Indo-City flares up on tie-up buzz

SMOKE SIGNALS

Software development firm, Indo-City Infotech Ltd, has witnessed a sharp increase in trading volumes and price in the last three months.

The stock is being driven on reports that the company will tie up with the US-based Creative Solutions Inc for marketing Creative Solutions' software.

The trading volume has increased sharply from a meagre 701 shares to 2,32,000 shares in last three months. The price has jumped from Rs 8.44 on January 1 to today's close of Rs 18.80 on the Bombay Stock Exchange (BSE). The company is also looking at setting up a software development center in the US.

According to company release it has decided to set up branch offices in the UK and the US so as to source business directly in the highly remunerative countries like the US and Europe.

Besides, it is in the process of acquiring the ISO 9001: 2000 certification and is aiming to become a strategic partner in its customer's business.

The company provides cent per cent back up facilities and end-to-end-server-centric access to web and Windows application. The company also provides information access and content analysis services.

Indo-City is also considering to enter the digital communications sector. The company is involved in delivering quality e-solutions, e-consulting and has developed end-to-end business solutions and application software solutions for pharma, chemicals, banking and engineering industries.