HCL Technologies is searching options to employ 2,000 people in the coming two months.

Functionaries of HCL Technologies stated in a communiqué that the conglomerate will also appoint over 200 people in a few months in Texas in order to support its new clients comprising Energy Future Holdings and Oncor.
 
Despite the economic slump, HCL remains as bullish as it was previous fiscal. It employed 15,000 people during the last year.
 

AXIS IT&T has announced that it has purchased 54.28% stake in Cades Digitech.

The sources informed that the conglomerate had finalized the share purchase contract with Nadathur Holdings and Investments the promoters of Cades Digitech.

The sources further informed that acquisition will assist AXIS IT&T acquire controlling stake in the company.

AXIS IT & T is a leading engineering design as well as business process outsourcing (BPO) services provider supplying -edge customer services to global clients
 

Radhe Developers India is planning to enter into new venture of leisure & hospitality business and for the purpose the Company is making discussion to acquire a resort in Cochin.

Presently, the Company is presently engaged in the construction Sector. However, the details of acquisition of resort will be intimated as and when finalized.

Last month, Ashish Patel and Prafulbhai Patel-prompted-Radhe Developers, has announced its plan to raise Rs 500 crore through various funds raising routes from domestic and international markets.

Glenmark Generics, the generics arm of Glenmark Pharmaceuticals on Thursday filed the draft red herring prospectus (DRHP) with SEBI for its initial public offer (IPO).

The company plans to raise Rs 550-600 crore from the share sale.

The raised funds from the IPO would be utilized to fund the growth plans of GGL, which was hived off as a 100 per cent subsidiary last year.

Nasdaq-listed Cisco Systems has decided to acquire Norwegian videoconferencing company TANDBERG.

Under the arrangement, Cisco will start a cash tender offer to buy all the outstanding shares of TANDBERG for 153.5 Norwegian Kroner per share for an aggregate purchase price of approximately US$ 3 billion.

The quoted price represents 11% premium to the previous day closing price of TANDBERG'S stock.

ValueFirst Messaging Private Limited today acquired Cellnext Solutions Limited, a subsidiary of Escorts Limited, for an undisclosed amount.

Cellnext with connectivity across all major telecom operators in the country is one of the leading enterprise messaging and mobile VAS players in the industry. The company has clients including Tata Sky, LIC, Citi Financial, American Express, ICICI Bank, as well as operators such as BSNL, Airtel, Idea, Vodafone, MTNL, Reliance, Spice, BPL.

Post acquisition, ValueFirst intends to run Cellnext as a separate company. However, the company would retain and grow the Cellnext brand.

Web18 Holdings, the internet arm of the Television Eighteen Indian Limited (TV18) has decided to raise $10 million (nearly Rs 47.70 crore) by allotting preferred stock.

Today, TV18 has also granted its permission for issuing of preferred stock of Web18 Holdings to NGP II Mauritius.

NGP II Mauritius Company Limited is a fund set up by Nokia Growth Partners, which is a premier global investor for growth stage companies in the mobile industry.

The raised amount will be infused into Web18 Holdings, Cayman, the internet arm of TV18, as strategic growth capital.

Sanofi-Aventis, a well-known pharmaceutical company, has entered into a binding agreement for the acquisition of Fovea Pharmaceuticals SA.

Incorporated in 2005, Fovea Pharmaceuticals, SA, a biopharmaceutical company, engages in the development and commercialization of drugs for the treatment of ocular diseases. It focuses on retinal degeneration, macular edema, glaucoma, and inflammation.

Unlisted telecom operator Aircel has entered into a 10-year tower-sharing agreement with state-owned Bharat Sanchar Nigam (BSNL).

Aircel, which currently has about 32,000 base stations, will now have access to approximately 45,000 BSNL towers across all its circles. However, the financial details of the deal were not disclosed.

Aircel, which is a part of Malaysia's Maxis Communications, has a subscriber base of over 24 million users till date. The company is present in 18 telecom circles and has license for a pan-India roll out.

Mphasis has informed that it has finalized the purchasing of AIG Systems Solutions (AIGSS), part of American International Group.

The sources informed that the company has brought to an end all the legal as well as the statutory necessities for the purchase of 100% shares of AIG Systems.

