Skipper Limited Wins ₹797 Crore Orders for 765 kV Transmission Project in India and Power T&D Exports to Australia

Skipper Limited (BSE: 538562) and NSE (Symbol: SKIPPER), one of the world's leading manufacturers for Power Transmission & Distribution structures and a major EPC player in 765 kV transmission lines and substation, is proud to announce that it has secured fresh new order of ₹797 crores for Domestic & International Power T&D projects. 

New Order Details

The Order wins comprise:

• Secured export orders for the supply of transmission towers and monopoles for Power T&D projects in Australia
• Secured a domestic 765 kV transmission line project from a reputed domestic developer. 

Commenting on the release, Mr. Sharan Bansal, Director of Skipper Limited, said: "The receipt of new orders aggregating to ₹797 crore across both domestic and international markets further strengthens our presence in higher-voltage transmission infrastructure and reinforce our focus on technically complex T&D projects. We are particularly encouraged by the growing traction in our international business, with developed markets such as Australia gaining momentum. Our expanding presence in these markets, supported by our capabilities across high-voltage transmission structures and solutions, provides an opportunity to participate in larger and more technically demanding projects. These wins further diversify our order portfolio and are aligned with our strategy of increasing our presence in developed international markets while building a globally competitive T&D business.”

ABOUT SKIPPER LIMITED

Established in 1981, Skipper Limited is one of the leading companies in the Power Transmission & Distribution and Polymer segments. With over 45 years of domain knowledge, it is the largest in India and tenth largest globally based on manufacturing capacity. Skipper differentiates its offerings with high-quality yet cost-effective solutions for infrastructure providers and telecom operators. Its international footprint spans continents such as Latin America, Europe, and Africa, and covers 65+ countries, with a presence across sub-segments such as Towers, EPC, Monopoles, Poles, and Railway Electrification Structures. Skipper Limited is a national powerhouse in the polymer pipe business. Under the brand name 'Skipper,' the company manufactures premium-quality polymer pipes and fittings, which serve both the agricultural and plumbing sectors. Skipper Limited is listed on the BSE (538562) and NSE (Symbol: SKIPPER), since 2014 and 2015 respectively. 

India Secures Australian Uranium for Clean Energy Surge

India and Australia have signed a landmark uranium supply deal that will fuel India’s nuclear power surge, giving fresh momentum to its clean energy goals and strategic security ambitions. The agreement ensures long-term uranium exports from Australia exclusively for peaceful energy purposes, helping India target 100 GW nuclear capacity by 2047.

Australia holds the world’s largest uranium reserves, accounting for about 28–29% of global identified resources, with major deposits concentrated in South Australia, Northern Territory, and Western Australia. The Olympic Dam mine in South Australia is the single largest uranium deposit globally.

Australia’s uranium wealth, anchored by Olympic Dam and Yeelirrie, makes it a cornerstone of the global nuclear fuel supply chain. For India, tapping into these reserves through the recent uranium export agreement ensures a stable, safeguarded supply critical to achieving its 100 GW nuclear power target by 2047.

Key Highlights of the Uranium Deal

• Signed on July 9, 2026 in Melbourne during PM Narendra Modi’s visit.
• Australia to supply uranium under International Atomic Energy Agency safeguards, ensuring peaceful use.
• India’s target: 100 GW nuclear power capacity by 2047, critical for clean energy transition and data center demand.
• Australia’s reserves: ~28% of global uranium supply, giving India access to one of the world’s largest sources.
• Strategic scope: Deal accompanied by 18 pacts covering defence, maritime security, critical minerals, cyber tech, and supply chains.

Strategic & Economic Impact

• Energy Security: Stable uranium supply strengthens India’s clean energy mix, reducing reliance on fossil fuels.
• Indo-Pacific Stability: Defence and maritime cooperation reinforce India-Australia partnership against regional geopolitical challenges.
• Trade Diversification: Australia reduces dependence on China by expanding uranium exports to India.
• Critical Minerals: Collaboration extends to lithium, rare earths, and green hydrogen, vital for EVs and renewable infrastructure.

Comparison: India’s Nuclear Path vs Australia’s Role

India’s Nuclear Goals	Australia’s Contribution
100 GW nuclear capacity by 2047	Supplies ~28% of world uranium reserves
Expanding fast breeder reactors & thorium strategy	Long-term uranium exports under IAEA safeguards
Clean energy for data centers, EVs, manufacturing	Diversifies trade beyond China
Net Zero by 2070	Gains new market for resources sector

Risks & Challenges

• Non-proliferation concerns: Past hesitations over uranium exports due to fears of diversion to weapons programs; safeguards now in place.
• Geopolitical volatility: Indo-Pacific tensions could affect supply chain stability.
• Infrastructure readiness: India must accelerate reactor commissioning and grid integration to fully utilize uranium imports.

Takeaway

This Australia-India uranium deal is a breakthrough in energy diplomacy, positioning India as a major nuclear power player while securing Australia a strategic economic partner. For India, it’s not just about fuel—it’s about energy independence, clean growth, and geopolitical leverage in the Indo-Pacific.

Australia’s AirTrunk to Invest $30B in India, One of the Largest Commitments to S. Asia’s Digital Infra Sector

Blackstone-backed hyperscale operator AirTrunk has announced a landmark plan to invest $30 billion (₹3 lakh crore) in India by 2030, building over 5 GW of data centre capacity across multiple states to support AI and cloud infrastructure growth. This marks one of the largest digital infrastructure commitments in India’s history and to the South Asian nation’s digital infrastructure sector.

AirTrunk is a Sydney-based hyperscale data centre operator, founded in 2015 by Robin Khuda, and acquired by Blackstone and CPP Investments in 2024. It has rapidly expanded across Asia-Pacific and the Middle East, positioning itself as a leading provider of large-scale, sustainable cloud infrastructure.

In April this year, AirTrunk acquired Lumina CloudInfra to gain a 600 MW pipeline in Mumbai, Chennai, and Hyderabad. AirTrunk is one of the largest hyperscale operators in the Asia-Pacific & Middle East region, serving global cloud providers and enterprises.

Key Details of AirTrunk’s India Investment

• Scale of Investment: $30 billion (₹3 lakh crore) by 2030
• Capacity Target: More than 5 GW of hyperscale data centres
• Backers: Supported by Blackstone and CPPIB
• Entry into India: Acquired Lumina CloudInfra in April 2026 (600 MW pipeline)
• Strategic Focus: Expansion across states, renewable energy, subsea cable access
• Government Support: Welcomed by PM Modi

Why India?

