Electrical and Gulf Projects Operating Company, a part of L&T's construction segment, has pocketed orders worth Rs 5.82 billion for 4 electrical projects in India and United Arab Emirates.

The further details of projects pocketed by the company from its various clients are as follows:

ARSS Infrastructure Projects has opened for subscription its initial public offering today through which the company plans to riase about Rs 103 crore.

The issue will close for subscription on February 11, 2010. The price band for the issue has been fixed at Rs 410-450 per share. At the upper price band the issue will constitute 16.67% of the post-issue equity capital of the company.

The shares of the IT companies are rising once again as the top four players in the industry reported results which were better than street expectations. The sector also resumed hiring in the December quarter after adding only a few employees in the earlier quarters.

Some experts however believe that there is not enough growth prospect left in the near term after the upside rally by IT sector shares. The shares of TCS, Infosys, Wipro and HCL rose by 2% on top of 4% growth in the previous quarter, on an aggregate basis. Their aggregates net profit also rose 6% in the quarter.

Eveready Industries India (EIIL) has come in arena again for acquiring an Rs 200-crore domestic FMCG Company in India. The buyout is expected to be completed within next financial year for which a team of executives have been constituted. EIIL has also expedited its efforts for increasing its business turnover to Rs 2,000 crore within three years.

The investment arm of the emirate of Dubai, Istithmar has sold most of its 13.4% stake in the domestic low cost carrier SpiceJet. This move is most likely fallout of the financial crisis faced by the emirate during recent months.

On Friday, Istithmar sold the stake for Rs 170 crore in two block deals at Rs 53.75 per share. About 66% of this stake was purchased by domestic mutual funds and the remaining by a foreign Institutional investor.

Africa's second largest producer of Metals, Gold Fields Ltd.'s plan to move to a 6 day week for workers in order to increase the productivity has been criticised by Royal Bank of Canada, who believes that it will only amount to increase the fatigue in the workers, hence negatively affecting the productivity.

In a declaration, Ministry of Communications and Information Technology of the Indian government announced that Bharat Sanchar Nigam Ltd. (BSNL) will launch its the 4th Generation Wireless Broadband Service in the NCR this month.

Shri Sachin Pilot, the Minister of State for Communications and IT stated that the Greater Noida area of Dhankot will be the first to get WiMax service.

The public sector company said that other parts of the region including Bisrakh, Dadri, Jewar and Jahangirpuri will be covered by the next financial year.

Fame India managed to lock itself at the upper circuit limit of 5%, hitting a 52-week high of Rs. 48.40 after Inox Cinemas officially announced that it is all set to take over 43% stake in Fame India, a deal which will cost Inox Rs. 66.5 crore.

The announcement came through during peak trading hours on Wednesday, on 3 February 2010, when the stock had closed at the upper circuit limit of 5%, hitting Rs. 46.10 on the BSE. In four consecutive trading sessions, the stock has managed to climb by 21.15%.

The electric vehicle charging station infrastructure provider, Coulomb Technologies, has raised $14 million in the Series B venture funding round. The funding round was led by two companies, namely Voyager Capital and Rho Ventures.

Coulomb technologies has secured this fund with a view to expand in the market of powering EVs. Particularly, the fund will be used to finance its Research and development, operations capital and sales. Coulomb has further plans to penetrate in the worldwide markets including Asia and South America.

Aurobindo Pharma Ltd., which is primarily based in India, has reportedly received the final nod for its anti - allergic drug, Cetirizine Hydrochloride Solution from the USFDA. The approval for the drug is under the OTC category which is also called the over - the - counter category for products.

The German luxury carmaker, BMW said that it is aiming at double-digit increase in sales in the 2010. The company expects growth in the high end segment in the country.

About 9,000 cars were sold in the luxury car segment in the country in 2009. This segment is to grow to 11,000 units this year and BMW wants to capatalise on this. The company holds 41% share in the luxury car segment.

BMW sold 3,690 units in 2009 and expects to increase it this year, expressed Peter Kronschnabl, President of BMW India.

Netflix Inc. has entered into agreements with a number of distributors of independent films to make the media available to its members. The agreement will allow Netflix members to instantly watch hundreds of new independent titles in addition to the films already available through the Netflix service.

Top car manufacturer Maruti Suzuki will roll out another compact car named Maruti Cervo, in India by the second quarter of the existing year (2010).

Cervo, which sports 54bhp and 660cc engine, will give a strong competition to small cars.

Priced between Rs 1.5 lac to Rs 2.5 lac, Cervo will be a replacement to the company's best-selling models including 'Alto' and 'Wagon R'.

At this cost, Cervo is surely a tough competitor to Tata's cheapest car 'Nano'.

It has appeared that an order worth Rs 42.79 billion from the Indian Air Force would soon be in hands of State-run defence equipment maker Bharat Electronics, under which it will be expected to supply 750 Akash surface-to-air missiles.

While referring to the Indian Air Force, Federal Defence Minister AK Antony said that after testing it in two squadrons last year, they have placed orders for six more squadrons.

He continued further that it will be in stages that the missile systems would be delivered.

The largest producer of the alloy in India, state run Steel Authority of India Ltd, has announced a rise in steel prices of Rs 500 per tonne for flat products.

"The price rise is in line with the market," said RK Singhal, SAIL spokesperson.

Analysts say the price rise was mainly due to very high input costs and increasing prices in the international market.

India's largest housing finance company, HDFC has come out with a monthly deposit plan which offers a floating rate of interest for its customers. The rate of interest in the country is expected to go up in the coming months.

The scheme known as 'HDFC Systematic Savings Plan' will be first of its kind for the bank. The interest rate of the scheme will be linked to the benchmark rate and will be reviewed at the beginning of each calendar quarter.

Multiplex operator INOX Leisure, a wholly division of Gujarat Fluorochemicals, announced that it has bought 43.28% equity stake in Fame India for Rs 66.48 crore.
Inox will purchase around 1,50,57,760 shares of Fame India for Rs 10 each, through a block trade in a single or multiple portions.
This acquirement will be accompanied by an open offer to get hold of another 20% in Fame India by making an open offer to the stock holders
The deal is completely funded by Gujarat Fluorochemicals.

Electronic giant Sony has delivered a new line of entry level notebooks. The affordable notebooks will come in chic new colors and is going to be known as VAIO® E Series.

Talking about the E series Mike Abary, Senior Vice President, VAIO business group at Sony said, "Sony is once again bringing innovation to the PC industry."

E series has the state of art technology. It consists of edge-to-edge keypad and has an inbuilt numeric pad. Besides, the notepad will have three unique hardware buttons to make it more user-friendly. It would also consist of technology which would help to have easy access to the Internet.

Toshiba JSW Turbine and Generator Pvt. Ltd, a joint venture between JSW Energy and Japan-based Toshiba Corporation has planned Rs 800-crore plant at Ennore near Chennai.

The deputy Chief Minster of Tamil Nadu laid the foundation stone on Monday. The plant near the southern city will manufacture super-critical steam turbines and generators for thermal power plants in India.

Siemens has decided to make an investment of Rs 16 billion by 2013 for venturing into wind turbine manufacturing and lifting subsisting production capacity.

Moreover, the company also aims to increase its head count in the country to 25,000 by 2012 from 17,000 currently to meet up its growth intentions.

Out of the total investment, around Rs 500 crore would be utilized for establishing a high end technology wind turbine manufacturing plant in India.