ExlService Holdings

EXL buys American Express Business Travel for $30 million

EXL, a leading provider of offshore business process outsourcing solutions, has bought the back office centre of American Express Business Travel (AEBT) for $30 million.

The buyout of American Express' Global Travel Service Center operations in Gurgaon stood at approx $30 million net of working capital adjustments at closure.

The contract will help increase EXL's capabilities in analytics, exception processing and transaction processing.

Miscellaneous

Big steel and power companies may be stripped off their captive mines

Big steel and power companies may be stripped off their captive mines

Big steel and power companies like NTPC, ArcelorMittal, GVK Power, Jindal Steel & Power, GMR Energy and Damodar Valley Corporation may be stripped off the captive mines that were allotted to them.

As per the information available, as many as 97 companies are going to be given notice by the government asking them as to why they have failed in starting work in the captive mines provided to them.

Escorts up for a rebound?

Escorts up for a rebound?

After losing most of its market to players like Mahindra, perhaps the north India based tractor manufacturer, Escorts is up to make a rebound in the domestic circuit.

While the company has been cutting its operational and financial expenses, the fact of the matter is that it is also looking at expanding its market share in the domestic circuit. The third largest tractor manufacturer in the country has been relying on its tractor business for the overall Group, the company is targeting to take its market share up by 1% in the short run.

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