NIFT PG 2010 Question Paper with solutions

  Infotech Enterprises, which registered a turnover of Rs 239 crore in the quarter ended December 31, 2009, has announced that it has won a major avionics contract from Hamilton Sundstrand Corporation, a subsidiary of US-based United Technologies Corp. The four-year deal, which involves setting up a dedicated centre with 400 engineers, would mark the foray of Infotech into the embedded software and electronic engineering design services worldwide. Addressing a press conference here on Monday, Mr BVR Mohan Reddy, Chairman and Managing Director of Infotech, however, did not divulge the value of the contract.
  Acquisition : In another development, the company acquired the US-based Daxcon Engineering, an engineering services firm, in an all-cash deal. It would get Infotech an additional 150 employees. Though the size of the deal to acquire the US firm that had a run rate of $13-15 million was not revealed, Mr Reddy had said that he was not game for acquisitions beyond $20 million. Infotech has a cash pile of Rs 396 crore earmarked for acquisitions. It also indicated that another acquisition deal is likely to happen in the next few months.
  Hedging:The board of directors, which met here toconsider the third quarter results, had approved a proposal to take futures cover for 70 per cent of revenue inflows for the next 12 months. He said that there was no major pressure on the pricing front. Infotech plans to hire 350 more in the fourth quarter which is expected to witness a “high single digit” growth rate.