Coforge has signed definitive agreements to acquire a controlling interest in SLK Global Solutions, a business process transformation enterprise offering BPM and digital solutions for the financial services industry.
A fast-growing business with a robust operating profile, SLK Global has deep domain expertise in the banking and insurance segments in North America. It enjoys multiple long-standing and scalable relationships with marquee clients with strong growth potential, including with Fifth Third Bank, N. A., which in addition to being the largest customer, is also a significant minority shareholder. It has also created a suite of platform solutions that provide a differentiation to its clients.
On 17 April 2021The Board of Coforge will meet on 17 April 2021 to consider and approve raising of funds by way of issuance of Non Convertible Bonds on private placement basis, for such amount and on such terms and conditions as may be decided by the Board at the aforesaid meeting.
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Coforge is acquiring a strategic stake in SLK Global Solutions (Investee Company). The acquisition will enable Coforge acquire a new Top-5 client, substantially scale up its current BPM operations business, strengthen its presence in the Financial Services vertical, and noticeably expand its footprint in the US geography.
Additionally, Coforge sees significant synergies across its $ 100Mn Automation practice and the Investee Company BPM business, enabling the combined entities to drive differentiated impact in the market. This acquisition will also add an Indian Tier-3 city location capability to Coforge and enable it to compete for large deals with a material BPO/BPM operations component.
Nifty April futures trade at premiumThe Nifty April 2021 futures were at 14,364.50, a premium of 53.17 points compared with Nifty s spot closing of 14,310.80.
Turnover on the National Stock Exchange s futures & options (F&O) segment was Rs 35.35 lakh crore compared with Rs 22.34 lakh crore in the previous session.
In the cash market, the Nifty 50 index slumped 524.05 points or 3.53% to 14,310.80.
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, soared 16.22% to 23.
RIL, Infosys and Dr. Reddy s were the top traded stock futures contracts in F&O segment for April expiry.
The April F&O contracts will expire on 29 April 2021.
Saksoft Ltd, Sanghvi Movers Ltd, Jubilant Ingrevia Ltd and TPL Plastech Ltd are among the other gainers in the BSE s B group today, 06 April 2021.
Saksoft Ltd, Sanghvi Movers Ltd, Jubilant Ingrevia Ltd and TPL Plastech Ltd are among the other gainers in the BSE s B group today, 06 April 2021.
MPS Ltd soared 15.35% to Rs 574.45 at 12:04 IST. The stock was the biggest gainer in the BSE s B group. On the BSE, 2592 shares were traded on the counter so far as against the average daily volumes of 2805 shares in the past one month.
Saksoft Ltd surged 15.18% to Rs 429. The stock was the second biggest gainer in B group. On the BSE, 6752 shares were traded on the counter so far as against the average daily volumes of 3441 shares in the past one month.