• AI & Cloud Demand: India emerging as global hub
• Policy Frameworks: IndiaAI Mission (₹10,000 crore), Semiconductor Mission (₹76,000 crore)
• Talent & Energy: Skilled workforce and renewable energy
• Geopolitical Advantage: Safe harbour for investments

Economic & Strategic Impact

• Job Creation: Tens of thousands expected
• Supply Chain Localization: Boost to domestic suppliers
• Global Positioning: Strengthens India’s AI role
• Regional Competition: Competing with Google, Reliance, Adani

Comparison of Mega Data Centre Investments in India

Company	Investment Size	Capacity Target	Location Focus	Timeline
AirTrunk	$30B (₹3 lakh crore)	5 GW	Multi-state (Mumbai, Chennai, Hyderabad + expansion)	By 2030
Google	$15B	1 GW	Vizag	Ongoing
Reliance	₹1.08 lakh crore ($13B)	Giga-scale campus	Vizianagaram	Approved May 2026
Adani	$100B	Hyperscale AI-ready	Pan-India	By 2035

Risks & Challenges

• Power & Water Security: Renewable energy and desalination needed
• Regulatory Approvals: Streamlined clearances critical
• Global Competition: Competing with Singapore, UAE, US
• Execution Risk: Scaling from 600 MW to 5 GW

AirTrunk operates hyperscale data centres in Australia, Singapore, Japan, Hong Kong, Malaysia, and India. The Australian company provides colocation solutions for cloud, content, and enterprise customers, with real-time hyperscale capacity deployment.

AirTrunk was officially acquired by Blackstone and CPP Investments in December 2024. The deal gave Blackstone majority control of the Sydney-based hyperscale operator, marking one of the largest private equity transactions in Asia-Pacific’s digital infrastructure sector.This acquisition positioned AirTrunk to accelerate its Asia-Pacific and Middle East expansion, including its landmark $30B India investment plan by 2030.

TCS and Australian Securities Exchange (ASX) Launch Modern Clearing System with CHESS Release 1

Tata Consultancy Services (TCS) and the Australian Securities Exchange (ASX) have officially gone live with CHESS Release 1 — the first phase of ASX’s Clearing House Electronic Subregister System modernization, focused on cash clearing and settlement.

• Go‑Live Date: April 28 2026 (Sydney | Mumbai)
• Partners: Tata Consultancy Services (TCS) and Australian Securities Exchange (ASX)
• System: CHESS Release 1 — Clearing House Electronic Subregister System
• Focus: Cash clearing & settlement for eligible financial products
• Technology Stack: TCS BaNCS for Market Infrastructure, Quartz Gateway Solutions, Cloud‑hosted architecture, ISO 15022, ISO 20022, FIX standards

What CHESS Release 1 Delivers:

• Modernized Clearing Component: Real‑time trade novation and netting across asset classes
• Resilience & Scalability: Benchmarked for high‑volume processing
• Inter‑Exchange Connectivity: Integrates multiple Australian trading venues
• Compliance: Aligned with global post‑trade standards and CCP requirements

Leadership Commentary:

• Tim Whiteley, CIO ASX: “Release 1 marks a significant milestone in modernizing Australia’s critical market infrastructure.”
• R. Vivekanand, President BFSI Products & Platforms, TCS: “We are proud to have partnered with ASX on their modernization strategy and the successful go‑live of CHESS Release 1.”

Strategic Significance:

Aspect	Impact
Market Infrastructure Modernization	Strengthens Australia’s post‑trade ecosystem and global competitiveness
Cloud‑Native Architecture	Enhances resilience, scalability, and operational efficiency
Cross‑Market Integration	Supports multiple exchanges and asset classes
Future Roadmap	Release 2 targeted for 2029, expanding to securities registration and settlement

Broader Context:

• TCS demonstrates global leadership in market‑infrastructure modernization.
• ASX takes a critical step in its digital‑transformation journey.
• Ensures faster, safer, and more transparent post‑trade operations for Australia’s capital markets.

CHESS Release 1’s go‑live marks a foundational leap in Australia’s financial‑market modernization, combining TCS’s proven technology with ASX’s strategic vision for next‑generation clearing and settlement.

Accenture Announces Its Largest Ever Cybersecurity Acquisition of CyberCX

Global consulting giant Accenture has announced its largest-ever cybersecurity acquisition, acquiring Australian firm CyberCX in a landmark deal reportedly valued at $650 million. The move significantly expands Accenture’s cyber defense capabilities across the Asia-Pacific region and beyond.

CyberCX is one of the largest and most prominent cybersecurity firms in the Asia Pacific region. The company’s end-to-end services extend across consulting, transformation and managed security services and include advanced capabilities in offensive security and cyber physical security, crisis management, threat intelligence, managed detection and response, as well as strategic advisory, identity, cloud and network security.

Accenture’s acquisition of Australian cybersecurity firm CyberCX for a reported $650 million marks its largest-ever cybersecurity deal to date.

Why CyberCX?

• CyberCX employs approximately 1,400 cybersecurity professionals.
• Operates across Australia, New Zealand, London, and New York.
• Specializes in sovereign cloud security, threat intelligence, and crisis response.
• Offers advanced AI-powered cybersecurity platforms.

CyberCX was founded in October 2019 by John Paitaridis, who serves as CEO, and Alastair MacGibbon, the company’s Chief Strategy Officer. Paitaridis brought extensive experience from his leadership roles at Optus and Telstra, while MacGibbon contributed deep expertise from his tenure as Australia’s national cybersecurity advisor. Their vision was to create a sovereign cybersecurity powerhouse rooted in Australian and New Zealand capabilities.

CyberCX was financially backed by BGH Capital, a private equity firm that facilitated the rapid consolidation of 17 cybersecurity businesses to form CyberCX. This strategic roll-up enabled CyberCX to quickly establish itself as a dominant force in the region’s cybersecurity landscape.

Strategic APAC Expansion

Australia has faced a wave of high-profile cyberattacks in recent years, including breaches at Optus, Medibank, and Qantas. CyberCX’s strong local presence and government partnerships make it a strategic asset for Accenture’s push into the region. The acquisition positions Accenture as a dominant force in securing digital ecosystems across APAC.

Accenture’s Cybersecurity Growth Trajectory

Since 2015, Accenture has completed 20 security acquisitions, including most recently acquiring Morphus, MNEMO Mexico and Innotec Security.

Year	Company	Country
2023	Morphus	Brazil
2022	MNEMO	Mexico
2021	Innotec Security	Spain
2025	CyberCX	Australia

What This Means for the Industry

The acquisition signals a broader trend of consolidation in the cybersecurity sector, as global firms race to bolster defenses against increasingly sophisticated threats. For Accenture, it’s a bold step toward becoming the go-to provider for end-to-end cyber resilience, especially in geopolitically sensitive regions.

