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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
Friday, Jul 11
18:00 Participation Rate 1 65.4% 65.3%
18:00 Building Permits (MoM) 1 12.0% -0.8% -6.8% Revised from -6.6%
21:30 USDA WASDE Report 1
22:30 Baker Hughes US Oil Rig Count 1 424 425
23:30 Monthly Budget Statement 2 $27B $-11B $-316B
Saturday, Jul 12
01:00 CFTC Oil NC Net Positions 1 234.7K
01:00 CFTC Gold NC Net Positions 1 $202K
01:00 CFTC S&P 500 NC Net Positions 1 $-86.8K
01:00 CFTC GBP NC Net Positions 1 £31.4K
01:00 CFTC AUD NC Net Positions 1 $-70.1K
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