Infotech Enterprises Ltd has posted a net profit of Rs 68.20 million for the quarter ended December 31, 2002 as compared to Rs 83.20 million in the quarter ended December 31, 2001.
Infotech Enterprises Ltd allotted 41050 equity shares to the associates of the company under an associate stock option plan.
Infotech Enterprises Limited, which provides engineering and geographic information services, is in advanced stages of acquiring an aerospace services company in Europe for a consideration of approximately $20 million (Rs 91 crore).
Infotech is targeting firms that have the right set of skills and nearness to customers in the US, besides looking at companies that will help increase its competency in terms of delivery in China, Romania, India and Russia in the areas of geographic information systems and engineering within the design space.
What this means is that crucial and accurate data about the city like dwelling units, roads, power, infrastructure, telecommunications, water distribution, sewage disposal, educational institutes, public health units, tourism centres, religious places, transport junctions etc will now be available to the government at any given time.
Carrier International Mauritius Ltd and Global Investment Ltd are looking to buy over 45 lakh shares in domestic IT services firm Infotech Enterprises, for nearly Rs 162 crore (Rs1.62 billion).
Infotech Enterprises, a geospatial, design engineering and software services and solutions company, has picked up 74 per cent stake in Hyderabad-based Geospatial Integrated Solution Private (Geospace Integra) for Rs 2.96 crore (Rs 29.6 million).
Khafeel Ahmed, a suspect in the failed terror plot in Britain, showed no distinct leadership qualities and did not significantly stand out from the crowd during his tenure with Infotech Enterprises in Bangalore.
IT stocks continued their upward sojourn on Thursday from Wednesdays upbeat run after global markets set a strong precedent.
Software industry body Nasscom on Wednesday appointed Cognizant India Executive Vice Chairman R Chandrasekaran as its Chairman for the year 2014-15.
Recovery in US gives extra boost to IT/ITeS office deals in Bangalore and the National Capital Region.
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