Powersoft Global Solutions has announced that the conglomerate has pumped Rs 26 million in its wholly owned arm RFID Global Solutions (P) formerly Concentric RF Systems (P) by subscribing towards 2.6 million equity shares of the face value of Rs 10 each at par.

According to the sources, the company offers business technology software, geographic information systems (GIS) and engineering solutions.

Mumbai headquartered Glenmark pharmaceuticals has annpunced that the US affiliate of the company Glenmark Generics has got final sanction from US Food and Drug Administration (USFDA) to sell Ranitidine Hydrochloride on prescription basis.

The approval has been granted for 150 mg and 300 mg dosage of the drug.

According to the sources, Ranitidine is indicated for prevention and developing of ulcer in the stomach. The drug also reduces stomach pain, diarrhea, and loss of appetite that ulcers can cause.

Wipro Technologies, India's second largest software exporter has announced that it has clinched a pact with Axway with the aim to provide business-to-business (B2B) integration and electronic data interchange (EDI) managed services using a software-as-a-Service (SaaS) model.

B2B refers to electronic transactions between and among companies and their employees and suppliers. It entails the transaction of goods or services between businesses as opposed to between a business and a consumer.

Axway is a worldwide software conglomerate offering collaborative business solutions.

Welspun-Gujarat Stahl wins order worth Rs 5 billion

Welspun Gujarat Stahl Rohren Ltd (WGSRL), the world's second major line pipe conglomerate, has announced that it has won Rs 5 billion contracts from India and abroad.

According to the sources, the proposed orders will not only strengthen company's position as a sustainable organization with the ability to meet requirements for the toughest of projects, but it will also reaffirm its position as one of the leading Line Pipe making Companies in the World.

Welspun Gujarat Stahl Rohren Ltd, is a flagship conglomerate of Welspun Group

Packaging major Ess Dee Aluminium Ltd has announced that it purchased a majority stake in the ailing India Foils Ltd, a Vedanta Group firm.

Ess Dee further revealed that it has pumped about 1.2 billion rupees in India Foils and will take over 85-90 % in the firm.

The Godrej Group has announced that it is eyeing for acquisitions in emerging markets as it is bullish on its growth strategy among the economic slump.

According to the sources, the conglomerate plans to acquire established brands of consumer products.

According to the company officials, Godrej' business-to-business (B2B) activities and real estate businesses were expected to be affected as an affect of slowdown on the company.

The company further revealed that the government should help affordable housing projects by offering fiscal incentives.

Aksh Optifibre, the Internet Protocol Television (IPTV) associate for MTNL and BSNL, has announced that it is proposing to set up its presence in Rajasthan.

According to the sources, the conglomerate is building Rs 300 million network operating centre in Jaipur to provide its services to cities across the state.

The company revealed that they have around 3,000 bookings for IPTV in Rajasthan and with three more cities on board.

The company is hoping 70,000 IPTV clientele across the country by the end of current fiscal.

Maruti Suzuki, India's major car manufacturer has announced the introduction of its compact B-segment car christened 'A-Star', which is priced between Rs 3.46 lakh to Rs
4.11 lakh ex-showroom in Delhi for different models.

Powered by an innovative, high-tech, light weight, 998cc k10b petrol engine, this mid-priced segment car is touted to give a mileage of 19 kilometres per litre.

China has announced that it intends to set up giant USD 2.9 billion oil and gas pipeline across Myanmar.

According the sources, the work on the new pipeline connecting Myanmar with its Yunnan province would commence early next fiscal.

This project (joint venture between China and Myanmar) was being undertaken to trim down Beijing`s over-dependence on energy transportation from the Gulf through the straits of Malacca.

India's major miner, state-run National Mineral Development Corporation (NMDC), has announced that it has clinched a memorandum of understanding (MoU) with West Bengal Mineral Development and Trading Corporation (WBMDTC).

According to the sources, the pact is inked to explore, develop and mine coal at Deocha-Pachami block in Birbhum district, which has a reserve of two billion ton.

The sources further revealed that NMDC will pump about Rs 10 billion for the project. It will be a 50:50 joint venture (JV) with WBMDTC.