Mahindra & Mahindra said on July 30 that the company has formed a joint venture with Kinetic Motors for its foray into two-wheeler market. M&M will hold an 80 per cent stake in the JV for Rs 110 crore. The deal will help in capturing share in Indian and global two-wheeler market. Mahindra seemed particularly upbeat about the two-wheeler industry and said that it is the right time to enter two-wheeler business. Anoop Mathur would be the CEO of the joint venture and it would buy-out all Kinetic Motor assets and patents.
Thursday, July 31, 2008
Sraeli Political Lobby Backing Home Grown Taro - July 31 , 2008
Sun Pharma''s proposed takeover of Taro Pharmaceuticals is already facing problems from investors but now it could get worse with the Israeli political lobby backing home grown Taro. In a letter to Israeli Minister of Industry, Trade & Labor, Eli Yishai, the Mayor of Haifa, Yona Yahav has raised concerns that Taro sale will cost 650 jobs in Israel as Sun Pharma might transfer Taro facilities to India. However, in a regulatory filing, Sun Pharma has said it has no plans to close Taro''s Israeli facilities and it is ''committed'' to maintain and enhance Taro plants.
Sun Pharma has alleged that current Taro management is underutilising its facilities and has considerably reduced its investment into R&D. All the government will try to be protect jobs. Sun Pharma will also have to come out in amicable way. Taro promoters have already moved to Israeli courts seeking higher bids from Sun Pharma. CLSA in its latest report has mentioned that Sun Pharma might have to shell out extra from its current offer of $7.75 a share. Though Templeton recently indicated a price of US$20 a share as fair value for Taro acquisition, analysts say with Sun-Taro matter partly in courts and political lobbying for Taro, things might get even worse than anticipated for the Indian pharma company.
Sun Pharma has alleged that current Taro management is underutilising its facilities and has considerably reduced its investment into R&D. All the government will try to be protect jobs. Sun Pharma will also have to come out in amicable way. Taro promoters have already moved to Israeli courts seeking higher bids from Sun Pharma. CLSA in its latest report has mentioned that Sun Pharma might have to shell out extra from its current offer of $7.75 a share. Though Templeton recently indicated a price of US$20 a share as fair value for Taro acquisition, analysts say with Sun-Taro matter partly in courts and political lobbying for Taro, things might get even worse than anticipated for the Indian pharma company.
Wednesday, July 30, 2008
Nalco May Close Orissa Facility - July 30 , 2008
National Aluminium Co (Nalco) is facing a major coal scarcity. Currently, the company is running alumina refinery at half its capacity and likely to be forced to close the unit in a few days if the condition does not improve. The company is making daily cash loss of Rs 2.5 crore due to slashing of production. If the situation continues, the company likely to completely close the 1.6- million-tonne alumina refinery located at Damanjodi in south Orissa in a few days.
The unit, on an average, consumes 2,500 tonnes of coal to produce heat for the refining process. But for last ten days, there is no supply of coal to the unit from the linked mines in Talcher and Brajarajnagar under Mahanadi Coalfields (MCL), which has precipitated the crisis. The company has decreased its refinery operations by more than 50 per cent. From a daily average production of 4,500 tonnes, it is now producing only 2,000 tonnes. The unit, at its present decreased capacity, consumes around 800-900 tonnes coal per day.
The unit, on an average, consumes 2,500 tonnes of coal to produce heat for the refining process. But for last ten days, there is no supply of coal to the unit from the linked mines in Talcher and Brajarajnagar under Mahanadi Coalfields (MCL), which has precipitated the crisis. The company has decreased its refinery operations by more than 50 per cent. From a daily average production of 4,500 tonnes, it is now producing only 2,000 tonnes. The unit, at its present decreased capacity, consumes around 800-900 tonnes coal per day.
Apple Has Set Up An gApologetic Blog - July 30 , 2008
Apple has set up an apologetic blog devoted to solving the problems of its recently launched MobileMe service. It follows a barrage of criticism of the service, which connects Apple devices to e-mail, contacts and online storage.
In posts over the weekend, the firm admitted to fixing "over 70 bugs" but that 10% of e-mail might have been lost for good. It said the problem affected just 1% of customers.
The MobileMe service launched two weeks ago at the same time that the firm rolled out its 3G iPhone. It is Apple''s answer to the new phenomenon of "cloud computing", in which information is stored on a remote server and updated via any device that is hooked into the cloud. But some customers of the new service found that they were unable to send or receive e-mails. Others had issues in synching up their devices. As criticism mounted on the blogosphere, Apple was forced to open up about teething problems with the service. The opening post of its MobileMe blog revealed that the information updates had been ordered by Apple boss Steve Jobs.
In posts over the weekend, the firm admitted to fixing "over 70 bugs" but that 10% of e-mail might have been lost for good. It said the problem affected just 1% of customers.
The MobileMe service launched two weeks ago at the same time that the firm rolled out its 3G iPhone. It is Apple''s answer to the new phenomenon of "cloud computing", in which information is stored on a remote server and updated via any device that is hooked into the cloud. But some customers of the new service found that they were unable to send or receive e-mails. Others had issues in synching up their devices. As criticism mounted on the blogosphere, Apple was forced to open up about teething problems with the service. The opening post of its MobileMe blog revealed that the information updates had been ordered by Apple boss Steve Jobs.
Tuesday, July 29, 2008
Ratan Tata Plans To Revive Daimler - July 29, 2008
Tata Motors, the auto arm of Indian conglomerate Tata, which recently acquired Jaguar and Land Rover, plans to revive luxury car marque Daimler, a media report said on Monday. Ratan Tata, head of the Indian conglomerate that bought the marque as part of its 2.3 billion dollar purchase of Ford''s luxury brands, told investors that he was deciding whether to resurrect the Daimler brand. Tata has earmarked 1 billion pounds to develop new models at the UK-based manufacturers, it added. The auto maker "wants to transform Daimler into a super- luxury marque to compete directly with Bentley and Rolls- Royce.
According to the report, David Smith, chief executive of Land Rover and Jaguar, suggested recently that both Jaguar and Land Rover would be taken further upmarket to the 100,000 pounds plus price bracket. A Tata spokesman said it was too early to say whether Daimler would be part of those plans. Jaguar shares the rights to the Daimler name with Daimler AG, the German car manufacturer created last year when DaimlerChrysler was split up and its American operations were bought by Cerberus Capital Management, the private equity firm. At present the Daimler badge is restricted to the most expensive Jaguar model - the Daimler super Eight, which has a list price of 80,000 pounds.
According to the report, David Smith, chief executive of Land Rover and Jaguar, suggested recently that both Jaguar and Land Rover would be taken further upmarket to the 100,000 pounds plus price bracket. A Tata spokesman said it was too early to say whether Daimler would be part of those plans. Jaguar shares the rights to the Daimler name with Daimler AG, the German car manufacturer created last year when DaimlerChrysler was split up and its American operations were bought by Cerberus Capital Management, the private equity firm. At present the Daimler badge is restricted to the most expensive Jaguar model - the Daimler super Eight, which has a list price of 80,000 pounds.
Ranbaxy launches generic Omeprazole capsules - July 29 , 2008
Ranbaxy Laboratories on July 28 said it has launched the generic version of Omeprazole capsules, used in the treatment of acid related diseases in the US healthcare system. Ranbaxy Pharmaceuticals Inc (RPI), the wholly-owned subsidiary of Ranbaxy Laboratories under an agreement with AstraZeneca Pharmaceuticals has launched an authorised generic of Omeprazole 40 mg capsules in the US.
RPI welcome the opportunity to market an authorized generic of Omeprazole 40 mg capsules that will be commercialised immediately to all classes of trade in the US healthcare system under Ranbaxy lebel. RPI is engaged in the sale and distribution of generic and branded prescription products in the US healthcare system.
RPI welcome the opportunity to market an authorized generic of Omeprazole 40 mg capsules that will be commercialised immediately to all classes of trade in the US healthcare system under Ranbaxy lebel. RPI is engaged in the sale and distribution of generic and branded prescription products in the US healthcare system.