Telstra Sells 75% Stake in Versent Group to Infosys in $153M Deal to Accelerate Enterprise Transformation

Australian telecom firm, Telstra, has announced a landmark strategic partnership with Infosys, under which the Indian IT giant will acquire a 75% stake in Versent Group for AUD 233.3 million (USD 153 million). The move marks a significant step in Telstra’s “Connected Future 30” strategy, aimed at sharpening its enterprise focus and accelerating digital transformation across Australia and New Zealand.

Deal Overview

• Stake Divested: 75% of Versent Group to Infosys
• Valuation: AUD 233.3 million (USD 153 million)
• Telstra’s Retained Stake: 25%
• Expected Closure: H2 FY2026, pending regulatory approvals
• Payment Structure: AUD 175 million upfront + performance-based deferred payments
• Financial Impact: No material gain/loss expected for Telstra

Strategic Objectives

The partnership will establish a joint venture focused on delivering AI-enabled cloud solutions to large enterprises and government agencies. Infosys will gain operational control of Versent Group, which includes:

• Versent
• Epicon
• Telstra Purple Digital
• Cloud Access products

Together, these units comprise a 650-member team of engineers, strategists, and advisors serving sectors such as finance, energy, utilities, education, and government.

Combined Capabilities

The joint venture will integrate:

• Telstra’s connectivity and local market reach
• Versent’s cloud-native engineering and agility
• Infosys’s global scale, AI platform Topaz, cloud suite Infosys Cobalt, and cybersecurity arm The Missing Link

This synergy is expected to deliver end-to-end digital transformation solutions, with both companies referring and leveraging each other’s offerings.

Vicki Brady, CEO, Telstra:

This partnership reflects our confidence in the growth potential of Versent Group and the value unlocked through collaboration with Infosys. It accelerates our ability to deliver cutting-edge solutions to customers across the region.

Salil Parekh, CEO, Infosys:

We’re excited to bring transformative AI-first capabilities to complement Versent’s cloud-first foundation. This venture will accelerate innovation for enterprises and government corporations in Australia and New Zealand.

Versent Group will retain its brand identity and operate as a stand-alone business under the joint venture structure. The deal builds on prior collaborations between Infosys and Telstra, including a 2024 multi-year software engineering agreement and a 2025 partnership with Telstra International.

Adani Ports Acquires North Queensland Export Terminal in $2.5B Stock Deal

Gautam Adani is transferring ownership of the North Queensland Export Terminal (NQXT) in Australia to Adani Ports & Special Economic Zone (APSEZ) in a non-cash stock deal valued at $2.4–$2.5 billion. 

Key Details: -

• Transaction Structure: APSEZ will issue 143.8 million shares to acquire Abbot Point Port Holdings, which owns and operates NQXT. 
• Strategic Expansion: This move aligns with Adani Ports' goal of handling 1 billion tonnes annually by 2030. 
• Global Footprint: NQXT will be Adani’s fourth international port asset, following acquisitions in Israel, Sri Lanka, and Tanzanial. 
• Future Prospects: The terminal has a 50 million tonne capacity, with potential for green hydrogen exports. This deal strengthens Adani’s global logistics presence, consolidating assets under APSEZ while increasing promoter shareholding.

Abbot Point Port Holdings (APPH) is currently owned by Carmichael Rail and Port Singapore Holdings (CRPSHPL), a related entity of Adani Group. APSEZ is acquiring 100% interest in APPH through a non-cash share swap.

APSEZ will issue 143.8 million new equity shares to CRPSHPL in exchange for APPH, effectively consolidating the terminal under Adani Ports.

APPH’s assets include the 50 MTPA deep-water export terminal, which plays a crucial role in Australia’s mining sector and could support green hydrogen exports in the future.

The transaction is valued at A$3.975 billion, with APSEZ assuming non-core assets and liabilities from APPH, though these will be realized within months with zero net impact on valuation.

This move strengthens Adani’s global logistics footprint, bringing NQXT back under APSEZ after previously being transferred to the Adani family in 2013.

Adani Close to Seal $332 Mn Debt Deal for Its Queensland Port

Adani Group is reportedly close to securing a $332 million debt deal for its Abbot Point coal terminal in Queensland, a state in northeastern Australia. This deal is significant as it tests lenders' renewed interest in financing fossil fuel projects.

It's part of Adani's broader strategy to raise funds and continue its operations in Australia, despite facing challenges like the recent short-seller report.

The company is said to be in advanced talks with private lenders to provide new debt to settle the $332 million obligation its Abbot Point coal terminal must pay before June. There is no guarantee the talks will be successful.

This private credit loan is for Adani Group's North Queensland Export Terminal (NQXT), which operates the Abbot Point coal terminal in Queensland. The loan is reportedly being provided by Farallon Capital Management and King Street Capital Management.

North Queensland Export Terminal (NQXT) owns and operates a 50 million tonnes per annum coal export terminal under a long-term lease from the Queensland state government. The terminal is a key asset for Adani's coal export activities, particularly from the controversial Carmichael mine.

The North Queensland Export Terminal (NQXT) is controlled by the Adani family trust and plays a crucial role in Adani Group's operations in Queensland. The recent $332 million debt deal is directly related to NQXT, as the funds raised will be used to refinance existing debt and support the terminal's operations

This possible deal is part of Adani's strategy to refinance existing debt and continue its operations despite global banks becoming more reluctant to finance commodity-related companies due to ESG (Environmental, Social, and Governance) concerns.

The loan will be significant as it tests lenders' renewed interest in fossil fuel financing, especially after Adani Group faced a scathing short-seller report last year. Despite this, the group has announced plans to invest $100 billion in green energy over the next decade, aiming to become a net zero emitter by 2050.

HCLTech, Microsoft Partner with Cricket Australia to Leverage GenAI for Enhancing Fans Experience

Leading global technology companies, HCLTech and Microsoft, have partnered with Cricket Australia (CA) to leverage generative AI (GenAI) to enhance the way fans experience live matches via the Cricket Australia Live app.

The app’s new AI Insights matchday companion feature provides fans with a regular feed of text-based updates as matches progress. The feature uses AI rooted in a deep understanding of cricket to identify key narratives, player performances and notable milestones that go beyond the live scores and commentary, giving new context and insight to what is happening on the field.

The AI Insights matchday companion launches today at the Day-Night Test at the Melbourne Cricket Ground (MCG) during the CommBank Women's Ashes series between Australia and England. This innovative feature is now accessible to all users of the Cricket Australia Live App worldwide.

“By harnessing the power of GenAI, we have the ability to reimagine the way fans engage with sport,” said Sonia Eland, Executive Vice President and Country Manager, Australia and New Zealand, HCLTech. “HCLTech has partnered with Cricket Australia for several years through our long-term role as the sport’s Official Digital Technology Partner, but our collaboration with Microsoft will further enhance the digital experience. Ultimately, our goal is to bring cricket fans even closer to the action.”

