Saturday, August 8, 2009
TCS to reduce stake in NPEX to 17%
Tata Consultancy Services Ltd (TCS) is now mulling a reduction of its stake in the Rs 50-crore equity of National Power Exchange (NPEX) from the present 50 per cent to 16.66 per cent.
According to shareholders agreement, TCS is required to prune its majority shareholding before commencement of business, according to sources
Other promoter-partners in the joint venture NPEX are National Thermal Power Corporation (NTPC), National Hydroelectric Power Corporation (NHPC) Ltd and Power Finance Corporation Ltd.
These three PSUs currently hold 16.66 per cent each and would continue to do so under the shareholders' agreement. The agreement also provides for combined private investment to a maximum of 50 per cent.
More India business stories
TCS is free to unload part of its holding to private partners. It is understood that Infrastructure Leasing & Financial Services (IL&FS) could pick up a part of stake in NPEX, which was granted in-principle approval by Central Electricity Regulatory Commission on July 1 to set up and operate the power exchange.
According to shareholders agreement, TCS is required to prune its majority shareholding before commencement of business, according to sources
Other promoter-partners in the joint venture NPEX are National Thermal Power Corporation (NTPC), National Hydroelectric Power Corporation (NHPC) Ltd and Power Finance Corporation Ltd.
These three PSUs currently hold 16.66 per cent each and would continue to do so under the shareholders' agreement. The agreement also provides for combined private investment to a maximum of 50 per cent.
More India business stories
TCS is free to unload part of its holding to private partners. It is understood that Infrastructure Leasing & Financial Services (IL&FS) could pick up a part of stake in NPEX, which was granted in-principle approval by Central Electricity Regulatory Commission on July 1 to set up and operate the power exchange.
Wednesday, August 5, 2009
TCS, Wipro in race for $522 mln rail deal -report
MUMBAI, Aug 3 (Reuters) - Indian technology firms including Tata Consultancy Services (TCS.BO) and Wipro (WIPR.BO) are in pursuit of up to 25 billion rupees ($522 million) outsourcing contract from Indian Railways, the Economic Times said.
State-owned Indian Railways plans to procure a human resources management system and other modules for integrating and automating its payroll, accounting and pension functions, the newspaper said on Monday.
The organisation plans to spend around $1.5 billion over the next 2-3 years on technology, it said.
"We will be coming out with a request for proposal very soon. The idea is to have build-operate-transfer models with the vendors," the paper quoted an unidentified senior railway official as saying.
A spokeswoman for TCS declined to comment on the report, while Wipro officials were not immediately available.
Indian Railways also plans to outsource its train scheduling and management system, in a deal valued at around 4.5 billion rupees, the paper said.
TCS, Wipro and Mahindra Satyam (SATY.BO) are also bidding for this project, it said. ($1=47.9 rupees) (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)
State-owned Indian Railways plans to procure a human resources management system and other modules for integrating and automating its payroll, accounting and pension functions, the newspaper said on Monday.
The organisation plans to spend around $1.5 billion over the next 2-3 years on technology, it said.
"We will be coming out with a request for proposal very soon. The idea is to have build-operate-transfer models with the vendors," the paper quoted an unidentified senior railway official as saying.
A spokeswoman for TCS declined to comment on the report, while Wipro officials were not immediately available.
Indian Railways also plans to outsource its train scheduling and management system, in a deal valued at around 4.5 billion rupees, the paper said.
TCS, Wipro and Mahindra Satyam (SATY.BO) are also bidding for this project, it said. ($1=47.9 rupees) (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)
The Loot in tie-up with TCS, plans 200 outlets by March next
Multi-brand discount chain The Loot on Tuesday said it has entered into an agreement with IT major Tata Consultancy Services (TCS) under which, the Tata Group company will manage the back-end and software support system for the retail chain.
The Loot is also ramping up its retail operations by aiming at a total of 200 outlets by the end of this fiscal, besides, launching two more private labels as it plans to achieve a turnover of Rs 125 crore this fiscal.
“We have just signed the deal with TCS which will cater to our entire support system for points of sale, logistics, online sales and distribution. The software support system will be rolled out within a month,'' The Loot Managing Director Mr Jay Gupta sa id.
He said the tie-up with TCS is a part of the retail chain's three-year investment plan of Rs 100 crore to spruce up back-end operations, in-house training, warehouse upgrade and marketing.
“The TCS contract is under a leased model. It is to get our basics and back-end right for the planned expansion of our retail operations,'' Mr Gupta said.
The Loot had recorded a Rs 75 crore turnover in 2008-09.
“This year we are looking to take it to Rs 125 crore, on the back of new launches and expanding the retail network,'' he added. - PTI
The Loot is also ramping up its retail operations by aiming at a total of 200 outlets by the end of this fiscal, besides, launching two more private labels as it plans to achieve a turnover of Rs 125 crore this fiscal.
“We have just signed the deal with TCS which will cater to our entire support system for points of sale, logistics, online sales and distribution. The software support system will be rolled out within a month,'' The Loot Managing Director Mr Jay Gupta sa id.
He said the tie-up with TCS is a part of the retail chain's three-year investment plan of Rs 100 crore to spruce up back-end operations, in-house training, warehouse upgrade and marketing.
“The TCS contract is under a leased model. It is to get our basics and back-end right for the planned expansion of our retail operations,'' Mr Gupta said.
The Loot had recorded a Rs 75 crore turnover in 2008-09.
“This year we are looking to take it to Rs 125 crore, on the back of new launches and expanding the retail network,'' he added. - PTI
The Loot in tie-up with TCS, plans 200 outlets by March next
Multi-brand discount chain The Loot on Tuesday said it has entered into an agreement with IT major Tata Consultancy Services (TCS) under which, the Tata Group company will manage the back-end and software support system for the retail chain.
The Loot is also ramping up its retail operations by aiming at a total of 200 outlets by the end of this fiscal, besides, launching two more private labels as it plans to achieve a turnover of Rs 125 crore this fiscal.
“We have just signed the deal with TCS which will cater to our entire support system for points of sale, logistics, online sales and distribution. The software support system will be rolled out within a month,'' The Loot Managing Director Mr Jay Gupta sa id.
He said the tie-up with TCS is a part of the retail chain's three-year investment plan of Rs 100 crore to spruce up back-end operations, in-house training, warehouse upgrade and marketing.
“The TCS contract is under a leased model. It is to get our basics and back-end right for the planned expansion of our retail operations,'' Mr Gupta said.
The Loot had recorded a Rs 75 crore turnover in 2008-09.
“This year we are looking to take it to Rs 125 crore, on the back of new launches and expanding the retail network,'' he added. - PTI
The Loot is also ramping up its retail operations by aiming at a total of 200 outlets by the end of this fiscal, besides, launching two more private labels as it plans to achieve a turnover of Rs 125 crore this fiscal.
“We have just signed the deal with TCS which will cater to our entire support system for points of sale, logistics, online sales and distribution. The software support system will be rolled out within a month,'' The Loot Managing Director Mr Jay Gupta sa id.
He said the tie-up with TCS is a part of the retail chain's three-year investment plan of Rs 100 crore to spruce up back-end operations, in-house training, warehouse upgrade and marketing.
“The TCS contract is under a leased model. It is to get our basics and back-end right for the planned expansion of our retail operations,'' Mr Gupta said.
The Loot had recorded a Rs 75 crore turnover in 2008-09.
“This year we are looking to take it to Rs 125 crore, on the back of new launches and expanding the retail network,'' he added. - PTI
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