Bharat Heavy Electricals Ltd (BHEL), Country's largest power equipment maker, has received a contract worth Rs 2,500 crore from Andhra Pradesh Power Development Company Limited, for supplying 800 MW supercritical boilers.

Under the deal, BHEL would set up 1,600 MW (2x800) steam generator at Krishnapatnam Power Project of Andhra Pradesh Power Development Company Ltd, a joint venture of APGenco and ILFS.

The contract includes manufacture, supply, erection, testing and commissioning of the steam generators and other aux iliaries like Electrostatic Precipitators (ESPs).

Suzlon Energy, Asia's largest wind turbine manufacturer, reveals its plans to raise up to Rs 5,000 crore through issue of securities in the international and domestic market.  
 
Earlier in May, the shareholders at their annual general meeting had approved the raising of Rs 5,000 crore through issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts or other securities.

Of this, the company has raised about Rs 2,183 crore by issuing over 1.13 crore shares of Rs 10 each at a premium of Rs 1,907 a piece to the Qualified Institutional Buyers.

Polaris Software Lab Ltd has signed up a professional services contract with AIG Global Services to offer up software services to American International Group and all its partners throughout the world.

R. Srikanth, Polaris Executive Vice President and CFO, stated, “Since we will be providing IT services to AIG, the parent company and all its affiliated companies around the globe, it is a significant transaction for Polaris.”

Mr. Srikanth did not reveal the size of the contract nor the anticipated revenue from the deal.

Almost six companies had shown interest in the revitalization process of Indian defence and aerospace industry. India is planning to restructure overall infrastructure of defence sector with the help of foreign companies. Major US companies such as giants Lockheed Martin and Boeing and European consortium EADS has also shown their keenness in the USD 2-3 billion project.

Six leading military jets manufacturing firms forwarded their proposals to the defence department of India. India also wants to buy 126 Medium Multi Role Combat Aircraft (MMRCA). French fighter maker D'assault, Russian MiG-Mapo Corporation and the Swedish company SAAB is also interested to secure this high volume project.

Frankfurt - Shares in Adidas AG rallied Tuesday after the German sporting goods-to-fashion group reported a 12-per-cent rise in second-quarter net profit after the European football championships and the Beijing Olympics boosted sales.

The world's second biggest sports equipment maker said net earnings in the latest quarter rose to 116 million euros (180.2 million dollars) compared to 104 million euros a year earlier.

Tokyo - Toyota Motor Corp was