Financial Daily
from THE HINDU group of publications

Wednesday, April 25, 2001





Financial Performance
VisualSoft posts 117% rise in net
VISUALSOFT Technologies Ltd has recorded a total income of Rs 135.60 crore for the year ended March 31, 2001, registering an increase of 93.06 per cent over total income of Rs 70.23 crore for the year ended March 31, 2000.

Information Technology
Satyam to leverage FSP model for outsourcing
SATYAM Computer Services Ltd has charted a new strategy to move into the emerging IT outsourcing space. The plan involves part of its emerging full solution provider (FSP) model, various application management services and infrastructure management solut ions.

Applitech in deal with S. African co
THE Ahmedabad-based Applitech Software Ltd, which had closed the last fiscal with an unaudited sales of Rs 60 crore and net profit of Rs 21 crore, has signed a joint venture agreement with the $100-million Sharma group of companies headquartered in South Africa.

HP to locate 3 R&D labs in India
HEWLETT-PACKARD Company (HP) is setting up three of its HP Labs, the computing giant's worldwide research laboratories, in India to develop innovative solutions targeted at emerging economies.

Wipro bullish on expansion
IN an economic slump, there are two things that companies cut back on: expenditure in marketing, which is all about long-term investments, and expenditure on acquisitions, which slice away a huge chunk of cash reserves, or consume too much stock in a sto ck-swap ratio when the markets are weak.

Hughes Escorts pact with IIM-K
INDIAN Institute of Management, Kozhikode (IIM-K) has signed an agreement with Hughes Escorts Communications Ltd (HECL) to offer interactive distance learning courses.

SignalTree gets CMM level 5 tag
SIGNALTREE Solutions, a global IT solutions provider with operations in the US and India, on Tuesday announced that it has acquired an SEI-CMM Level 5 process maturity assessment for all its facilities and processes in India.

TCS Asia Pacific HQ in Singapore
NEW DELHI: Tata Consultancy Services (TCS) has announced that it has consolidated its Asia-Pacific operations by establishing its regional headquarters in Singapore.

Intelligroup wins Frost & Sullivan award
HYDERABAD: Intelligroup Asia Ltd (IAL), a wholly-owned subsidiary of the US-based Intelligroup Inc, has been awarded the Strategic Alliance Leadership Award for the application service provider (ASP) market along with its partner Hughes Escorts Communica tions Ltd (HECL) by the global research firm, Frost & Sullivan.

AP to extend tax rebates for IT cos
HYDERABAD: The Andhra Pradesh Government has decided to extend the time limit for allowing rebate in registration charges, stamp duty and transfer of property charges for eligible IT companies for establishing IT parks in the State.

Enterprise solution from Vishwas Soft
KOCHI: The Kochi-based Vishwas Software Exports Pvt Ltd has come out with a totally integrated enterprise management system -- VishSoft micro eRP -- to take of the entire operations of an enterprise.

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