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Wednesday, April 28, 2010

LIC is in talks to sign IT services, BPO deal with Mahindra Satyam

Life Insurance Corporation (LIC) is in talks to sign IT services, BPO deal with Mahindra Satyam, quoting sources. The talks with Mahindra Satyam are post LIC's stake buy in Tech Mahindra.

The management of both LIC, Mahindra Satyam are discussing the contours of the deal, which is likely to be between USD 300 and USD 500 million.

On March 29, sources toldthat Mahindra Satyam is one of the selected vendors, of which only three will be selected for the final round of the government's unique identification (UID) project. Wipro, HCL Tech, TCS, Infosys, eClerx, Cognizant, and IBM are among the selected vendors.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Apr 15
11:30 Claimant Count Rate 2 4.7% 4.6% Revised from 4.7%
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.9% 6.0% 5.8% Revised from 5.9%
11:30 Average Earnings Including Bonus (3Mo/Yr) 2 5.6% 5.7% 5.6% Revised from 5.8%
11:30 ILO Unemployment Rate (3M) 3 4.4% 4.4% 4.4%
11:30 Employment Change (3M) 3 206K 144K
15:00 10-y Bond Auction 1 4.679%
17:45 Housing Starts s.a (YoY) 1 242.5K 229.0K
18:00 NY Empire State Manufacturing Index 2 -14.5 -20.0
18:00 Import Price Index (MoM) 1 0.0% 0.4%
18:00 Manufacturing Sales (MoM) 1 -0.2% 1.7%
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