The manufacturer of luxury automobiles and sports cars – Porsche SE is set to expand its operations in India. The Stuttgart, Germany based Porsche is planning to increase its presence in the automobile market in India. 

Porsche, which is known for its Cayenne SUV and sports cars like the 911, Boxster and Cayman, is presently selling its automobiles in India via import route. The company is now planning to expand the number of its dealerships to 11 beyond the present Delhi and Mumbai showrooms. 

With Bharti AXA Investment Managers failing to make much of an impression in the market, Bharti Enterprises is working its way out of the mutual fund joint venture with the French biggie AXA, almost after a year of the registering of the asset management company. The fund, which started its operations in July 2008, had assets under management of Rs 186 crore as of February 2009.

The Bharti decision to exit Bharti AXA Investment Managers - in which Bharti Ventures has a 25 percent stake, while AXA Investment Managers Asia Holdings holds the remaining 75 percent - will not affect its affiliation with AXA in the sphere of life insurance and general insurance.

Larsen & Toubro, the country’s largest manufacturer of equipment for the nuclear power sector, has announced that it has received an order from Bhutan.

The project to be executed by L&T’s construction division is for the construction of the Dam Package, which is a part of the 1,200 MW Punatsangchhu-I Hydroelectric Project Authority in Bhutan.

The project is being set up by the Punatsangchhu-I Hydroelectric Project Authority that has been constituted through a contract between the Indian Government and the Royal Government of Bhutan. 

Aurobindo Pharma announced that it has secured tentative approval from US Food and Drug Administration (USFDA) for Emtricitabine and Tenofovir Disoproxil Fumarate 200-mg/300-mg tablets under the President's Emergency Plan For AIDS Relief (PEPFAR).

Emtricitabine and Tenofovir Disoproxil Fumarate tabs, which come under the Anti-Retroviral (ARV) segment, are the generic version of Gilead Science Inc.'s HIV drug Truvada tablets.

With news making rounds about the likely acquisition of a substantial stake by Fortis Healthcare in the Wockhardt Ltd's division Wockhardt Hospitals, the pharma company's shares leaped 10 percent on the Bombay Stock Exchange.

According to the Economic Times report, unnamed sources said that Fortis is expected to strike a broad deal for buying up to 74 percent of unlisted Wockhardt Hospital chain for nearly Rs. 7.5 billion. Sources also say that though private equity firms General Atlantic and Advent were also in pursuit, Fortis is on the brink of wrapping up the deal.

According to iSuppli, the world's largest mobile handset brand Nokia is stepping out of the third-party manufacturing arena, and will thereby spend $5 billion on the manufacturing of handsets.

Citing weak global demand for mobile devices as the reason for stopping the use of outside contract manufacturers for the assembly of its phones, Nokia said it will pull back outsourced production to Electronics Manufacturing Service (EMS) providers and Original Design Manufacturers (ODMs).