European shares opened slightly lower in early trade, after a weak trading session in Asia. Asian markets finished broadly lower today with shares in China leading the region. The Shanghai Composite is down 6.15% while Hong Kong's Hang Seng is off 1.43% and Japan's Nikkei 225 is lower by 0.32%.
Mining stocks languished in red today with Coal India and NMDC Ltd being the leading losers. According to a leading financial daily, Vedanta is planning to issue non-convertible debentures (NCD) worth Rs 20 bn. The issuance of NCDs is part of the overall debt refinancing of the company to substitute short-term liabilities and to retire higher cost debt. The NCDs are proposed to be listed on BSE. For the quarter ended June 2015, Vedanta's gross debt rose by Rs 17.8 bn to Rs 795 bn on account of funding project payments and temporary working capital requirements, adding that debt levels are reportedly expected to come down in Q2 of 2015-16. Out of the total debt, debt in Indian currency is Rs. 386.16 bn and the balance Rs 409.1 bn in US dollars.
According to a leading financial daily, Wipro has launched a first of its kind Open Data Center - Centre of Excellence (CoE) with the underlying theme of 'Software Defined Infrastructure' (SDI). Wipro's Open Data Center - CoE integrates proprietary and Open Source solutions across all layers including Network, Storage, Compute and Cloud. The Centre of Excellence is aimed at transforming client Data Centers leveraging Wipro's Adoption Framework, comprising of Wipro IP assets including accelerators, tools, migration methodologies and infrastructure automation applications. The CoE also draws from Wipro's significant investments in emerging areas such as Open Stack framework. This is part of Wipro's organization wide initiative to build in house SDI and Open Source solutions. The script of Wipro ended the trading day down by 0.8% on the BSE