Category: Breaking Corporate India Earnings News

Tata Consultancy Services (TCS) is entering into an agreement with Nielsen company, the world’s leading provider of consumer and media information services, for outsourcing a portion of Nielsen’s information technology (IT) and operations functions worldwide.

Under the ten-year deal, valued at US $1.2 billion, TCS will assume responsibility for important IT and operational processes and help Nielsen integrate and centralize multiple systems, technologies and processes on a global scale. TCS also will assume responsibility for certain finance and human resource business processes, which will be executed on new BPO platforms built by TCS.

The implementation of next generation technology platforms and processes will enable faster & enriched information service delivery for Nielsen. TCS will also set up an innovation lab with Nielsen to help the customer conceptualize the next generation of business solutions far its end clients globally.

Read Dalal Street Analysts Exclusive Coverage on TCS stock after Q2 Results.

Larsen & Toubro (L&T) has bagged four contracts valued at Rs 452 crore for projects in Andhra Pradesh. Engineering, procurement & construction (EPC) contract worth Rs 226 crore has been secured from National Thermal Power Corporation (NTPC) for design, engineering, supply and installation of 2 x l600 TPH coal handling plant, for Simhadri super thermal power project, stage-II (2×500 MW).

The bulk materials handling business unit of L&T’s construction division bagged this contract against international competitive bidding. The project is to be completed in 39 months. This project is being executed as a part of NTPC’s expansion plan for the Simhadri. STPP, enhancing the installed capacity from 1000-mega watt (MW) to 2000 MW, by adding 2 units of 500 MW each.

A Rs 93 crore order for engineering, procurement and construction of an underground drainage scheme for Nizamabad Township. The project involves laying 470 km of sewer pipelines, sewage treatment plant and pumping system, to be completed in 24 months.

National Thermal Power Corporation has entered into a memorandum of understanding (MoU) with Heavy Water Board (HWB) department of atomic energy (DAE) Government of India, on 17 October 2007 for transfer of ammonia flue gas conditioning (AFGC) technology to the company for reduction in suspended particulate matter (SPM) for implementation at all its projects.

The MoU also provides for jointly undertaking further research work in collaborative manner with equal participation from the company and HWB for enhancing efficacy of AFGC technology.

As per recent reports, Reliance Energy (REL), Tata Power and NTPC are among the 10 qualified bidders in fray for the 4,000 MW Krishnapatnam ultra mega power plant (UMPP) in Andhra Pradesh, request for proposals (RFPs) will be accepted till 24 October 2007.

Also don’t forget to read about the Reliance Power IPO Scam.

State Trading Corporation of India is a premier international trading house owned by the Government of India. The company trades with almost all the countries of the world. Government holds 91.02% stake in the company.

The board of directors will met to consider a Bonus Issue of the shares. At the current price of Rs 567.55, the scrip trades at a PE multiple of 24.50, based on Q1 June 2007 annualised EPS of Rs 23.08.

FirstSource Solutions, India’s leading BPO has informed us that the board of directos will meet on the 23rd to discuss the proposal for $300 Million ADR / GDR issue of the company.

The financial results for the quarter ended 30 September 2007 shall now be considered by a committee of board of directors at its meeting to be held on 29 October 2007.

FirstSource is the leading bidder for Citigroups CAPTIVE BPO operations in India.

Reliance Energy’s net profit jumped 34.17% to Rs 250.08 crore on 13.65% rise in total Income to Rs 1799.92 crore in Q2 September 2007 over Q2 September 2006.

At the current price of Rs 1723.70, the scrip trades at a PE multiple of 44.45, based on Q1 June 2007 annualised EPS of Rs 38.77.

The scrip outperformed the market by a huge margin in one month to 16 October 2007, soaring 109.78% as against the Sensex’s 22.88% gain. It had also outperformed the market in the past three months, surging 176.50% against the Sensex’s 24.51% rise.

Reliance Energy is planning to come out with Reliance Power IPO to fund Ultramega Power projects in India.