To commemorate performance milestones of the company

Our Bureau

ChennaiFeb. 23Cognizant Technology Solutions Corporation will remotely ring the Nasdaq opening bell from its Chennai techno-complex on March 5.

The event is to `commemorate many performance milestones of the company', according to a press release issued by Cognizant, the US-based provider of IT and business process outsourcing services with development centres in India.

Cognizant and Nasdaq will co-host two celebrations in Chennai and New York City at Nasdaq's MarketSite.

Symbolic ceremony

In Chennai, Cognziant will have its management team of Mr Francisco D'Souza (President and CEO) along with Mr Lakshmi Narayanan (Vice-Chairman), Mr R. Chandrasekaran (President and Managing Director, Global Delivery), Mr Gordon Coburn (Chief Financial and Operating Officer) and Mr Raj Mehta (COO, Global Client Services). In the US, it will have its industry practice heads, said a company official.

Cognizant, listed on the Nasdaq since June 1998, reported revenue of $1.4 billion in 2006. In 2004, Cognizant was named to the Nasdaq-100 Index and in November 2006 was selected to join the S&P 500 Index, according to the release.

The Nasdaq Remote Opening Bell ceremony is a recreation of the daily Opening Bell that takes place in the Nasdaq studio. Both the opening and closing bell ceremonies are broadcast live on Nasdaq's Times Square Tower in New York and are televised by global television stations.

Nasdaq will re-create the MarketSite Opening Bell ceremony from Cognizant's facility in India by displaying the electronic podium and traditionally signing into the market at the event. The opening and closing bell events are symbolic ceremonies that represent the open and/or close of the Nasdaq trading day, which brings together investors and market participants from around the world to trade electronically, the release said.

(This article was published in the Business Line print edition dated February 24, 2007)
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