HCL Infosystems launches operations in Qatar

With the launch, HCL Infosystems Middle East and Africa (MEA) aims at establishing a foothold to fully implement expansion plans in the region

HCL Infosystems has launched operations in Qatar through a strategic tie up with Dyarco International WLL, a leading business consultancy and subsidiary of Al Faisal Holdings in Qatar.

The company will offer a wide spectrum of ICT products that include computing, storage, networking, security, telecom, imaging and retail.
With the launch, HCL Infosystems Middle East and Africa (MEA) aims at establishing a foothold to fully implement expansion plans in the region.

One of India's top IT hardware, services and ICT system integration firms, the $2.6 billion HCL Infosystems is a one-stop-shop for all ICT requirements.
HCL has specialised expertise across verticals including telecom, BFSI, eGovernance and power.

HCL Infosystems MEA CEO Shivkumar Gopal said the Middle East is an extremely important market for the company, and Qatar is at the very centre of its growth.

"We are very pleased to launch our operations here. In Dyarco, we have found the right partners to establish a strong foothold in this market. By opening our Qatar office, we have now extended our arm in the region with complete resources to manage sales, services and operations locally," he was quoted by Gulf Times as saying.

Headquartered in Doha, Qatar, Dyarco International WLL provides services for establishing various businesses, both domestically and internationally.

"Our presence in Qatar represents a significant step for HCL Infosystems in our transformation strategy to accelerate growth in our targeted international markets offering a complete set of products, service and solutions," said Harsh Chitale, CEO and whole time director, HCL Infosystems Ltd.

"HCL Infosystems is now expanding its global footprint in the Middle East and African market with direct operations in Qatar to address the system integration, services and IT support requirements in these regions," he added.

In the late afternoon, HCL Infosystems was trading at around Rs46.25 per share on the Bombay Stock Exchange, 1.31% up from the previous close.

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Glenmark gets US nod for oral contraceptive pills

The approval is for Desogestrel and Ethinyl Estradiol tablets in the strength of 0.15 mg/0.02 mg and for Ethinyl Estradiol tablets in the strength of 0.01 mg

Glenmark Pharmaceuticals said it had received final approval by the US health regulator to market its oral contraceptive Desogestrel and Ethinyl Estradiol tablets in the American market.

Glenmark Generics Inc USA, a subsidiary of Glenmark Generics has been granted final approval for their abbreviated new drug application (ANDA) by the United States Food and Drug Administration (USFDA) for Desogestrel and Ethinyl Estradiol tablets, Glenmark Pharmaceuticals said in a statement.

The company will market their approved product as Viorele TM Tablets and plans to commence shipping immediately, it added.
 
The approval is for Desogestrel and Ethinyl Estradiol tablets in the strength of 0.15 mg/0.02 mg and for Ethinyl Estradiol tablets in the strength of 0.01 mg.

Viorele TM Tablets are generic version of Teva Women's Health Inc Mircette tablets, Glenmark said.

"According to IMS Health for the 12 month period ending December 2011, the total market sales achieved for Desogestrel & Ethinyl Estradiol tablets USP 0.15 mg/0.02 mg and Ethinyl Estradiol Tablets USP 0.01 mg were approximately $98 million," it added.

The company's current portfolio consists of 78 generic products authorised for distribution in the US market and 40 ANDA's pending approval with the USFDA.

In the late afternoon, Glenmark Pharmaceuticals was trading at around Rs308 per share on the Bombay Stock Exchange, 1.05% up from the previous close.

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BHEL to withdraw initial papers for FPO

BHEL had filed DRHP in September for the FPO under which the government planned to offload 5% stake in the company

State-owned equipment maker BHEL, which will announce annual results on Tuesday, said it would withdraw the initial papers for its follow-on offer that were filed with Securities and Exchange Board of India (SEBI).

"The Board of Directors of BHEL has approved the withdrawal of DRHP (draft red herring prospectus) filed by BHEL with SEBI," the company informed BSE.

The company said the decision has been taken after the receipt of "no-objection" for withdrawal of DRHP for BHEL FPO from the Department of Heavy industry and Department of Disinvestment.

The company filed DRHP in September for the follow-on public offer (FPO) under which the government planned to offload 5% stake in the company.
The sale of government's 5% stake in the power equipment maker was expected to fetch over Rs4,000 crore.

The government in July 2011 had appointed four merchant bankers -- Morgan Stanley, DSP Merrill Lynch (Bank of America), ICICI Securities and Kotak Mahindra Capital -- for BHEL's FPO.

On 30 August 2011, it had approved the disinvestment of 5% of its shareholding in BHEL. The government holds 67.72% stake in the entity.

In the late afternoon, BHEL was trading at around Rs265.05 per share on the Bombay Stock Exchange, 1.82% up from the previous close.

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