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Corporate Briefs 27-06-2007

MindTreepact with US firm Everonn IPO Tea auction Marg income CDSL pact Ganesh launch Ind Barath NIIT training Hutch phone

By The Telegraph Online
  • Published 27.06.07

MindTreepact with US firm

MindTree Consulting has tied up with the US-based CIT Group to set up an offshore development centre in Bangalore. The centre will initially employ 75 consultants, who will be responsible for application development and maintenance activities for CIT ’s speciality finance, sales, collaboration and corporate IT systems.

Everonn IPO

Everonn Systems India Ltd, an education and learning solutions company, will enter the capital market with an initial public offering to raise Rs 50 crore. The company will invest Rs 30 crore to set up IT labs in schools across the country. The price band for the issue has been fixed at Rs 125 to Rs 140 per equity share.

Tea auction

Orthodox tea from the garden of M/S Gillanders Arbuthnott & Co Ltd sold for a record amount of Rs 2,540 per kg in the city. Five chests of the orthodox variety were purchased by Raghunath Exports Pvt Ltd through Contemporary Brokers in an auction held on June 25.

Marg income

Marg Constructions has reported a 135 per cent growth in income at Rs 141.85 crore for the year ended March 31 compared with Rs 60.26 crore in the previous fiscal. The net profit after tax increased 265 per cent to Rs 29.91 crore from Rs 8.18 crore a year ago.

CDSL pact

The Central Depository Services (India) Ltd (CDSL) has signed a memorandum of understanding with The Depository Trust & Clearing Corporation (DTCC) of New York. Under the agreement, DTCC and CDSL will set up a mechanism whereby board members, senior management and the staff of both sides will meet regularly to increase mutual understanding and exchange market updates.

Ganesh launch

City-based food and beverage company Ganesh Products Pvt Ltd is planning to enter the Polish market with its basket of pickles, jams, jellies and crushes. The company is also considering launching its products in south and west India this year. Its facility in Howrah produces 2,500 bottles per day and is semi automatic.

Ind Barath

Ind Barath Infra Power has raised Rs 250 crore from Citigroup Venture Capital International Growth Fund for its expansion programme. Motilal Investment Advisors acted as the strategic and financial adviser.

NIIT training

Intel and NIIT has launched a multi-core training curriculum which will be developed jointly. NIIT, along with its training partners, will deploy the curriculum to software developers globally.

Hutch phone

Hutch has launched the Blackberry Curve 8300 smartphone. It is the lightest smartphone and is priced at Rs 24,990.