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Infy sets up domestic BPO operation
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.

Where you sit
Most people in public life know that where you stand depends on where you sit. When Additional Solicitor General Mohan Parasaran began arguing the government’s case in the fight between Mukesh Ambani’s Reliance Industries Limited (RIL) and Anil Ambani’s Reliance Natural Resources Limited (RNRL), he happened to sit on the same side as RNRL’s lawyers. Ram Jethmalani, who is one of RNRL’s lawyers, objected and said, “You should move to the other side (near the RIL lawyers) since this makes it appear that you (the government) are in collusion with me (RNRL).”

News of the day

Markets reverse losing streak amid high volatility
The Indian bourses opened marginally higher at 16,317.16 - up 28 points. points - mirroring positive cues from the global markets. The US markets ended on a positive note after the US Federal Reserve said that the conditions in the world"s largest economy are showing signs of improvement. The Dow Jones Industrial Average added 0.4 per cent and the Nasdaq Composite Index was up 0.8 per cent, respectively. The Asian stocks too started on a strong note however pared some gains towards end of the day. The Hang Seng was up 1.61 percent and the Nikkei added 1.5 per cent, respectively.
Business Ideas

ITC to launch new products in stationery biz

Diversified business conglomerate ITC Ltd is targeting a Rs 1,000-crore turnover from its stationery business in three to five years, led by new product launches targeting school children and institutions. It’s current revenue from this business stands at Rs 280 crore. - Neotel to expand network in South Africa - Tatas to tighten management grip on JLR - Tatas to tighten mgmt grip on JLR: report - JLR"s UK ops saw 673.4 mn pounds loss last year: report - ITC plans Rs 13,000-cr investment in paper, hotels businesses - ITC"s Bengal food project in land tangle ITC is also talking to corporates with its promise of green technology backing its paper. It is now providing the entire office stationery requirements of groups such as the Tatas, Wipro, IBM, HSBC and ICICI Prudential and is looking to step up such institutional sales. Chand Das, chief executive of ITC’s education and stationery products, told Business Standard: “We are targeting a Rs 1,000-crore business in three to five years. We already have ‘Classmate’ brand of notebooks for children and ‘PaperKraft’ brand for professionals and offices. We intend to launch a new range of geometry boxes, pens and pencils, and other stationery products in order to reach our target. We would also double our distribution network in two years. Currently, we have 750 distributors who make our products available in over 70,000 outlets in India.” “Classmate is mainly aimed at students and we have launched ballpoint and gel pens under this brand. Similarly, PaperKraft is targeted at executives and we are using that for markers and highlighters,” Das added. ITC’s education and stationery business is one of the company’s fastest growing businesses, recording a compound annual growth rate (CAGR) of 80 per cent for five years since inception to reach Rs 280 crore now from Rs 20 crore five years ago. The company has a 12 per cent market share in the writing material segment, which is pegged at Rs 4,000 crore.


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