zone (APSEZ) has decided to exit its investment in Myanmar by June next year. In August this year, APSEZ had said its investment in a port in Myanmar was not in violation of any sanction guidelines issued by the Office of Foreign Assets Control (OFAC) of the US Department of Treasury.

Indian Overseas Bank has reported results for second quarter ended September 30, 2021. The bank has reported above 2- fold jump in its net profit at Rs 376.41 crore for the quarter under review as compared to Rs 148.14 crore for the same quarter in the previous year. However, total income of the bank decreased by 1.01% at Rs 5375.56 crore for Q2FY22 as compared Rs 5430.58 crore for the corresponding quarter previous year. The bank’s gross Non Performing Asset (NPA) for the July- September quarter of the current fiscal improved to 10.66%, as compared to 13.04% in the same quarter of the previous year. Besides, bank’s net NPA stood at 2.77% in Q2FY22.