Monday, July 28, 2008
Hackers Get Hold Of Critical Internet Flaw - July 28 , 2008
Internet security researchers have warned that hackers have caught on to a ''''critical'''' flaw that lets them control traffic on the Internet. An elite squad of computer industry engineers that laboured in secret to solve the problem released a software ''''patch'''' two weeks ago and sought to keep details of the vulnerability hidden at least a month to give people time to protect computers from attacks. ''''We are in a lot of trouble,'''' said IOActive security specialist Dan Kaminsky, who stumbled upon the Domain Name System (DNS) vulnerability about six months ago and reached out to industry giants to collaborate on a solution. ''''This attack is very good. This attack is being weaponised out in the field. Everyone needs to patch, please,'''' Kaminsky said.
DNS is used by every computer that links to the Internet and works similar to a telephone system routing calls to proper numbers, in this case the online numerical addresses of websites. The vulnerability allows ''''cache poisoning'''' attacks that tinker with data stored in computer memory caches that relay Internet traffic to its destination. Attackers could use the vulnerability to route Internet users wherever the hackers wanted, no matter what website address is typed into a web browser.
DNS is used by every computer that links to the Internet and works similar to a telephone system routing calls to proper numbers, in this case the online numerical addresses of websites. The vulnerability allows ''''cache poisoning'''' attacks that tinker with data stored in computer memory caches that relay Internet traffic to its destination. Attackers could use the vulnerability to route Internet users wherever the hackers wanted, no matter what website address is typed into a web browser.
NMDC-CMDC To Expedite Work At Chhattisgarh Mine - July 28 , 2008
NMDC-CMDC Ltd, the alliance between State-run National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), has decided to speed up work on Deposit Number 13 of the Bailadila mines in Chhattisgarh. The deposit has around 300 million tonnes (mt) of high-grade iron ore, but as they begin exploration the quantity of minable ore is expected to increase.
The alliance, in which NMDC holds 51 per cent and CMDC the rest, was registered earlier this year. The debt-equity ratio for the proposed investment would be 2:1 and the project will have an annual capacity of 10 mt. The mine will meet the needs of the steel, sponge iron or pellet plants that have been set up or which are likely to come up in the Bastar region of the State. The mine is also hoped to cater to customers outside Chhattisgarh after meeting the State''s requirement and this would include any short-lifted or un-lifted quantities.
The alliance, in which NMDC holds 51 per cent and CMDC the rest, was registered earlier this year. The debt-equity ratio for the proposed investment would be 2:1 and the project will have an annual capacity of 10 mt. The mine will meet the needs of the steel, sponge iron or pellet plants that have been set up or which are likely to come up in the Bastar region of the State. The mine is also hoped to cater to customers outside Chhattisgarh after meeting the State''s requirement and this would include any short-lifted or un-lifted quantities.
Saturday, July 26, 2008
Rolta Included In S&P 2008 Global Challengers List - July 26, 2008
Rolta has been included in the S&P Global Challengers ListTM by Standard & Poor’s (S&P). The S&P Global Challengers ListTM identifies 300 mid-size companies worldwide with a total market capitalization between US$ 1 to 5 Billion and have shown the highest growth characteristics. These companies are supposed to emerge as challengers to the world’s leading companies. Rolta is one of the two companies from India that have made it to this list.
The S&P Global Challengers ListTM of 2008 covers companies from all over the world and is based upon a robust methodology based with consistent standards applied to multiple countries. Two metrics of extrinsic growth – positive three-year share price appreciation and positive three-year sales growth – are used in conjunction with two metrics of intrinsic growth – positive three-year EPS growth and positive three-year employee growth, to arrive at this list.
According to the S&P report “Mid-caps positioned in the markets sweet spot – High growth mid-cap companies possess a strategic advantage relative to firms of smaller or larger sizes, having survived beyond their startup phases and offering stability as well as future growth opportunities. Having overcome the growing up pangs of small firms while possessing room for growth and expansion, mid-caps offer the best potential pool of companies, which could indeed be tomorrow’s leaders.”
According to Mr. K. K. Singh, Chairman & Managing Director, “We are extremely gratified by this recognition. Being selected as one of the two companies from India, that are part of The S&P Global Challengers ListTM 2008, is a further endorsement of our strong platform, cohesive strategies and unique business model, which have enabled us to grow consistently and placed us in an exceptional position to address large opportunities in India and internationally.”
About Rolta:
Rolta is an Indian multinational, which has executed projects in over 40 countries. The Company is in the area of Defence, Government, Infrastructure and Security markets, worldwide. Rolta serves its markets by providing innovative solutions in Geospatial Information Systems (GIS); Engineering & Design Services (EDS); and Enterprise Information & Communications Technology (EICT), which includes Software Development, Advanced Security, Network Management, Oracle Apps, ERP Consulting and Business Intelligence.
Headquarter of the company is in Mumbai, and it employs more than 5,000 professionals with a countrywide infrastructure and international subsidiaries all over the world.
The Company has benchmarked its quality processes with the world''s best quality standards. It is accredited with the prestigious BSI ISO/IEC 27001:2005 certification. Forbes Global has ranked Rolta amongst the "Best 200 Under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor’s. This List identifies 300 mid-size companies worldwide that have a total market capitalization between US$ 1 to 5 Billion and have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth.
The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The Company is also listed on BSE ''A'' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company''s GDR is listed on the Main Board of London Stock Exchange and its FCCB''s are listed on the Singapore Stock Exchange.
The S&P Global Challengers ListTM of 2008 covers companies from all over the world and is based upon a robust methodology based with consistent standards applied to multiple countries. Two metrics of extrinsic growth – positive three-year share price appreciation and positive three-year sales growth – are used in conjunction with two metrics of intrinsic growth – positive three-year EPS growth and positive three-year employee growth, to arrive at this list.
According to the S&P report “Mid-caps positioned in the markets sweet spot – High growth mid-cap companies possess a strategic advantage relative to firms of smaller or larger sizes, having survived beyond their startup phases and offering stability as well as future growth opportunities. Having overcome the growing up pangs of small firms while possessing room for growth and expansion, mid-caps offer the best potential pool of companies, which could indeed be tomorrow’s leaders.”
According to Mr. K. K. Singh, Chairman & Managing Director, “We are extremely gratified by this recognition. Being selected as one of the two companies from India, that are part of The S&P Global Challengers ListTM 2008, is a further endorsement of our strong platform, cohesive strategies and unique business model, which have enabled us to grow consistently and placed us in an exceptional position to address large opportunities in India and internationally.”
About Rolta:
Rolta is an Indian multinational, which has executed projects in over 40 countries. The Company is in the area of Defence, Government, Infrastructure and Security markets, worldwide. Rolta serves its markets by providing innovative solutions in Geospatial Information Systems (GIS); Engineering & Design Services (EDS); and Enterprise Information & Communications Technology (EICT), which includes Software Development, Advanced Security, Network Management, Oracle Apps, ERP Consulting and Business Intelligence.
Headquarter of the company is in Mumbai, and it employs more than 5,000 professionals with a countrywide infrastructure and international subsidiaries all over the world.
The Company has benchmarked its quality processes with the world''s best quality standards. It is accredited with the prestigious BSI ISO/IEC 27001:2005 certification. Forbes Global has ranked Rolta amongst the "Best 200 Under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor’s. This List identifies 300 mid-size companies worldwide that have a total market capitalization between US$ 1 to 5 Billion and have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth.
The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The Company is also listed on BSE ''A'' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company''s GDR is listed on the Main Board of London Stock Exchange and its FCCB''s are listed on the Singapore Stock Exchange.
Friday, July 25, 2008
Serial Blasts Rock Bangalore
A woman was killed and at least six people were injured in a series of six low-intensity blasts carried out in eastern parts of the information technology capital this afternoon.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
Indian IT Sector Set To Be 2nd Largest - July 25 , 2008
Indian IT industry may be passing through a rough patch because of a slowdown in the US economy and high inflation rates, but this stage will pass. India will continue to drive the global IT market for the next few years. In fact, it will emerge as the second most important IT industry in the world after the US in terms of revenue and employment," says a study. "India will create the second largest IT services labour pool after the US within the next seven to eight years. That''s not all, domestic IT industry''s contribution to our GDP is likely to rise from 0.8% in 2006-07 to 2.65% by 2015-16."
