Tech Mahindra to focus on West Asia, Africa operations

Tech Mahindra will be rolling out a wider range of services for the MEA region's telco providers

Tech Mahindra, the IT arm of the Mahindra & Mahindra Group, is looking to expand its reach in the West Asia and Africa (MEA) region by tapping into newer markets and industry verticals, as well as forge new strategic partnerships with key businesses, to drive revenues.

Toward this objective, the systems integrator and business transformation consulting organisation has said it will reinforce its leadership and focus across operations in the region. In line with this move, Tech Mahindra recently appointed Girish Bhat as the new vice-president of sales and operations for MEA region. He is expected to drive business and synergies for the company.

The increasing popularity of business process outsourcing (BPO) and security solutions has made these areas new focal points for growth across the MEA region.

Tech Mahindra announced that it will be rolling out a wider range of services for the MEA region's telco providers, adding new offerings like value-added services (VAS), BPO, e-security, infrastructure management and network services.

"As the whole MEA region moves toward recovering from the impact left by the recent economic downturn, local telco providers have demonstrated a key shift in their IT spending practices, revealing a concentration on acquiring turnkey outsourcing of applications across the business support services (BSS)/operations support services (OSS) segments," said Bhat.

Bhat has more than 22 years of industry experience that spans diverse geographies. Prior to his new position, he served as the head of the Africa region at Tech Mahindra, where his leadership skills and strong business acumen were instrumental in strengthening the company's business in the continent.

In the late afternoon, Tech Mahindra was trading at around Rs575 per share on the Bombay Stock Exchange, 3.65% up from the previous close.

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MetLife unveils insurance plan for child education

The new insurance plan, named Met Smart Child, would be the second Child Savings Plan in MetLife’s portfolio after Met Bhavishya

MetLife India has launched a new unit-linked plan for the coverage of child’s higher education, even in the absence of parents.

The new insurance plan, named Met Smart Child, would be the second Child Savings Plan in MetLife’s portfolio after Met Bhavishya.

In the new plan, the fund would remain locked in for the benefit of the child till the child turns 18 and offers a differentiated death benefit, the company said in a statement.

The plan is available in three terms of 10, 15 and 20 years with a minimum premium of Rs18,000. The amount cover is equal to 10 times of the chosen premium and remains constant throughout the term of the Policy. The plan comes with 6 unit linked funds for customers with varying risk appetite to choose from.

The plan also offers systematic transfer option. Policies with 15 and 20 year term have a loyalty additions benefit of 2% and 3% respectively. These loyalty additions will be paid even on demise of the parent.

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Reliance MF launches Any Time Money Card in Chandigarh

Reliance Mutual Fund has no annual fees or transaction charges within India

Reliance Mutual Fund has launched Reliance Any Time Money Card in Chandigarh. The card would give retail consumers instant access to their mutual fund investments.

According to Reliance Capital Asset Management Ltd, Reliance Mutual Fund is the first fund house in the country to launch this card that offers all the convenience of a debit card for investments made in Reliance mutual fund schemes.

The ATM card will be available to investors investing in Reliance Mutual Fund designated schemes through their online account with the asset management company. The card will be linked to investments made in the designated funds and can be used to withdraw cash from any VISA authorised ATM or payments at point of sale (PoS) outlets. The card has no annual fees or transaction charges within India.

Punjab, Haryana, Jammu and Kashmir and Himachal Pradesh account for approximately 3.14 lakh investors with RMF.

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