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Wipro, United Spirits, Vedanta to be watched
(08:00, 28 May 2020)

Wipro Gallagher Solutions (WGS), a Wipro company and leading provider of loan origination software solutions, announced the launch of NetOxygen v7.0, the latest version of its NetOxygen loan origination solution platform.

United Spirits' consolidated net profit dropped 52.52% to Rs 58.40 crore on 11.28% fall in total income to Rs 2,065 crore in Q4 March 2020 over Q4 March 2019.

Vedanta announced that India Ratings has downgraded the rating of the company to IND AA- with negative outlook from previous rating of IND AA/ negative outlook.

Foseco India's net profit dropped 29.55% to Rs 6.08 crore on 13.91% fall in total income to Rs 73.62 crore in Q4 March 2020 over Q4 March 2019.

IndoStar Capital Finance closed on Rs 1,225 crore equity capital injection by Brookfield Business Partners L.P., together with its institutional partners. As part of the investment, Brookfield will become a co-promoter in IndoStar and has the ability to nominate two board members.

Adani Power has signed power purchase agreement with the Madhya Pradesh government for procurement of 1,230 MW of electricity on a long-term basis from a new power station of 1,320 MW capacity to be set up on super critical technology.

Tube Investments of India said that the board of directors of the company has approved fresh long-term borrowing, to meet the company's fund needs during the financial year 2020-21, of a sum not exceeding in the aggregate Rs 200 crore, including by way of issue of privately placed secured non-convertible debentures, in one or more tranches.

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