TCS to acquire Coastal Cloud for $700 million

TCS to acquire Coastal Cloud for 0 million

TCS to acquire Coastal Cloud for $700 million

by Hansraj Agrawal | Dec 10, 2025 | Business

TCS said it will continue to pursue the M&A agenda

Tata Consultancy Services (TCS) will acquire 100 per cent stake in Coastal Cloud, a Salesforce Summit partner, for an all-cash consideration of $700 million. The transaction is expected to be completed by January 31, 2026.

“Coastal Cloud is one of the largest ‘pure-play’ Salesforce partners with strong advisory capabilities, multi-cloud offerings and AI/Agentforce expertise. It has strong growth and profitability profile, deep partnership with Salesforce and nearly 400 Salesforce certified personnel based in the US. Coastal Cloud has 400+ strong client roster including a strong presence in the mid-market segment,” said TCS in a stock exchange filing, adding the company’s consolidated turnover for FY24 was $132 million.

Salesforce Ventures has been a strategic investor in this firm.

In October 2025, TCS strengthened its Salesforce practice with its ListEngage acquisition, a Summit Partner recognised for its Agentforce, Marketing and Commerce Cloud expertise. With Coastal Cloud, TCS has added over 400 seasoned professionals with more than 3,000 multi-cloud certifications. Coastal Cloud’s customer portfolio includes enterprises across industry verticals. TCS will access mid-market customer segment.

Top five

With the acquisitions of ListEngage and Coastal Cloud, TCS will be among top five Salesforce advisory and consulting firm, globally.

Aarthi Subramanian, Chief Operating Officer, TCS, said, “ [Eric Berridge, CEO, Coastal Cloud], together with Altaf Shaikh from ListEngage will strengthen our leadership in propelling the next phase of growth for our Salesforce practice.”

Vikram Karakoti, Global Head, Enterprise Solutions, TCS, “These two acquisitions expand our geographic presence, deepen our sector capabilities, and significantly strengthen our talent pool, giving us confidence to meet our aspirations and support clients’ agendas in a rapidly-evolving technology landscape.”

TCS said it will continue to pursue the M&A agenda.

Published on December 10, 2025

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SBI, BoB get RBI nod to set up fraud detection platform

by Hansraj Agrawal | Dec 10, 2025 | Business

The platform is being set up to detect and prevent fraudulent digital transactions in public sector banks.
| Photo Credit:
FRANCIS MASCARENHAS

State Bank of India (SBI) and Bank of Baroda (BoB) on Wednesday said they have received the Reserve Bank of India’s (RBI) approval to set up a company for creating a “Digital Payments Intelligence Platform”.

The company ‘Indian Digital Payment Intelligence Corporation’ (IDPIC) will be established as a Section 8 company (a special type of non-profit organisation) under the Companies Act, 2013. It is being set up to detect and prevent fraudulent digital transactions in public sector banks.

The approval is subject to the exemption granted by Department of Financial Services, Ministry of Finance, Government of India, to the banks from a Section 19(2) of the Banking Regulation Act, 1949, to hold shares in excess of 30 per cent of the paid-up share capital in the proposed company till October 16, 2026.

Published on December 10, 2025

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Cotton panel pegs production, imports and exports of the natural fibre lower this season

by Hansraj Agrawal | Dec 10, 2025 | Business

The Committee on Cotton Production and Consumption (CCPC), a body comprising all stakeholders in the sector, has pegged the natural fibre’s production lower this season, while projecting a fall in imports.

At its review meeting held on Monday, the CCPC provisionally estimated cotton production at 292.15 lakh bales (of 170 kg each) this season (October 2025-September 2026), lower than the 297.24 lakh bales produced last season. The production estimate is in line with the Ministry of Agriculture’s first advanced estimate.

Tamilnadu Spinning Mills Association (TASMA) chief advisor K Venkatachalam, in a letter to association members, said the first meeting of the season was held via video conference, chaired by the Textile Commissioner.

The CPCC has estimated imports at 40 lakh bales compared with 41.4 lakh bales last season. This is in contrast to the Cotton Association of India estimates, pegging cotton imports at a record 50 lakh bales.

Low ending stocks

Along with a carryover stock of 45.50 lakh bales (47.47 lakh bales last season), overall supply has been estimated at 377.65 lakh bales (386.11 lakh bales). The lower production and import has led to the ending stocks being seen lower at 40.65 lakh bales.

The CCPC has also pegged exports lower at 15 lakh bales against 18 lakh bales, while mills’ consumption could be a tad lower at 213 lakh bales (213.04 lakh bales). Non-textile consumption is estimated unchanged, while micro, small and medium enterprices offtake is expected to be lower by 0.5 lakh bales at 213 lakh bales.