This has been forecasted by a yet to be released white paper ''India''s Role in the Globalization of the IT Industry'' by Evalueserve, a KPO. It says, "by 2015-2016, the number of professionals working in the IT industry will grow ten-fold (from 2001-2002) and the total revenue will grow 22 times. This means, the IT industry is likely to employ 3,750,000 professionals and record $193.1 billion in revenue by 2015-16.
While in the last decade, IT services exports have been growing at 32% annually. Evalueserve estimates this growth rate will taper off and become around 20% in the next seven to eight years. The reason: rising wages, lack of high quality talent, and IT jobs relocating to other low-cost destinations in Eastern Europe and Latin America. The paper thus concludes: First, by 2016 India will have the second highest number of IT professionals in the world after the US.
In fact, US will employ between 1.25 to 1.33 times more professionals than India. Second, even in 2016, the US IT industry will generate approximately $810 billion in annual revenue, which would be almost five times the revenue of the Indian IT industry.
This has been forecasted by a yet to be released white paper ''India''s Role in the Globalization of the IT Industry'' by Evalueserve, a KPO. It says, "by 2015-2016, the number of professionals working in the IT industry will grow ten-fold (from 2001-2002) and the total revenue will grow 22 times. This means, the IT industry is likely to employ 3,750,000 professionals and record $193.1 billion in revenue by 2015-16.
While in the last decade, IT services exports have been growing at 32% annually. Evalueserve estimates this growth rate will taper off and become around 20% in the next seven to eight years. The reason: rising wages, lack of high quality talent, and IT jobs relocating to other low-cost destinations in Eastern Europe and Latin America. The paper thus concludes: First, by 2016 India will have the second highest number of IT professionals in the world after the US.
In fact, US will employ between 1.25 to 1.33 times more professionals than India. Second, even in 2016, the US IT industry will generate approximately $810 billion in annual revenue, which would be almost five times the revenue of the Indian IT industry.
Insurance Market Witnesses Important BPO Deals - July 25 , 2008
Indian outsourcers WNS and HCL Technologies have each acquired separate strategic assets, including the offshore unit of insurance giant Aviva and the financial services division of UK outsourcer Liberata. These deals have highlighted three important trends within the industry: the move away from captives, the increasing focus on the insurance vertical and the maturity of the Indian BPO market.
India-based outsourcer WNS has announced the GBP115 million ($228 million) purchase of Aviva Global Services (AGS), the captive offshore unit of insurance giant Aviva. As part of the acquisition, WNS, which is majority-owned by private equity shop Warburg Pincus, will continue to provide services to Aviva: the two companies inked a 100 month agreement that will provide WNS with approximately $1 billion in service revenue. Soon after this announcement, HCL Technologies, another Indian IT services provider, revealed the acquisition of Liberata Financial Services (LFS), a division of the UK outsourcer that serves the life and pension industry. The deal price was not disclosed, although the fixed assets have reportedly been valued at $2 million.
India-based outsourcer WNS has announced the GBP115 million ($228 million) purchase of Aviva Global Services (AGS), the captive offshore unit of insurance giant Aviva. As part of the acquisition, WNS, which is majority-owned by private equity shop Warburg Pincus, will continue to provide services to Aviva: the two companies inked a 100 month agreement that will provide WNS with approximately $1 billion in service revenue. Soon after this announcement, HCL Technologies, another Indian IT services provider, revealed the acquisition of Liberata Financial Services (LFS), a division of the UK outsourcer that serves the life and pension industry. The deal price was not disclosed, although the fixed assets have reportedly been valued at $2 million.
Thursday, July 24, 2008
Mphasis' Committee Approves Exercise Of Stock Options - July 24, 2008
The ESOP committee of Mphasis has approved the exercise of 75 options under ESOP 2000 plan and 750 options under ESOP 2003 plan.
The terms and time period of exercise of the stock options is as per the relevant ESOP schemes.
The company made this announcement during the trading hours today, 24 July 2008.
The terms and time period of exercise of the stock options is as per the relevant ESOP schemes.
The company made this announcement during the trading hours today, 24 July 2008.
Educomp Solutions To Acquire A-Plus Education Solutions - July 24, 2008
Educomp Solutions has announced the acquisition of a strategic stake in A-Plus Education Solutions. Educomp will invest Rs 10.75 crore over the next two years to acquire a 76% stake in the company.
The company operating under the brand name of purple leap focuses on the area of improving the employability of college graduates.
The company will focus on preparing students currently studying in over 15,000 colleges in the country and will make them workplace ready.
Educomp will leverage its very large customer base across 5 million students in India, going upto 10 million by financial year 09-10, who face a dilemma to decide a career after they graduate from high school.
Educomp will offer best-in-class career options for students so that they are economically empowered as well as are able to feed India's large and growing talent gap.
The company made this announcement during the trading hours today, 24 July 2008.
The company operating under the brand name of purple leap focuses on the area of improving the employability of college graduates.
The company will focus on preparing students currently studying in over 15,000 colleges in the country and will make them workplace ready.
Educomp will leverage its very large customer base across 5 million students in India, going upto 10 million by financial year 09-10, who face a dilemma to decide a career after they graduate from high school.
Educomp will offer best-in-class career options for students so that they are economically empowered as well as are able to feed India's large and growing talent gap.
The company made this announcement during the trading hours today, 24 July 2008.
Western India Shipyard To Announce Financial Results - July 24, 2008
The board meeting of Western India Shipyard will be held on 30 July 2008 to take record on the unaudited financial results for the first quarter ended 30 June 2008.
To issue and allot 48,32,850 equity shares of Rs 2 each fully paid up to the holders of non-convertible debentures pursuant to the order of High Court dated 27 June 2008 aggregating to Rs 96,65,700.
To issue and allot 48,32,850 equity shares of Rs 2 each fully paid up to the holders of non-convertible debentures pursuant to the order of High Court dated 27 June 2008 aggregating to Rs 96,65,700.
Wednesday, July 23, 2008
Strides Arcolab Grants Options - July 23 , 2008
The committee of Strides Arcolab has granted 7,15,000 options under the Strides Arcolab ESOP 2008 at Rs 122.15 per option to few eligible employees of the company. The shares covered by such options are 7,15,000 equity shares.
These options were granted at the committee meeting held on 22 July 2008.
These options were granted at the committee meeting held on 22 July 2008.
Siemens Appoints Additional & Whole-Time Director - July 23, 2008
The board of Siemens has appointed Sunil D Mathur as additional director as well as whole-time director of the company with effect from 22 July 2008.
The board has appointed Stephan Schneider as an alternate director for Hermann Requardt with effect from 22 July 2008.
The board has accepted the resignation of R Upili as whole-time director of the company with effect from 27 July 2008.
This was decided at the board meeting held on 22 July 2008.
The board has appointed Stephan Schneider as an alternate director for Hermann Requardt with effect from 22 July 2008.
The board has accepted the resignation of R Upili as whole-time director of the company with effect from 27 July 2008.
This was decided at the board meeting held on 22 July 2008.
Tuesday, July 22, 2008
Impetus Technologies Is One Of Three Winners For OPD & IT Services - July 22, 2008
Impetus Technologies, Inc. was one of three winners of the prestigious CNBC-TV18 Emerging India Awards in the ICE, IT and ITeS category. The Emerging India Award ceremony recently held in London honors the best small and medium companies in India. From a pool of hundreds of thousands of companies across 17 main categories and a rigorous 3 phase selection process, Impetus stood out due to its flawless reputation of providing high-end product development services to its distinguished Independent Software Vendor (ISV) clients. Known for a 100% focus on providing R&D and development services to ISVs and Technology enabled companies in a White Box Engagement, Impetus has the technical maturity, processes, track record and client centric focus these companies are looking for.
Responding to the nomination, Praveen Kankariya said, "This is the very special achievement for the entire Impetus family. This nomination is recognition of the hard work, sincerity, dedication and innovative approach of each one of our employees. Impetus'' record of client satisfaction has fueled a consistent growth rate of greater than 50% annually. Impetus builds traditional and cutting edge products utilizing the latest and emerging technologies like BREW, Symbian, Ruby on Rails, and J2ME for a diverse client base across domains such as Digital Media, Telecommunications, Healthcare, Mobile Applications, Web2.0, IPTV, and Internet Advertising. The company creates leading edge products that underscore future trends in a wide range of product areas Impetus also offers premium design consulting and product architecture services through an in-house R&D group called iLabs.
