Tokyo - NEC Corp returned to the black in the second quarter of fiscal 2008 that runs through March 31.

The Japanese electronics company attributed a net profit of 1.28 billion yen (13.15 million dollars) in the July-September quarter to capital gains from selling shares. The result compared to a net loss of 5.72 billion yen in the same period a year before.

Operating profit for the second quarter plunged 42.4 per cent to 9.28 billion yen from 16.1 billion yen due to slow demand for telecommunication systems and microchips.

NEC reported sales of 1.13 trillion yen, up 0.5 per cent.

Big TV, the Direct-to-Home (DTH) service of Anil Ambani's Reliance Communications (RCom), claimed that it has become the fastest growing DTH player in the country, as it has crossed the magic figure of 500,000 subscribers within two months of its launch.  

According to the company's CEO Arun Kapoor, crossing the 5-lakh customer milestone within two months is indeed a testimony to the superior value proposition offered by BIG TV, and its success in accelerating the growth momentum of DTH sector in India.”

Mumbai-based Parle Agro, a leading food and beverage company, is aiming a Rs 3,500-crore turnover by 2010-11.

The proposed turnover is nearly four-fold rise from its present turnover of Rs 950 crore. 

Parle Agro plans to expand its distribution network through organic route and aggressive marketing strategy.
 
For starters, it has decided to expand production capacity of its mineral water, which is sold under the Bailley brand. 

Solar Semiconductor , a rapidly growing producer of high-quality photovoltaic (PV) modules, has announced its merger with US based Trans-India Acquisition Corporation. 

According to an official release, Trans-India has entered into a definitive agreement to acquire not less than 80% shares in the privately held Solar Semiconductor Ltd.

The proposed acquisition is valued at $375 million, which would be formalized once the US Securities and Exchange Commission (SEC) formally approves the amalgamation.