Published on December 10, 2025

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Bank of Baroda recognised as ‘Best Bank in India’ by The Banker

by Hansraj Agrawal | Dec 10, 2025 | Business

Bank of Baroda has extended on-the-ground support for customers, opening 184 branches throughout the country, says The Banker.
| Photo Credit:
ANUSHREE FADNAVIS

Bank of Baroda (BoB) on Wednesday said it has been recognised as ‘Best Bank in India’ at the “Bank of the Year Awards 2025 – Asia-Pacific“ by The Banker magazine, a Financial Times publication.

The magazine noted that BoB has improved customer experience by expanding the use of its phygital branches, which combine in-person and digital services for customers.

“Users can quickly obtain statements, generate income tax payment certificates and update the nominees named who can gain access to a bank account,” the magazine said on its website.

“Customers can contact banking staff directly via video calls for advice on home loans, term deposits and car loans, and can still access assistance face to face through the universal service desks, which can provide help with more complex banking needs,” it said.

The bank has also extended on-the-ground support for customers, opening 184 branches throughout the country, it added.

The Banker observed that smaller business customers were assisted with the introduction of the Smart OD (overdraft) product to help them access working capital.

Further, companies are provided with financing based on their business-to-business sales, reflected in their goods and services tax returns or current accounts. Using digital verification, the financing can be offered in less than 24 hours and creates a new channel for financial inclusion for those who may have lacked access before.

“Retail customers are supported with the creation of liquid fixed deposits, which combine a higher rate of a fixed deposit with the easy access of a savings account. Customers can withdraw from the account without missing out on the agreed rate of interest on the remaining funds,” the magazine said.

MD & CEO Debadatta Chand said, “Bank of Baroda remains committed to serving every Indian by driving inclusive and sustainable growth, advancing nation-building efforts and contributing to India’s progress on the global stage.”

Published on December 10, 2025

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TRAI recommends capping microwave backhaul bands to 0.1 per cent of AGR

by Hansraj Agrawal | Dec 10, 2025 | Business

TRAI has finalised its recommendations on assignment of the microwave spectrum in 6 GHz (lower), 7 GHz, 13 GHz, 15 GHz, 18 GHz, 21 GHz bands, E-Band, and V-Band
| Photo Credit:

The Telecom Regulatory Authority of India (TRAI) on Wednesday has recommended capping of traditional microwave backhaul bands to 0.1 per cent of adjusted gross revenue (AGR).

“Under the existing charging regime, it was required to pay a backhaul spectrum charge of 1.1 per cent of AGR in the licensed service area as per the applicable [escalating] charging matrix. As TRAI has recommended a uniform spectrum charge of 0.1 per cent per carrier…This would result in a saving of 0.6 per cent of AGR in the LSA to the wireless access service provider,” the sector regulator said.

Based on the comments received from stakeholders during consultation process, and further analysis, TRAI has finalised its recommendations on assignment of the microwave spectrum in 6 GHz (lower), 7 GHz, 13 GHz, 15 GHz, 18 GHz, 21 GHz bands, E-Band, and V-Band, it said.

As per the feedback, it has recommended the rationalisation of the spectrum charges for point-to-point link-based assignments in traditional microwave backhaul bands.

Earlier, spectrum charges for point-to-point links were governed by the Department of Telecommunications’ (DoT) order on spectrum charges for assignment of frequencies to captive users (being charged on formula basis) for different types of radio communication services and applications’.

TRAI also recommended backhaul spectrum charges for point-to-point links in traditional microwave backhaul bands at ₹75,000 per carrier per annum in 6GHz (lower) and 7GHz bands, and ₹25,000 per carrier per annum in 13GHz, 15GHz, 18GHz and 21GHz bands.

For spectrum in E-band and V-band, TRAI said they should be assigned for backhaul purposes only, with specific charging mechanisms. Proposed charges include ₹25,000 per link for E-band and ₹2,500 for V-band, promoting affordability and utilisation. Stakeholders advocate for administrative assignments over auctions to avoid competitive imbalances, it said.

It said E-band (71-76 GHz paired with 81-86 GHz) should be assigned to wireless access service providers on a block basis in the licence service area for backhauling wireless access network traffic.

At present, access service providers pay charges for E-Band as a percentage of their AGR, and continuity of the same will ensure a consistent and stable framework.

“Under the existing policy regime for the assignment of backhaul spectrum on a blockbasis to wireless access service providers, the spectrum charge per carrier in E-band was 0.15 per cent of AGR. TRAI has recommended that the spectrum charge for E-Band carriers, assigned to a wireless access service provider on a block-basis for backhauling wireless access network traffic, should be 0.10 per cent of AGR for each carrier. This would result in a reduction of about 33 per cent in the spectrum charge per carrier in E-Band,” it said.

