Cmc c

Shares of IT firm CMC tumbled over 14 per cent on Friday, wiping—out Rs 953.87 crore from its market capitalisation, after announcement that the company will be merged with Tata Consultancy Services. Scrip of the Tata Group company plunged 14.40 per cent to settle at Rs 1,872.65 on the BSE. In intra—day session, it tumbled 16.25 per cent to Rs 1,832.05. At the NSE, it slipped 14.49 per cent to end at Rs 1,862. Massive sell—off in the stock pulled down the company’s market value by Rs 953.87 crore to Rs 5,674.13 crore. On the volume front, 1.18 lakh shares of the company changed hands at the BSE, while over 5 lakh shares were traded at the NSE during the day. The stock came under massive selling pressure in a knee— jerk reaction to merger announcement and overall weakness in IT stocks. The BSE IT index was down 4 per cent and ended at 10,130.95. The Board of Directors of CMC and TCS have approved the amalgamation of CMC with TCS pursuant to and subject to the provisions of … [Read more...] about CMC shares crash over 14 pc after merger announcement with TCS

CIRD and the Institute of Information, Technology and Telecommunications sign agreement to boost training on scientific researches. — Photo VNS HA NOI (Biz Hub) – CMC Group announced on June 26 in Ha Noi, they were setting up an institute that would conduct research in technology applications and develop high tech products and services. The research conducted by the CMC Institute of Research and Development (CIRD) would also help in improving the group's competitiveness. The institute has a charter capital of VND5 billion and operating capital of VND100 billion. The capital would be mobilised from loans and donors. Speaking at the ceremony, Nguyen Trung Chinh, the group's General Director, said CMC has clarified on the most important strategy to become a creative group. According to international standards, the turnover of creative activities would have to account for 30 per cent of the companies. "The institute has been a part of the strategy," Chinh said, adding that … [Read more...] about CMC Group launches R&D Institute

Dang Tung Son, CMC Telecom’s deputy chief executive officer. — VNS Photo CMC Telecom on Sunday announced it has become the first service provider in the world to achieve Metro Ethernet Forum (MEF) 3.0 certification. The certification represents CMC Telecom’s ability to deliver standards-based local, national and global Ethernet services that are seamless, with the same interoperability and performance features no matter the location. The world’s three first certified MEF 3.0 service providers included CMC Telecom, Ciena and H3C. Dang Tung Son, CMC Telecom’s deputy chief executive officer said MEF 3.0 certification demonstrated the company’s continuing commitment to offer today’s most advanced, high-performance and secure Ethernet services across its global footprint. “This achievement validates CMC’s ability to provide the highest level of performance and assurance available in today’s market for connectivity services based on globally recognised standards”, said Nan Chen, … [Read more...] about CMC Telecom awarded world’s first MEF 3.0 certification

A CMC data centre. The Vietnamese technology group has decided to sell 25 million shares to Samsung SDS, the IT arm of global phonemaker Samsung, to raise VND750 billion (US$32.25 million) and strengthen its business operation. — Photo courtesy of CMC Technology group CMC will sell 25 million shares to an arm of Samsung SDS, a subsidiary of the South Korean tech giant Samsung Group. CMC hopes the shares will be sold for least VND30,000 (US$1.29) per share, the company would raise VND750 billion ($32.25 million) from the deal. Sixty per cent of the capital raised, or VND450 billion, will be invested in CMC’s member companies. The remaining capital will be spent improving the firm’s infrastructure and facilities. The buyer could be either Samsung SDS Co Ltd or Samsung SDS Asia Pacific Pte Ltd. Both are members of Samsung SDS, which is the IT and logistics arm of Samsung Group. Samsung SDS will own a 25 per cent stake in CMC’s capital after the deal. CMC is listed on the Ho … [Read more...] about Tech group CMC partners with Samsung’s IT arm to strengthen business

Tech group CMC to run BIDV’s Trade Finance software By Le Hoang Representatives of BIDV and Surecomp shake hands at a signing ceremony to kick off the BIDV Trade Finance software project on September 3 in Hanoi – PHOTO: CMC HCMC – CMC Technology Corporation announced today, September 4, that it will operate and provide first-line support for the Trade Finance software recently installed at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) once it is put into service. Earlier, BIDV and Surecomp, global leading providers of trade finance solutions for banks and corporate clients, signed a contract and kicked off plans to procure and apply Trade Finance software at the bank on September 3 in Hanoi. CMC serves as a Surecomp subcontractor in applying trade finance solutions at BIDV. The software will enable the bank to offer quick responses to meet clients’ demand for trade finance services and improve the bank’s competitive edge in … [Read more...] about Tech group CMC to run BIDV’s Trade Finance software