Company Updates

Reliance Power ties up Rs 14,500 crore for Sasan Ultra Mega Power Project

Reliance Power ties up Rs 14,500 crore for Sasan Ultra Mega Power Project With the help of finances arranged from more than a dozen domestic banks and financial institutions, the Anil Ambani-led Reliance Power Tuesday announced a tie-up of Rs 14,500 crore funds for its Madhya Pradesh-based, Rs 19,400 crore, 3,960 MW Sasan Ultra Mega Power Project.

As per the company officials, the tie-up comprises the biggest-ever debt that has been raised from domestic banks and institutions, for any project among any industry in the country.

Smartdata enterprises, the offshore software outsourcing company

Smartdata enterprises, the offshore software outsourcing companyMohali, April 20: Smartdata enterprises, an offshore software outsourcing company, has expertise in web and software applications development in the ever-growing software development offshore outsourcing global market.

In 1996, SmartData Enterprises Incorporation, a consulting company was formed in Silicon Valley, California.

It was three years later in 1999, the company saw the vast potential in the IT sector in India and set up SmartData Enterprises (India) Ltd, a database company with four members.

Bajaj Finserv, Alliance Global enter into Indian asset management joint venture

Bajaj Finserv, Alliance Global With Bajaj already has life insurance and general insurance business tie-ups with Allianz since eight years, the Rahul Bajaj-owned Bajaj Finserv lately entered into a shareholders' deal with Allianz Global Investors, which is venturing into the asset management arena in India.

The Munich, Germany-based insurer will hold a majority stake of 51 percent in the asset management joint venture.

GVK Power to divest 49% stake in its Road & Power Ventures

GVK Power and Infrastructure Ltd (GVKPIL)GVK Power and Infrastructure Ltd (GVKPIL), which provides generation, operation, and maintenance services to power plants in country is presently looking to divest stake in its roads and power ventures.

Latest reports suggest that the company is presently in talks with at least five players for divesting up to 49 per cent stake in these two segments. However, the company said that it would retain a majority stake of at least 51 per cent in these segments.

CA Inc. to hire 1000 professional for its Hyderabad R&D Centre

CA Inc. to hire 1000 professional for its Hyderabad R&D CentreUS-based CA Inc, the IT management software company, has decided to hire 1,000 professionals in India over the next 3-5 years.

According to reports, the company will employ an additional 1,000 people for its Hyderabad R&D centre, taking the total strength to 2,600 over the next 3-5 years.

The Hyderabad facility currently houses about 30 per cent of the company's global R&D headcount.

Invensys Process Sytems wins order worth $50 million from Petrobras

Invensys Process Sytems wins order worth $50 million from PetrobrasInvensys Process Systems (IPS), a global technology, software and consulting firm, has entered into a five-year contract with Petrobras, to provide comprehensive safety services and solutions.

Under the arrangement, the company will implement its Triconex safety and critical controls and Avantis asset management technology to upgrade and modernize 11 Petrobras refining facilities throughout Brazil. The contract is valued at $50 million.

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