IBM launches interest-free credit on its products to SMEs

Offerings are provided through IBM India Pvt Ltd to qualified commercial and government customers

IBM launched interest-free credit for buying software products of the company to small and medium businesses in India till December 31.

Credit-qualified businesses can now avail this offer through IBM Global Financing, the company's lending and leasing organisation, it said in a statement. Offerings are provided through IBM India Pvt Ltd to qualified commercial and government customers.

The offer that requires minimum transaction size of $5,000 (Rs2,25,000), with availability based on customer's credit rating, financing terms is valid for all IBM software products including S&S and Services. "Other restrictions may apply", it said.

Said Sapan Jain, Vice President, IBM Global Financing, India/South Asia: "By providing financial resources, small companies will be able to innovate and grow faster."

IBM had announced earlier this year the availability of $1 billion in financing for SMBs globally.

"This initiative will enable mid-market companies to take advantage of advanced technologies such as business analytics, robust network security and cloud capabilities which have previously only been accessible to large enterprise customers," it said.

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Jaiprakash Power profit soars to Rs280.65 crore in Sept

Jaiprakash Power Ventures revenues soared more than two-fold to Rs670.84 crore in the second quarter of current fiscal

Jaiprakash Power Ventures (JPVL) saw more than three-fold jump in profit after tax to Rs280.65 crore in the three months to September 2011.

The company, part of diversified Jaypee Group, had raked in a profit of Rs86.98 crore in the year-ago period, it said in a statement.

Revenues soared more than two-fold to Rs670.84 crore in the second quarter of current fiscal from Rs282.55 crore in the same period a year ago.

JPVL chairman Manoj Gaur said the company expects to have an operational capacity of 2,200 MW by the end of this fiscal. By 2019, the generation capacity--including hydro and thermal projects--is anticipated to be 13,470 MW.
The company's 1,000 MW Karcham-Wangtoo Hydroelectric Project has commenced commercial operation, taking the entity's total hydropower capacity to 1,700 MW.

"By the end of this financial year, the company aims to have 2,200 MW operational generation capacity, including the first phase of 500 MW thermal power of the 1,250 MW Bina thermal project in Madhya Pradesh," Gaur said.
According to him, the work on 1,320 MW (2x660 MW) Jaypee Nigrie Super Thermal Power Project in Nigrie, Madhya Pradesh is progressing satisfactorily and all major statutory approvals, required at the current stage of the project, have been obtained.

In the late afternoon, Jaiprakash Power was trading at around Rs34.70 per share on the Bombay Stock Exchange, 1.56% down from the previous close.

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BGR Energy wins thermal plant contract worth Rs1,698 crore

The first unit of the project is scheduled to be completed in 29 months and the second unit in 32 months

Chennai-based BGR Energy Systems has bagged a Rs1,698-crore EPC (engineering, procurement and construction) contract from New Delhi-based TRN Energy Pvt Ltd for setting up a coal-based thermal power project in Chhattisgarh.

The turnkey contract is for setting up a 2x300-MW project at Nawapara village in Chhattisgarh, a company release said.

The first unit of the project is scheduled to be completed in 29 months and the second unit in 32 months, it said. The order value includes foreign currency content of $188 million at an exchange rate of Rs44.70, the company said, adding that the contract provides for foreign exchange variation protection to the company at the actual exchange rate.

In the late afternoon, BGR Energy Systems was trading at around Rs282 per share on the Bombay Stock Exchange, 1.18% up from the previous close.

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