TCS to target SMB sector with iON technology solution

TCS has launched a scalable cloud computing technology for the SMB sector,” TCS global head (iON) V Ramaswamy said

Tata Consultancy Services (TCS) is targeting the small and medium business (SMB) segment with the launch of its cloud-based technology solution, 'iON'.
"The SMB sector in India has a huge potential. TCS has launched a scalable cloud computing technology for the SMB sector," TCS global head (iON) V Ramaswamy said.

He said technology absorption by the Indian SMB sector was on the rise and the market at present is worth $ 11.9 billion. This would go up to $48.5 billion by 2015.

Mr Ramaswamy said TCS wanted to reach the target of $1 billion business from its iON platform in the next five years.

The verticals in which TCS is providing the technology are manufacturing, retail, textile, education, quick service restaurants, wellness clinics and professional services.

At present, the present client base for the iON platform is 237.

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Pratibha Industries Q4 net up 31% to Rs27.4 crore

Pratibha Industries had reported Rs20.9 crore net profit during the January-March quarter of the previous fiscal

Infrastructure company Pratibha Industries reported 30.97% rise in Q4 standalone net profit at Rs27.4 crore on higher income.

The company had reported Rs20.9 crore net profit during the January-March quarter of the previous fiscal, it said in a statement.

Total income of the company rose to Rs348.1 crore during the reporting quarter as against Rs271.9 crore in the corresponding quarter last fiscal.

Year-on-year, net profit of the company rose in FY11 to Rs71.4 crore, up by 26.4% over the previous fiscal, on a total income of Rs1,175.1 crore. During 2009-10 fiscal, total income of the company was at Rs934.9 crore.

"Our performance has been good in the last year as we had a three pronged strategy. First, we focused on increasing our market share by diversifying and getting into new geographical areas, including overseas markets. Second, we strengthened our execution to ensure timely delivery with higher quality standards. And third, we optimised our internal costs to remain profitable, despite the inflationary trends," Pratibha Industries managing director Ajit Kukarni said.

"Going forward, we will look at enhancing our footprint in the overseas market and also look at opportunities to diversify our portfolio," he added.

As on 31 March 2011, the order book of the company stood at Rs3,622 crore.

On Friday, Pratibha Industries ended 1.74% up at Rs55.40 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.02% to 18,326.09.

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ICICI Bank raises $1 billion from overseas market

The proceeds from the issue will be used to fund ICICI Bank’s international operations and for general corporate purposes

ICICI Bank said it has raised $1 billion (about Rs4,500 crore) through bonds from overseas market.

The 5.5 year fixed rate note carry a coupon of 4.75%, ICICI Bank said in a statement.

These notes were issued through the Bank's Dubai branch, it said.

The proceeds from the issue will be used to fund the Bank's international operations and for general corporate purposes.

The offering had an order book of $2.70 billion with strong interest from over 220 investors, it said.

The bonds were issued under existing $5 billion medium-term notes programme.

On Friday, ICICI ended 1.33% up at Rs1,044.25 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.02% to 18,326.09.

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