Leading Indian software company NIIT Technologies has signed a multi-million pound deal with Britain's premier airline British Airways.

Under the three year deal, NIIT will provide support and testing of critical business applications across various business areas of the British Airways.

The deal arrives at a time, when the global airline industry is going through bad phase due to high fuel costs, declining sales and a credit crunch. British Airways is also looking at ways and means to reduce costs.

Educomp Solutions Ltd, a globally diversified education solutions provider, has signed an agreement with the Department of State Education Research & Training
(DSERT), Government of Karnataka for implementation of Computer Aided Education (CAE) in 1571 schools in the state.

The order is valued at Rs 109 crore and has to be executed over five years.

Apart from this, Educomp has also signed an agreement with the Government of Chhattisgarh for imparting CAE in 52 hostels.

Kolkata-headquartered McNally Bharat Engineering has secured an order worth Rs 115 crore from Bharat Heavy Electricals Ltd (BHEL), Bangalore.

The contract involves design, engineering, supply, E&C and structural steel works of coal handling plant mechanical equipments for GSECL, 1x500 MW UKAI Project. The contract is schedule to be completed in 18 months from the date of LoI.

Oilfield services firm Aban Offshore has informed that it has entered into an agreement with Husky Oil for leasing its jack up rig 'Deep Driller 5' offshore for drilling operation in China. .

According to official sources, the three-month contract would yield estimated revenue of $38.70 million (Rs 178 crore), for Aban Offshore, Subject to the fulfillment of conditions.

The deployment is to commence in direct continuation of its present contract, which is anticipated in the first quarter of 2009.

Two-wheeler maker Kinetic Motor has informed that it will invest up to Rs 30 crore in Mahindra Two Wheelers Pvt. Ltd to acquire 2.95 crore equity shares of the latter.

Behind this, the members of the company, have approved to increase its authorized share capital to Rs 93.56 crore by creation of new five lakh redeemable cumulative preference share of Rs 100 each.

During company's extraordinary general meeting, the board has passed the Ordinary Resolution by way of postal ballot under Section

Tata Power Company (TPCL), India's largest private sector utility power provider, has signed an agreement with State-run electricity major Damodar Valley Corporation
(DVC), to jointly explore options for capacity expansion, coal mining and establishing a research and development (R&D) facility.

Both firms also plan to increase the capacity of Maithon Power Limited (MPL) by over two-fold.

MPL is a joint venture between Tata Power and DVC, with Tata holding 76% stake.