 Wipro Consumer Care announced that it is acquiring personal care company ‘Splash’, which is based in the Philippines. The transaction strengthens the Bengaluru-based company’s consumer care portfolio in personal care and completes its South-East Asian footprint. Splash, the largest personal care player in the Philippines, recorded revenues worth $80 million in 2018. |
| Source- Business Standard |
 Microsoft has reached a valuation of one trillion dollars for the first time after posting an increase in profits. It makes the software giant only the third publicly-traded company in history to reach the threshold after Apple and Amazon passed it in 2018. Microsoft’s current valuation also means that it has again taken over Apple as the world’s most valuable company. |
| Source: The Verge |
 SBI General Insurance has launched a product – cyber defence insurance to protect businesses from financial and reputational losses due to cyber attacks. This offers protection against the growing threat of cyber breaches. It is designed to protect against major insurable cyber exposures like hacking attacks, identity theft, disclosure of sensitive information and business interruption. |
| Source: Economic Times |
 Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance in collaboration launched their first product ‘Total Health Secure Goal’. The new insurance product is a combination of two existing plans – Health Guard policy by Bajaj Allianz General Insurance, and iSecure from Bajaj Allianz Life Insurance. Under Health Guard policy, a customer can choose the option between a Silver or a Gold Plan with an insured sum ranging from Rs 1.5 lakh to Rs 50 Lakh. |
| Source: Business Standard |
 Reliance retail has become the first Indian retail company to clock more than Rs 1 lakh crore in annual revenues. The retail venture of Reliance Industries reported an income of Rs 1,30,556 crore for 2018-19, 89% more than the previous year’s Rs 69,198 crore. Reliance Retail also became the first Indian retailer to cross more than 10,000 stores. |
| Source: Economic Times |
 CRISIL Ltd, a diversified global analytics company, will transfer its rating business to its proposed new wholly-owned subsidiary. The board of CRISIL gave the nod for the transfer, which is being done to comply with SEBI norms of 2018. Earlier, SEBI had modified its regulations for credit rating agencies and mandated the segregation of rating and non-ratings businesses of credit-rating agencies. CRISIL proposes to undertake the transfer of its ratings business through a scheme of arrangement in terms of Section 230 to 232 of the Companies Act, 2013, to be approved by the stock exchanges and the National Company Law Tribunal. |
| Source- The Hindu Business Line |
 India was a net importer of steel during the 2018-19 fiscal year, the first time in three years, as the country lost market share among its traditional steel buyers and imports jumped on demand for higher-quality steel domestically. The country’s finished steel exports fell by 34% in the fiscal year that ended in March to 6.36 million tonnes, according to preliminary government data given to Reuters on Friday. During the same period, finished steel imports rose 4.7% to 7.84 million tonnes. |
| Source: The Hindu |
 PayU, Digital payments security and payment facilitator has acquired Wibmo, a US-based financial technology firm for USD 70 million (about Rs 484 crore) to assist the company scale-up its business. Under the agreement, PayU and Wibmo businesses will continue to run separately. Wibmo will continue to operate and serve all of its clients as a wholly-owned subsidiary of PayU. |
| Source: Business Today |
 The Department of Telecommunications (DoT) has approved the merger of Tata Teleservices with Bharti Airtel Ltd., subject to the condition that it furnishes a Rs 7200 crore bank guarantee. Telecom Minister Manoj Sinha gave his conditional nod for the merger. The guarantees are mostly related to one-time spectrum charges (OTSC) and some deferred airwave charges, according to people aware of the development. |
| Source- The Economic Times |
 Tata Consultancy Services partnered with Google Cloud to build industry-specific cloud solutions. TCS’ solutions on Google Cloud Platform (GCP) will help enterprises build secure, cloud-native analytics platforms that enable high levels of personalization, and are cost-effective, easy to maintain, and future ready. |
| Source- The Hindu Business Line |
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