E-band is a capacity band for covering short distances and is used world over for dense urban areas. Its usage is expected to increase in India with increasing data usage in the 5G era.

“There should be a ceiling of three carriers, each of 250 MHz (paired) bandwidth, which may be assigned to a wireless access service provider in E-Band on a block-basis in a license service area. Under the existing policy regime, there was a ceiling of two carriers in E-Band,” TRAI mentioned.

Similarly, spectrum in V-band (57-66 GHz range) should be assigned on a point-to-point link basis to all types of authorised entities, including captive users, for backhaul purposes. There should be a ceiling of 20 carriers, each of 50 MHz (unpaired) bandwidth, per link in V-band, TRAI said.

“In parallel to the licensed fixed services (radio backhaul) in V-Band, the licence exempt usage should also be permitted in V-Band (57-66 GHz) for both low power indoor and very low-power outdoor usage on a non-interference, non-protection, and shared (non-exclusive) basis,” it highlighted.

Published on December 10, 2025

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Nifty extends losing streak to third day ahead of Fed policy decision

by Hansraj Agrawal | Dec 10, 2025 | Business

Selling pressure emerged at higher levels, pulling the index down to close near the previous day’s low zone of 25,720-25,740

Markets closed lower for the third consecutive session on Wednesday, with benchmark indices slipping 0.32 per cent as investors adopted a cautious stance ahead of the US Federal Reserve’s policy outcome and amid persistent foreign institutional investor outflows and rupee weakness.

The Nifty 50 closed at 25,758.00, down 81.65 points or 0.32 per cent, after touching an intra-day high of 25,947.65 and a low of 25,734.55. Sensex ended at 84,391.27, declining 275.01 points or 0.32 per cent, having opened at 84,607.49 and oscillating between 85,020.34 and 84,313.62 during the session. Bank Nifty fell 261.95 points or 0.44 per cent to close at 58,960.40.

“The index opened steady and moved higher initially, hitting an intra-day high of 25,948. However, selling pressure emerged at higher levels, pulling the index down to close near the previous day’s low zone of 25,720-25,740,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

Gainers, losers

Broader markets witnessed sharper declines, with the Nifty Midcap 100 falling 668.45 points or 1.12 per cent to 59,007.75, while the Nifty Smallcap 100 dropped 155.65 points or 0.90 per cent to 17,090.15. Market breadth remained weak, with 2,332 stocks declining against 1,857 advances on the BSE, where a total of 4,337 stocks were traded. Notably, 136 stocks hit 52-week lows compared to just 74 touching 52-week highs.

Sectoral performance was mixed, with Nifty Media emerging as the top gainer, followed by Nifty Metal. However, Nifty IT and Nifty PSU Banks led the declines among sectoral indices. Nifty Financial Services fell 145.45 points or 0.53 per cent to 27,404.30.

Among Nifty 50 constituents, Eicher Motors emerged as the top gainer, surging 1.54 per cent to ₹7,233; followed by Hindalco, which rose 1.07 per cent to ₹821.60; HDFC Life gaining 1.06 per cent to ₹771; Tata Steel advancing 0.83 per cent to ₹162; and Sun Pharma climbing 0.70 per cent to ₹1,788.50. On the losing side, IndiGo plunged 3.17 per cent to ₹4,810; Eternal dropped 3.09 per cent to ₹282.70; Trent fell 1.77 per cent to ₹4,013; Adani Enterprises declined 1.39 per cent to ₹2,213.90; and JSW Steel slipped 1.31 per cent to ₹1,093.30.

“Global equity markets experienced continued volatility due to rising Japanese bond yields and indications of BoJ monetary tightening, which are fostering risk-off sentiments in emerging markets,” said Vinod Nair, Head of Research, Geojit Investments. “Focus now shifts to the upcoming US Fed meeting, where a 25-bps rate cut is widely expected.”

Technical indicators

Technical indicators continued to show weakness. “The RSI has slipped sharply from 60 to 44 over the last three sessions, indicating weakening momentum and a shift in favour of sellers,” Shah noted. “Additionally, the MACD red histogram bars have been rising, signalling strengthening bearish momentum and an expansion in downside pressure.”

Looking ahead, market participants await cues from US Federal Reserve Chair Jerome Powell’s commentary on the likely path of interest rates in 2026. “The key focus will be on the 2026 dot-plot guidance,” said Ajit Mishra, SVP – Research, Religare Broking. “Additionally, updates from the India-US trade discussions in New Delhi will remain in the spotlight.”

Published on December 10, 2025

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