Moser Baer India Ltd said that its wholly-owned photovoltaic subsidiary has raised Rs 411 crore. The group of companies such as Nomura, CDC Group, Credit Suisse, Morgan Stanley, IDFC PE and IDFC are acquiring a 6.5% stake in the company to collect funds for Moser Baer.

The largest utility company of India, Tata Power has bought 11.4% equity stake in Australian firm, Geodynamics. Tata Power is a biggest private company which generates a huge amount of electricity, while Geodynamics is a geothermal energy company.

Geothermal power is generated from the heat stored below the surface of earth. Tata Power’s investment in Geodynamics amounted to A$44.1 million (about Rs165 crores).

Wipro chairman Azim Premji has invested about Rs 2.30 billion in order
to acquire a 10% equity stake in discount retail chain Subhiksha
Trading Services.

The recent deal was done through Premji’s personal investment company, Zash Investments Ltd.

The stake has been acquired from ICICI Ventures, a private equity arm of ICICI Bank, at a huge premium.

After this transaction, Subhikha’s promoters will hold 59% stake in
Chennai-based retailer, accompanied by ICICI Ventures’, which have 23%a
and Mutual funds control 5%.

General Motors would launch new models of mini compact global car in 2010. These models are being developed at company’s Bangalore plant in India and other global plants in the world.

The company has also decided to launch its first electric car in India. It will expand its car business with the additional investment of US $ 500 million in next seven years. The US based company has already invested about US $ 1 billion in India.

GM has decided to develop small diesel engines in its new power plant in India with an investment of $200-million.

The leading automobile manufacturer Mahindra & Mahindra is planning to develop its two wheeler business. The company will expand the business with the help of global alliances and acquisitions with suitable companies.

The company had already acquired Kinetic Motors in last month.

India’s top car manufacturer Maruti Suzuki India Ltd is all set to unveil its ‘A-star’ model in the local market by the next month (October 2008).

A senior company official said that the company will begin exports by December 2008.

It is also learnt that initially, the car will be exported to the European markets.

Maruti Suzuki India Ltd has also decided to increase local research and development (R&D) for small cars to 90%.