TATA group owned Tata Consultancy Services started its new IT development center in Bhubaneswar on Sunday. The development came when entire IT sector is facing the heat of global financial crisis. The new center was inaugurated by Orissa Chief Minister, Naveen Patnaik in a function held in state's capital. 

The function was also attended by Surjya Narayan Patro, Minister of Energy, Culture & Information Technology, Pradipta Kumar Mohapatra, Commissioner-cum-Secretary, IT, Orissa and TCS leadership team of S Ramadorai besides Managing director of Tata Steel, B Muthuraman.

Textile major Alok Industries has decided to raise Rs 450 crore through rights issue.

In a filing, the company informed that the board of directors have approved to increase in the size of the proposed rights issue to Rs 450 crore from Rs 300 crore earlier.

Last year in October, the board had approved a rights issue of equity shares or convertible instruments, up to Rs 300 crore.

Hyderabad-based company IVRCL Infrastructures & Projects Ltd has informed that the Buildings & Industrial Structures (B & IS) and Water Divisions of the Company have jointly bagged orders worth Rs 260.46 Crores.

Further, IVRCL quoted in a press release that company’s B&IS Division has picked first order worth Rs 92.51 crore from Bangalore Metro Rail Corporation for the construction of two elevated metro station viz CMH Road and Byappanahalli Station in Reach-I. The project is scheduled to be completed in 22 months.  

New Delhi based civil engineering contracting firm, Ahluwalia Contracts Ltd has informed that the company has secured various orders worth Rs 394 crore.

The company has secured first order worth Rs 72.84 crore from Delhi Metro Express for construction of Dwarka Depot including civil, building services and architectural work in New Delhi.

While, the second order, valued at Rs 50 crore has been received from Tata Medical Centre Trust, for construction of general building, finishing and miscellaneous works of Tata Medical Centre, situated at Kolkata.

The third order, which is for construction of D.N.Nagar Depot, Mumbai has been secured from Mumbai Metro One Pvt. Ltd. for Rs 184.09 crore.

Indian Oil Corporation (IOC) on Friday announced that the capacity of the most advanced refinery at Panipat shall be expanded from 12 million tonnes to 15 million tonnes, per annum, and the expansion would be completed by November this year at a cost of Rs. 14,000 crore.

The near by naphtha cracker complex and the hydro cracker project at Haldia would also be commissioned this year.

IOC Director (Refineries), B. N. Bankapur, said that the commissioning of the naphtha cracker and the downstream polymer units at Panipat would make it an integrated refinery cum petrochemicals complex.

On Thursday, it was announced by the Andhra Pradesh Chief Minister Y S Rajasekhara Reddy that the recent developments in the software giant Satyam group are not going to affect major projects in the state.

Reddy said to a pointed question on the fate of projects like the Hyderabad Metro Rail, entrusted to Maytas, “Satyam is Satyam. Maytas is Maytas. Right now we don't see any problem. Maytas will do it.”