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PTC arm raises Rs 100 crICTT project to be operational by JuneGenpact Q4 net income dips to $34.6 mn‘Istithmar sells SpiceJet stake for Rs 1.6 bn’

: Calsoft hives off 51% stake in IDC

NSE listed firm, California Software Ltd (Calsoft), having major operations in the US and Chennai, has divested its entire 51% stake in education-based IT solutions company Informed Decisions Corporation (IDC) through the wholly-owned former's subsidiary CSWL for $36 million. US-based private equity firm, Higher One has bought Calsoft stake in the transaction, according to a release from Calsoft. Following this deal, the Indian IT company still remains the IT solutions partner to IDC through its offshore development platform in India, added the release. Sam Santosh, CEO of Calsoft group at US, said, “We plan to deploy the return from this sale to make similar investments.”

HPCL complex put on hold

State-run oil refiner Hindustan Petroleum Corporation (HPCL)-led consortium has temporarily put on hold its proposed Rs 30,000 crore petrochemicals complex at Visakhapatnam, a top official said on Friday. “The project has been put on hold because demand for petrochemicals has gone down,” HPCL chairman and managing director Arun Balakrishnan said.

Bharati Shiptard open offer

Bharati Shipyard Ltd has said it would abide by guidelines issued by Sebi on Great Offshore open offer. UA Patel, company secretary, Bharati Shipyard, said, “We have initiated steps on the open offer to Great Offshore shareholders as per Sebi’s guidelines under Regulation 10 of Sebi (Substantial Acquisition of Shares & Takeover Regulations, 1997). We have not made any such statement in relation to contesting of Sebi order as reported by the media.”

HCL Tech Brazil centre

HCL Technologies on Friday said it has opened a global IT development centre in Sao Leopoldo, Brazil, to cater to clients in Latin America, North America and Europe. The centre, which compliments HCL’s operations in Sao Paulo, is expected to hire over 300 engineers by 2012, the company said in a statement.

IDBI SLR bonds

Public sector lender IDBI Bank on Friday announced the repayment of its 11.50% IDBI SLR Bonds 2009, 55th series on January 9, 2010. No interest will, therefore, accrue on the bonds after January 8, 2010, and no request for transfer will be allowed after December 9 this year, the bank said in a press release.

SBI launches mShop