Month: January 2008

State-run Power Grid Corporation of India entered into a shareholder’s agreement with Infrastructure Leasing & Financial Services. The new joint venture company named ‘Powergrid IL&FS Transmission’ has since been incorporated. Both, the company and IL&FS will have 50% stake in the company. The main objective of company is to undertake activities of project development of intra transmission and sub-transmission works for State power utilities, under public-private-partnership route within India and abroad including interconnection with neighboring countries subject to bilateral agreement between the countries.

The joint venture company board in its 1st meeting have approved that the company will broaden its scope of development of transmission projects in India and abroad including interconnection with neighboring countries.

IQMS Software has bagged a contract for the outsourcing of 35 seater equity research on 24*7 basis. The contract value is directly linked to the output of the research work churned by the company.

To meet the requirement, the company has already started the recruitment process for equity research analysts to be stationed at its state of the art center located at Hyderabad. The equity research outsourcing (ERO) set up by the company is going to cater to the requirements of FII’s / FI’s / institutions and mutual funds.

The ERO is getting equipped to do the trend tracking of world markets, Indian markets, sectoral analysis, fundamental and technical analysis in all the active sectors of the markets. The technical know-how for the operations is supported by Mumbai based leading equity research firm Firstcall India equity advisors.

The board of MIC Electronics has accorded its consent to the company for setting-up of subsidiary companies in Singapore and Korea for development and marketing of LED display and lighting related products.

Further, the board has considered and approved the acquisition of two companies, up to 51% equity of a power electronics company to strengthen the LED lighting products business, and up to 74% equity of an entertainment company to build LED based digital theme parks.

Quintegra Solutions has informed us about the launch of its Knowledge Process Outsourcing Services (KPO) with an initial investment infusion of Rs 27 crore consequent to the approval of shareholders at the extra ordinary general meeting held on 10 January 2008. The company plans to set up a new office in Chennai, dedicated to the new vertical, slated to be ready by the end of this quarter March 2008.

The company plans to focus its KPO services on the telecommunication, healthcare and BSFI industries to begin with. The company enjoys strong foothold with the clients in BFSI, telecom, health care in US market, which will continue to be the target for the new segment to start with. Later, the company would expand the services to clients at Europe in the first quarter of next financial year 2008-09.