Micro Technologies has appointed home appliances dealer S-Mart as their main dealer for the Tamil Nadu and Puducherry markets
Software and hardware security solutions provider Micro Technologies India is holding talks with several companies in South Africa for a formal foray into the market in that country, a top company official said today.
The Mumbai-based firm, engaged in providing software and hardware security solutions across the infrastructure, automobile and mobile verticals, currently exports to West Asia, Japan and China.
However, it intends to enter Africa by appointing a representative dealer there, Micro Technologies (India) Executive Director S Aditya said.
“We are in talks with many companies... We are looking at operations in Tanzania first and then to increase our presence in the African market,” he told PTI.
Stating that the African market has huge untapped potential, he said this move would help increase their global market presence. “Right now we are exporting our products to Israel, China and to Japan,” he said.
The company reported a Rs400 crore revenue for 2010-11, with 40% of it coming from exports.
On their outlook for 2011-12, he said they aimed for 40% growth this year. “We grew by 20% in 2010-11 (compared to the previous year). This year we are aiming at a growth of 35-40%,” he said.
Micro Technologies today appointed home appliances dealer S-Mart as their main dealer for the Tamil Nadu and Puducherry markets. The company has 238 main dealers and has two subsidiaries each in Australia and Dubai.
On Monday, Micro Technologies ended 0.89% down at Rs134.15 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.24% to 18,240.11.
IBM has entered a 10-year strategic outsourcing agreement with India Infoline that will help IIFL deliver a higher level of customer satisfaction
Technology major IBM on Monday secured a contract from India Infoline (IIFL) worth Rs298 crore to transform the latter’s IT infrastructure and manage IT costs.
IBM has entered a 10-year strategic outsourcing agreement with IIFL, that will help IIFL deliver a higher level of customer satisfaction, strengthen its IT security framework and control IT operations, IBM said in a statement.
Under this agreement, IBM will take over the complete IT operations of IIFL, which will entail managing more than 700 IIFL branches spread across India. The IT infrastructure at IIFL comprises more than 450 servers spread across five data centres and nine local server rooms with over 15,000 end user assets distributed across its branches.
The project will also include a wide area network that connects all IIFL offices to the corporate offices in Mumbai. This collaboration will significantly improve customer experience for IIFL’s end customers.
This is by ensuring higher uptime for its broking platform ‘Traders Terminal’, speedier response and resolution of any technology related issues, the statement said.
The scalable technology deployment will enable IIFL to roll out enhanced functionality in shorter time frames. IBM will also set up a centralised help desk, roll out a pan-India desk side services capability to support users, applications and infrastructure in branches, and deploy service management processes to cover assets, IT security, and technology, among others.
On Monday, IIFL ended 0.72% up at Rs76.50 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.24% to 18,240.11.
NMDC will take a decision on acquiring 50% stake only after completion of the feasibility study, which would take about a year to complete
NMDC said it has signed an agreement with Australian firm Minemakers to develop Wonarah phosphate deposit of the company and would buy a 50% stake in the project after a joint feasibility study.
“Upon successful completion of the feasibility study, NMDC proposes to acquire 50% equity in the Wonarah project and participate in the development of the project,” the company said in a regulatory filing.
The announcement has come within a fortnight of NMDC agreeing to acquire 50% stake in another Australian firm—Legacy Iron Ore.
The memorandum of understanding (MoU) signed between the two firms envisages preparing of road map for NMDC’s participation in development of the Wonarah phosphate deposits, the filing said.
“This will enable us to enter into Australia’s largest known undeveloped phosphate deposit and bringing it to India for the domestic fertiliser industry,” NMDC Director (Technical), Mr NK Nanda said over phone.
He added that the company will take a decision on acquiring 50% stake only after completion of the feasibility study, which would take about a year to complete.
“The proposed Wonarah development will include a mine and downstream processing facilities to produce beneficiated rock phosphate for export; phosphoric acid (an intermediate product); and finished fertiliser products such as DAP and MAP (Diammonium Phosphate and Monoammonium Phosphate),” Minemakers said in a statement.
It added that after the feasibility study, both the companies may form a joint venture for the development of the asset and NMDC will have full responsibility to raise finances for the project through debt.
However, Mr Nanda said, “There has not been any investment commitments made so far and it will depend upon the findings of the study”.
The terms of the JV agreement will be negotiated during the advancement of the feasibility study, which is expected to begin during fourth quarter of 2011, the Minemakers statement said, adding that NMDC will also repay some of the project costs incurred on the Wonarah project to it.
Wonarah is also the only Australian rock phosphate project that has been granted Government’s ‘Major Project’ status and enjoys important traditional owner and stakeholder support, Minemaker’s website said.
A positive Direct Shipping Ore Feasibility Study and bulk sampling operation were completed in 2010, it added.
On Monday, NMDC ended 0.13% up at Rs236.15 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.24% to 18,240.11.