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Business Briefs

Infosys feels war, virus heat

Bangalore, June 14: Software major Infosys today said its clients had resumed their visits, which were cancelled after the SARS outbreak, but cautioned that the fallout of SARS and the Iraq war could affect its business during the current fiscal. “Client visits and project visits have started,” Infosys chief operating officer and deputy managing director S. Gopalakrishnan told shareholders at the company’s 22nd annual general meeting here.

Forex reserves

Mumbai, June 14: India’s foreign exchange reserves swelled by $ 343 million at $ 81,672 million, a record high, during the week ended June 6. Foreign currency assets rose by $ 59 million to $ 77,998 million in the period under review, according to the Reserve Bank of India’s weekly statistical supplement issued here today. The rise is mainly due to fresh inflows and revaluation of non-US currencies, including the euro, against the dollar, analysts said.

GNFC net up

Mumbai, June 14: Gujarat Narmada Valley Fertilizers Company (GNFC) has posted a 24.11 per cent rise in its consolidated net profit at Rs 94.2 crore for the financial year ended March 31, 2003, compared with Rs 75.9 crore recorded in the previous fiscal. The board has recommended a 25 per cent dividend (Rs 2.5 per share), the Gujarat-based company said in a release here today.

Hardware panel

New Delhi, June 14: The government will soon set up a task force on IT hardware comprising exclusively of industry members which will suggest measures to make India a global IT hardware destination. “We will set up a hardware task force. It will not be a task force of the government, but will be a taskforce of the industry,” IT minister Arun Shourie said on the sidelines of a ESC award ceremony here.

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