Responding to the nomination, Praveen Kankariya said, "This is the very special achievement for the entire Impetus family. This nomination is recognition of the hard work, sincerity, dedication and innovative approach of each one of our employees. Impetus'' record of client satisfaction has fueled a consistent growth rate of greater than 50% annually. Impetus builds traditional and cutting edge products utilizing the latest and emerging technologies like BREW, Symbian, Ruby on Rails, and J2ME for a diverse client base across domains such as Digital Media, Telecommunications, Healthcare, Mobile Applications, Web2.0, IPTV, and Internet Advertising. The company creates leading edge products that underscore future trends in a wide range of product areas Impetus also offers premium design consulting and product architecture services through an in-house R&D group called iLabs.
Software Body Working On Anti-Piracy Task Force - July 22 , 2008
Business Software Alliance is working towards creating an anti-piracy task force in coordination with industry bodies such as FICCI (Federation of Indian Chamber of Commerce and Industry), Nasscom (National Association for Software and Services Companies) and the Government and favours some amendments to the Copyright Act to make it more stringent. The alliance promoted by some leading technology firms, including software companies Adobe, Microsoft, is in talks with both the Central and State Governments to spread awareness against piracy, according to Lizum Mishra, Director of Business Software Alliance (India).
Monday, July 21, 2008
Pinoy It Firm Expands Bpo Service Offering To Canada - July 21, 2008
Homegrown technology conglomerate IPVG announced recently that it has forged a deal with a Canadian company that will allow the two firms to offer call center services for companies based inside and outside of Canada. In a statement released last week, IPVG said it has signed a partnership agreement with Gemma Communications LP (GemmaCom), a call center company based in Ontario, Canada.
Under the terms of the accord, IPVG and GemmaCom will provide English-speaking outsourcing services to GemmaCom customers that have offshore outsourcing requirements. It was agreed GemmaCom will be responsible for promotion and marketing, as well as quality assurance and infrastructure such as dialer and network set-up with its pre-existing outsourcing services. On the other hand, IPVG is tasked to provide call center outsourcing services through its BPO subsidiary, IP Contact Center Outsourcing (IPCCO) with its operators, production seats, and network.
Under the terms of the accord, IPVG and GemmaCom will provide English-speaking outsourcing services to GemmaCom customers that have offshore outsourcing requirements. It was agreed GemmaCom will be responsible for promotion and marketing, as well as quality assurance and infrastructure such as dialer and network set-up with its pre-existing outsourcing services. On the other hand, IPVG is tasked to provide call center outsourcing services through its BPO subsidiary, IP Contact Center Outsourcing (IPCCO) with its operators, production seats, and network.
SBI Life Hopes To Achieve Over 100% Growth In New Business - July 21, 2008
SBI Life is looking at reporting over 100% growth in new business in the first quarter of 2008-09 over the same period last fiscal, when the size of the new business amounted to Rs 426 crore.
SBI Life, in West Bengal, is all set to undertake new business worth Rs 580 crore in the current fiscal, up from Rs 300 crore in 2007-08. At the national level, SBI Life is expecting to achieve Rs 8,500 crore of new business and a total business of Rs 10,500 crore in the current fiscal. SBI Life is planning to add around 250 new offices in 2008-09 to the present network of 187 offices across the country. The company''s assets under management stood at 10,493 crore as on March 31, 2008.
SBI Life, in West Bengal, is all set to undertake new business worth Rs 580 crore in the current fiscal, up from Rs 300 crore in 2007-08. At the national level, SBI Life is expecting to achieve Rs 8,500 crore of new business and a total business of Rs 10,500 crore in the current fiscal. SBI Life is planning to add around 250 new offices in 2008-09 to the present network of 187 offices across the country. The company''s assets under management stood at 10,493 crore as on March 31, 2008.
Saturday, July 19, 2008
Visu International's Board Approves Scheme Of Amalgamation & Arrangement - July 19, 2008
The board of Visu International has approved the scheme of amalgamation and arrangement of Visu Films and Visu Communications with Visu international and de merger of non-education division and merging the same with Visu Publication & Media.
This was approved at the board meeting held on 18 July 2008.
This was approved at the board meeting held on 18 July 2008.
Friday, July 18, 2008
UCO Bank scouting foreign partner for proposed subsidiary - July 18, 2008
UCO Bank is scouting for a foreign partner for its proposed subsidiary in financial services segment, in a bid to increase its fee based income. The proposed venture would be a one stop shop for all financial needs of an individual. The venture, among other activities, would undertake selling insurance and mutual fund products of different companies. The state-owned bank would have 49 per cent stake in the venture while the foreign partner would have 26 per cent, as per the present regulations.
It would take 4-5 months to form the venture as the bank is in process of seeking in-principle approval from the RBI and government. The bank will shortly appoint a consultant which would help in scouting the partners as well as working out details of the project. The bank is talking to some consultants like Ernst & Young and Pricewaterhouse Coopers. On its branch expansion, Goel said the bank would open about 126 branches this year.
It would take 4-5 months to form the venture as the bank is in process of seeking in-principle approval from the RBI and government. The bank will shortly appoint a consultant which would help in scouting the partners as well as working out details of the project. The bank is talking to some consultants like Ernst & Young and Pricewaterhouse Coopers. On its branch expansion, Goel said the bank would open about 126 branches this year.
Wipro - Results Press Release - July 18, 2008
Wipro Ltd has informed BSE regarding a Press Release dated July 18, 2008 titled "Wipro records 43% YoY growth in Revenues; Revenue from IT Services at $ 1067 Million, 37% YoY".
Thursday, July 17, 2008
Asian CERC launches Reportsjunction.com - A one stop repository of company data - July 17, 2008
Asian CERC Information Technology Limited (BSE: 530619), a leading provider of cutting edge financial software products and content services has announced the launch of a new website called www.reportsjunction.com. The website is developed to fulfill the latent demand of public documents at one place. It is no less than an ocean of digital documents that offers more than 60,000 documents covering Annual reports & IPO Prospectus since 1995 and offer documents and quarterly results. The product basically targets array of users like Chartered accountants, Company Secretaries, Research organizations, Banks, Stock Brokers, Mutual funds, registered and unregistered portfolio managers, and many more. The product is offered at a subscription price of Rs.4999/- per annum (including Tax) for any 500 downloadable documents. Asian CERC Information Technology Ltd, A Religare Technova Company, is a leading provider of IT services to clients globally. Since two decades, Asian CERC has been providing solutions for dynamic environments where business and technology converge to evolve growth and prosperity.Leveraging on its rich expertise in providing financial content & technological solutions to a wide array of domestic clients, it is now poised to take the next leap by serving offshore clients. Simultaneously it has floated an offshore development center in India, which will cater to clientele spread across the globe. Its development center prides in a state-of-the art infrastructure and a competent workforce comprising of experienced professionals who have worked extensively in the areas of IT services across various Technology platforms and tools. Asian CERC’s solutions encompass the entire spectrum of IT, Investment Software Products and Financial Analysis services.About Religare TechnovaReligare Technova is the umbrella identity for the IT businesses of a large diversified Indian transnational promoter group, pursuing aggressive business interests in Financial Services, Health Care and Wellness, Pharmaceuticals, Aviation and Travel. Other group entities include Religare Enterprises, Fortis HealthCare, Fortis HealthWorld, Ranbaxy Laboratories, SRL Ranbaxy and Regius Aviation. The companies under Religare Technova’s umbrella are Religare Technova IT Services Limited, which provides Enterprise IT Solutions; Religare Technova Business Intellect Ltd, which provides Knowledge Management Solutions; Asian CERC Information Technology Ltd and Capital Market Solutions Pty Ltd, leaders in providing Enterprise Software Solutions to the Capital and Financial markets.Currently with over 1500 employees and presence in over 10 countries, Religare Technova is poised to be a leader in the global IT space. Religare Technova delivers a broad portfolio of information technology and business process outsourcing solutions to clients in key verticals such as Banking and Financial Services, Insurance, Capital Markets, Healthcare, Manufacturing, Automotive and Steel amongst others.About Asian CERC Information TechnologyAsian CERC Information Technology Ltd, a Religare Technova Company, is a leading provider of Information Technology solutions to financial securities space. The company has been providing Online Trading Solutions and Financial Content to leading players in the financial securities space and the media for more than 14 years. Asian CERC is an empanelled vendor with NSE, BSE, MCX, NCDEX and NMCE, for providing front office systems for Dealing and Internet trading. Asian CERC’s front office product for dealing and Internet Trading viz. TradeAnywhere has in a short span of time accumulated a market share in excess of 80% in the Internet Trading Segment. Some of its eminent customers being Religare Securities, ICICI Direct, Reliance Money, ILFS Investsmart, Kotak Securities, The Stock Exchange – Mumbai, IDBI Capital, UTI Securities, SBI Caps, Rediff, Indiatimes, Hindustan Times, etc.
