Patni Computer Systems, one of India's leading mid-size software services firm, Wednesday announced the launch of its business process outsourcing (BPO) solutions specifically designed for insurance companies.

The new BPO solutions would allow insurance companies to offload common record-keeping tasks associated with the administration of all contribution plans, said a statement issued here.

The service would also enable administrators to reduce overall programme costs and improve the quality of service while focusing their internal resources on their core business activities, added the statement.

According to Patni Computer, customers are increasingly turning to their insurance carriers to deliver more financial-oriented services serving as a one-stop shop to meet their future financial needs.

To meet this need, insurers have quickly moved to offer defined contribution plans as an extension of their existing portfolio of insurance services, it added.

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United Phosphorus buys Spain-based firm

United Phosphorus Ltd. said Wednesday it has purchased a Spain-based distributor and registrant of crop-protection products.

Under the agreement, United Phosphorus will buy all stock and related entities of CEQUISA, said a statement issued to the Bombay Stock Exchange.

This includes the company's assets, products, registrations, property and rights associated with the business of CEQUISA and its subsidiaries, added the statement.

The acquisition provides United Phosphorous with a strong platform to expand and strengthen its presence in southern Europe and northern Africa with a broad product portfolio.

After considerable growth in the US, the company has been actively pursuing opportunities for growth in the European Union. The CEQUISA buy is in line with its strategic push in Europe.

CEQUISA will be integrated into the European organisation of United Phosphorous based in Britain.

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Nagarjuna Construction bags three new orders

Nagarjuna Construction Company Ltd. said Wednesday that the company has secured three new orders that are likely to significantly boost its earnings in the current fiscal year.

These orders include a project from Gujarat Water Resources Development Corporation for construction of a pipeline project, said a statement issued to the Bombay Stock Exchange.

The company has also bagged a project from Delhi Metro Rail Corporation for construction of Metro Bhavan at New Delhi.

Nagarjuna Construction's third project has come from the Indian government's ministry of defence for construction of research laboratory at Hyderabad, added the statement.

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Macmillan board approves acquisition

Macmillan India Ltd. said Wednesday that the board of directors of the company has approved the acquisition of a typesetting company.

The board of directors of Macmillan approved the takeover of Cheron Tec Private Ltd. after a meeting Wednesday, said a statement issued to the Bombay Stock Exchange.

The company didn't give financial details of the acquisition deal. The acquisition is pending necessary formalities and documentation procedures, added the statement.