BEL in talks with BHEL to form JV in Solar Energy Sector

Submitted by Narendra Jakhad on Wed, 09/03/2008 - 18:05

PSU Bharat Electronics Limited (BEL) and Bharat Heavy Electricals Limited (BHEL), well-known power equipment major, are presently in the process of finalizing a joint venture to tap the huge potential in the solar energy sector.

According to sources, both the PSUs have in principle agreed to form an equal partnership joint venture to set up a polycrystalline silicon manufacturing unit in Bangalore. Both partners plan to invest Rs 1000 crore.

Polycrystalline silicon is the raw material for manufacturing solar panels.

Bharat Electronics Limited plans to produce 2,500 tonnes per year of polycrystalline silicon at the plant. BEL has been exporting solar products to various countries in Africa and Latin America for the last 4-5 years.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

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