Cognizant lists on Nasdaq
Chennai: Cognizant Technology Solutions Corporation has listed on the Nasdaq with the president and CEO of the company Francisco D'Souza, ringing the opening bell from the company's Chennai techno-complex.

In Chennai, Cognizant's management team of D'Souza, Lakshmi Narayanan (vice-chairman), R. Chandrasekaran (president and managing director, global delivery), Gordon Coburn (chief financial and operating officer) and Raj Mehta (COO, global client services) was present.

In the US, its industry practice heads were present at the event. Charlotte Croswell, president, Nasdaq International, and David Hopper, US Consul General, Chennai, were also present at the Chennai event.

The Nasdaq Remote Opening Bell ceremony is a recreation of the daily Opening Bell that takes place in the Nasdaq studio. Both the opening and closing bell ceremonies are broadcast live on Nasdaq's TimesSquare Tower in New York and are televised by global television stations.

The Cognizant stock opened at $85.24 on the Nasdaq as against the Friday's close of $86.93.
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Fidelity hikes stake in House of Pearl
New Delhi: Textile firm House of Pearl Fashions India has said that FMR Corporation, Fidelity International, along with direct and indirect subsidiaries have acquired 1.84 per cent stake in the company.

With this, the stake of FMR Corporation, Fidelity International and their subsidiaries have risen to 6.13 per cent in House of Pearl Fashions, a statement from the company said.
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Citigroup hikes stake in Ansal to over 5 per cent
Mumbai: Offshore fund house Citigroup Global Markets has consolidated its stake in real estate and property developer Ansal Housing and Construction to 5.17 per cent through acquisition of 77,096 shares for an estimated of Rs2 crore.

In a regulatory filing to the BSE, Ansal Housing and Construction said, Citigroup now holds 8.29 lakh shares of the company after the February 19 deal from a previously held 4.68 per cent representing 7.52 lakh shares.

Going by the intra-day price of Ansal Housing scrip on the aforementioned date of Rs277.70, Citigroup could have bought the additional shares for Rs2.14 crore.
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ABN Amro launches sustainable development fund
Mumbai: ABN AMRO Asset Management (India) has launched the ABN Amro sustainable development fund - India's first Socially Responsible Investing (SRI) Fund.

The fund will choose from S&P CNX 500 companies filtered by CRISIL using an environmental, social and corporate governance (ESG) template based on public disclosures.

The ABN Amro Mutual Fund will then financially analyse the stocks before investing in them.

Sources said the fund seeks to invest in companies that are socially responsible and financially viable at the same time; it makes it an ideal scenario for an investor.

The investment objective of the fund is to generate long-term capital growth from an actively managed portfolio of equity and equity related securities.
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Gremach Infrastructure plans IPO
Mumbai: Gremach Infrastructure Equipments & Projects, provider of construction and earthmoving machineries to medium and large companies on rental, proposes to enter the capital market with a public issue of Rs59 crore through 100 per cent book building process.

The price band has been fixed between Rs75 and Rs90 per equity share of Rs10 each. The issue opens on 9 March.

The public issue of up to 50 per cent of the net issue size shall be allocated to qualified institutional buyers. Another 15 per cent of the issue would be available on proportion basis to non institutional bidders and at least 35 per cent of the issue shall be available for allocation on a proportionate basis to retail individual bidders subject to valid bids being received at or above the issue price.

The equity shares are proposed to be listed on BSE.
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