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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Fact4 who wrote (4493)	6/12/1999 2:59:00 PM
From: Mohan Marette	Respond to of 12475

Industrial output up 6.8%,Ranbaxy in $100 mil deal,Polaris signs NEC deal. Industry shows signs of recovery; industrial output up 6.8 per cent in April business-standard.com ===================== POLARIS -HOT IPO candidate Company Website polaris.co.in ========================= NEC chooses Polaris to be part of a global tie-up K C Krishnadas BANGALORE 11 JUNE HE Chennai-based Polaris Software\| has been chosen to be part of the Japanese giant NEC's global alliance for the development of its next generation banking systems. Polaris is expected to gain a few million dollars from being part of the alliance, where its role will be to write software. NEC has decided to invest $83m to develop systems that do not require the mainframe platform. Its aim is to take the global initiative in developing open systems from Unix for core banking which require high reliability, for the financial services industries. Mr Arun Jain, chairman and managing director, Polaris Software Lab Ltd, said being chosen to be part of the NEC global alliance was an event of great significance for Polaris. ''Usually Indian companies are chosen to be part of such assignments for coding or maintenance purposes. It's rare for an Indian software company to be chosen for writing the programme itself,'' he said....... On Polaris wholly-owned retail subsidiary, Polaris Retail and Communication Ltd, Mr Jain said some venture capital firm and other corporates had evinced interest in participating in its equity. However, this issue is on the back burner as Polaris Software itself is readying for its IPO of Rs 70 crore sometime next month.. economictimes.com ====================== Ranbaxy company website ranbaxy.com Ranbaxy close to $100m sale of delivery system Sitaraman Shankar Mumbai 11 June Ranbaxy Laboratories is understood to be close to signing a deal for the supply of a novel drug delivery system under license to a large western multinational. Sources said the deal would fetch the Indian major well in excess of $100m over a three-year to five-year period from up-front payments, milestone payments and royalties. They added that the Indian major was confident of announcing a deal within two months, and that talks were at a highly advanced stage..... economictimes.com