Update 2
Sensex pares gain from all time high of just under 13,800
Sensex pared gain in afternoon trade. Refinery shares edged lower. Index heavyweight Reliance Industries (RIL) drifted lower. Software major Infosys remained subdued.
The market breadth was strong. 1470 shares rose on BSE as compared to 949 shares that declined. 80 shares were unchanged. Gainers outpaced losers by a ratio of 1.54:1.At 13:33 IST, Sensex was up 61 points at 13,765.
The market opened on a firm note and it had firmed up further in early afternoon trade. Sensex hit a high of 13,799.02 at 12:24 IST, which is a new all time high for the barometer index.BSE clocked a turnover of Rs 2756 crore.
Sensex pared gain in afternoon trade. Refinery shares edged lower. Index heavyweight Reliance Industries (RIL) drifted lower. Software major Infosys remained subdued.
The market breadth was strong. 1470 shares rose on BSE as compared to 949 shares that declined. 80 shares were unchanged. Gainers outpaced losers by a ratio of 1.54:1.At 13:33 IST, Sensex was up 61 points at 13,765.
The market opened on a firm note and it had firmed up further in early afternoon trade. Sensex hit a high of 13,799.02 at 12:24 IST, which is a new all time high for the barometer index.BSE clocked a turnover of Rs 2756 crore.
Sonata Software buys TUI InfoTech for EUR 18 mn
Sonata Europe, the UK based wholly owned subsidiary of Sonata Software has announced that it has signed the closing memorandum with TUI InfoTec on November 24, 2006 and has remitted EUR 18 million, that makes it a 50.1% shareholder in TUI InfoTec GmbH.
Earlier, Sonata announced it has signed an agreement with TUI AG, Europe`s leading tourism and shipping group, to acquire 50.1% stake in TUI InfoTec, an IT company headquartered in Hanover, Germany for EUR 18 million in an all cash transaction.
Commenting on plans ahead, B Ramaswamy, president and managing director said ``Transition of work from TUI InfoTec to the JV has already started. Going forward, our focus will be on the execution of a joint plan, to ensure that the objectives of the JV are met. Detailed Sales and Marketing plans for new customer acquisition are being drawn up.``
State Bank Of India has funded the above deal to the tune of EUR 10 million, while the balance amount was funded through internal accruals.The company has also received anti-trust clearance from the Federal Cartel Office in Germany.
Sonata Europe, the UK based wholly owned subsidiary of Sonata Software has announced that it has signed the closing memorandum with TUI InfoTec on November 24, 2006 and has remitted EUR 18 million, that makes it a 50.1% shareholder in TUI InfoTec GmbH.
Earlier, Sonata announced it has signed an agreement with TUI AG, Europe`s leading tourism and shipping group, to acquire 50.1% stake in TUI InfoTec, an IT company headquartered in Hanover, Germany for EUR 18 million in an all cash transaction.
Commenting on plans ahead, B Ramaswamy, president and managing director said ``Transition of work from TUI InfoTec to the JV has already started. Going forward, our focus will be on the execution of a joint plan, to ensure that the objectives of the JV are met. Detailed Sales and Marketing plans for new customer acquisition are being drawn up.``
State Bank Of India has funded the above deal to the tune of EUR 10 million, while the balance amount was funded through internal accruals.The company has also received anti-trust clearance from the Federal Cartel Office in Germany.
posted by SY at 1:48 PM
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