Indian tyre manufacturer Apollo Tyres, has announced an investment of Rs 3,000 crores in the next five years to establish greenfield plants in India as well as abroad, along with expansion of existing production units.

The company, by doing so, is targeting to join the league of top six tyre makers internationally. Apollo is aiming at a $4 Billion turnover in the next five years, by setting up units in Chennai and East Europe.

In "a very sharp review" of its investment plans over the last 60 days, UTV Software Communications Ltd has taken steps to cut costs in its broadcasting division.

The company said in a statement on Monday that by phasing out its Delhi operations, it has consolidated its operations for four television channels - Bindass, Bindass Movies, UTV Movies and World Movies - from the Mumbai office only.

informed the Bombay Stock Exchange (BSE) that it has bagged three orders worth Rs 937 crore in water business, during September and October 2008 in Delhi and Andhra Pradesh.

This order is in addition to the EPC project worth Rs 582 crore that the engineering major secured from the Hyderabad Metro Water Supply and Sewerage Board; and two EPC projects worth Rs 355 crore from the Delhi Jal Board.

Building up the first serious challenge to Sun TV's dominance in the southern cable television market, News Corp's Star India Pvt. Ltd and Bangalore-based entrepreneur Rajeev Chandrasekhar announced a joint venture (JV) on Friday, for enhancing viewing experience of audience in South India.

Though the terms of the deal were not disclosed, Star will hold a majority stake in the JV - named 'Star Jupiter Entertainment Television Ltd' - which will also pick up a majority stake in Chandrasekhar's Asianet Communications Ltd which currently broadcasts general entertainment channels (GECs) in Kannada, Telugu and Malayalam. Star's existing channel in Tamil Nadu - Vijay TV - will now be part of the new JV.

Leading railways equipment manufacturer, Bombardier Transportation, has decided to increase its presence in India. It would develop India as a metro car production hub for the Southeast Asian region, in the next 4-5 years. 

The company launched a new railway vehicle-making facility at Savli, Vadodara in Gujarat. It would produce stainless steel car bodies and bogies and carry out final assembly at Savli plant. It would start operation very soon, after orders of Delhi Metro Rail Corporation (DMRC).

SKF India, the largest supplier of automotive bearings, has announced the postponement of its new manufacturing facility at Haridwar, which was to be set up at a cost of Rs 150 crore. 

Rakesh Makhija, Managing Director, SKF India stated “We have decided to postpone work at the Haridwar plant due to a slowdown in market demand. However, there is not much impact on the demand for industrial products and our Rs 300-crore investment in the other plant at Ahmedabad, which will make equipment for the industrial sector, is on track. The plant will be operational next year.”