ICRA - Press Release - July 17, 2008
ICRA Ltd has informed BSE that ICRA Ltd (ICRA) and Vijaya Bank have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Bank''s loans and its other exposures under the standardized approach of RBI''s New Capital Adequacy Framework for Basel-II. Further the Company has issued a Press Release titled "ICRA in MoU with Vijaya Bank to rate Bank Loans under RBI''s New Capital Adequacy Framework for Basel-II"
Wednesday, July 16, 2008
Ajanta to enter into power saving instrument manufacturing - July 16, 2008
Ajanta is set to enter into power saving instrument manufacturing. The Morbi-based company, which has entered into a range of businesses comprising compact fluorescent lamps CFL, ceramics, snackfood and e-bikes, is now eyeing at launching range of power saving instruments for domestic use. Ajanta Manufacturing Ltd mulls to make an initial infusion of Rs 10 crore for the project. The company will use Korean technology to make the units. Ajanta is mulling to price the power saving instruments ranging from Rs 1000 to Rs 2200.
IFGL Refractories acquires Hofmann entities - July 16, 2008
IFGL Refractories Ltd on July 14 declared the purchase of 96.16 per cent of the share capital of Hofmann Ceramic GmbH of Germany and 100 per cent partnership interest in Hofmann OHG, Germany. IFGL has also purchased 92 per cent of the shareholding of Hofmann Ceramics of Czech Republic and 100 per cent shareholding of Hofmann Ceramics Ltd, UK Hofmann Ceramics Llc, of the US. The acquisition was funded by a loan of €5.3 million got from HSBC Bank Plc, UK. The take over of Hofmann entities will enable IFGL and its subsidiaries in Brazil, China, UK and the US which presently manufacture refractories for iron and steel industries to diversify and meet the foundry industry''s requirements of ceramic filters, refectories and consumables. IFGL is establishing its second continuous casting refractory manufacturing facility at the Kandla SEZ in Gujarat at an investment of Rs 50 crore.
Tuesday, July 15, 2008
Bajaj sets sights on Royal Enfield for patent infringement - July 15, 2008
Eicher group company Royal Enfield might find itself caught in a courtroom drama in the near future, as its new bike is being questioned by Bajaj Auto over possible patent infringement. Yes, you guessed it right it is twin spark plugs yet again leading to another patent war brewing in the beleaguered two-wheeler space. Bajaj Auto has said it will take a closer look at the new Thunderbird TwinSpark. Bajaj holds a patent on twin spark technology and the bike maker has already dragged TVS Motor to court over a similar battle over the TVS Flame a few months ago.
The future of Royal Enfield depends on it, said Siddhartha Lal, MD & CEO, Eicher Motors. That is the importance that Royal Enfield places on its UCE or Unit Construction Engine on the new Thunderbird TwinSpark. RE says that its engine does not infringe on Bajaj''s patent since that patent is just for bikes between 75 and 250 cc while the displacement on the new Thunderbird is 350 cc. The company also feels that since TVS flame is a 125 cc bike the same rules don''t apply in this case. The TVS - Bajaj battle over the twin spark plug technology is still far from over with rulings pending in the High Courts of Chennai, Mumbai for both the patent and defamation suits respectively.
While the Royal Enfield management is adamant that their bike is not contentious any legal issues could not have come at a worse time. The company plans to use this engine technology on its entire lineup as other bikes like the Electra and Bullet also go under the scalpel and is also rolling out a capacity expansion to facilitate this at its Chennai plant.
The future of Royal Enfield depends on it, said Siddhartha Lal, MD & CEO, Eicher Motors. That is the importance that Royal Enfield places on its UCE or Unit Construction Engine on the new Thunderbird TwinSpark. RE says that its engine does not infringe on Bajaj''s patent since that patent is just for bikes between 75 and 250 cc while the displacement on the new Thunderbird is 350 cc. The company also feels that since TVS flame is a 125 cc bike the same rules don''t apply in this case. The TVS - Bajaj battle over the twin spark plug technology is still far from over with rulings pending in the High Courts of Chennai, Mumbai for both the patent and defamation suits respectively.
While the Royal Enfield management is adamant that their bike is not contentious any legal issues could not have come at a worse time. The company plans to use this engine technology on its entire lineup as other bikes like the Electra and Bullet also go under the scalpel and is also rolling out a capacity expansion to facilitate this at its Chennai plant.
HPCL joins hand with CREDA - July 15, 2008
Hindustan Petroleum Corporation Ltd on July 14 inked a memorandum of understanding with Chhattisgarh Government and Chhattisgarh Renewable Energy Development Agency (CREDA) for the formation of alliance company to undertake jatropha plantation on 15,000 plus hectares in the State. CREDA is a State Government body under the Department of Energy appointed for the development of renewable energy sources in Chhattisga rh. According to the MoU, HPCL will hold 74 per cent equity and the rest would be held by CREDA. The bio-diesel would be sold via HPCL retail outlets in Chhattisgarh.
Monday, July 14, 2008
American Health Regulator USFDA - July 14, 2008
American health regulator USFDA has filed a motion in a US court seeking ''certain'' documents from Ranbaxy, amid reports of systematic fraudulent conduct, which the company denied. It has asked the court to order Ranbaxy & Parexel to comply fully with issued subpoenas. Ranbaxy and Parexel have been asked to produce all responsive documents. No legal proceedings has been initiated against us and we continue to co-operate with the Department of Justice. We are planning to file a response to this on the 14th of July. The spokesperson, however, admitted that USFDA had filed a motion in a US court seeking certain documents. The spokesperson refused to disclose as to what the USFDFA was seeking clarifications on from the company. A section of the media has reported that USFDA has taken Ranbaxy to the court for systematic fraudulent conduct and has asked the court to force Ranbaxy to internally review the manufacturing operations.
Geojit Financial Services Informed BSE Regarding - July 14, 2008
Geojit Financial Services Ltd has informed BSE regarding a press release dated July 12, 2008 titled "Geojit Financial Services Q1 revenues up by 13.4%".
Ram Informatics Signs Mou With KEONICS - July 14, 2008
Ram Informatics Ltd has informed that the Company have signed a MoU with Karnataka Electronics Development Corporation Ltd (KEONICS), an enterprise of Karnataka State Government, to provide jointly eGovernance solutions for the state of Karnataka. This association will bring the Company new opportunities in egovernance segment in the state of Karnataka with in near feature. The KEONICS wants to expand their business opportunities in the segments where RAM Informatics Ltd is strong like eGovernance and Banking. This will bring greater strengths and revenues to the Company.
Saturday, July 12, 2008
Nagreeka Capital & Infrastructure's Director Passes Away - July 12, 2008
Nagreeka Capital & Infrastructure has announced that Ishwarlal Patwari, non executive director of the company passed away on 08 July 2008.
The company made this announcement after the trading hours on Friday, 11 July 2008.
The company made this announcement after the trading hours on Friday, 11 July 2008.
Kamdhenu Ispat Executes Joint Venture Agreement With Profab Steel - July 12, 2008
Kamdhenu Ispat has executed joint venture agreement with Profab Steel, a company based in Mumbai, to incorporate a company in the name of Stelex Coating, to set up a project in Wada, District Thana, Maharashtra, to manufacture and market epoxy coated, rust free steel bars.
The company made this announcement after the trading hours on Friday, 11 July 2008.
The company made this announcement after the trading hours on Friday, 11 July 2008.
