Investment & Precision Castings sets up new company

Investment & Precision Castings Ltd said it formed a new subsidiary titled as I&PCL Vacuum Cast Ltd, to manufacture vacuum investment castings.

On Tuesday, Investment & Precision Castings shares ended 1% down to Rs154 on Bombay Stock Exchange, while the benchmark Sensex closed 0.3% lower at 17,971 points.

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Cerebra Integrated to set up e-waste recycling unit in alliance with Cimelia

IT solutions provider Cerebra Integrated Technologies Ltd said it partnered with Singapore-based Cimelia Resource Recovery to set up what it claims to be India's largest e-waste recycling unit. The company would set up the proposed unit on 10 acres of land in Bangalore with an investment Rs50 crore.

The alliance will help Cerebra to double its e-waste management capacity to 60,000 tons from 30,000 tons annually. It aims to achieve a turnover of Rs250 crore in financial year 2013 with a profit margin of 25%, said the company in a regulatory filing.

On Tuesday, Cerebra Integrated shares ended 1.7% up at Rs23 on Bombay Stock Exchange, while the benchmark Sensex closed 0.3% lower at 17,971 points.

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Tata Communications signs two-year IP transit deal with Malaysian company

Tata Communications Ltd said it signed a two-year deal with Malaysia-based mobile services operator group Axiata to build and manage an internet protocol (IP)-based network in select markets in the Asia Pacific region. No financial details were provided.

The select markets include-Dialog Telekom in Sri Lanka, PT XL Axiata in Indonesia, Celcom Axiata in Malaysia and MobileOne in Singapore, the Mumbai-based company said in a regulatory filing.

The IP-based network is aimed at providing latency and better service support for real-time applications such as web browsing, downloads, Facebook, Twitter and mobile video telephony.

On Tuesday, Tata Communications shares ended flat at Rs332 on Bombay Stock Exchange, while the benchmark Sensex closed 0.3% lower at 17,971 points.

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