Telelogic, a global provider of software solutions for Enterprise Lifecycle Management (ELM), on Tuesday announced that it has signed a 5-year, $3.2 million license and maintenance agreement with an Asia Pacific aerospace defence manufacturer.
The agreement extends the existing contract and will see the company’s Australian division deploy all components of Telelogic’s solution for ELM across their business and development projects.
HDFC, SLAC realign their shareholdings
HDFC and Standard Life Assurance Co plc (SLAC), on Monday, have realigned their shareholding in HDFC Standard Life Insurance Company Ltd (HDFC SLIC), the joint venture life insurance company established by them.
As a result, HDFC has sold 7.15 per cent of the equity of HDFC SLIC to Standard Life (Mauritius Holdings) 2006 Limited at a pre agreed price. Post this, Standard Life (Mauritius Holdings) 2006 Limited holds 26 per cent of the equity capital of HDFC SLIC, the maximum allowed under current regulations.
Sinagreni Collieries on high growth trajectory in ’07-08
The Singareni Collieries Company Ltd (SCCL) has surpassed its target production by 1.185 million tonnes (MT) in the financial year 2007-08 up to December 2007. SCCL achieved 29.830 MT this fiscal up to December 2007, as against a target of 28.645 MMT, said SCCL CMD S Narsing Rao in Hyderabad on Monday.
The company for the sixth consecutive year is likely to surpass the coal production targets after a turn around since 2002-03, Mr Rao said. The coal production has witnessed a growth rate of 14.3 per cent over the corresponding period last year, Mr Rao added.
GAIL plans Rs 12,00 cr Dabhol-Banglore pipeline
GAIL India said it has plans to lay a pipeline from Dabhol to Bangalore at an estimated cost of Rs 1,200 crore and covering a distance of about 780 kilometers, GAIL Chairman and Managing Director U D Choubey said in Shirdi on Sunday. It also plans to lay pipelines covering nearly 6,000 kilometers, at an expected project cost of Rs 20,000 crore. The Dabhol to Bangalore project is expected to start by January, he told PTI.
Cosmo Films Ltd plans to raise Rs 33 crore
Cosmo Films Ltd, manufacturer of Bi-axially Oriented Polypropylene Films (BOPP) and Thermal Lamination film announced on Monday that it would raise Rs 33.17 crore through the issue of 31 lakh fully convertible warrants to the promoters on a preferential basis. The Cosmo board has approved the issue of these warrants, which will, subject to the approval of shareholders, be converted into equity shares within 18 months, a company press release said in New Delhi.
The aforementioned 31 lakh fully convertible warrants will be allotted at an exercise price Rs 107. Presently the promoters are holding 43.65 per cent of equity shares of the company and after conversion of all these warrants their total shareholding in the company will be 51.40 per cent. The proceeds of the issue are intended to finance the expansion in terms of capital investments and long-term working capital requirements.
