ORIENT INFORMATION TECHNOLOGY

Article Abstract:

Orient Information Technology (OIT) has projected a net profit of over Rs5 crore for 1998-99 with an earnings per share of Rs6.67. OIT is a 100 percent export oriented software unit. It specialises in contract services, offshore development, product marketing, distribution and support, training and solution integration. Its major export revenue comes from the middle East. OIT has issued preferential equity shares worth Rs3 crore to close associates of its promoters at a premium of Rs10.50 during 1998-99. This has increased its equity capital to Rs7.50 crore. OIT's move is aimed at expanding its business in the US, Europe and UK. It has tied-up with IBM Global services and UNISYS for software and IT services. It plans to undertake Euro-currency conversion projects. (tsm)(vr)

Comment:

Orient Information Technology (OIT) has projected a net profit of over Rs5 crore for 1998-99 with an earnings per share of Rs6.67.

Data Processing Services, Health Industry DP Services, Medical information management services, ORIENT INFORMATION TECHNOLOGY

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PORTFOLIO GUIDE: JINDAL VIJAYANAGAR STEEL

Article Abstract:

Jindal Vijayanagar Steel Ltd is one of the companies which has adopted the environment friendly Corex technology for steel production. But the project has been revised by 50 percent, due to time and cost overruns, to Rs4968 crore from the original cost of Rs3300 crore. The financial institutions have infused Rs830 crore in addition to the Rs838 crore financial package worked out in 1997-98. The company has accumulated losses of over Rs40 crore at the end of 1998. (khr)

Comment:

Jindal Vijayanagar Steel Ltd is one of the companies which has adopted the environment friendly Corex technology for steel production.

United States, Iron and Steel Mills, Use of materials & supplies, Steel Mill Products, Steel products, Jindal Vijayangar Steel Ltd.

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