Tata Consultancy Services (TCS) after market hours on Wednesday, 19 March 2014 announced the go-live of a new maintenance, repair and overhaul (MRO) application programme with PT Garuda Indonesia (Persero) Tbk. (Garuda Indonesia Airlines), Indonesia's national airline, via its aircraft maintenance subsidiary GMF Aeroasia.
Judi Rifajantoro, EVP Strategy, Business Development and Risk Management, Garuda Indonesia said, Garuda went through a rigorous MRO vendor selection process, and we chose TCS' SWIFT MRO solution based on Garuda's futuristic roadmap, ease of enterprise integration, lower TCO and proven track record. The first phase of Garuda's MRO transformation is now complete and in production, and phase two is coming soon, further helping the airline deliver exemplary aircraft maintenance services in line with our strong growth and development of a global leading airline brand."
Vish lyer, President, TCS Asia Pacific said, "Garuda's go-live announcement today is another outstanding milestone in the airline sector for TCS Asia Pacific, further solidifying our marquee list of national and top-tier carriers from all corners of the region. TCS looks forward to continued growth in our partnership with Garuda, and we are committed to delivering the highest level of technology and services to help grow the rapidly expanding aviation market in Indonesia".
Garuda Indonesia, the national airline of Indonesia connects more than 64 destinations, which include 40 domestic and 20 international destinations worldwide.
Shares of Financial Technologies (India) (FTIL) will be watched after the Securities and Exchange Board of India (Sebi) removed its "fit and proper" designation on FTIL on Wednesday, 19 March 2014, and ordered it to sell its entire stake in the country's third-largest stock exchange. Companies need the "fit and proper" designation to be allowed to operate exchanges in India.
A person who is not 'fit and proper' to hold shares in a commodity futures exchange cannot be a 'fit a proper person' to hold shares in the recognised stock exchange and the clearing corporation, Sebi order said.
Sebi ordered FTIL to sell its 4.99% stake in MCX-Stock Exchange (MCX-SX) within 90 days.
The regulator also ordered the company to sell its stake in clearing house affiliate MCX-SX Clearing Corporation and minority shareholdings in unaffiliated exchanges, including a stake of about 1% in National Stock Exchange of India.
SKS Microfinance said that on 19 March 2014, it completed the tenth securitization transaction during the current financial year of Rs 26.73 crore. With this, the total sum of securitizations completed in the financial year ending March 2014 (FY14) (year-to-date) is Rs 1377.94 crore. The entire pool qualifies for priority sector treatment as per RBI's priority sector lending guidelines. The pool is rated A1+ (SO) by a leading rating agency signifying a very strong degree of safety regarding timely payment of financial obligations'. Such instruments carry the lowest credit risk.
Patel Engineering at its extraordinary general meeting (EGM) held on Wednesday, 19 March 2014 through a special resolution proposed to offer, issue and allot 69.79 lakh zero coupon optionally convertible preference shares (OCPS) at Rs 1 each fully paid-up aggregating Rs 69.79 lakh to promoters of the company on preferential basis with a option to convert partially or fully in one or more tranches at Rs 57.50 each (including securities premium of Rs 56.50).
Bombay Rayon Fashions after market hours on Wednesday, 19 March 2014 said it has declared a lock-out at its mill division located at Dodaballapur, Bangalore.
Engineers India turns ex-dividend today, 20 March 2014, for interim dividend of Rs 3.50 per share for the year ending 31 March 2014.
Hexaware Technologies turns ex-dividend today, 20 March 2014, for final dividend of Re 1 per share for the year ended 31 December 2013.
Jayant Agro Organics turns ex-dividend today, 20 March 2014, for interim dividend of Rs 2.50 per share for the year ending 31 March 2014.
KSB Pumps turns ex-dividend today, 20 March 2014, for final dividend of Rs 4.50 per share for the year ended 31 December 2013.
Garden Silk Mills said that its board of directors at a meeting held on Wednesday, 19 March 2014, approved the proposal for issue/allotment of 18.42 lakh equity shares of Rs 10 each fully paid up at a premium of Rs 28 per share to the warrant holders, part of promoters group on exercise of conversion option. The aforesaid equity shares so allotted on conversion of the share warrants shall be locked-in for a period of three years from the date of allotment in terms of SEBI (ICDR) Regulations 2009 and rank pari passu in all respects with the existing fully paid up equity shares of the company, Garden Silk Mills said in a statement.
SREI Infrastructure after market hours on Wednesday, 19 March 2014 in a clarification issued with regard to news item titled "Reliance Jio in pact with Viom for towers" said that the company has a minority interest in Viom Networks (Viom), which is an unlisted company. Viom has, in its ordinary course of business, signed an infrastructure sharing agreement with Reliance Jio wherein Reliance Jio would use Viom's telecom towers to provide its services. It is therefore, not possible or practical for Srei to keep track of every management action of Viom, the company said. Srei has not issued any press release or report in this regard, it added.
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