IT giant HCL Technologies has managed to bag an order worth Rs 393 crore from National Insurance Company (NIC) to provide information technology related services and operation management modules, necessary to equip NIC with cutting edge technology.

The company, for the project worth Rs 393-crore, is entitled to provide IT services and modernization of business process for a period of seven years to NIC.

SPML Technologies, a group company of Subhash Projects & Marketing Ltd (SPML), on Monday announced the completion of first phase of its automated anytime payment (ATP) kiosks in the state. Through this facility, the electricity consumers will now be able to pay their electricity bills anytime with multiple payment options such as cash, cheque, demand draft and credit or debit card. The company is providing this service under build-own-operate-maintain (BOOM) model.

Yahoo! India R&D will continue to be a critical element in Yahoo! Inc.’s global plans and will grow in the coming days, Pranesh Anthapur, vice president and chief operating officer sought to stress on Tuesday. In fact the research unit of the Web technologies giant will soon add a new 1200 seat facility in the city, he added.

Yahoo India R&D has 120 vacancies, a significant number of them at senior levels, which it is seeking to fill up in due course, he said responding to a report in these columns on Monday on the impact of a global restructuring by Yahoo last week.

Despite holding significant stake directly and an indirect interest through infrastructure major Larsen and Toubro in Satyam Computer Services, the Life insurance Corporation (LIC) seems to be wary of handing out projects to the fraud-hit IT company.

Indeed, the insurance behemoth has dropped Satyam from the list of vendors for a key project, sources familiar with the development told DNA Money. Going by them, Satyam's name was among the shortlisted companies for LIC's front office modernisation plan, but was dropped subsequently.

Shares of e-learning services provider Edserv Softsystems had a strong debut on the stock exchanges on Monday.

The company’s scrip got listed on Monday at Rs 55, down 8.33 per cent from its issue price of Rs 60 on the Bombay Stock Exchange, but later settled the day with whopping premium at Rs 137.55, up Rs 78 or 129 per cent.

During trading session, the scrip touched an intraday high of Rs 147 and intraday low of Rs 55 on BSE. The total traded quantity was 3,41,04,135 shares.

The ongoing global slowdown has started to erode salaries of top executives of India's top IT services provider, Infosys Technologies. The company has decided to pay minimum discretionary pay to staff in a bid to control costs and mitigate the impact of global slowdown on Friday.

The chief executive of IT firm, Kris Gopalakrishnan, said, "This is going to be a prolonged downturn. Slow performance, the increment to its employees will be minimal this time around. "