Editor's Desk - FreePress India

Nortel holds 10% in Sasken Communications

January 16, 2009January 16, 2009 by Editor's Desk

Sasken Communication Technologies has informed FreePress that Nortel Network has filed for Chapter 11 bankruptcy protection in North America and for the quarter ended December 31, 2008. It added that Nortel contributed less than 10% of company’s consolidated revenues also it currently holds less than 10% of the outstanding shares in the Company. The company … Read more Nortel holds 10% in Sasken Communications

MRF cuts prices by Rs 400 per truck-tyre

January 15, 2009January 15, 2009 by Editor's Desk

MRF Ltd, India’s leading tyre company MRF, has decided to reduce prices by Rs 400 per tyre in the truck-tyre segment. The reduction in price was possible for the company owing to a descending trend in the price of natural rubber. Earlier the company had cut tyre prices after excise duties were lowered.

NIIT – lackluster Q4 – No consistency

January 26, 2009January 15, 2009 by Editor's Desk

NIIT Technologies held a conference call to discuss the quarter results ended December 2008 and future prospects. Arvind Thakur, CEO, addressed the call. Highlights of the call For the third quarter ended December 2008, NTL reported 4% de-growth in operating revenues at Rs 248.50 crore with operating margins up 30bps at 18%. Other Income turned … Read more NIIT – lackluster Q4 – No consistency

Sellers on Dalal Street drag market further down

January 15, 2009January 15, 2009 by Editor's Desk

The local market remained troubled in late trades as there was no halt to the selling pressure. Weak opening by the European indices and sustained weakness in the Asian markets forced investors to stay away from stock markets. Realty, banking and IT stocks were worst hit. The 30-share BSE Sensex was down 372.29 points or … Read more Sellers on Dalal Street drag market further down

Ansal Grace Jammu (J&K) Housing Project

January 15, 2009January 15, 2009 by Editor's Desk

Ansal Housing & Construction Ltd has informed FreePress that, the Company launched a new Group Housing Project named “Ansal Grace“, at Jammu (J&K). This is a Group Housing Project at Jammu Srinagar Kunjuwani Bypass Road, near Sainik Colony at Jammu (J&K). This Group Housing Project is spread over an area of 6 acres and wilt … Read more Ansal Grace Jammu (J&K) Housing Project

HCL and Misys to integrate loan origination tool

January 15, 2009 by Editor's Desk

HCL Capital Stream Lending Group, a division of HCL Technologies which provides straight through processing (STP) solutions for lending operations is going to bring a new technology solution for banks in an extended alliance with Misys, the global application software and services company. Misys and HCL will work together to integrate HCL’s CapitalStream solution, the … Read more HCL and Misys to integrate loan origination tool