Rasna unit in Israel

Rasna Pvt Ltd plans to set up a manufacturing facility in Israel by entering into a joint venture with a local partner. The company has already started scouting for partners for the proposed venture. Rasna has two manufacturing plants overseas in Bangladesh and Dubai. The company is also looking for potential collaborators to bring value-added products to the global markets through technology transfers, licensing and marketing tieups. The company, which markets its products in 40 countries generates around 20 to 25 per cent of its revenue from overseas operations.

TCS pact

Tata Consultancy Services (TCS) has signed a seven-year agreement to provide a range of managed IT services to Somerfield, a UK-based small-format food retailer. Under the agreement, TCS will take over the entire IT operations, asset management and planning for Somerfield and provide IT infrastructure and applications service within the company.

Aztecsoft

Aztecsoft Ltd has been ranked fourth in the top 10 list of firms in the $30-100 million category of the Software 500 ranking, released by the US-based Software Magazine. The company has moved up 83 points helped by a year-on-year revenue growth of 99 per cent.

Punj Lloyd

Punj Lloyd has unveiled its new corporate identity as part of its re-branding initiative. It has got a new logo that symbolises synergies of operations. The company has recently acquired Singapore-based Sembawang Engineers & Constructors Ltd and a British company, Simon Carves.

Cummins India

Cummins India has launched the quantum Series engines. The series include QSK78, QSK60, QST 30, QSK23 and QSM11 engines, to be used in mining.

L&T venture

Jointly with Australia-based Mayreder Bau GmbH, Larsen & Toubro Ltd (L&T) has bagged an order worth Rs 456 crore from NTPC Ltd to build a 4X130-mw hydropower project at Tapovan Vishnugad, Uttaranchal.

FSC move

Financial Services Commission (FSC), Mauritius, has invited Financial Technologies Group to set up an international multi commodity exchange in the country. FSC has given an “in principle” approval to the project.

LG Electronics

LG Electronics has received an award from Container Corporation of India Ltd for the highest volume of export containers and third-highest volume of import containers. The company aims at a total export worth $167 million in this fiscal.

Coal India

Crisil has upgraded the rating of Coal India’s long-term debt programme to AAA from AA and its re-affirmed its rating of the short-term debt programme at P1+.