AIGSS is India's leading provider of information technology services and solutions to AIG companies around the world.

Gulf Oil Corporation, leading Hinduja Group Company, has announced that its arm known as IDL Speciality Chemicals has inked a contract with Biocon.

Under the contract, IDL Speciality Chemicals will market its Active Pharmaceuticals Ingredients (API) undertaking.

The financial details of the contract have not been revealed by the company. API is the basic raw material which is utilized in making medicines.     

Gulf Oil Corporation is basically a lubricant company, which also engages in explosives, consult dealing in mining as well as infrastructure contracts, specialty chemicals dealing in bulk drugs and pharmaceutical sector.

The country’s leading telecom service provider, Reliance Mobile, has come up with a new Value Added Service (VAS).

As part of its partnership with BIG Pictures, the company has launched a VAS for the upcoming Bollywood film “Do Knot Disturb”.

The service is meant for both the GSM and CDMA mobile subscribers of the company.

For this purpose, the operator has unveiled a unique “Do Knot Disturb” zone on its mobile VAS platform ‘R-World’.

Larsen & Toubro (L&T) Infotech has signed a multi-year, multi-million dollar contract with German semiconductor manufacturer, Infineon Technologies AG (IFX).

Under the arrangement, L&T Infotech will operate, maintain and develop SAP solutions within Infineon's enterprise landscape and provide these services out of Germany, Singapore and India.

Siemens, a global powerhouse in electronics and electrical engineering, has secured two orders worth Rs 360 crore from state-run Power Grid Corp (PGCIL) for commissioning of power substations.

The company stated in a communiqué that it has bagged two orders from PGCIL for setting up turnkey 765 kV substation each at Gaya in Bihar and Ranchi in Jharkhand.

The scope of work includes design, engineering, manufacturing, supply, installation, civil works, testing and commissioning of the complete substations on turnkey basis.

Diversified firm Siemens Ltd declared that it has secured two significant orders worth Rs 360 crore from state-run Power Grid Corp (PGCIL) for commissioning of power substations.

In a disclosure to BSE, the company said that it has won two orders from PGCIL for setting up turnkey 765 kV substation each at Gaya in Bihar and Ranchi in Jharkhand.

The time frame for the execution of the two projects is 27 months.

The scope of work includes design, engineering, manufacturing, supply, installation, civil works, testing and commissioning of the complete substations on turnkey basis.

Punj Lloyd, a global EPC player in the energy and infrastructure sector, has secured an order worth Rs 275.79 crore from Indianoil Petronas for engineering related works.

The order work includes designing, detailed engineering, supply, construction / installation, testing and commissioning of Propane / Butane / LPG Import Terminal at Ennore, Tamil Nadu on EPCC basis.

Earlier this month, the company received an order worth Rs 550 crore from state-run Mangalore Refinery and Petrochemicals (MRPL) for construction related works.

Parsvnath Developers, a major real estate player in the country, has revealed its plans to raise $35 million through private placements of shares.

The company is planning to raise $35 million through qualified institutional placements (QIP) route, which was launched last week.

The raised amount will be used to cut debt, which stands at about Rs 1,600 crore, and complete the existing projects. The company aims to reduce its debt burden to about Rs 600 – 700 crore by the end of this fiscal.

Bangalore-based software firm, MindTree Limited has finally agreed to acquire Bangalore-based Kyocera Wireless India Pvt. Ltd.

Under the arrangement, MindTree will make an upfront payment of approximately $6 million for the acquisition. Further payments will be linked to Kyocera Wireless' revenues in financial years 2010-11 and 2011-12.

The IT firm expects the acquisition to contribute about $9 million in revenues for the period Oct 2009 to March 2010, with profit after tax expected to be in the range of 13-15 percent.

On Tuesday, BNP Paribas SA announced that it is releasing a €4.3 billion ($6.28 billion) rights issue, with the aim of buying out the French government's stake. This would make it the country's first bank to reimburse the state funding issued at the height of the financial crisis.

France's biggest bank by market value specified that it will be able to reimburse the government's funds of over €5 billion with help from the rights issue, combined with shareholder equity from its scrip dividend of €750 million and a capital increase reserved for employees of €260 million.