Cricket Australia has leveraged Microsoft’s Azure Open AI Service as well as HCLTech’s front-end and API development support to create a more accessible match day AI companion for cricket fans.

“We’re excited to bring cutting-edge AI technology to cricket fans through our partnership with Cricket Australia and HCLTech,” said Sarah Carney, Chief Technology Officer at Microsoft Australia and New Zealand. “This innovation demonstrates how generative AI is transforming the way we interact with the world around us, bringing insight, meaning and personalisation to audiences old and new.”

HCLTech and Cricket Australia began working together in 2019 to transform the organization’s core API platforms. In 2023, they extended the partnership for another five years, with HCLTech continuing its role as the CA’s Official Digital Technology Partner. The multi-year partnership has included initiatives like TechJam, a crowdsourcing effort to develop innovative tech solutions for the sport, as well as HCLTech’s role in making Cricket Australia Live the number one sporting app in Australia.

"We are very excited to partner with both HCLTech and Microsoft to create brilliant experiences for our fans by enhancing the CA Live app,” said Nick Hockley, CEO, Cricket Australia. "Our aspiration is to be a world leader in the way sporting codes bring fans closer to the game through digital technologies and we’re thrilled to launch this latest innovation at the CommBank Women's Ashes Day-Night Test.”

Learn more about the partnership: https://news.microsoft.com/source/asia/features/from-grassroots-to-elite-how-cricket-australia-is-scoring-better-digital-experiences-with-ai-and-cloud-technology/

HCLTech is a global technology company, home to more than 220,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of 12 months ending December 2024 totaled $13.8 billion. To learn how we can supercharge progress for you, visit hcltech.com.

Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organisation on the planet to achieve more.

Cricket Australia (CA) is the national governing body for the game of cricket in Australia. Australian Cricket is administered by CA and its members, the six state and two territory associations. Cricket is Australia’s one true national sport with a men’s and women’s team that capture the nation every summer along with two of the biggest domestic competitions in the country – the Weber WBBL and KFC BBL. At an international level, CA was a foundation member of cricket’s world governing body, the International Cricket Council (ICC), and is one of 12 ICC full members.

ISRO and Australian Space Agency ASA Sign Agreement for Gaganyaan Mission

On November 20, 2024, the Indian Space Research Organisation (ISRO) and the Australian Space Agency (ASA) signed an Implementing Arrangement (IA) to strengthen cooperation in space activities. This agreement focuses on crew and crew module recovery for ISRO's Gaganyaan missions. 

ISRO's ambitious human spaceflight programme, Gaganyaan, aims to demonstrate human spaceflight capability in Low Earth Orbit with an Indian crew module. The programme includes three un-crewed missions, with the first scheduled for 2024-25.

ISRO & ASA sign Implementing Arrangement for Gaganyaan

The first crewed mission is planned for 2025-27.

The IA enables Australian authorities to support ISRO in search and rescue operations and recovery of the crew module in case of contingencies near Australian waters.

This agreement further solidifies the strategic partnership between India and Australia in space exploration.

It may be recalled that ISRO and the Australian Space Agency (ASA) have had several collaborations over the years, focusing on various aspects of space technology and exploration.

In 2012, ISRO and ASA signed an inter-governmental Memorandum of Understanding (MoU) for cooperation in civil space science, technology, and education. This MoU laid the foundation for future collaborations between the two agencies.

During the Bengaluru Space Expo in 2023, ISRO and ASA facilitated the signing of six Memorandums of Understanding (MoUs) with space technology entrepreneurs from both countries. These MoUs focused on cooperative space flights, product integration, testing, and technology development.

In June this year, NewSpace India Limited (NSIL), a Govt. of India company under the Department of Space and the commercial arm of ISRO and Space Machines Company, an Australian-Indian in-space servicing firm, have signed a landmark Dedicated Launch Service Agreement.

Beside the Govt operated space agencies, private companies and startups from India & Australia have also been collaborating with each other. In September, Australian Space tech company Space Machines Company, and India's Ananth Technologies and Digantaara partnered to conduct cooperative space flights and work together on product integration, testing, and technology development.

Indian space technology startup SatSure also collaborated with Space Machines to develop satellite and AI-based solutions to assist the agricultural, mining, and defense sectors in space[

Another Space technology startups Skyroot Aerospace and Australia's QL Space teamed up to build launch pads in Australia and conduct cooperative mineral exploration flights.

Gurugram-based EV Charger Maker Exicom Tele-Systems Acquiring Australia-based Tritium for $29.6 Million

Gurugram-based Exicom Tele-systems, a leading provider of EV charging solutions in India and Southeast Asia, is acquiring Tritium, an Australian company known for its DC fast chargers. This acquisition will allow Exicom to expand its global footprint in the EV charging market, for USD $29.6 Million (approx. ₹ 248.48 crore) 

With this acquisition Exicom will gain access to Tritium's manufacturing facility in Tennessee, USA, and its engineering center in Brisbane, Australia.

Exicom will pay up to USD 6.13 million between the signing of the agreement and completion of the acquisition, with the remaining USD 23.5 million to be paid at completion, subject to the terms of the agreement. The acquisition is expected to be completed by August 31, 2024.

This move aligns with Exicom's strategic vision to contribute to a sustainable, emission-free future for mobility. By combining their expertise and resources, Exicom and Tritium aim to enhance the adoption of EV infrastructure worldwide.

With Tritium’s established presence in key markets like the USA and Australia, Exicom will be able to expand its global footprint more effectively. This could lead to increased availability of advanced EV charging solutions worldwide.

Exicom Tele-Systems offers a wide range of products, including AC and DC chargers for homes, workplaces, and public spaces.

Founded in 1994, Exicom has deployed over 70,000 chargers across various regions. Their solutions are known for their robustness and ability to operate in harsh environmental and electrical conditions. They also provide batteries, rectifiers, and energy storage solutions, along with installation and maintenance services.

Tritium was founded in 2001 by three engineering graduates from the University of Queensland – Dr. David Finn, James Kennedy, and Dr. Paul Sernia. The company initially focused on developing motor control technology for solar racing cars before shifting its focus to DC fast chargers for electric vehicles.

Tritium is renowned for its advanced DC fast chargers, which are designed to be both powerful and reliable. Its chargers, such as the PK350, can deliver up to 350 kW of power, enabling them to provide up to 350 km (217 miles of range to an EV in just 10 minutes. These chargers are capable of charging any EV on the market, automatically adjusting to the correct power level for each vehicle's battery.

