Tata Honeywell helps IOC in Manthan

In an effort to increase its operational efficiencies and margins, Indian Oil Corporation Ltd. has roped in Tata Honeywell Ltd. in its IT re-engineering project Manthan. Tata Honeywell Ltd has bagged a Rs 50 crore contract from IOC to implement supply chain management, scheduling and operations management solutions for the entire supply chain of IOC`s fuel business.

The scope of the project is likely to be further enhanced in future to cover additional areas and operations of IOC.

At the BSE today, IOC’s shares closed at Rs 215.50, down Rs 11.85 or 5.21 per cent against its previous close of Rs 227.35, while Tata Honeywell`s shares closed at Rs 223.00, up Rs 8.10 or 3.77 per cent against its previous close of Rs 214.90.

Source: IRIS