Sundaram Mutual Fund, subsidiary of non-banking finance company Sundaram Finance Ltd, is betting big on its Singapore foray, according to a top company official.
Sundaram Asset Management Singapore, a subsidiary of Sundaram Mutual Fund, received the licence last year for launching the first fund targeting the non-resident Indians, Sundaram Asset Management Company, Deputy CEO, Sunil Subramaniam said.
"We launched the Sundaram India mid-cap scheme (in Singapore) and have mobilised about Rs 65 crore. We are going to launch some of our other schemes there", he told reporters here.
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* RS Software Q1 Net up 47.6% at Rs 16 cr
IT firm RS Software today said its net profit has increased 47.6 per cent to Rs 16.34 crore for the quarter ended June 30, 2014 from Rs 11.07 crore in the year-ago period.
Revenues stood at Rs 98.62 crore in the said quarter, up 9.6 per cent from Rs 89.92 crore in the April-June 2013 quarter, it said in a statement.
"Q1 performance is in line with our expectation and we expect to maintain our growth momentum in rest of the financial year, with focus on our profitability in particular," RS Software India CMD Raj Jain said.
As part of its Indian operations, Subramaniam said, the company has received licence from market regulator SEBI for launching nine products of which six would be launched during the current financial year itself.
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* eChunav.Com launches Android app
Online voting platform eChunav.Com today launched its Android app.
Using the app, users can participate in surveys regarding topics like politics, health and social issues.
"At eChunav, we believe consumers should have more platforms to raise their voices and control over how they want to bring a change in the society. This year, our focus has been on growing our footprint across the country," eChunav.Com Product Manager Malini Das said.
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* Accenture to implement SAP solution at Riverside Utilities
Global consulting major Accenture has been selected by Riverside Utilities to implement and manage a new deployment of the SAP billing application solution.
Riverside Utilities is a franchise of the Central Electricity Supply Utility (CESU), the largest electricity distribution company in Odisha.
As part of the three-year deal, Accenture will assist RUPL to implement and run the new solution, which is designed to improve the accuracy and efficiency of meter readings, and customer billing and collections processes, a statement said.
It will also enable the company to better control electricity leakage and more closely monitor its distribution.
No financial details of the agreement were disclosed.
