Patel Engineering Ltd, a leading civil-infrastructure construction conglomerate, has informed that it has secured order worth Rs 695.57 crore from the Andhra Pradesh State Government for the modernization of the Krishna Delta System. 

According to the sources, the project will execute massive modernization programme of the major river delta systems to enhance irrigation potential along the development of Bantumilli Canal, Polarj Canal, Campbell Canal, Dosapadu Channel, Kunderu Channel, East Bank Canal, Gudivada Channel and their distributaries. 

NIIT Technologies, a leading Software services provider, announced that it has bagged a worldwide sourcing contract from US-based American Safety Insurance Services Inc.

The source close to the company said that under the terms of the order, New Delhi headquartered NIIT will offer migration, configuration and customization support for American Safety's suite of applications.

The source also revealed that the work will be executed cooperatively in an onshore - offshore model between India and the United States. 

Jindal Steel and Power (JSPL) has made announcement that the company envisages to float a wholly-owned subsidiary company, named Jindal Petroleum.

According to the sources, the proposed unit of the JSPL would look after the domestic and international oil and natural gas operations of the conglomerate.

Also, the company has take over exploration rights to one oil block in Rajasthan, four blocks in Georgia and three blocks in Peru, which will form part of its new arm. 

Recently, the company along with Namibia-based Enigma Oil and Gas Exploration (EOGE), secured exploration rights to three onshore oil blocks in the Maraon and Huallaga basins in northern Peru.

Bharat Heavy Electricals (BHEL) has informed that the company is in talks with Infrastructure Leasing & Financial Services (IL&FS) for financing its overseas operations.

According to the sources, the two conglomerates will soon enter into a memorandum of understanding (MoU), under which IL&FS will offer the financial packages for BHEL`s international project.

With the view to diversify its business footprints in the international business arena, the public sector unit, is eyeing to make its entry in West Asia, Europe and Africa.

The stock analysts have suggested traders to stay invested in BHEL for long term gains. 

Domestic Drug-maker Lupin, acquired 60 percent stakes in South Africa-based Pharma Dynamics. The amount of deal is not disclosed by the company. It is the third acquisition by the company. Earlier in July, Lupin took over the German drug maker Hormosan Pharma and captured most of shares of Generic Health, Australia in August. 

RIL, in collaboration with China National Petroleum Corporation (CNPC) and Argentina's Pluspetrol, have bagged rights on Block 155 to extract oil.

The block 155 lies in Southern highland region of Puno, next to the Bolivian border. Since April this yea, it has acquired 90 percent stake in Block 141 in Peru from Pan Andean Resources Plc, In May it acquired 50 percent in block 108 in Peru from Pluspetrol Energy SA, on June 29, it acquired 10% stake in lot 39 in northern Peru from Burlington Resources Inc, .