Thinksoft expands operations in India

Financial software testing company, Thinksoft Global Services Ltd said it has opened its new delivery centres in Tidel Park, Chennai and in Velankani Tech Park, Bengaluru. 

These delivery centres are designed to handle operations for the company's global clients in a secure environment. Together, these centres have an offshore delivery capacity of around 350 seats, said the company in a regulatory filing.

On Wednesday, Thinksoft shares ended 0.6% down at Rs125 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.8% up at 19,502 points.

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Nexxoft Infotel partners with SpinetiX

Nexxoft Infotel Ltd, an interactive software development company, said it has entered a strategic tie-up with Swiss-based SpinetiX,  to provide digital signage products in India . No financial details were provided.

Nexxoft Infotel will sell the products of SpinetiX in India, said the company in regulatory filing. With this international tie up, Nexxoft Infotel has entered the digital signage market.

On Wednesday, Nexxoft Infotel shares gained 0.9% to Rs184 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.8% up at 19,502 points.

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Tata Steel to buy 80% stake in Canadian iron ore project for Rs1,350 crore

Tata Steel Ltd said it will acquire 80% stake in an iron ore mining project in Canada for about Rs1,350 crore, a move which will help the steel maker boost its raw material supply. The Direct Shipping Ore (DSO) project is owned by Canada-based New Millennium Capital Corp, in which Tata Steel holds 27.4% stake.

The project contains 64.1 million tonnes of mineral reserves. More than a year ago, Tata Steel had entered a binding agreement with New Millennium, whereby the steel maker had the option to acquire 80% equity interest in the DSO project in the provinces of Newfoundland and Labrador and Quebec.

As per the joint venture agreement, Tata Steel would purchase all the iron ore products of a specified quality that would be produced from the DSO project. These products would be bought at global market prices.

Tata Steel is among the top ten global steel companies with an annual crude steel capacity of over 28 million tonnes per annum (mtpa).

On Wednesday, Tata Steel shares rose 1.3% up to Rs604 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.8% up at 19,502 points.

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