I-Flapp’s storage device solution
I-Flapp Technologies Pte Ltd, a Singapore based-startup technology company promoted by Indians, on Thursday in Bangalore unveiled AppsD
(Application on Demand), one off world's first personal & portable solution for storage devices. The product is expected to usher in a new revolution in the PC market by squeezing most of PC's desktop applications onto external storage medias like SD card, USB pen drive, HDD and is targeted at $3 billion global end user market.  
SyndBank to sell gold coins
Syndicate Bank announced in Bangalore on Friday the launch of gold coins under the brand name “SYNDSONA” through 104 select branches spread across 8 States in the country. The coins are available in denominations of 4, 8 and 10 grams, in tamper proof card with 999.9 purity certificate. The bank has imported the gold coins from Switzerland and tie up arrangement should enable it  to offer competitive rates to its customers. Chairman C P Swarnkar announced that the rates of the coins will be competitive. The bank will be extending the coin sales to another 1000 branches soon, covering the country. 
EXIM Bank’s 5 pc  stake in SEL
SEL Manufacturing Company Ltd (SEL), a vertically integrated textile company based in Ludhiana, is coming out with a book built IPO of up to 46,38,410 equity shares. SEL is expected to hit the market some time during 3rd week of July 2007, the company's press release said in Mumbai on Thursday. EXIM Bank is subscribing to 7,60,800 Equity Shares of Rs 10 each of SEL at Rs 65 per Equity Share, including a premium of Rs 55 per Equity Share. This equity stake will be 5 per cent of the fully diluted paid capital of SEL after the IPO.
Oriental’s profit jumps by 75 pc
Oriental Insurance Company Ltd on Friday reported a 75 per cent jump in its net profit to Rs 497.27 crore for 2006-07 from Rs 283.91 crore in the previous fiscal. The company also declared a dividend of 100 per cent as against 50 per cent in 2005-06. Gross premium collections rose from Rs 3,609 crore to Rs 4,020 crore during this period. With surplus cash of about Rs 2,000 crore, the company plans to expand operations in the Middle-east countries, after doing a business of around Rs 90 crore in overseas markets including Dubai and Kuwait, the company said in New Delhi. 
Mastek in top 50 outsourcing cos
Mastek announced on Thursday that its been ranked in the top 50 global outsourcing providers in “The Black Book of Outsourcing” published by the Brown-Wilson Group. According to The Black Book of Outsourcing, Mastek was “rated number one by insurance vertical clients in large part for developing end-to-end mission critical solutions.” This independent ranking of global outsourcing vendors is based on surveys of C-level executives and other outsourcing decision makers.
Subhash Projects forms a JV
Subhash Projects and Marketing Ltd. (SPML), a leading EPC player, announced on Thursday that it has formed a joint venture company with Cyprus based Hydro-Comp through a 50:50 joint venture. Incorporated as Hydro Comp Enterprises India Pvt. Ltd., the company is headquartered in Chennai and will cater to the water utility market in India.
MFs beat returns of Sensex
Marketmen may be jubilant about the Sensex touching the 15,000-point milestone, but mutual fund investors are laughing all the way to banks, thanks to many funds outperforming the key index in the last 12 months. While the 30-share Sensex has grown about 40 per cent since July 2006, when it was quoting around 10,600 points, 106 funds have given higher returns than the bellwether. Among the best performing equity funds are Standard Chartered Equity with 79 per cent returns over a year, JM Basic (76 per cent), ICICI Prudential Services (75 per cent), ICICI Infrastructure (63 per cent) and DBS Chola (61 per cent) according to data complied by ValueResearchOnline on Friday in Mumbai.
The assets under management (AUM) of the 32 fund houses in the country have grown 25 per cent to over Rs 400,000 crore.