Financial Daily from THE HINDU group of publications
Thursday, January 09, 2003
Markets (Jan. 08)
BL 2501134.24 (+3.65)
BSE Sensex3357.87 (+27.37)
S&P CNX Nifty1089.35 (+7.55)
Dollar (Buy/Sell)47.93/48.06
Gold Std (10 gm)5620 (-40)

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ANNOUNCEMENTS


VXL drops Australian joint venture plan
THIN client maker VXL Instruments Ltd has shelved its plan to set up a joint venture in Australia partnering Optima, as the Australian firm opted out of the proposed venture citing statutory requirements, the Vice-President-Marketing, Mr Amit ... More

Satyam Infoway is now Sify
CHENNAI: Satyam Infoway Ltd has changed its name to Sify Ltd. The company's stockholders at the extraordinary general meeting held on December 9 approved the name change. The symbol for the company's American Depositary Shares traded on ... More

OUTSOURCING


WNS aiming South for third centre
WNS, the business process outsourcing (BPO) company and formerly a 100 per cent subsidiary of British Airways, which has its centres in Pune and Mumbai, is now planning to set up a third centre in the South. The centre would be set up by the ... More

Patni Computers expands BPO business
IT consultancy and solutions provider Patni Computer Systems has said it is expanding its business process outsourcing (BPO) operations by adding two facilities at Pune and Woburn, US at an investment of $8.5 million. Patni currently has a ... More

Outsourcing on fast track — Scope for strategic alliance
India can rapidly address this business space by entering into strategic alliances with global players, who are looking at outsourcing some of the software development work to bring down costs. More

TELECOMMUNICATIONS


Hutch launches group messaging in Karnataka
BANGALORE: Hutch, one of the cellular phones service provider in Karnataka, has introduced group message service in the State. Hutch group messaging will enable subscribers to send in an SMS to a large group of people in one go. The ... More

STOCKS


Megasoft delisting cleared
MUMBAI: Megasoft Ltd has informed the BSE that its AGM held on December 20, 2002 approved extension of Employees' Stock Purchase Plan 1999 to employees of its subsidiary companies. The shareholders also approved delisting of the company's ... More

TAXATION


Pune dealers, HP resolve octroi issue
THE long-drawn battle between the Computer Media Dealers Association (CMDA) and Hewlett Packard India (HP) seems to have to come to an end with HP announcing their Gerographic Initiative Programme, which is linked to octroi. Talking to ... More

HARDWARE


`Give hardware a conducive tax environment'
THE hardware industry in the country may find some tax incentive soon as the Government on Wednesday favoured giving a conducive tax environment to the sector to make it globally competitive. The current tax structure, comprising excise and ... More

SOFTWARE


Magma to set up R&D centre in India
MAGMA, the electronic design automation (EDA) company, which provides tools for chip design, plans to set up an R&D facility in India soon. Recruitment is expected to begin this month, the Chairman and CEO, Mr Rajeev Madhavan, told Business ... More

Covansys to offer supply chain solution
COVANSYS Corporation, a global consulting and technology services company, has announced the availability of the Covansys Secure Supply Chain Solution that enables international companies to meet new business challenges and opportunities posed by ... More

Sierra to distribute VSN software
HYDERABAD: Sierra Atlantic, the application networks company, and VSN International, UK, have entered into an agreement that gives the former all-India distribution rights for VSN's Genstat software package useful for statistical data ... More

MERGERS & ACQUISITIONS


Singapore co to pick up stake in Kshema
THE Bangalore-based software services firm Kshema Technologies has announced that Singapore Computer Systems (SCS) is picking up a 30 per cent stake in the company for $9.2 million. The investment is subject to the approval of the Commerce and ... More

ISPS


Hotwire plans to launch VoIP on January 15
HOTWIRE Internet Pvt Ltd, a bandwidth provider to households and small and medium-sized offices for broadband Internet access, has firmed up plans to launch VoIP (voice over Internet protocol) from January 15. According to Mr Nitin Choudhury, ... More

IT-ENABLED SERVICES


Concerto to make India Gulf hub — Invest $5 m over two years
CONCERTO Software, provider of customer interaction management (CIM) solutions for improving efficiencies of call centres, is planning to invest $5 million in India over the next two years. The move is part of a strategy to make the country ... More

OUTLOOK


Cognizant sees 31% revenue growth
CHENNAI: Cognizant Technology Solutions Corp, in its revenue guidance, has indicated a 31 per cent revenue growth to about $300 million for the calendar year 2003 from the projected revenue of $229 million for 2002, the company said in ... More

PEOPLE


Rajiv Nair quits Microsoft
MR Rajiv Nair, President of Microsoft Corporation India and the first employee of the software giant in the country, has quit the company. A Microsoft spokesperson said Mr Nair is evaluating options of "doing something on his own". Mr Nair ... More

NEW PRODUCTS & SERVICES


Aavanor unveils Hospaa 3
CHENNAI: The Chennai-based Aavanor Systems Pvt Ltd has launched Hospaa 3, an integrated Web application to automate the functioning of a hospital. The application focuses on achieving improvement in the efficiency of healthcare ... More
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