Tritium's chargers are engineered to operate in extreme temperatures, from -35°C to +50°C (-31°Fx to +122°F), making them suitable for various environments. These chargers are designed to maximize space efficiency, with power units that can be located away from the user units. They include standard cable management to reduce hazards and offer custom branding options.

Tritium has sold over 13,000 chargers worldwide and supports a wide range of industries, from highway rest stops to heavy-duty mining vehicles.

Tata Steel and Australia's Monash University Sign MoU to Set Up Sustainability-focused Centre for Innovation

Centre will focus on decarbonisation, resource recovery from sustainable sources, and technologies towards smart manufacturing

Will provide educational and professional opportunities for students and academia, and foster the exchange of knowledge and talent between India and Australia

Tata Steel and Australia’s Monash University have signed a Memorandum of Understanding (MoU) to set up a Centre for Innovation on Environment and Intelligent Manufacturing to collaborate on contemporary global challenges such as decarbonisation, resource recovery from sustainable sources, and technologies for advanced, additive, and data-driven manufacturing. The MoU is a milestone that marks the beginning of the first major research and development collaboration of Tata Steel with an Australian institution.

The collaboration will provide educational and professional opportunities for students and academia, fostering the exchange of knowledge and talent between India and Australia. On a broader scale, this partnership will help the Australian innovation ecosystem build stronger ties with India.

T. V. Narendran, CEO & Managing Director, Tata Steel, said: “As the second largest steel-producing country in the world, India’s role in the global steel industry has gained considerable traction not only in terms of volume and quality but also how we manufacture the world’s favourite alloy. As the oldest steel maker in India, Tata Steel has taken upon itself the responsibility of leading the change towards more sustainable manufacturing practices. Today, we are building a comprehensive ecosystem that involves partners from academia and the world of startups. Our agreement with Monash University, an institute with an impressive reputation in material science and the ability to scale research into market-ready solutions, is an addition to this ecosystem. We look forward to a fruitful partnership that opens new business opportunities and drives technological advancements for the benefit of our people and the planet.”

Professor Doron Ben-Meir, Deputy Vice-Chancellor (Enterprise and Engagement) and Senior Vice-President, Monash University, said: "We are pleased to collaborate with Tata Steel to advance material science and chemical process research. Working with a global industry partner of this stature is an important step to driving the development of vital materials and technologies. The collaboration will draw upon Monash University's world-renowned expertise in industry-facing research and scale-up.”

Professor Mainak Majumder of the Faculty of Engineering and Director of the ARC Research Hub for Advanced Manufacturing with 2D Materials (AM2D), said: “The Centre for Innovation is aligned strategically with our mission of thinking locally, but acting globally, as we strive to create impact for Australian-born science and technology.”

As part of its decarbonisation journey, Tata Steel is seeking innovative ways to achieve its sustainability goals through continuous experimentation, investments in research, technological innovations, and collaborations with various academia, startups, and other reputed organisations. The Company recently signed MoUs with Imperial College London and The Henry Royce Institute to set up Centres of Innovation in the UK focussing on sustainable design and manufacturing, and advanced materials.

Infosys to Transform Australian Telecom Giant Telstra's Software Engineering and IT

Dinesh Rao, Executive Vice President, Co-Head of Delivery, Infosys and Kim Krogh Andersen, Group Executive, Product and Technology, Telstra along with Infosys and Telstra leaders

Infosys has announced a strategic multi-year collaboration with Telstra, Australia's leading telecommunications and technology company. This partnership is set to accelerate Telstra's software engineering and IT transformation journey, aiming to enhance the customer experience significantly.

Leveraging Infosys' AI-first suite of offerings, Infosys Topaz, and cloud suite of offerings, Infosys Cobalt, the collaboration will provide a robust engineering backbone to simplify Telstra's technology landscape. This move is expected to support Telstra's transformation into an innovation-led enterprise.

The collaboration builds on a longstanding relationship between the two companies, with Infosys introducing modern product engineering practices to elevate both customer and employee experiences. Executives from both companies have expressed their commitment to developing the best products and services for Telstra's customers, highlighting the importance of strategic partnerships in the era of Generative AI and digital adoption.

Telstra is Australia's leading telecommunications and technology company, offering a full range of communications services and competing in all telecommunications markets.

The Australian telecommunications company has also been expanding its operations in India. Telstra has established a Global Capability Centre (GCC) in Bengaluru in July 2019. The company has also launched two new innovation and capabilities centres in Pune and Hyderabad, as well as a product engineering lab in Bengaluru. These facilities are part of Telstra's strategy to leverage Indian talent to drive global technology work from India.

Kim Krogh Andersen, Group Executive, Product and Technology, Telstra, said, “Consumers around the world have significantly increased their expectations when it comes to the seamless, digital delivery of their products and services. As we approach the tipping point of Generative AI and an avalanche of digital adoption, strategic partnerships with global leaders such as Infosys are critical to support our shared ambitions for digital leadership.”

Kieran O’Meara, Executive, Software Engineering and IT, Telstra, said, “Telstra and Infosys have been partners for over 20 years, a collaboration that has yielded immense value for both organizations. The renewal of this collaboration reinvents how we work together more strategically for the next wave of change in our industry. With the evolution of software product engineering, open architecture, and next-generation technologies such as AI, together, we will develop the best products and services for Telstra’s customers.”

Salil Parekh, Chief Executive Officer, Infosys, said, “Infosys has a long-standing association with Telstra supporting its many evolutions over the last two decades and we’re excited to work with them on the next chapter of this journey. By leveraging Infosys Cobalt and Infosys Topaz, we can help Telstra accelerate its strategy for growth.”

Anand Swaminathan, Executive Vice President and Global Industry Leader, Communications, Media, and Technology, Infosys, said “Telstra and Infosys stand as trailblazers in technological innovation, united by a shared vision. This collaboration underscores our commitment to delivering innovative cloud and AI-led solutions that will help position Telstra as a leader in this new era.”

Tata Steel Becomes the 1st Indian Steel Co. to Ship Fully Loaded Cargo on B24 Biofuel for Its Raw Material Shipment From Australia to India

Tata Steel has recently announced that it has become the first Indian steel company to complete a full laden leg voyage using B24 biofuel for transporting raw materials from Australia to India.

B24 biofuel is a sustainable marine fuel blend that consists of 24% used cooking oil methyl ester (UCOME) and 76% very low-sulphur fuel oil (VLSFO) 1. This blend is increasingly being used in the maritime sector as a 'plug-and- play' solution to reduce carbon emissions while the industry transitions to lower or zero- carbon alternatives.

This significant achievement by Tata Steel involved importing 1,48,500 metric tons of coal from Gladstone, Australia to Paradip, India, with a 20% reduction in carbon emissions compared to traditional methods.

