State-owned oil refiner, Indian Oil Corporation (IOC) would invest around Rs 6,500 crore in order to raise its pipeline network to more than 13,000-KM by March 2012.

Moreover, the company has also decided to finish up its primary gas pipeline by the end of existing year (Dec 2008). 

Mr. P.K. Chakraborti, Director-Pipelines, stated that the whole pipeline project will be funded through a debt-equity ratio of 1:1. 

“The money will come either from our borrowings or the money from the oil bonds,” Mr. P.K. Chakraborti said. 

HCL Technologies intends to complete $2 billion buyouts before 2011. The company is eager to enter in the Europe and Japanese markets. The CEO of HCL, Vineet Nayar said that the company would expand its global presence in the coming years. 

He said the company believes in transformational acquisitions besides Intellectual Property (IP) acquisition and geographical acquisition. The company would mainly focus on engineering services, enterprise application services, the newly-launched enterprise transformation services and infrastructure services sectors 

Ranbaxy would hire the services of Giuliani Partners to deal with the situation arising, after the banning of some of its products in the US market. It is recalled that the US Food and Drug Administration is not satisfied with the product quality of many of its drugs. It has, earlier banned 31 drugs in the US market. The Indian drug maker Ranbaxy is a major supplier of drugs to the US market. 

Oil and Natural Gas Corp (ONGC) would invest Rs 19,338 crore in oil and gas exploration in the existing fiscal (2008-09), which is around 10% more than its investment of Rs 17,651 crore during the previous year. 

Mr. R S Sharma, ONGC Chairman, said, “Improving the reserve replacement ratio by intensifying exploratory efforts is company's first priority.” 

“Improving recovery factor, arresting decline in mature fields and expeditious development of discovered fields are the other priorities,” Mr. Sharma said. 

Tata Consultancy Services (TCS) would deliver application, maintenance and development services for IT operations of Ericsson, the largest telecom product supplier of the world. TCS has signed a five year pact with Ericsson on Wednesday. . 

Patel Engineering has received an order valued at Rs 6.96 billion from Andhra Pradesh State Government for up gradation of Krishna Delta System.

The scope of order includes massive modernization plan of the major river delta systems to enhance irrigation prospective along different canals, channels and their distributaries on EPC Turn Key Basis. 

The project is likely to be finished in next 36 months.

Moreover, the company is close to purchasing a mid-sized coal mine in Indonesia for about Rs 1 billion.