Lumax Industries,

Taurus Mut

Videocon Industries announced that its wholly-owned arm Videocon Energy Ventures will get hold of a 10% participating interest in the exploration and production concession of Anadarko Mozambique Area (Anadarko), a Mozambique-based indirect arm of Anadarko Petroleum Corporation, US.

Videocon Retail, a part of the Videocon Industries, is all set to invest Rs 8 billion for strengthening its electronic retail format Next Retail and mobiles, music, entertainment and lifestyle chain Planet M by 2011.

Moreover, Videocon is in talks with Japanese majors Mitsui and Hitachi in order to establish a logistics company in a JV for supporting its retail operations.

Tokyo - Japan's Mitsubishi Electric plans to triple its production capacity for high-efficiency solar cells by 2012, investing over 10 billion yen (91 million dollars), the economic daily Nikkei reported Wednesday.

The electronics company was responding to growing demand for renewable energy, triggered by high oil prices and concern over global warming.

Infosys Technologies is all set to acquire UK based consultancy Axon Group. The company has to pay a huge amount of £407.1m ($755.5m) for this acquisition. The shareholders and board have already supported the deal. The acquisition would be the largest ever by any information technology company in India.