Natraj Fin to acquire OGO brand from Bright Telecom

MUMBAI (makemystocks): Natraj Financial & Services Ltd (BOM:512047) has forayed into telecom business as the company today signed a memorandum of understanding with Bright Telecom India Pvt Ltd. The company shares were trading at Rs.89.55 on Bombay Stock Exchange, up by close to 5% from previous close.

Natraj will acquire 'OGO' brand from Bright for telecom devices including mobile phones and telecom services, Natraj said in a media release today.

The company eyes nearly Rs.2 billion worth of revenues from this business during 2010-11, which may rise to Rs.7 billion next year.

Bright will handle the telecom business of the company. Besides Bright, Natraj has also joined hands with telecom leader, Huawei Telecom Devices, Map my India, Synchronica PLC and Aircel to provide telecom related services.