MAHARASHTRA TAKES AP CUE TO PROP UP IT SECTOR

Article Abstract:

Maharashtra, in line with IT developments in Andhra Pradesh, has decided to promote the state as a software business centre for the services sector. It has entered into memoranda of understanding (MoU) with Infosys Technologies Ltd (ITL), Videsh Sanchar Nigam Ltd and Software Technology Parks India Ltd (STPI). According to the MoU, Maharashtra will provide the necessary infrastructure to ITL to set up the software development facilities at MIDC Infopark, Pune, at a cost of Rs150 crore. After completion, the park is expected to generate revenues worth Rs250 crore. Mastek Ltd and CMC Computers Ltd have also mooted investments of Rs100 crore and Rs80 crore in the state to set up their software development facilities at MIDC's Millennium Business Park at Navi Mumbai. (gsh)

Comment:

India: Maharashtra decides to promote the state as a software business centre for the services sector

Government domestic functions, Article

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COS ACHIEVE FULL-YR PROFITS IN 9 MONTHS

Article Abstract:

Many Indian corporates have achieved 1997-98 whole year's profits in the first nine months of 1998-99 itself. Around 200 such companies have been identified. The companies are from pharma, computer software, pesticide/agrochemicals, petrochemicals and general engineering sectors. Software companies like Infosys Technologies, Pentafour Software and Satyam Computers have shown good performance both in sales and net profits. However, majority of the companies in the list have shown a lower sales growth but a higher net profit. This has been attributed to improvement in the overall margins, higher other incomes and decline in overall expenditure. (um)(psr)

Electronic computers, Prepackaged software, Electronic Computer Manufacturing, Sales, profits & dividends, Market information - general, Computers & Auxiliary Equip, Pharmaceutical Preparation Manufacturing, Pharmaceutical preparations, Agricultural Chemicals, Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing, Petrochemical Manufacturing, Cyclic crudes and intermediates, Petrochemicals, Drugs, Satyam Computer Services Ltd., Pentafour Software Exports Ltd., InfoSys Technologies (India)

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