The vessel, MV Cape XL, embarked on this journey from Gladstone port on April 17, 2024, and successfully berthed at Kalinga International Coal Terminal Paradip Private Ltd. (KICTPPL) on May 8, 2024. The use of B24-grade biofuel, which is a blend of 24% used cooking oil methyl ester (UCOME) and 76% very low sulphur fuel oil (VLSFO), resulted in approximately 565 tons less carbon emission.

This initiative not only demonstrates Tata Steel's commitment to reducing carbon emissions but also sets a new standard for sustainability in the maritime industry. It aligns with the company's ambitious Scope 3 reduction targets and marks a milestone in India's maritime sector. Tata Steel's proactive approach towards sustainable shipping practices is commendable and showcases their alignment with global efforts to combat climate change.

Impact on Tata Steel's overall carbon footprint

Tata Steel's use of B24 biofuel for its raw material shipment is a significant step towards reducing its overall carbon footprint. The company has set ambitious sustainability goals, including a 30% reduction in CO2 emissions by 2030 and a 75% reduction by around 2035, with the ultimate goal of achieving carbon neutrality by 2045.

The successful voyage using B24 biofuel, which resulted in a 20% reduction in carbon emissions for that shipment, contributes to these targets¹. By adopting greener shipping practices and investing in sustainable technologies, Tata Steel is actively working to lower the emission intensity of its steel production.

Moreover, Tata Steel is exploring the transition to green hydrogen-based steel making and other innovative technologies to further reduce emissions³. The company's commitment to climate action is also reflected in its endorsement of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Overall, such initiatives are critical for Tata Steel to meet its carbon footprint reduction targets and align with global efforts to combat climate change. The impact of these measures is expected to be substantial, considering Tata Steel's scale and the steel industry's significant contribution to global CO2 emissions.

Ola Ceases Its Operations in UK, Australia and New Zealand

Ola, the Indian ride-hailing company, has decided to cease its operations in the UK, Australia, and New Zealand. This strategic move is part of the company's focus on strengthening its domestic business in India and preparing for an upcoming initial public offering (IPO).

The company aims to concentrate on the electrification of its fleet and the premiumisation of its offerings for future growth within India. Ola Electric, which is a part of the same parent company, is also preparing for its own IPO and is looking to raise significant funds from its public listing. This decision marks a significant shift in Ola's business strategy, as it had previously expanded to international markets in 2018.

Ola's decision to exit the UK, Australia, and New Zealand markets is primarily driven by a strategic shift to focus on its domestic market in India and the electrification of its fleet. Here are the key reasons for their exit:

Ola is concentrating on strengthening its business in India, which includes the electrification of its fleet with electric scooters and bike-taxi services. Moreover, the company is preparing for an initial public offering (IPO) and aims to prioritize resources for this significant event.

An industry insider mentioned that the global shift toward electric vehicles would require Ola to significantly increase its investment to transition its existing Fleet.

Ola faced several challenges in the international markets, which contributed to its decision to cease operations in the UK, Australia, and New Zealand.

The ride-hailing industry is complex and evolving, and despite Ola's parent company, ANI Technologies, achieving a valuation of $7.3 billion, the company has yet to report a profit.

The pandemic posed significant challenges for Ola, especially in Australia and New Zealand, where it struggled to maintain its foothold against competitors like Didi Chuxing.

Earlier this year, Ola's valuation was slashed by 30% by U.S. asset manager Vanguard, valuing the company at under $2 billion. In its international markets, Ola was engaged in fierce competition for market dominance against Uber and other local players.

Industry experts have expressed doubts about the appetite for electric two-wheelers in many countries outside of India and China, which could impact Ola Electric's expansion plans.

These challenges highlight the difficulties Ola faced in sustaining its international operations and underscore the reasons behind its strategic shift to focus on the Indian market.

Ola has started sending out notifications to users and drivers about the impending closure of operations. In Australia, for instance, operations are set to cease from April 12. Users will no longer be able to book rides, and drivers are asked to stop taking bookings under Ola's permits from that date. Drivers have been instructed to remove all Ola-related labels and stop using Ola materials. They must also destroy any copies of Ola permits they may have.

This transition phase is crucial for both users and drivers as they will need to find alternative ride-hailing services or employment opportunities respectively. Ola's communication to its stakeholders is aimed at ensuring a smooth transition as it winds down its operations in these countries.

Infosys and TTV Launch Junior Leaders Program

Junior Leadership Program to empower the next generation of young leaders through immersive digital learning opportunities

Infosys has launched a new initiative for Infosys Springboard with Table Tennis Victoria to nurture young leaders from within the sport.

Founded in 1925, Table Tennis Victoria (TTV) is the State Sporting Organisation for the Sport of Table Tennis in Victoria, Australia.

The Junior Leadership program offers promising young leaders an immersive learning experience to enhance their digital skills and community awareness. Participants will leverage a bespoke version of Infosys Springboard, the company’s digital learning and collaboration platform, to learn important skills such as inclusion, leadership, technology, and design thinking.

The Program's participants will be selected from a cohort of over 700 competitive and recreation players under the age of 18 from both metropolitan and regional Victoria. Participants will spend a day at the Infosys Living Lab in Melbourne, with hands on learning experiences across the Metaverse, Artificial Intelligence, Virtual Reality, and how these technologies are shaping sports, our communities, and the world.

The program will further engage young people in volunteering and community leadership by supporting participants to deliver a table tennis project, in collaboration with their table tennis club, coach, or community organisation.

The program will not only grow the participants’ skills at an individual level but will also guide and grow Table Tennis Victoria in volunteer recruitment, increased female and junior participation, improved tournament structures, and performance pathways. Table Tennis Victoria will use this program as a foundation to establish a junior advisory committee in line with meeting the child safe standard of empowering young people. The first cohort of junior leaders will participate in the program in April 2024.

Ashok Mysore, Vice President, Infosys and Regional Head, Delivery and Operations, Australia and New Zealand said, "We are excited to collaborate with Table Tennis Victoria. Through a bespoke version of our digital learning and collaboration platform, Infosys Springboard, and our Living Lab in Melbourne, budding leaders in Victoria will have access to important digital and leadership skills.”

Andrew Weiss, Chief Executive Officer (interim), Table Tennis Victoria said, “In table tennis we are always looking for new ideas to improve and develop the sport across Victoria. Creating a Junior Leadership Program allows the youth of our sport to take on more responsibilities and have more of an influence on how we operate, bringing a fresh new perspective on how we do things. This program in collaboration with Infosys will give our younger generation the opportunity to voice their thoughts and opinions about what young people really want in the sport, giving them a seat at the table.”

Molina Asthana, Board Member, Table Tennis Victoria said, "We are delighted to collaborate with Infosys, and look forward to seeing the next generation of leaders from our Table Tennis community advance their skills using the Infosys Springboard digital learning platform.”

