The Hindu Business Line : Tuesday, February 22, 2005

Subex Systems allots shares to Merrill Lynch
SUBEX Systems has allotted 2,30,769 equity shares of Rs 10 each at a price of Rs 300 each to Merrill Lynch Capital Markets Espana S.A.SV by virtue of conversion of foreign currently convertible bonds (FCCB) of nominal value $1.5 million held by ... More

Patni board okays ADR issue
PUNE: The board of directors of Patni Computer Systems Ltd has approved the proposal to issue American Depository Receipts (ADRs) up to an aggregate amount of $150 million including greenshoe option. The ADR issue will be a primary one ... More

Hexaware stock split
CHENNAI: Hexaware Technologies Ltd said on Monday its board had decided to subdivide each of its shares of face value Rs 10 into five shares of face value Rs 2 each. ... More

TELECOMMUNICATIONS

Metros may be merged with State circles for mobile services
THE Department of Telecommunications is looking at the possibility of merging metro circles, except Delhi, with the respective State circle for cellular service providers in the new unified licence regime. Currently, mobile operators need ... More

MTNL to float Rs 2,000-cr tender for 40 lakh GSM lines
BUOYED by its GSM subscriber additions in the recent months, Mahanagar Telephone Nigam Ltd is readying a jumbo equipment tender for 40 lakh GSM lines — 20 lakh each in Delhi and Mumbai — for its circles of operation. At current ... More

HARDWARE

Agere opens design centre in Bangalore
The company has identified Ethernet as its new area of business. More

SOFTWARE

Approva unveils new version of BizRights
THE Pune-based Approva Corporation, a player in the enterprise controls management software, has introduced a new version of BizRights software, which would help US companies comply with the Sarbanes-Oxley Act. The software that includes ... More

INTERNET

`.in' registrations to touch 2 lakh in 6-8 months
WITH increased demand, the `.in' domain name registration could reach two lakh in the next 6-8 months, according to Mr Amitabh Singhal, acting CEO, National Internet Exchange of India (NIXI). The `.in' domain sign-ups crossed 60,000 within ... More

MERGERS & ACQUISITIONS

Lehman Bros gets 8.5 pc stake in KPIT
THE US-based investment bank Lehman Brothers, which had decided to pick up 8.5 per cent stake in the Pune-based KPIT Cummins Infosystems for a consideration of $8 million, has been allotted 5,70,000 equity shares of Rs 10 each. It has been ... More

DIVERSIFICATION

Innosoft to diversify into infrastructure, to allot shares to Seven Hills
INNOSOFT Technologies has announced its decision to diversify into infrastructure and its plans to allot one million shares to Seven Hills Capital Management based in California on a preferential basis at Rs 10 per share with a lock-in period of ... More

IT-ENABLED SERVICES

Stanchart service centre sees more Scope
SCOPE International, Chennai, one of the global shared service centres of Standard Chartered Group, is contributing a yearly saving of $80 million to the group. The Chennai centre, which was started in 2000 with 200 employees, today employs ... More

OUTLOOK

Canon India eyes 25% growth in 2005
CANON India has said it is eyeing a growth 25 per cent in 2005 to clock revenues of Rs 330 crore, on the back of success across various product categories, especially digital cameras. The company notched revenues of Rs 264 crore in 2004 - a ... More

Mercury bullish on application development
MERCURY Interactive Corporation, provider of business technology optimisation solutions, is bullish on application development in the region, which has emerged as one of the fastest growing markets. The President of Mercury Interactive, Asia ... More