As per a leading business daily, the government may begin allowing power companies to swap coal supplies between each other with their respective nearest sources. This will help them save on costs and also have the added benefit of decongesting the rail network. Reports suggest that a policy for such a rationalisation of coal linkages is in the offing and Coal India may be designated with overseeing this swapping. Further, the government is likely to set up a separate designated authority for the purpose of swaps between supply from CIL and other coal sources.
Most software stocks are trading higher today. Tech Mahindra and HCL Technologies are leading the gainers. As per a leading financial daily, leading mid-tier IT firm Zensar Technologies has won three multi-million dollar deals in the US. The contracts pertain to the company's core business of IT infrastructure management services (IMS). The cumulative value of the deals is about US$ 12 m. The management has stated that the IMS business pipeline stands at around US$ 200 m. The company garners about 75% of its revenues from the US and is currently in the process of expanding in Europe. Zensar Technologies is trading down 1.1% today.