Tata Teleservices to receive $2 billion in investment
New Delhi: The Tata Group has earmarked investments of Rs 9,000 crore to be made over the next two years in Tata Teleservices. The new investment would be made essentially to expand the existing CDMA network.

Tata Teleservices currently operates in Andhra Pradesh, Delhi, Gujarat, Karnataka, Tamil Nadu and Maharashtra. It has also got licences to operate in Kerala, Punjab, Haryana, UP (West), UP (East), Rajasthan, Madhya Pradesh, West Bengal, Himachal Pradesh, Bihar and Orissa.
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REL lays out Rs. 20,000 Crore for energy
Mumbai: Reliance Energy Ltd. has outlined an investment plan of Rs 20,000 crore during 2004-09. While it will lay out Rs 10,000 crore on its 3,500-mw Dadri project, Rs 6,000 crore will go towards distribution and Rs 4,000 crore on transmission.

According to REL chairman and managing director, Anil Ambani, apart from the Dadri project in Uttar Pradesh REL would also like to invest in the Dabhol project as well as some hydro-electric projects proposed by Uttaranchal and Himachal Pradesh governments
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L&T eyeing acquisition in US
New Delhi: According to the Chairman and Managing Director of Larsen & Toubro (L&T), A.M. Naik, the company is looking at the US for acquisition, in the areas of technology and engineering.

According to the company, their export order book has grown from Rs 500 crore to Rs 2,500 crore over the last four years, and further they have also started exporting tractors to the US markets, which had very demanding standards.

L&T is a well diversified, major private sector engineering company and has executed several engineering projects overseas.
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Assembly line for M&M in Indonesia
New Delhi: Mahindra and Mahindra (M&M) is considering setting up an assembly line for its utility vehicles in Indonesia. According to Anand Mahindra, vice-chairman and managing director, M&M.

Indonesia is a key market for M&M in East Asia, and has a particularly high density of LCV usage nationally.

The company has embarked on ambitious forays abroad particularly after the spectacular success of its Scorpio series of SUVs. Their earlier LCV models, notably the Bolero, have all undergone upgrades, and are headed for markets abroad, most recently in Italy.
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Hind Motors launch Avigo
Kolkata: Hindustan Motors Ltd. (HM) will roll out a light commercial vehicle (LCV) a six-tonner, within the next six months. In the meanwhile, HM has unveiled its latest offering, an Ambassador variant christened Avigo.

The new model will be available in two versions - a 1.8 litre Isuzu petrol engine and a two-litre diesel engine. The company also launched two multi-utility vehicles, the Porter Plus and the Hardtop Trekker.
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Reliance stake in BSES to go up to 53 per cent
Mumbai: The board of BSES Ltd. has approved a preferential offer of equity shares and or equity related securities to the Reliance Group and major institutional shareholders. The preferential offer will be made at Rs 640 per share. The pricing for the preferential offer represents a 38 per cent premium to the 26-week average price, as per the take-over guidelines chalked out by the Securities and Exchange Board of India.

The Reliance Group will subscribe to over two crore equity shares of the company aggregating Rs 1,400 crore. Institutional shareholders such as LIC and GIC have agreed to subscribe to up to nearly one crore shares, aggregating over Rs 600 crore, he said. The preferential offer would result in the Reliance Group's shareholding in Reliance Energy increasing to about 53 per cent.

Further, the BSES board also approved the issuance of an additional amount of Rs 1,000 crore through equity shares and/or equity shares with differential voting rights and/or an international convertible bond offering. Janus Capital and the government of Singapore have also picked up a 12 per cent stake in the company.
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MetricStream to double India staff
Bangalore: MetricStream, the US-based quality and compliance management solutions provider, plans to more than double its headcount in India from the present 40 to over 100 over the next 12 months. At present, a large portion of MetricStream's product development is done from its Bangalore centre.
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