Ernst & Young begins Sparsh Comm valuation

	Financial Daily from THE HINDU group of publications Wednesday, March 08, 2000

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Ernst & Young begins Sparsh Comm valuation

Our Bureau

HYDERABAD, March 7

CONSULTANT Ernst & Young has taken up the process of ``valuation'' of Sparsh Communications Ltd, the Hyderabad-based IT company engaged in project management services, software development and Web-technology based applications.

Sparsh Communications, which is part of the diversified Sanghi Group, is planning to go in for private placement. The company plans to use the funds for its growth plans. It has invested about Rs. 40 crores and plans to invest another Rs. 40 crores.

The Ernst & Young report is expected to be ready within a fortnight, according to the Vice-President of Sparsh, Mr. Sunil Parekh.

The Sparsh Chairman and Managing Director, Ms. Anjana Sanghi, said the success of the company's Highway Automation System (HAS) network has led to the introduction of several value-added services such as the company's Electronic Freight Transfer System ( EFTS), HASMAIL, a messaging system and HAS services.

The company has lined up a host of products and services. In addition, Sparsh has launched Sparshbazaar.com, a women's portal site.