Virinchi Technologies surges on tie up with Qualcomm....
--------------------------------------------------------
Virinchi Technologies was locked up at the 10% ceiling at Rs 74.55 and notched up a huge 14.03 lakh shares as volumes at that level on BSE.


The stock has been range-bound in the past two months, between Rs 60 and Rs 70.

Virinchi Technologies, the Hyderabad-based products and services provider, hit the roof today after it forayed into mobile applications covering gaming, and enterprise solutions.

Virinchi Technologies is partnering with Qualcomm to set up a BREW centre, and with Mobitas to develop a solution for the construction industry. BREW (binary runtime environment for wireless), pioneered by Qualcomm, helps to run various mobile applications. It is referred to as BuildPlans, a joint IP developed at Hyderabad which helps people in the construction industry to send ground information to the office using mobile phones, capturing local data.

Virinchi Technologies, in partnership with Mobile Websurf, earlier developed a solution for mobile phones where a user can access and send information using his mobile phone as if he were working on a PC.

Virinchi’s mobile applications group has also developed interactive games for an environment where multiple mobile users function which can now be played individually.

Virinchi Technologies is set to hike its authorised capital from Rs 13 crore to Rs 18 crore and also make a preferential offer. The offer is to be made to both strategic investors and promoters, and is priced at Rs 67 per share.

Virinchi Technologies provides consultancy services in the field of information technology and infrastructure. It has four strategic business units consisting B2B e-commerce, enterprise wide resource planning solutions, networking, and services.

For the quarter ended 30 June 2005, the company reported a 144% jump in net profit to Rs 1.95 crore on net sales of Rs 6.04 crore. Net sales also jumped by 150%.