Friday, July 11, 2008
Bajaj Allianz Life Reports Rs 3 Crore Loss In Q1 - July 11, 2008
Bajaj Allianz Life Insurance Company has witnessed Rs 3 crore loss in the first quarter of ''08-09, against a profit of Rs 31 crore in the previous year. It''s new business premium grew by 16 per cent at Rs 764 crore (Rs 658 crore). Due to an increase in underwriting losses, Bajaj Allianz General Insurance Company Ltd''s profit after tax fell by 46 per cent in the first quarter to Rs 7 crore, against Rs 13 crore in the corresponding quarter the previous year. The company has an underwriting loss of Rs 24 crore, against a profit of Rs 3 crore in the corresponding period last year.
Philippines Trying To Edge India In The BPO Industry - July 11, 2008
Business Process Outsourcing also known as BPO has only been managed by large firms and the Fortune 500 companies, but with the advert of globalization the trends are changing. China and India are the leading outsourcing countries in the world followed by Philippines. However, many American companies who are big players in the international scene are selecting BPO in the Philippines to run their off shore call centers. Unlike other outsourcing hubs of the world, BPO Philippines not only offers a high rate of exchange on its currency as well as an English speaking population but also a culture and lifestyle that is very much like western.
Being a third world country, Philippines still shares a big slice in the success of the business process outsourcing (BPO) industry. The outsourced voiced-based (or call center) remains huge in generating millions of revenue for the country over the past years. And speaking of it, India was the major hub of outsourcing but the Philippines is lobbying seriously to gain the paradigm shift in the outsourcing. When outsourcing began in the Philippines, it became an emerging industry offering systematic technology and never-ending job opportunities to millions of people. The BPO in the Philippines is attributed in the offshore market raking a total of $25.6 billion in 2006, landing third between India and China.
Being a third world country, Philippines still shares a big slice in the success of the business process outsourcing (BPO) industry. The outsourced voiced-based (or call center) remains huge in generating millions of revenue for the country over the past years. And speaking of it, India was the major hub of outsourcing but the Philippines is lobbying seriously to gain the paradigm shift in the outsourcing. When outsourcing began in the Philippines, it became an emerging industry offering systematic technology and never-ending job opportunities to millions of people. The BPO in the Philippines is attributed in the offshore market raking a total of $25.6 billion in 2006, landing third between India and China.
Asarco Workers, Sterlite Sign Agreement - July 11, 2008
The Anil Agarwal-promoted Sterlite Industries Ltd, which in May announced it would buy the operating assets of American copper miner-refiner Asarco LLC for $2.6 billion in an all-cash deal, has reached an agreement with the US company''s labour union on workers'' benefits and fresh investments, a joint statement on Thursday said.
Under the pact, all existing workers'' benefits have been retained, and on its expiry in 2010, will be extended by three more years.The new collective bargaining agreement also contains terms designed to ensure that Asarco''s operations will be improved and made more competitive through fresh investments by Sterlite in all existing operations.
The agreement will come into effect once the proposed acquisition is approved by the bankruptcy court.
Sterlite is a subsidiary of Vedanta Resources plc, the London-based FTSE 100 metal and mining group. Terry Bonds, chairman of the Asarco Union Negotiating Committee, said Sterlite, with its strong experience in the copper business, will strengthen Asarco''s operations for all stakeholders, including employees.
Under the pact, all existing workers'' benefits have been retained, and on its expiry in 2010, will be extended by three more years.The new collective bargaining agreement also contains terms designed to ensure that Asarco''s operations will be improved and made more competitive through fresh investments by Sterlite in all existing operations.
The agreement will come into effect once the proposed acquisition is approved by the bankruptcy court.
Sterlite is a subsidiary of Vedanta Resources plc, the London-based FTSE 100 metal and mining group. Terry Bonds, chairman of the Asarco Union Negotiating Committee, said Sterlite, with its strong experience in the copper business, will strengthen Asarco''s operations for all stakeholders, including employees.
Thursday, July 10, 2008
IVRCL Secures Rs 409-Cr Project - July 10, 2008
IVRCL Infrastructures and Projects Ltd has got an order worth Rs 409.71 crore for investigation, design and execution of lift scheme from Thotapally reservoir to Gouravelly reservoir including tunnel and other allied works from the Government of Andhra Pradesh. The project site is located at Regonda village in Karimnagar district.
I-Power Solutions fixes Book Closure - July 10, 2008
I-Power Solutions India Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from August 16, 2008 to August 25, 2008 (both days inclusive).
Wednesday, July 9, 2008
Launching India''s First Doctor Friendly Software - Made In India For Doctors In India - July 9 , 2008
Novel Medicare Solutions Pvt Ltd, proudly launches Easy Clinic - India''s first Doctor friendly software. Backed with 3 years of R&D Easy Clinic has been developed to seamlessly fit with an Indian doctor''s workflow. Most clinical software focus around better patient care as the primary objective. We consider that to be a by-product. Easy Clinic focuses on the doctor. It is designed to assist the doctor which automatically leads to delivery of better patient care by the doctor. This makes a huge difference in the adoption and usability of Easy Clinic. It enables a doctor to maintain electronic medical records and manage his practice better without being slowed down as a result of using a computer program.
Each aspect of a doctor''s workflow has been thoroughly researched and there are many customisation options in Easy Clinic. For example , ordering investigations and prescribing drugs can be done in less than 10 seconds; clinical notes can be written quickly using self defined shortcuts; and bills to patients can be recorded with a single click . The drugs database in Easy Clinic has been licensed through CIMS India and is updated quarterly. This provides the doctor with the latest drug information at the click of a mouse. Practice management features such as accounting have been designed to suit a doctor rather than an accountant. They are extremely simple and intuitive. For example a doctor can bill a patient with a single click and record expenses using simple voucher entries. Easy Clinic automatically generates their day book, form 3C and other financial reports.
Each aspect of a doctor''s workflow has been thoroughly researched and there are many customisation options in Easy Clinic. For example , ordering investigations and prescribing drugs can be done in less than 10 seconds; clinical notes can be written quickly using self defined shortcuts; and bills to patients can be recorded with a single click . The drugs database in Easy Clinic has been licensed through CIMS India and is updated quarterly. This provides the doctor with the latest drug information at the click of a mouse. Practice management features such as accounting have been designed to suit a doctor rather than an accountant. They are extremely simple and intuitive. For example a doctor can bill a patient with a single click and record expenses using simple voucher entries. Easy Clinic automatically generates their day book, form 3C and other financial reports.
Reliance Retail To Set Up Optical Stores By September - July 9, 2008
Reliance Retail is planning to roll out the first outlet of its optical chain store Vision Express in Bangalore, under a joint venture with Pearle Europe, by September this year. The first store will be launched in Bangalore. Earlier, Reliance Retail had announced that the optical chain would comprise independent stores and stores within Reliance Retail''s other formats such as Hypermart, Super and Wellness.
The new entity would bring world class retail optical stores to India, with a range of private label frames, lenses, sunglasses, contact lenses and solutions. Pearle Europe is a subsidiary of HAL Investments, the European investment subsidiary of HAL Holding NV, an international investment company based in the Netherlands Antilles. It operates 2,200 optical retail stores in 21 countries across Europe and the Middle East. HAL Investments also owns a number of optical retail chains in emerging markets, such as China, Russia, Turkey and Brazil.
CMS Infotech To Change Its Name - July 9, 2008
On 05 July 2008 The board of CMS Infotech has decided to change the name of the company from CMS Infotech to CMS Finvest or any other name approved and granted by the Register of Companies. This was decided at the board meeting held on 05 July 2008.
Tuesday, July 8, 2008
Key Insurance Training For Professionals - July 8, 2008
The Human Resource Development Fund''s banking and financial sector is linking up with the Bahrain Insurance Association to offer training initiatives for Bahrainis.It is sponsoring two insurance qualifications for up to 50 Bahrainis already working in the finance industry at a total cost of around BD150,000.
In conjunction with the Bahrain Institute of Banking and Finance, it is offering a two-year course leading to an associateship of the Chartered Insurance Institute in the UK.In addition, it is working with Ernst & Young to offer a one-year Certified Public Accounting qualification which will see successful candidates certified by the American Institute of Certified Public Accountants.
In conjunction with the Bahrain Institute of Banking and Finance, it is offering a two-year course leading to an associateship of the Chartered Insurance Institute in the UK.In addition, it is working with Ernst & Young to offer a one-year Certified Public Accounting qualification which will see successful candidates certified by the American Institute of Certified Public Accountants.
