HCL Technologies to acquire Control Point Solutions

HCL Technologies Ltd. (HCL), India’s leading global IT services provider, today announced signing of an agreement to fully acquire Control Point Solutions, Inc., the leading provider of voice, data and wireless Telecommunications Expense Management (TEM) services. Privately held, Control Point Solutions (CPS) leads the TEM market with robust platforms catering to both enterprises and carriers across industry verticals. As part of the transaction, HCL will acquire four delivery centres in US with over 200 professionals who come to HCL with domain knowledge and technical expertise. Control Point Solutions is being acquired at an enterprise valuation of USD 20.8 million. This valuation is on cash free and debt free basis.

This acquisition strengthens HCL’s unique advantage of providing multi-service delivery platforms for our customer with CPS’ TEM expertise complementing HCL’s remote infrastructure service offering. Control Point Solutions is a market leader in the highly fragmented TEM industry with its internally developed robust platforms. Control Point Solutions’ technology has been a key differentiator that has demonstrated capability to support both the Enterprise and Carrier segments. Control Point Solutions customers include Fortune 500 organizations across a broad variety of industries. For nearly two decades, Control Point Solutions has managed the entire telecom expense life cycle for clients, providing industry-leading solutions for their voice, data and wireless requirements.

NIIT is a ‘Superbrand’

For the second time, NIIT, the Global Talent Development Corporation has been accorded Superbrand status. At a recently concluded award ceremony held in the Capital, NIIT has been adjudged as a Business Superbrand 2008, commanding consumer respect, loyalty and trust by the Superbrands Council, from amongst consumer brands across categories.

The prestigious Superbrand status is internationally known as the ‘Oscars in the world of branding’. NIIT will be listed in Superbrands India’s very second edition of the book ‘Superbrands,’ a chronicle of India’s strongest brands. The prestigious award was received by Mr. P Rajendran, Chief Operating Officer, NIIT. Mr. P. Rajendran, Chief Operating Officer, NIIT, said, ”Being conferred the coveted Superbrand status for the second time, is a reiteration of the faith placed in us by our stakeholders. Having pioneered IT training in India, NIIT is now poised to emerge as a leading Global Talent Development Corporation.”

This is not the first time that the strength of NIIT brand has been recognized. NIIT was recently honoured with the Digital Opportunity Award at World Congress on IT held in Kuala Lumpur, for its pathbreaking Hole-in-the-Wall Education Initiative. Also at the recently concluded 2008 International Business Awards, NIIT won an International Stevie Award for the Most Innovative Company in Asia (Subcontinent, Australia and New Zealand). UN World Body UNESCO also presented NIIT with a Commendation Certificate for its innovative science station.

Cummins India wins CII?s National Award

The Power Generation Business Unit of Cummins India Limited has won the Confederation of Indian Industry (CII) National Award for Excellence in Energy Management in the category of “Innovative Energy Saving Product / Service” for the third successive year. The award has been conferred upon Cummins for its unique “Power Quality & Adequacy Analysis” service designed to ascertain source and load compatibility. This award was conferred during the “National Award for Excellence in Energy Management” function held in Pune on August 23, 2008.

Cummins has been the recipient of this prestigious award twice in the same coveted category for the last two years. In 2007, the Company received the Award for its Producer Gas Genset, while the Real Time Power Factor Control (RTPFC) system won the Company the CII Award in 2006.

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Bajaj Hindusthan Ltd

Source: BSE - Bajaj Hindusthan Ltd has announced the following Unaudited results for the quarter ended June 30, 2008: The Company has posted a net loss of Rs 354.10 million for the quarter ended June 30, 2008 as compared to net loss of Rs 604.70 million for the quarter ended June 30, 2007. Total Income has decreased from Rs 4940.80 million for the quarter ended June 30, 2007 to Rs 4731.40 million for the quarter ended June 30, 2008.

Buy Recommendation - Torrent Power

Keep buying on Torrent Power with a target price of Rs 146 . The company has posted excellent results for the quarter ended June 2008. The net sales for Q1FY09 stood at Rs 11133.50 million against Rs 8978.70 million in Q1FY08 depicting a growth of 24 %. The expenditures have grown at 20.95% clearly depicting the strength of the company. EBITDA for Q1FY09 stood at Rs 1412.30 million, showing a sharp surge of over 50 % from the previous year’s levels.