The Telegraph
Since 1st March, 1999
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Corporate Briefs

TCIL pays Rs 21.6 cr

Telecommunications Consultants India Ltd (TCIL) has presented a dividend cheque for Rs 21.6 crore to the minister for communications and IT, Pramod Mahajan. The corporation had declared a dividend of 150 per cent on increased paid up capital due to bonus issue in the ratio of 1:1.

Infosys centre

The Chandigarh administration has signed a memorandum of understanding with Infosys Technologies Limited for allotting 20 acres of land to the IT major which would be the anchor company of the Chandigarh Technology Park. As per the agreement, Infosys will set up a Rs 100-crore software development centre at the Chandigarh Technology Park in the next five years and would employ up to 2,400 professionals at the campus.

Telenor pact

Telenor UK Limited has entered into a strategic alliance with Delhi-based Estel Communications to supply dedicated IP satellite connectivity for its internet backbone service from India to Europe and North America. Estel Communications chose Telenor because it offered a customised technical solution.

Hind Motors

Hindustan Motors Ltd (HML) has launched its latest model, Pajero, in Kerala. It would be available in the fully imported CBU (completely built unit) and the assembled versions, said G. Balagopal, regional manager, HML. The CBU version of Pajero is priced at Rs 33.8 lakh.

UTI plan

In an effort to expand its reach and augment business, Unit Trust of India (UTI) will set up satellite offices in 17 districts and selected towns. “A UTI officer from that state, who is willing to work at the satellite office will manage the office,” UTI said in a release.

H & R Johnson

Credit rating agency Icra has retained the ‘A 1+’ rating assigned to the Rs 25 crore commercial paper (CP) programme of ceramic tile maker H & R Johnson India. The rating, indicating highest safety in the short term, took into account the stand-by letter of credit issued in favour of HRJ by Indian Overseas Bank for the entire amount of Rs 25 crore.

Wipro Infotech

Wipro Infotech has implemented human resources information system (HRIS) at GlaxoSmithKline Consumer Healthcare India. “This solution automates all internal human resource processes enabling HR personnel to spend maximum time on analysis and decision making,” P. Dwarkanath, director, human resources and administration said.

Whirlpool rating

Credit rating agency Crisil has reaffirmed ‘AAA (FSO)’ rating for the Rs 50 crore non-convertible debenture programme of Whirlpool India Ltd (WIL). “The rating reaffirmation is based on an irrevocable standby letter of credit provided by Standard Chartered Bank to WIL,” a Whirlpool statement said.

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