CALCUTTA, June 25: International Business Machines Corporation, the world's largest information technology company, is likely to increase its stake in Tata Information Systems Ltd, which became Tata IBM Ltd from Wednesday.

The new name was officially announced here on Wednesday by Mukesh Aghi, TISL's marketing and sales president. No official from IBM was present. The new logo of the company was also unveiled.

"There is a clear need for the company to project itself in the market as an IBM and Tata company, and leverage this relationship," Aghi said. It is a synergy of two big brand names and the joint venture should be seen as a third entity.

Asked whether IBM was insisting on changing the logo, he replied, "we both agreed to change it."

He said the company will continue to be a 50:50 joint venture between the Tatas and IBM. Asked if he saw IBM increasing its stake, Aghi said: "There is no such possibility at this moment."

But he added that the two companies are discussing various issues, and the talks could include the scope for IBM to increase its stake. "At this moment I cannot say anything more concrete since that may mislead people," he said.Asked about the possibility of setting up a global subsidiary of Tata IBM Ltd, he said, "We dont have such plans at this moment, at least I am not aware of that."

He said that IBM Global Network in India will be launched during the latter part of the current year. Talks are on with the department of telecommunications and with Videsh Sanchar Nigam Ltd for international connectivity, he said.

IBM's technology and solutions for the Indian industries will provide a distinct competitive edge in the era of globalisation, he added. In 1996-97, TISL earned a revenue of Rs 550 crore and the rechristined company expects a growth of 15-16 per cent during the current fiscal, he said.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.