TCS, Infosys Technologies, Wipro may see action
India's top three software exporters TCS, Infosys Technologies and Wipro, on Wednesday, 26 August 2009, announced that they have won new outsourcing contracts from British Petroleum (BP) to be delivered over the next five years.
While the companies did not disclose the value of new contracts, media reports suggested that Indian outsourcers are expected to earn revenues in excess of $100 million each over the next few years from BP.
TCS has been selected for ADAM engagements in refining, manufacturing and corporate IT with opportunities across fuel value chain, including upstream and trading.
Infosys Technologies will manage and operate a large portion of business system for BP by providing ADAM services for integrated supply, trading, exploration and production business.
Wipro will provide application development and application maintenance (ADAM) services for BP's fuels value chain and corporate businesses. The deal significantly expands the scope of partnership between Wipro and BP to additional business segments and newer geographies, Wipro said.
Analjit Singh, chairman of drug maker Max India, has reportedly joined hands with hotelier EIH to set up a 100-room five-star hotel in Dehradun under the 'Trident' brand. Singh will own the property, while the Oberoi group will manage it.
Cipla reportedly plans to raise Rs 1500 crore through foreign currency convertible bonds or global depositary receipts to clear debt and finance capital expenditure.
Maytas Infra will reportedly offload its 30% stake in the Rs 600 crore Meerut-Muzaffarnagar highway project to Gayatri Projects and Nagarjuna Construction Company.
Reliance Infratel, a unit of Reliance Communications is reportedly looking to sign a 10-year tower-sharing agreement with Chennai-based telecom operator STel. The deal size is estimated to be 8-10 billion rupees.
The Andhra Pradesh government is reportedly in talks with Hindustan Petroleum Corporation and Oil & Natural Gas Corporation (ONGC) for a strategic partnership to bid for oil and gas fields under NELP VIII.
Sobha Developers reportedly expects to close a private equity deal for one of its properties very soon and is looking to sell some other land parcels to pare its debt-equity ratio.
Escorts is reportedly considering setting up a diesel generator assembly line in Ghana and is scouting for a local partner.
The business process outsourcing arm of Mahindra Satyam reportedly plans to recruit 300 employees by next month for a back office support contract.
TVS Motor Company reportedly sees a 10-15% drop in rural business this year with scanty rainfall hitting farm production. Rural market accounts for about 50% of its business.
While the companies did not disclose the value of new contracts, media reports suggested that Indian outsourcers are expected to earn revenues in excess of $100 million each over the next few years from BP.
TCS has been selected for ADAM engagements in refining, manufacturing and corporate IT with opportunities across fuel value chain, including upstream and trading.
Infosys Technologies will manage and operate a large portion of business system for BP by providing ADAM services for integrated supply, trading, exploration and production business.
Wipro will provide application development and application maintenance (ADAM) services for BP's fuels value chain and corporate businesses. The deal significantly expands the scope of partnership between Wipro and BP to additional business segments and newer geographies, Wipro said.
Analjit Singh, chairman of drug maker Max India, has reportedly joined hands with hotelier EIH to set up a 100-room five-star hotel in Dehradun under the 'Trident' brand. Singh will own the property, while the Oberoi group will manage it.
Cipla reportedly plans to raise Rs 1500 crore through foreign currency convertible bonds or global depositary receipts to clear debt and finance capital expenditure.
Maytas Infra will reportedly offload its 30% stake in the Rs 600 crore Meerut-Muzaffarnagar highway project to Gayatri Projects and Nagarjuna Construction Company.
Reliance Infratel, a unit of Reliance Communications is reportedly looking to sign a 10-year tower-sharing agreement with Chennai-based telecom operator STel. The deal size is estimated to be 8-10 billion rupees.
The Andhra Pradesh government is reportedly in talks with Hindustan Petroleum Corporation and Oil & Natural Gas Corporation (ONGC) for a strategic partnership to bid for oil and gas fields under NELP VIII.
Sobha Developers reportedly expects to close a private equity deal for one of its properties very soon and is looking to sell some other land parcels to pare its debt-equity ratio.
Escorts is reportedly considering setting up a diesel generator assembly line in Ghana and is scouting for a local partner.
The business process outsourcing arm of Mahindra Satyam reportedly plans to recruit 300 employees by next month for a back office support contract.
TVS Motor Company reportedly sees a 10-15% drop in rural business this year with scanty rainfall hitting farm production. Rural market accounts for about 50% of its business.
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