McNally Bharat Engineering, India’s leading engineering solutions company, announced that it has secured 2 orders worth Rs 2.44 billion from Vedanta Group.

London listed Vedanta Group is a metals and mining major with Aluminium, Copper and Zinc operations in India and Australia.

According to sources, the first order has been bagged for Vedanta Group’s 1.5 million tons per annum capacity lead zinc beneficiation plant located in Bhilwara, Rajasthan and the other is for aluminium handling package at Lanjigarh, Orissa.

ZTE USA, Inc., a division of ZTE Corporation, a top global telecommunications equipment and network solutions provider, declared that Smart PCS, an unlimited no contract pre-paid carrier, picked ZTE USA as the key CDMA infrastructure and device vendor partner to support its primary service launch.  

After recent reduction in Aviation Turbine Fuel (ATF), domestic air carriers are all set to cut air fares. Country's leading air carriers, Kingfisher Airlines and Jet Airways are likely to reduce fare by Rs 600 per ticket in January. Notably, Union Aviation Ministry has asked the carriers to pass the benefits of ATF cut to the customs by reducing air fares.  

After stiff opposition and controversy over Satyam-Maytas deal, Indian IT giant, Satyam Computers called off the acquisition of India-based companies Maytas Infra and Maytas Properties.

Earlier, the board of directors has approved the proposal to acquire 51% in Maytas Infra and 100% in Maytas Properties at USD 1.6 billion. Maytas deals in infrastructure and development projects besides asset development and urban space infrastructure development.

Owing to a dip in the passenger car sales, Toyota Kirloskar Motor Ltd (TKM), a joint venture between the Japanese auto giant Toyota and the Kirloskar Group, has decided to cut production by 30% during the current month.

Mr. Hiroshi Nakagawa, Managing Director, TKM stated, "This month, we are cutting production by 25-30 per cent. We will review the market scenario during the month. Accordingly we will decide for the next months."

The UK-based Axon Group has been acquired by HCL Technologies for £441 million ($658 million), marking the largest ever tech buyout by an Indian firm. HCL Axon, the new entity formed after the buyout, is now chasing outsourcing deals worth $1.2 billion.

The acquisition makes HCL's SAP business three times bigger than that of Satyam, its closest SAP competition in the domestic market. Satyam's revenues from SAP implementation is said to be about $150 million.