Religare Enterprises moves up with its energy saving initiative

Religare Enterprises is currently trading at Rs 324.75, up by 3.75 points or 1.17% from its previous closing of Rs 321 on the BSE.

The scrip opened at Rs 323.05 and has touched a high of Rs 324.95 with a low of Rs 323 on the BSE.

The BSE group ‘B’ Mid-cap stock touched a 52 week high of Rs 539.50 on February 4, 2008 and a 52 week low of Rs 274.50 on December 5, 2008.

The BSE Mid-cap index is currently trading at 2,889.68, down by 0.22% from its previous closing.

The price of the scrip has witnessed a positive change of 1.02% since last week and a negative change of 4.44% since last month.

Religare Enterprises (REL), one of the leading integrated financial services groups of India has entered into an IT infrastructure services agreement with IBM for deploying three energy-efficient & green Scalable Modular Data Centers (SMDCs) at a cost of $3.1 million.

IBM is designing, building and will be maintaining highly scalable, modular and energy-efficient green data centers in Delhi, Noida and Mumbai for REL. In addition, IBM will put in place the networking infrastructure and a disaster recovery solution for Religare. This will help Religare reduce annual power costs by 30-35% and enable it to effectively meet technology requirements for its expanding business.

IBM’s SMDC design leveraging high density computing and precision air-conditioning ensures a saving of more than 3600 units (KWH) per day in power consumption alone as compared to an 8,000 sq ft conventional data center. In a year, this represents a saving of nearly $250,000, or Rs 1 crore.