GMR Infrastructure Ltd announced on Wednesday that its unit GMR Energy, through its subsidiaries, has bought Indonesia's PT Barasentosa Lestari.

In a disclosure to the Bombay Stock Exchange, the group said that said it has acquired 100 per cent stake in Indonesia-based PT Barasentosa Lestari through its wholly-owned subsidiary, GMR Energy, for an undisclosed amount.

It further added that the Indonesian firm holds a license providing a 30-year mining authorization over two coal blocks in the country.

JSW Energy, the power arm of the Sajjan Jindal-controlled JSW Group, is targeting a transmission lines network of over 1,000 circuit km (ckm) in the next three years.

S S Rao, chief executive officer, JSW Energy, said the company is betting big on its transmission lines business. "We will be spending close to Rs 2,000 crore in the next three years," he said. Rao said in the next few years, the company will bid for all major tenders for 400 kV and 765 kV transmission lines to achieve this target.

Jaigad PowerTransco Ltd (JPTL), a joint venture between JSW Energy and Maharashtra's transmission company MahaTransco, was recently awarded a licence for 400 kV transmission systems in the state.

Mahyco expects to get the nod soon to commercially market Bt brinjal

Manufacturer of genetically modified seeds, Maharashtra Hybrid Seeds Company Ltd (Mahyco) is expecting to receive approval for commercially marketing Bt brinjal seeds soon. Before the Genetic Engineering Approval Committee (GEAC) formally approves Bt brinjal in india, Mahyco launched an awareness programme in Ahmedabad on Wednesday.

Unveils Xenon XT

In the last 14 months, Tata Motors and Fiat together have launched five products — Indigo CS, Sumo Grande, Palio Diesel, Indica Vista and Linea.

On Wednesday, the duo unveiled Xenon XT (cross terrain), a lifestyle four-door, 5-seater pickup.

For FY10, Tata and Fiat together have slated five more launches — Nano, Grande Punto, another vehicle which will be a cross between an SUV and MPV, a new Indigo and a yet-to-be-named Fiat car.

The idea behind these launches is to create a strong portfolio and spur an excitement in the market to stimulate demand.

Budapest - The US-based circuit board manufacturer Jabil Circuit is to lay off 900 workers at its plant in Hungary, the firm revealed on Wednesday.

Jabil, which currently employs some 4,000 in Hungary, told the local news agency MTI that its decision was due to falling orders.

The news came the day after Hungary's official economic statistics office forecast that 105,000 jobs would be lost this year.

Of these, 12,000 will be in the automotive sector and 10,000 in construction. Anna Adamecz, a department head at Ecostat, said that 60 per cent of redundancies will be due to falling demand in export markets.

With the aim to prevent inventory build-up in the midst of ongoing slowdown in the domestic market, Honda, the Japanese car major would continue to cut its India output by over 45 per cent for the next six months.

It was confirmed by the company that its planned release of hatchback Jazz in the Indian market is on schedule. The company is also thinking to increase the prices of its various models.