About Table Tennis Victoria

Table Tennis Victoria (TTV) is the state governing body for the sport of table tennis in Victoria. TTV is the largest state body in Australia with approximately 60 affiliate members (clubs & associations) and over 4,500 individual annual members (competitive and social registered players).

To learn more, visit: https://www.tabletennisvic.org.au/

Scientists To Run Quantum Computing Simulations Using NVIDIA-based Open Source Platform

Scientists to Run State-of-the-Art Quantum Computing Simulations Using NVIDIA CUDA Quantum Platform, Turbocharged by NVIDIA Grace Hopper Superchips.

NVIDIA has announced that Pawsey Supercomputing Research Centre, an Australian government-supported high-performance computing national facility located in Perth, Australia, will add the NVIDIA® CUDA Quantum platform accelerated by NVIDIA Grace Hopper™ Superchips to its National Supercomputing and Quantum Computing Innovation Hub, furthering its work driving breakthroughs in quantum computing.

Researchers at the Pawsey will leverage CUDA Quantum — an open-source hybrid quantum computing platform that features powerful simulation tools, and capabilities to program hybrid CPU, GPU and QPU systems — as well as, the NVIDIA cuQuantum software development kit of optimized libraries and tools for accelerating quantum computing workflows.

The NVIDIA Grace Hopper Superchip — which combines the NVIDIA Grace CPU and Hopper GPU architectures — provides extreme performance to run high-fidelity and scalable quantum simulations on accelerators and seamlessly interface with future quantum hardware infrastructure.

“High-performance simulation is essential for researchers to address the biggest challenges in quantum computing — from algorithm discovery and device design to the invention of powerful methods for error correction, calibration and control,” said Tim Costa, director of HPC and quantum computing at NVIDIA. “CUDA Quantum, together with the NVIDIA Grace Hopper Superchip, allows innovators such as Pawsey Supercomputing Research Centre to achieve these essential breakthroughs and accelerate the timeline to useful quantum-integrated supercomputing.”

“Pawsey Supercomputing Centre’s research and test-bed facility is helping to advance scientific exploration for all of Australia as well as the world,” said Mark Stickells, executive director at the Pawsey Supercomputing Research Centre. “NVIDIA’s CUDA Quantum platform will allow our scientists to push the boundaries of what’s possible in quantum computing research.”

Australia’s national science agency, CSIRO (Commonwealth Scientific and Industrial Research Organisation), estimates the domestic market opportunity from quantum computing to be worth $2.5 billion annually in revenue, with the potential to create 10,000 new jobs by 2040. Achieving this will require quantum computing to be embedded in other scientific domains, with applications in astronomy, life sciences, medicine, finance and more.

Pushing the Quantum Computing Limits

Pawsey will deploy the system to run quantum workloads directly from traditional high performance computing systems, leveraging their processing power and developing hybrid algorithms that intelligently divide calculations into classical and quantum kernels, using the quantum device to improve computing efficiency. Quantum machine learning, chemistry simulations, image processing for radio astronomy, financial analysis, bioinformatics and specialized quantum simulators will be studied, starting with various quantum variational algorithms. 

Pawsey is deploying eight NVIDIA Grace Hopper Superchip nodes based on NVIDIA MGX™ modular architecture. GH200 Superchips eliminate the need for a traditional CPU-to-GPU PCIe connection by combining an Arm-based NVIDIA Grace™ CPU with an NVIDIA H100 Tensor Core GPU in the same package, using NVIDIA NVLink™-C2C chip interconnects.

This increases the bandwidth between GPU and CPU by 7x compared with the latest PCIe technology. It delivers up to 10x higher performance for applications running terabytes of data, giving quantum-classical researchers unprecedented power to solve the world’s most complex problems.

Pawsey is committed to making the NVIDIA Grace Hopper platform available to the Australian quantum community, as well as its international Partners. 

RIC Australia Successfully Implements Infosys Finacle’s SaaS Offering on AWS for Agricultural Financing

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Regional Investment Corporation (RIC), an Australian Government-backed specialist finance provider for farmers and farm-related small businesses, today announced RIC’s successful implementation of the Finacle Digital Lending Solution Suite in a Software-as-a-Service (SaaS) mode running on AWS.

The transformation project, which included the adoption of the Finacle Online Banking and Finacle Alerts Solution, was completed in just nine months. RIC is now able to offer truly digital financial lending services to its customers in the Australian agricultural sector at significantly lower operating costs and higher self-service capabilities.

The key highlights of RIC’s digital transformation include:

• By choosing a Software-as-a-Service (SaaS) model on AWS, RIC has been able to internalize management of key services, previously provided by a third party. This has led to significant reduction in operating costs and greater efficiencies.
• The new platform, which offers comprehensive API capabilities, has empowered RIC to seamlessly integrate with various service providers across banking, CRM, data lake, and document management providers. With this capability, RIC now has the advantage to implement Federal government mandates much faster than before.
• The Finacle Online Banking Platform, which includes a smart dashboard, is helping RIC offer self-service features to customers, thereby reducing dependencies on customer care support. The new interface provides rich and truly digital functionalities, which has resulted in increased customer satisfaction and enhanced staff engagement.

Chris Rawlins, Executive Director Transformation, Regional Investment Corporation (RIC), said, “At RIC, our mission is to nurture the growth of the Australian farm businesses through affordable loans, while also ensuring their resilience and profitability. With the Infosys Finacle Lending solution, we have a proven technology platform to support the evolving demands of our business and customers, with the agility to roll out new products and regulations as mandated by the Federal Government. The nine-month implementation by the Infosys Finacle team was delivered on schedule and we are impressed by the team’s commitment to facilitate RIC in achieving a smooth transition without any disruptions to our customers."

Sajit Vijayakumar, Chief Business Officer, Infosys Finacle, said, “We are delighted to support RIC in their mission to financially empower the farm businesses in Australia through the Infosys Finacle SaaS platform. This collaboration is yet another testament to Finacle’s commitment to the Australian market, to support financial institutions of all kinds and sizes – banks, credit unions, mutuals and non-banking lenders – on their digital transformation journeys."

Last week, Infosys announced that it is advancing it’s AI footprint at the 2024 Australian Open (AO) with generative AI technologies for fan engagement, player performance, and digital content creation.

Regional Investment Corporation (RIC) is an Australian Government-backed specialist finance provider for farmers and farm-related small businesses. Their loan programs encourage the long-term strength, resilience, and profitability of Australian farm businesses. The RIC was established under the Regional Investment Corporation Act 2018 (RIC Act) with their head office was established in Orange NSW in January 2019. Their key function is to administer farm business loans to strengthen Australian agriculture.

