Reliance Communications ties up with Microsoft (Business Capsule)

MUMBAI - Anil Ambani-led Reliance Communications Wednesday said it has entered into a strategic alliance with Microsoft to offer Windows Mobile solution on its wireless networks.

As per the agreement, Microsoft will offer solutions like push email support, chat, photo-sharing, content back-up and other applications to Reliance customers.

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Oil India scrip soars 9 percent on debut

Mumbai: State-run firm Oil India, which marked its debut at the Indian equities markets Wednesday, saw its stock climbing a little over 9 percent from its issue price of Rs.1,050.

The scrip opened at Rs.1,019 and soon rose to Rs.1,148, a gain of 9.33 percent over the issue price.

This is the second initial public offering by a state firm to hit the markets this year and was oversubscribed almost 31 times and priced at Rs.1,050 per share. State-owned hydro power major NHPC Ltd was the first to go public.

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Tata Teleservices to share towers with BSNL

New Delhi: Tata Teleservices Wednesday said it has signed a 15-year infrastructure sharing deal with state-run telecom operator Bharat Sanchar Nigam Ltd (BSNL).

“The agreement will be applicable to both Tata Teleservices and Tata Teleservices (Maharashtra) in all of Indias 22 telecom circles, the company said in a statement.

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Tata Consultancy wins contract in Singapore

Mumbai: Software major Tata Consultancy Services won a multi-million dollar contract for two years from Singapore People’s Association, a statutory body under the ministry of community development.

The contract involves developing and maintaining the body’s business and citizen centric applications including mission critical applications.

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NTPC pays Rs.2,968 crore as dividend

New Delhi: State-run thermal power utility NTPC Ltd Wednesday declared a total dividend of Rs.2,968.36 crore for the last fiscal, the highest ever paid by the company. This amounts to 36 percent of the company’s paid-up capital.

This is the 16th consecutive year that NTPC has paid dividend. The company is also looking to raise funds from capital markets.

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Emaar MGF files application for IPO

Mumbai: Realty major Emaar MGF Wednesday filed its red herring prospectus with the markets regulator for an initial public offering (IPO) through the 100 percent book building issue.

The shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).