I-flex expansion plan
Sitting on a cash reserve of $ 100 million (Rs 480 crore), financial software company I-flex has charted a two-tier acquisition plan under which it has zeroed in on two product companies. “We will be looking at acquisition of both small and medium size product companies with their own IPRs (intellectual property rights) in the banking and finance fields where in the first category, our targets are the companies in the range of $ 4-10 million while in case of the latter, the hunt is for around a $ 100-million company,” chief financial officer Deepak Ghaisas said.
NetXcell has launched the SMS gateway — SmsXcell. With this launch, the SmsXcell SMS gateway gives operators the flexibility of allowing multiple third party providers like content and application developers to connect to its SMS switching gateway without the concern of resource drain.
Sun F&C has declared a dividend of 0.089651 per cent (or Re 0.0089651 per unit on face value of Rs 10) under the daily dividend plan for the week ended September 12.
Ashok Leyland will launch two new range of medium and heavy commercial vehicles this year in an aggressive bid to expand product portfolio and boost sales. Ashok Leyland managing director R. Seshasayee said the first range which would come fitted with the ‘W Series’ of engines on the Japanese ‘Hino’ platform. It will be rolled in October, while the second called ‘Ecomet’ will hit the roads from December this year.
ICICI Pru Life
ICICI Prudential Life has entered into a strategic alliance with Derek O’Brien’s KQ School Advantage for offering life cover to talented kids. Under the arrangement, ICICI Prudential Life reaches out to parents of children who are enrolled in the KQ School Advantage and offer specialised life insurance advice on how to meet the financial needs at each stage of the child’s education.
In a bid to display Indian electronics industry’s prowess at the international fora, Electronics and Computer Software Export Promotion Council (ESC) will send a delegation to electronics show Wescon 2002 to be held in California, USA between September 24-26.
National Thermal Power Corporation (NTPC) has set a new national record in power project construction. It broke its own record by lighting its third 500 MW boiler at Kaniha in just 34 months’ time, an NTPC press release said.
TRF Ltd ratings
Fitch Ratings India has assigned an F1 (Ind) rating to the Rs 15-crore commercial paper programme of TRF Limited. The rating indicates highest credit quality.
Linc Pen & Plastics Ltd has launched the OBG (Oil Based Gel) range of pens.