I-flex expansion plan
I-flex Solutions Ltd, which provides integrated IT solutions for financial services industry, plans to set up development centre in US and Asia in the next six to nine months and also plans to establish a branch office in Japan soon. “We are looking at setting up development centres in Asia and the US to offer a comfort factor to our customers there. We hope to set up the centres over the next 6-9 months,” Rajesh Hukku, chairman and managing director of I-flex said. He said the proposed development centre will be engaged in developing software for customers.
Total Plastic Solutions Pvt Ltd (a company set up by a group of professionals who were earlier with Philips India Limited, Enabling Technologies Group, Calcutta unit) has inaugurated its factory in the city. Total Plastic has acquired all the plant and machineries including the infrastructure of the Philips ETG Calcutta unit.
Videocon International Limited has launched its Diwali scheme called ‘Diya Jalao Kismat Chamkao’ scheme. The scheme will continue till November 12. The offer ensures customers will win two assured gifts and also have an option of choosing from a range of products that Videocon plans to launch this Diwali.
Tata Steel will soon strike a strategic alliance with Canadian building construction company, ‘Minean Venture’, to promote houses made of steel in the country.
Sundaram Mutual has announced that no exit load would be applicable for investments above Rs 5 lakh on its debt fund — Sundaram Bond Saver. The new structure will be applicable on all fresh investments made till December 31.
Franklin Templeton India has launched an institutional plan under its income scheme — Templeton India Income Builder Account. The plan is open to the needs of institutional investors who are looking for a sound fixed income investment avenue with a low cost structure. The plan has an expense ratio of 100 bps.
TAKE Solutions has bagged an order from Singapore-based World Sport Nimbus Ltd to handle the supply chain and logistics requirements of the telecast of the ongoing India versus WestIndies cricket series.
National Insurance Company Ltd has registered a growth rate of 21.65 per cent for the first half of the current fiscal, which is the highest among the four public sector general insurance companies. New India Insurance registered a growth of 9.10 per cent, Oriental Insurance grew at 14.98 per cent, while United Insurance grew at 15.18 per cent. The industry average growth was 14.59 per cent during the period under review.