CORPORATE NEWS : 1 Mar 2017

corporate

Tech Mahindra and Saguna partner to deliver MEC solutions
Tech Mahindra and Saguna partner to deliver MEC-based optimization and acceleration solutions
Tech Mahindra and Saguna have joined hands to improve user experience and mobile network utilization.
Tech Mahindra and Saguna are addressing mobile operators’ need to optimize and manage the RAN for video delivery and IoT services.
The joint solutions use the Saguna Open-RAN MEC platform, which creates an open ecosystem for 3rd party applications inside mobile Radio Access Network (RAN).

Tata Sponge hits 52-week high
Shares of Tata Sponge surged over 5%, touching to Rs687.45, after HSBC Global Investment Funds bought 1.45 lakh shares of the company at Rs 646.54
per share in a bulk deal on the NSE yesterday,

Zee Entertainment completes first phase of sale of TEN Sports
Zee Eentertainment completes first phase of sale of TEN Sports to Sony Pictures, positive read-thru
ZEEL announced that it has completed the first phase of a two -phase sale of its sport business, TEN Sports Network to Sony Pictures and received $330 million.
The first phase of transaction inter alia comprising the sale of entire equity stake of the company in Taj-India and transfer of major part of the Sports Broadcasting Business of Taj- Mauritius.

Wipro board likely to consider share buyback proposal
Wipro- As per media flash, Wipro board likely to consider share buyback proposal, though it did a buyback of 4 crore shares (1.62% of capital) in April 2016
Further, Wipro may use 25-30% of cash reserves as shareholder returns over three years, sentimentally positive for the stock.

Eicher Motors Royal Enfield February 2017 sales grow 19% YoY
Eicher Motors – 2w division (Royal Enfield) February 2017 sales grew 19% YoY to 58,439 units.
The sales were marginally down on MoM basis (2% drop) due competitive pressures pointing at a market share loss.
The sales numbers were marginally below estimates of 61000 units.

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