HCL Info bags order for border check posts in Maharashtra

HCL Infosystems said that the project was awarded by Sadbhav Infrastructure and entails design, supply, installation, commissioning and maintenance of the system for the next 10 years

IT hardware firm HCL Infosystems said it has bagged a project to implement automation, computerisation and integration solutions at 22 border check posts (BCP) in Maharashtra.

The project was awarded by Sadbhav Infrastructure and entails design, supply, installation, commissioning and maintenance of the system for the next 10 years, HCL Infosystems said in a statement. However, no financial details were disclosed.

Three Maharashtra state government bodies—the Department of Transport, Department of Sales Tax and Department of Excise—will share and use the common ICT solution for their respective functions.

The integrated BCPs shall have combined facilities for clearance and checking of commercial traffic by all three departments, the statement said.

The proposed modernisation with computerised BCPs will help road users and reduce clearance time, thereby increasing efficiency of the departments, it added.

"We thank the Maharashtra government and Sadbhav Engineering for providing us an opportunity to employ our proficiency and expertise to provide an efficient and optimum system," HCL Infosystems COO (Enterprise Business Unit) Rajeev Asija said.

In the late afternoon, HCL Infosystems was trading at around Rs50 per share on the Bombay Stock Exchange, 1.75% down from the previous close.

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Sundaram MF introduces Capital Protection Oriented Fund 3 Years (Series 7)

Sundaram MF new issue closes on 19th December

Sundaram Mutual Fund has launched Sundaram Capital Protection Oriented Fund 3 Years (Series 7), a close-ended income scheme.

The objective of this scheme would be to seek income and minimise risk of capital loss by investing in a portfolio of fixed income minimise risk of capital loss by investing in a portfolio of fixed income securities. The scheme may invest a part of the assets in equity to seek capital appreciation.

The new issue closes on 19th December. The minimum investment amount is Rs5,000.

CRISIL MIP Blended Index is the benchmark index. Dwijendra Srivastava is the fund manager for debt portion and Srividhya Rajesh is the fund manager for equity portion of the scheme.

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IFCI launches tax saving long term infrastructure bonds

The face value of the IFCI bond is Rs5,000

IFCI is the latest company to offer 80CCF infrastructure bonds. The 10 year option offers 9.09% interest rate and the 15 year option provides 9.16% interest rate.

The issue will close on 16 January 2012.

The face value of the bond is Rs5,000. The buyback option is available at the end of fifth and seventh year. The bonds will be listed on the stock exchange after the initial five years are over and they will list on the BSE.

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