Bharti Infratel and Reliance Jio Infocomm (Reliance Jio), a subsidiary of Reliance Industries (RIL), after market hours on Tuesday, 4 March 2014, announced the signing of a Master Services Agreement. Under the agreement, Reliance Jio would utilize the telecom tower infrastructure of Bharti Infratel to launch its services across the country. As per the agreement, the pricing would be at 'arm's length,' based on prevailing market rates.
Sanjay Mashruwala, Managing Director, Reliance Jio said, "This agreement is in line with our earlier comprehensive telecom infrastructure sharing arrangement with Bharti Airtel aimed at avoiding duplication of infrastructure, wherever possible, and to preserve capital and the environment. The agreement will help us with the faster roll out of our services across the country."
D S Rawat, CEO - Bharti Infratel said, "We are delighted with this agreement to offer our world-class telecom infrastructure to Reliance Jio. Our vast footprint and high network uptime levels will offer significant synergies of faster access to market and lower operational costs. The agreement would also benefit our existing customers with lower rentals and energy charges as a result of additional sharing. We look forward to a long and mutually beneficial relationship with Reliance Jio."
Oil & Natural Gas Corporation (ONGC) after market hours on Tuesday, 4 March 2014, said that a meeting of the board of directors of the company will be held on 24 March 2014, to consider payment of second interim dividend for the financial year ending 31 March 2014. ONGC fixed 29 March 2014 as record date for determining entitlement of shareholders for payment of second interim dividend. Payment of interim dividend, if declared, shall start from 31 March 2014 onwards to the shareholders, ONGC said.
Tata Consultancy Services (TCS) announced a new partnership with Microsoft Business Solutions (MBS) at the annual Microsoft Dynamics Convergence Conference. Through this strategic partnership, TCS and MBS will collaborate on the development of online and on premise versions of Microsoft Dynamics CRM. TCS is one of the select group of systems integrators to be involved in this development, which is a testament to the company's technical capabilities and deep, working knowledge of Microsoft Dynamics CRM.
As part of this partnership, TCS has developed a state of-the-art development center that will support the upcoming releases and updates to the Microsoft Dynamics CRM Roadmap, namely Mira and Leo. The development center is focused on enhancing the roadmap platform through the development of innovative marketing business applications and enhancements to core technology and mobility platforms. TCS has also invested in a test center which comprises a team of more than 150 highly-skilled engineers. The team is working to identify and create solutions that will improve the user experience, drive process agility and automation, and deliver 'CRM On The Go' capabilities, TCS said in a statement.
"We are proud to partner with MBS on their product development initiatives," said Krishnan Ramanujam, Vice President and Global Head of Enterprise Solutions at TCS. Our expertise and investments in emerging technologies, such as social, mobility, cloud and big data, alongside our knowledge of the Microsoft Dynamics CRM platform, will allow us to deliver superior results for MBS as they continue to drive their leadership in this ever-evolving market."
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The test center also comprises a test lab which offers assurance services for mobility testing and certification. A framework has been developed that tests for functionality, compatibility, performance, security, localization and UX. The test lab focuses on mobile testing across Android, iOS, Windows and RIM devices. This testing is designed to speed time-to-market while ensuring that Microsoft Dynamic CRM delivers the highest level of quality as well as industry leading designs and capabilities.
"In order for our cloud-based services to be successful, we needed a partner who could help us to remain innovative and agile, said Bob Stutz, Corporate Vice President, Microsoft Dynamics CRM. With TCS, we have a strategic partner who can help deliver on that promise for Dynamics CRM. This partnership will provide us with unparalleled access to their in-depth knowledge, talent and delivery excellence model, which allows us to accelerate product delivery while sustaining best-in-class quality standards."
National Aluminium Company (Nalco) turns ex-dividend today, 5 March 2014, for interim dividend of Rs 1.10 per share for the year ending 31 March 2014.
Punjab National Bank said it has sold its entire stake in Credit Information Bureau India (CIBIL) to TransUnion International Inc.(FII).
UPL had acquired a 51% stake in DVA Agro Do Brasil (DVA Agro Brazil), a Brazilian company, from DVA Group, Germany and other shareholders. Subsequently, the name of the company was changed to UPL do Brasil Industria E Comercio de Insumos Agropecuarios S.A. (UPL do Brasil). Now, UPL via its step down wholly owned subsidiary has acquired further shares out of the fresh issue of shares issued by UPL do Brasil and accordingly increased its stake in UPL do Brasil from 51% to 73%. The balance 27% are held by other existing shareholders. UPL do Brasil is engaged in the production, marketing, selling and distribution of crop protection products and specialties in the Brazilian agroehemicals market. It has a formulation plant in Brazil with expansion plans currently under execution to build capabilities in different crop protection product categories, the company said in a statement.
Nitin Fire Protection Industries announced the completion of the buyback offer. The company has bought back 13.46 equity shares by utilizing a total of Rs 7.70 crore (excluding Transaction Costs) which represents 51.67% of the maximum buyback size. Till date, the company has extinguished 10.61 lakh equity shares and are in the process of extinguishing the balance equity shares.
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