Infotech Enterprises inks multi-year pact with Tele Atlas

Hyderabad-headquartered, Infotech Enterprises Limited, a Global Technology Solutions provider, has signed a new multi-year contract with digital map leader Tele Atlas to provide extensive map database and software development services.

The agreement builds on a relationship that started in 1994 and reflects Tele Atlas’ continued confidence in Infotech’s abilities to deliver high-quality database and software services & solutions.

Through the agreement, Infotech’s highly-skilled professional database teams assist in the production of Tele Atlas’ digital map database, entering in verified map data information gathered by Tele Atlas’ global resource network, which includes data collected from Tele Atlas’ global fleet of Mobile Mapping Vans.

Infotech Enterprises Limited, together with its subsidiaries, provides geographic information systems (GIS), engineering design, and information technology (IT) services in India and internationally.

The company has recorded a 39% increase in net profit at Rs 18.23 crore for the quarter to September 2007. Its sales increased by 24% to Rs 103.18 crore.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.