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Axiscades Technologies bags new contract from Airbus

Focused on the aerospace industry, Axiscades Technologies has again bagged a new contract from aviation giant Airbus to provide engineering services for product design and development and plant engineering for all its aircraft programmes.

Axiscades is also a preferred EMES (Engineering, Manufacturing Engineering, and Services Strategic Suppliers) supplier for Airbus.

Axiscades and Airbus have worked together for over a decade. This is the fourth time that Axiscades has been awarded a contract by Airbus for engineering services, following a rigorous Joint Sourcing Optimisation campaign.

HGS approves share buyback amounting to Rs 1,020 crore

Business process management company Hinduja Global Solutions Limited (HGS) has approved a share buyback amounting to Rs 1,020 crore at a price of Rs 1,700 per share. The buyback will be on a proportionate basis through a tender offer process.

The Board approved a total pay-out of Rs 1,020 crore towards buyback representing 24.15% and 13.19 percent of the aggregate of the company’s fully paid-up equity share capital and free reserves, a statement from the company said.

HGS said the announcement of the buy-back follows multiple corporate developments in the last few weeks, with the company moving forward on its digital-led HGS 2.0 journey.

The company also appointed Ashok P Hinduja to the board and he takes over as the non-executive chairman.