The Telegraph
Since 1st March, 1999
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Corporate Briefs

NIIT arm inks $10m BPO deal

NIIT SmartServe, the remote business process management arm of NIIT, has clinched a $ 10 million deal from UK-based Misys Independent Financial Advisory Services (Mifas). Under the five-year deal, NIIT SmartServe and Mifas will set up an advanced quality assurance centre for the latter’s core business processes. The process will be executed out of NIIT SmartServe’s new 560-seat facility in Gurgaon and will help Mifas increase its monitoring and compliance checking capabilities among its 7,000 member independent financial advisors, a release said.

Wipro Infotech

Wipro Infotech, the IT division of $ 715 million Wipro Ltd, has received the gold certification from Cisco Limited, for “relentless pursuit of customer satisfaction, training, support and specialisation requirements” set by Cisco. “The certification is also testimony to Wipro’s expertise in implementing Cisco Solutions in India,” a release said.

Sony Ericsson

Sony Ericsson has unveiled the T 300 triple band colour-screen mobile phone, which will offer customers multimedia applications like imaging, messaging and gaming together.

Altosys pact

Chennai-based Altosys Software Technologies Ltd has entered into a tie-up with FSM Labs Sorocco, USA, to market the latter’s operating software “Realtime Linux” (RT Linux). The company has also entered into a partnership with Turbolinux to distribute Turbolinux range of products in the country, said N. Srinivasan, president of Altosys.


IDBI-Principal Asset Management Company has declared a monthly dividend of Re 0.75 per unit (9 per cent annualised) for October in the Monthly Income Plan and a monthly dividend of Re 0.06 per unit (7.2 per cent annualised) for the Short Term Plan.

Ashok Leyland

Fitch Ratings India has affirmed the AA(Ind) rating assigned to the Rs 25-crore non-convertible debenture programme of Ashok Leyland Limited. The rating outlook remains stable.

Valvoline policy

Valvoline Cummins has tied up with IBP to launch a medical policy for auto mechanics that takes care of their health-related problems. The policy assures Rs 25,000 worth of monetary assistance. The company promises to pay the premium in the first year of the policy, a release said.

ECE Industries

Delhi-based ECE Industries Limited and ThyssenKrupp Elevator AG of Germany have started ThyssenKrupp ECE Krupp Elevator Pvt Ltd as a joint venture company in Delhi.

Alok Industries

Fitch Ratings India has affirmed the F1+(Ind) rating assigned to the Rs 20-crore commercial paper programme of Alok Industries Limited. The rating indicates highest credit quality.

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