Sharp Decline In Campus Recruitments - July 8, 2008
There is a 15-20 per cent fall in campus recruitment from second tier engineering colleges in Tamil Nadu this year. According to officials in-charge of placement, such as Mr S. Ganapathy of SRM Engineering College, recruiting companies attribute the fall to the recession in the US as well as poor quality of students. This year, companies have stringent qualification guidelines for decreased intake of students to offset the 30-40 per cent buffer (of students) created from last year''s recruitment. Much of the campus recruitment happens in June; students join the companies next year.
One Month BPO Training For Muslim Students Concludes - July 8, 2008
Noble Education Foundation (NEF) is organizing Convocation Ceremoney for the students of one month Free Training Classes on personality development, communication skills and voice and accent on Monday 7th July 2008 at India Islamic Cultural Centre (IICC), Lodi Road, New Delhi. Mrs Shiela Dixit, Delhi Chief Minister will be the Chief Guest. Oscar Fernandes, Minister of State for Labor & Employment and Zahid Ali Khan, Editor ''Siasat'', Hyderabad, will be the Guests of Honor. Sirajuddin Qureshi, President Noble Education Foundation & India Islamic Cultural Centre will Chair the function.
The organizers said that this program was made possible with cooperation of ''Siasat'' Urdu daily, Hyderabad by providing expert corporate trainers from Relic Consultants. Over 400 students, boys and girls, have participated in the classes in three batches. Several prominent persons and media organizations have appreciated the classes. There has been a lot of enthusiasm among the parents who have seen first such selfless service in the capital.
The organizers said that this program was made possible with cooperation of ''Siasat'' Urdu daily, Hyderabad by providing expert corporate trainers from Relic Consultants. Over 400 students, boys and girls, have participated in the classes in three batches. Several prominent persons and media organizations have appreciated the classes. There has been a lot of enthusiasm among the parents who have seen first such selfless service in the capital.
Monday, July 7, 2008
Investors In The US - July 7, 2008
For investors in the US, the economic wobbles of recent months could spell the onslaught of a recession. But from his skyscraper office in downtown Manila, Danilo Sebastian Reyes, the president of Sitel, a business process outsourcing (BPO) firm that employs some 2,000 people in the Philippines, sees the beginning of boom time. As fuel and food costs continue to soar, forcing corporate cutbacks, more American businesses are looking to save by outsourcing portions of their business abroad. "For the last three months, there''s been an accelerated number of companies that have decided to go into the Philippines," says Mr. Reyes. That means more overseas workers from India to Poland will be fielding calls for Citibank credit card customers or remotely managing Hewlett Packard''s human resources tasks. The Philippines, with some of the highest literacy rates and cheapest wages in Asia, is positioning itself to capture 10 percent of the world''s back office work by 2010, which analysts predict will balloon to a $130 billion industry.
Corporates Sector Reducing Health Insurance - July 7, 2008
Several companies, particularly top IT firms and BPOs, are reducing the health insurance coverage for their staff, owing to sharp rise in premium rates. Taking one step ahead, some corporates have taken away parents of employees from their group insurance scheme, restricting the benefit only to the staff. According to the source, IT companies, which have traditionally offered substantial health covers for their staff as a human resource incentive, are now choosing to cut costs either by introducing a co-payment structure or by doing away with the cover altogether.
The insurance restrictions come in the wake of high claims from parents. Due to their high staff strength, IT, ITeS and BPO companies are the biggest buyers of group policies, followed by other services companies, manufacturers and media houses. Since the beginning of the free pricing regime, insurance companies have raised rates on their group health policies since they no longer require to cross-subsidise it against the more profitable corporate property insurance policies.
In the last 6 months, premium rates have gone up by 25-40 per cent on group health covers but the claims still far outweigh the premium. Insurers still want to have big corporate names as their clients, even at a cost. An insurer accepted renewal of the health cover by a leading IT company for Rs 25 crore in spite of it suffering claims of around Rs 35 crore in the previous year. At present, the health insurance market stands at Rs 4,000 crore in terms of premium of which 40 per cent comes from corporate health insurance.
The insurance restrictions come in the wake of high claims from parents. Due to their high staff strength, IT, ITeS and BPO companies are the biggest buyers of group policies, followed by other services companies, manufacturers and media houses. Since the beginning of the free pricing regime, insurance companies have raised rates on their group health policies since they no longer require to cross-subsidise it against the more profitable corporate property insurance policies.
In the last 6 months, premium rates have gone up by 25-40 per cent on group health covers but the claims still far outweigh the premium. Insurers still want to have big corporate names as their clients, even at a cost. An insurer accepted renewal of the health cover by a leading IT company for Rs 25 crore in spite of it suffering claims of around Rs 35 crore in the previous year. At present, the health insurance market stands at Rs 4,000 crore in terms of premium of which 40 per cent comes from corporate health insurance.
Net Fighting Of BPO Employees - July 7, 2008
It is redefining the way employee unions function. This ''e-union'', that was formed last month on the Internet for BPO employees, does not plan to fight companies and managements the conventional way. That is, through strikes and sloganeering on the streets. Instead, they plan to hit where it hurts the companies most. The e-union plans to talk directly to shareholders so that it affects stock prices. After all, the fear of a downgraded stock price will force companies to set their operations team and its people in order, the union believes. BPO Union, as the new group likes to call itself, also plans to engage clients of companies they are up against and tell them how these companies are repressing their employees.
"Clients should know the negative PR against the vendor could spill over to their own brand. Also, it could affect them if we ever suspend work with the vendor," says the chief of the BPO Union who refused to be named. While they are already very active on the net, and have had hundreds of hits since their inception, the e-union wants to remain anonymous for the time being. That''s because, there is a lot of negativity associated with ''unions'' in India and people have yet to embrace the greater meaning of what a union can be besides its ugly face, which is most visible.
"Clients should know the negative PR against the vendor could spill over to their own brand. Also, it could affect them if we ever suspend work with the vendor," says the chief of the BPO Union who refused to be named. While they are already very active on the net, and have had hundreds of hits since their inception, the e-union wants to remain anonymous for the time being. That''s because, there is a lot of negativity associated with ''unions'' in India and people have yet to embrace the greater meaning of what a union can be besides its ugly face, which is most visible.
Friday, July 4, 2008
Punj Lloyd Gets GVK Power Contract - July 4, 2008
Engineering major Punj Lloyd Ltd on July 3 declared it has secured a Rs 1,005-crore contract from GVK Power Ltd. Under the contract, Punj Lloyd will execute the balance of plant work (BOP) and the civil work for the 540 MW Govindwal Sahib coal-fired thermal power project in Punjab. The project will be finished by mid 2011, the filing added. Earlier, Punj Lloyd had secured Rs 823-crore project from Rajasthan Vidhyut Utpadan Nigam for civil works in 2x250 MW Chhabra Thermal Power station on EPC basis.
RIL Sends Fresh Letter To RCOM, MTN - July 4, 2008
The fight between the Ambani siblings flared up, with Mukesh Ambani-led RIL on July 3 shooting off another letter to RCOM and MTN, who are negotiating a $70 billion merger deal, invoking non-compete agreement.
RIL has invoked the provisions of dispute resolution contained in the non-competition agreement dated January 12, 2006, and has invited RCOM to participate in the process of mutual conciliation prior to commencement of formal arbitration. Reacting to the latest RIL missive, an RCOM said, The second letter from RIL is a sign of desperation and frustration.
The latest RIL communication, a follow up of the letter asserting its Right of First Refusal on majority stake in RCOM, could put up another obstacle in the ongoing negotiations between the South African and Indian firms.
RIL has invoked the provisions of dispute resolution contained in the non-competition agreement dated January 12, 2006, and has invited RCOM to participate in the process of mutual conciliation prior to commencement of formal arbitration. Reacting to the latest RIL missive, an RCOM said, The second letter from RIL is a sign of desperation and frustration.
The latest RIL communication, a follow up of the letter asserting its Right of First Refusal on majority stake in RCOM, could put up another obstacle in the ongoing negotiations between the South African and Indian firms.
Siemens To Manufacture Metro, Train Coaches In India - July 4, 2008
Engineering and electrical goods major Siemens likely to soon establish a facility to manufacture coaches for trains and metros in India, thereby unveiling a completely new business section in the country.
