Tech Mahindra, India's fifth-biggest software services exporter, is buying US-based healthcare IT firm CJS Solutions for a value of $110 million. Tech Mahindra said it will make an upfront cash payment of $89.5 million for an 84.7% stake in CJS with the remaining 15.3% to be acquired over three years. CJS specializes in electronic medical records software. 

The IPO offering of Music Broadcast Ltd (MBL) a Jagran company that owns RadioCity FM, was subscribed 51% on the first day of the offer yesterday, with the retail investor portion fully subscribed. The IPO launched amid bullish recommendations from most analysts, who estimated the IPO to be competitively priced. The portion for non-institutional investors was subscribed 3%.

Stock in spotlight: Bharat Financial Inclusion, which on Monday informed investors in an analyst call that 4.5% of its gross loan portfolio is under risk of slipping into bad loans in the fourth quarter, compared to 0.2% the previous quarter. 60% of overdues, the company said, was from UP and Maharashtra, with over 1,000 centres seeing zero repayment since demonetization. 

Photo of the day: A worker sifts coloured powder (gulal) at a factory in Siliguri, which will be sold in packets for Holi. Diptendu Dutta/AFP/Getty Images