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Company Update: Infotech Enterprises

Company Update: Infotech Enterprises
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First Published: Thu, Jun 11 2009. 08 32 AM IST
Updated: Thu, Jun 11 2009. 08 32 AM IST
Infotech Enterprises Limited, a mid-sized software company focused on the Geospatial Information Systems (GIS) and Engineering Services spaces, has signed a multi-year contract with inCONTROL Tech (iTEC) to implement Enterprise GIS Information System for Tonaga National Berhad (TNB), an electric utility in Malaysia.
The implementation is a part of TNB’s long-term GIS roll-out plan for all their circles, nationwide. This is the first time that Infotech will be executing a multi-million dollar project that spans over five years for a Malaysian utility.
Under this project, Infotech and iTEC will offer an SOA-based solution (service-oriented architecture) for enterprise GIS information to TNB.
This implementation would help integrate and streamline business processes across various functions with TNB.
At the CMP, the stock trades at 7.8x FY2011E EPS. We believe these valuations are stretched and maintain our NEUTRAL view on the stock.
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First Published: Thu, Jun 11 2009. 08 32 AM IST
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