The Indian arm of the German company has nearly finished the take over of land at Aurangabad in Maharashtra to put up a greenfield plant for the manufacture of engineering goods including rolling stock.
The company plans to starts with the manufacture of metro coaches, adding that work on developing the land, which is adjoining the Skoda plant in the Shendra industrial estate in Aurangabad, is hoped to start in a few weeks. The facility will go on stream by the middle of 2009. The initial financial outlay of the new factory, part of what is estimated as a mega-project, is understood to be around Rs 500 crore.
The Indian arm of the German company has nearly finished the take over of land at Aurangabad in Maharashtra to put up a greenfield plant for the manufacture of engineering goods including rolling stock.
The company plans to starts with the manufacture of metro coaches, adding that work on developing the land, which is adjoining the Skoda plant in the Shendra industrial estate in Aurangabad, is hoped to start in a few weeks. The facility will go on stream by the middle of 2009. The initial financial outlay of the new factory, part of what is estimated as a mega-project, is understood to be around Rs 500 crore.
Thursday, July 3, 2008
Glenmark Pharmaceuticals Takes Over Seven Brands In Poland - July 3, 2008
Glenmark Pharmaceuticals Ltd has entered a deal with Iceland''s Actavis and its Polish affiliate Biovena to buy seven pharmaceutical brands in Poland, for an undisclosed sum. Glenmark is eyeing to build a branded business in Central and Eastern Europe.
The acquisition, executed via Glenmark''s Czech subsidiary Medicamenta, will give the Mumbai-based drug company entrance to the Polish market, touted to be the largest pharma market in Central and East Europe.
A large part of the taken over branded generic drugs belong to the central nervous system segment. The marketing and distribution will eventually be handled by Glenmark''s sales force, adding that the company was set to unveil four of its products in the Polish market. Medicamenta will hitherto get all marketing authorisations and trademark rights in Poland for the products, and will sell the products directly to the Polish market via its appointed distributors.
The acquisition, executed via Glenmark''s Czech subsidiary Medicamenta, will give the Mumbai-based drug company entrance to the Polish market, touted to be the largest pharma market in Central and East Europe.
A large part of the taken over branded generic drugs belong to the central nervous system segment. The marketing and distribution will eventually be handled by Glenmark''s sales force, adding that the company was set to unveil four of its products in the Polish market. Medicamenta will hitherto get all marketing authorisations and trademark rights in Poland for the products, and will sell the products directly to the Polish market via its appointed distributors.
Subex & Siemens Successfully Help Leading Telecommunications Service Provider - July 3, 2008
Subex, a leading global provider of operations and business support systems has announced that along with one of its key partners Siemens Information Systems, a world class IT systems integrator and total solution provider, it has successfully implemented its Nikira fraud management product at a leading mobile telecommunications service provider in Vietnam.
As part of the deployment, SISL provided professional services including project management, training and testing, whereas Siemens, Vietnam was the end supplier of service to the customer for Subex''s fraud management system, The joint solution helped the service provider to effectively combat potential fraud across its post-paid, pre-paid, data and roaming services.
As part of the deployment, SISL provided professional services including project management, training and testing, whereas Siemens, Vietnam was the end supplier of service to the customer for Subex''s fraud management system, The joint solution helped the service provider to effectively combat potential fraud across its post-paid, pre-paid, data and roaming services.
ICSA India Secures Work Orders Worth Rs 145.91 Crore - July 3, 2008
ICSA India has secured work orders for a total contract value of Rs 145.91 crore from Uttar Haryana Bijlee Vitaran Nigam, Dakshin Haryana Bijlee Vitaran Nigam and Maharashtra State Electricity Distribution Company and others for supply and erection of 132KV substations and lines, 33/11 KV substations and lines, 11KV substations and lines and also for erection, testing and commissioning of HT, LT, DTRs.
Wednesday, July 2, 2008
Tata Steel Expects To Start Work In A Month - July 2, 2008
Tata Steel, proposing to establish Rs 15,400 crore, 6 million ton integrated greenfield steel plant at Kalinganagar in Orissa, expects to begin the construction work of the project within a month. It has already applied to the state government for mines and has shifted about 700 families out of 1200 families to be displaced by the project in an effort to clear the site for begin of work. The company has asked the assistance of the Orissa government in this regard.
Fidelity Announces New Business Initiative In India - July 2, 2008
Fidelity International on 30 June 2008 announced that it would launch its world-renowned, award winning, online fund platform, FundsNetworkTM in India. FundsNetworkTM will be an open architecture fund platform that will offer online a range of funds from a number of fund houses. It will help intermediaries to grow their business by allowing them to focus on customer acquisition, advice and relationship management. India will be the 5th country in the Fidelity Group to launch FundsNetworkTM, after the U.S., U.K., Germany and Taiwan. In Phase 1, Fidelity on 30 June 2008 launched the Fidelity Advisers Institute, Fidelity''s centre for excellence, for advisers.
LIC to concentrate on other channels of distribution - July 2, 2008
Life Insurance Corporationis concentrating on bancassurance and other alternative channels for business growth. Bancassurance is a way of delivery or sale of insurance products via banks. The insurance major generates a mere two per cent of its business via alternative channels. In comparison, private players get 30 per cent of revenue via these channels. In 2008-09, however, LIC aims to double its first premium income (FPI) from bancassurance to Rs 1,600 crore. In 2008-09, LIC will increase its focus on alternative channels of distribution as a way of reaching out to masses. "The number of policies sold through bancassurance and other channels should grow to 5 per cent of total business, up from 2.1 per cent in 2007-08. While LIC has been catching up on the model of alternative distribution network, for private players this has been a successful business model since a long time. LIC is now looking to join hands with more banks before a private player can grab the opportunity and leverage upon their network. During last year, the Eastern zone recorded maximum business contribution through bancassurance.
Tuesday, July 1, 2008
Home Loans And Auto Financing From Public Sector - July 1, 2008
Home loans and auto financing from public sector State Bank of India would be dearer as the lender has decided to hike interest rates by 50 basis points on all credit linked to prime lending rates. The bank has decided to raise the interest rate by 0.5 per cent on all loans such as home loans and auto loans which are linked to PLR. The revision in PLR came after SBI raised its PLR from 12.25 per cent to 12.75 per cent last week following Reserve Bank''s increasing its key short-term lending rate to banks and the mandatory cash deposits that banks need to keep with the apex bank (CRR) by 0.5 per cent each. State Bank of India in which government has about 60 per cent stake is targeting 40 per cent growth in non-interest income in 2008-09, compared to 28 per cent last fiscal. The bank had lowered its PLR twice in February to 12.25 per cent but decided to raise by 50 basis points last week.
Performance Guarantee Tests Generators And Auxiliaries - July 1, 2008
Larsen & Toubro Ltd has secured a Rs 1,557-crore order for supply of a steam turbine generator of 2 x 800 MW to Sri Damodaram Sanjeevaiah Thermal Power Station at Krishnapatnam, Andhra Pradesh. L&T said this was the first contract for supercritical 800MW steam turbine generator island in the country. The order comprises engineering, pro curement, manufacture and commissioning, besides performance guarantee tests of the generators and auxiliaries. The generators will be sourced by L&T-MHI Turbine Generators Pvt Ltd, a joint venture company set up by L&T and Mitsubishi Heavy Industries (MHI), Japan, for manufacturing supercritical steam turbines and generators in India.
Fidelity International Funds Network Online Fund Platform - July 1, 2008
Fidelity International has unveiled FundsNetwork, an online fund platform in the country. FundsNetwork is a technology-powered solution, which will give mutual fund advisors with business tools that will support transactional and reporting requirements as well as planning and guidance needs. Market development and penetration of mutual funds have been severely limited by the smaller number of agents selling funds especially when compared with the insurance industry''s strength in number of agents. The facility is target to assist intermediaries to grow their business by allowing them to concentrate on customer acquisition, advice and relationship management without being concerned about back office and administration issues. Under the first phase of this initiative, Fidelity Advisers Institute has been unveiled, which will concentrate on business coaching for mutual fund advisers and will offer comprehensive training and development programmes for advisers free of charge. At the same time, mutual fund advisors who are currently selling mutual funds can also avail themselves of other training modules.
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