The Telegraph
Since 1st March, 1999
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Corporate Briefs

HCL Perot to invest Rs 30 cr

Anticipating more outsourced work from its global customers, software services company HCL Perot has firmed up plans to invest about Rs 30 crore in upgrading four development centres in the country and overseas over the next 12 months. “We have two major initiatives currently — setting up a development centre in Dallas in the US and upgradation of infrastructure at the existing software development centres at Noida, Bangalore, London and Singapore,” said C. P. Gurnani, COO, HCL Perot.

Canara Bank

Canara Bank has unveiled a new scheme for the small-scale industries, whereby it would sanction a stand-by credit of up to Rs 5 lakh with a repayment period of six years. Unlike in the past when SSIs approached banks for separate term-loan for working capital requirements, the new stand-by credit, in the form of term-loan, would be sanctioned at the time of regular sanction of the working capital to the units, a bank statement said. The sanctioned credit would be valid for one year.

Bhel order

The electronics division of Bharat Heavy Electricals Ltd (Bhel) in Bangalore has bagged a contract from the Madhya Pradesh Electricity Board for supply of advanced automation systems. This is part of the Rs 1,589-crore contract bagged by Bhel for setting up a unit of 500-MW capacity at Sanjay Gandhi thermal power station (Unit-5) at Birsinghpur in MP.

Sahara TV

Tektronix Inc, a video test, measurement, and monitoring company, said that Sahara Sanchar Nigam, the parent company of Sahara TV, has purchased Tektronix video test and measurement instruments for its eight new TV channels and new uplink earth station located in Noida.

IBM Corp

IBM Corporation has announced the completion of $ 2.1-billion acquisition of Rational Software Corporation. In India, Rational Software has offices across six locations, including the metros. According to IDC, rational has a 55 per cent share in the application tools market in India.


Chemithon Engineers Private Limited has commissioned the country’s first dual flue gas conditioning system at unit number 4 of Gujarat Electricity Board’s Ukai thermal power station.

Phillips Carbon

Phillips Carbon Black Limited, an RPG company, has recommended a dividend of 15 per cent for the year ended September 30.

LIC launch

The Life Insurance Corporation has launched Jeevan Bharati, a money back policy with critical illness cover and congenital disability benefits for women in the age bracket of 18-50 years. The policyholder would also be entitled to a pension plan on maturity of the policy after 15-20 years.

Monte Carlo

Monte Carlo has launched the summer range of clothes for both men and women.

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