Industry News

NIIT Technologies Ltd on Saturday reported better-than-expected revenue of Rs.692.2 crore in the September quarter helped by growth in its banking, financial services and insurance business business from United States. The company's net profit, however, fell about 9% to 64.6 crore in the second quarter compared to a year earlier due to decline in higher margin UK insurance business as well as higher tax rate. NIIT Technologies's revenue rose by 2%..."/>
NIIT Technologies's Q2 profit falls 9% to 64.6 crore; revenue up 2% [Mint, New Delhi]
Mahindra and Mahindra Ltd, which owns online babycare business BabyOye for Rs.362.1 crore in a cash and stock deal, a move that is expected to help the company significantly expand its offline presence as well as strengthen its position as a leader in the babycare segment. In a filing to the Bombay Stock Exchange on Saturday, Mahindra and Mahindra Ltd..."/>
FirstCry buys Mahindra's BabyOye for Rs362.1 crore [Mint, New Delhi]
Accenture report. The Accenture report reveals that if the UAE government and businesses optimise digital skills, technologies and accelerators, then the UAE's GDP would increase by $13.8 billion by 2020.. At Gitex Technology Week, SAP will exhibit its transformative technologies under the theme of' Run Simple, Run Live', showcasing dozens of SAP HANA demos..."/>
Digital drive can boost UAE GDP by $14 billion in 2020 [Khaleej Times, Dubai, United Arab Emirates]
Events put on hold [Bangkok Post, Thailand]
Fetco calls for trading probe [Bangkok Post, Thailand]
Infosys Ltd to become the fifth most valuable company in India by market capitalization. Data from BSE showed that ONGC had a market capitalization of Rs2.37 trillion, after its shares advanced 1.65% at the close of Friday's trading. In the last three months, ONGC shares have gained over 19.72%."/>
Market capitalization: Infosys loses fifth spot to ONGC [Mint, New Delhi]
Infosys Ltd's revenue and profit growth in the September quarter were miles ahead of the Street's estimates. Revenue grew by 3.9% in constant currency terms sequentially, far higher than the mere 1% growth Tata Consultancy Services Ltd reported on Thursday. And while TCS's operating profit rose 4%, Infosys's profit rose 7%."/>
Is Infosys being overly conservative with its guidance? [Mint, New Delhi]
EF Hutton America executive was removed after he refused to move to Springfield and instead demanded a separate office in California, the company said in a statement Friday. Dennis White sued the firm in federal court earlier this week, alleging EF Hutton America failed to compensate him for his work as president for at least two years. In a statement Friday, the firm describes Dennis White as a member of the EF Hutton board of directors and says he was never employed..."/>
EF Hutton: Exec refused Springfield move, wanted Beverly Hills office [Springfield News-Sun, Ohio]

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