Finacle is an industry leader in digital banking solutions. We are a unit of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys (NSE, BSE, NYSE: INFY). We partner with emerging and established financial institutions to help inspire better banking. Our cloud-native solution suite and SaaS services help banks engage, innovate, operate, and transform better to scale digital transformation with confidence. Finacle solutions address the core banking, lending, digital engagement, payments, cash management, wealth management, treasury, analytics, AI, and blockchain requirements of financial institutions. Today, banks in over 100 countries rely on Finacle to help more than a billion people and millions of businesses to save, pay, borrow, and invest better. For more information, visit www.finacle.com.

TCS Launches 'GoZero Hub' in Australia; To Help Organisations in Net-Zero Carbon Emissions Objectives

Aligning with the central themes of COP28, the TCS GoZero Hub brings together academia and industry to create a leading centre for research, innovation, education, services, and digital solutions towards climate action.

Tata Consultancy Services (TCS) has partnered with Macquarie University to launch the TCS GoZero Hub, a research and innovation centre to guide Australian organisations in their journeys towards net zero carbon emissions.

Aligning with the central themes of COP28, this hub will focus on five core themes – energy transition, carbon management, nature positive future, circular economy and sustainable waste management, and climate adaptation and resilience – and how to limit and prepare for future climate change.

TCS and Macquarie University will collaborate to bring together multi-disciplinary and multi-faceted approaches and ideas from across industry and academia to drive research and innovation that will help enterprises, governments, regulatory bodies, and communities across Australia develop pathways to accelerate the transition to a net-zero future and beyond, while focusing on nature and people.

In addition to providing expertise and advisory services around best practices and technologies to leverage, the TCS GoZero Hub will offer a curated set of proven digital solutions for driving decarbonisation and the circular economy across value chains, and tailor them to every organisation’s unique context, helping them accelerate their net-zero journeys.

The TCS GoZero Hub will also support education pathways, providing relevant skills and knowledge to prepare students for successful, future-focused careers.

Girish Ramachandran, President, TCS Asia Pacific, said, “Innovating to build sustainable futures is something we are extremely passionate about at TCS. We are pleased to launch the TCS GoZero Hub in partnership with Macquarie University. We’re joining forces to create a leading hub of research, innovation, education and solutions that will enable informed decision-making as we move towards a net-zero carbon future.”

Professor S. Bruce Dowton, Vice-Chancellor, Macquarie University, said, "Macquarie University is committed to undertaking world-changing, impactful research, and to generating new knowledge through research and innovation that supports transformational sustainability. Our partnership with TCS, and the launch of the TCS GoZero Hub, will further amplify our impact in exciting new ways as we help to address the global decarbonisation challenge and create a more sustainable, just and equitable society."

Speaking to over 250 leaders from 91 companies across the Asia Pacific region at the recent TCS Summit Asia Pacific 2023, Dr. Andrew Charlton MP, Federal Member for Parramatta, said, “Australia needs to bring together its technology and innovation skills to become a sustainability leader and a significant contributor to a net-zero future. We commend TCS and Macquarie University for leading the charge with the launch of the TCS GoZero Hub. By coming together to support organisations in their decarbonisation journeys, TCS and Macquarie University are showcasing the power of collaboration, which is required to build a better future for both our people and the planet.”

The TCS GoZero Hub will be backed by TCS’s comprehensive suite of over 200 sustainability services and solutions across different industry verticals.

Australian Stock Exchange (ASX) To Implement TCS’ Flagship TCS BaNCS After Failed Blockchain Attempt

Tata Consultancy Services will deploy its global solution TCS BaNCS for Market Infrastructure for the replacement of ASX’s cash equities clearing and settlement platform which services the Australian market.

Australian Securities Exchange Ltd (ASX), an Australian public company that operates Australia's primary securities exchange, has today entered into an agreement with Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) for the delivery of its TCS BaNCS for Market Infrastructure product, which offers a modular technology platform for clearing and settlement services.

TCS will provide a next generation clearing and settlement platform to service the Australian market. ASX will implement TCS’ flagship product TCS BaNCS for Market Infrastructure to enable the transformation.

This comes after ASX abondoned its previous plan to rebuild its software platform with blockchain-based technology. The 6-years-long blockchain-based project to rebuild ASX’s existing platform faced a number of hurdles, including resistance from companies on the platform to use the shared ledger.

The cancellation of earlier blockchain plan came after an independent review by the accounting firm Accenture and an internal review by ASX.

The TCS product will be used to replace ASX’s existing platform for cash equities clearing and settlement. Notably, TCS's software is used by securities exchanges around the world including in Finland and Canada. 

The new platform will be on a state-of-the-art technology stack with TCS BaNCS for Market Infrastructure and is proposed to be implemented in two releases. While the clearing service is expected to be delivered in the first phase, the settlement depository and sub‐register services will follow in the second phase. This staged approach is expected to reduce overall delivery risk and help manage the impact on industry stakeholders.

TCS has proven its execution capabilities for mission-critical projects with its award-winning suite of products and platforms. The agreement with ASX further fortifies its footprint in Australia, one of TCS’ fastest growing geographies, with its strong local partner network, expertise in cutting-edge technologies, investments in research and innovation, and deep domain knowledge of the banking financial services, and insurance sector for over 30+ years. TCS has also been recognized as one of the LinkedIn Top 25 companies and a Top Employer in the region for four consecutive years.

Vivekanand Ramgopal, President, BFSI Products & Platforms, TCS, said, “We are delighted to be ASX’s choice for this transformation. Our selection is an affirmation of our track record in this mission-critical business, continuous investments in our products, and shared vision of how we see the future of Market Infrastructure Institutions in a technology-led world. TCS BaNCS for Market Infrastructure continues to gain traction in the global market with its rich functionality and unique multi-asset class capability across the post-trade value chain. Combined with our fit-for-purpose approach to technology and innovation, this gives us the confidence to deliver a robust future-proof solution stack for the Australian market.”

TCS BaNCS for Market Infrastructure is an industry-first solution designed specifically for central securities depositories (CSDs), central counterparty clearing houses (CCPs), Exchanges, and Central Banks. With an ability to support multiple markets, currencies, and asset classes, it has been adopted by market infrastructure institutions in more than 20 countries.

ASX is one of the largest securities exchanges in the world with a market capitalisation of all listed entities on the ASX reaching AUD $2.5 trillion in FY23. ASX was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006 and is an integrated exchange offering listings, trading, clearing, settlement, technical and information services, technology, data and other post-trade services.

ASX operates markets for a wide range of asset classes including equities, fixed income, commodities and energy. As an integrated exchange, ASX’s activities span primary and secondary market services, including the raising, allocation and hedging of capital flows; trading and price discovery; central counterparty risk transfer; and securities settlement for both the equities and fixed income markets.