Bharat Heavy gets $510 mln contract

MUMBAI, July 11 – India’s Bharat Heavy Electricals Ltd said on Friday it had been awarded a contract worth 21.75 billion rupees to set up a 600 megawatt thermal power plant in the southern state of Tamil Nadu.

Source Reuters

Renault sets up logistics unit in India

MUMBAI, July 11 Renault has set up a logistics facility in India which it said will be a part of its global supply network and should contribute about 200 million euros worth of component exports by end-2009.

The French vehicle maker, which has a joint venture with India’s Mahindra & Mahindra Ltd for the Logan sedan, is also developing a low-cost car with Nissan Motor Co and Indian motorbike maker Bajaj Auto Ltd .

HCL Technologies wins 3-year contract from Bergstrom

MUMBAI (Thomson Financial) – India’s HCL Technologies Ltd. said it has won a three-year, multi-location contract from Bergstrom Inc.

Under the terms of the contract, HCL will provide engineering change management, value engineering, next-generation product design and computer-aided engineering analysis for Bergstrom’s heating, ventilation and air conditioning products.

Source CNBC

Vodafone faces 2 billion pound tax bill in India court case

LONDON (Thomson Financial) – Vodafone Group will face a tax bill of more than 2 billion pounds – double the amount previously expected – if it loses a court battle with the Indian government, the Financial Times reported. The Indian government is seeking to tax Vodafone’s $11 billion acquisition last year of a controlling stake in Hutchison Essar, the country’s fourth-largest wireless operator.

Sony Ericsson in talks with India Spice Mobile

MUMBAI, July 11 (Reuters) – Mobile phone maker Sony Ericsson is in talks to acquire India’s Spice Mobile the Economic Times said on Friday, citing sources close to the development. Sony Ericsson is owned by Ericsson and Sony Corp. Spice’s founding BK Modi Group, which owns 64 percent in handset maker Spice Mobile, had asked for 80-100 rupees per share, the newspaper said, which would value the company at up to $174 million.

Umicore to build automotive catalyst production facility in India

BRUSSELS (Thomson Financial) – Specialty materials group Umicore SA. said it is to build an automotive catalyst production facility in India.

The site will have a production capacity to equip approximately 1.5 million cars a year, the group said. Construction will be completed by 2010 and production will begin soon after.

Infosys 1st-quarter profit rises 16 percent

NEW YORK – Information technology provider Infosys Technologies said Friday its fiscal first-quarter profit rose 16 percent as its customer base grew.

Net income for the quarter ended June 30 rose to $306 million, or 54 cents per share, from $263 million, or 46 cents per share, during the corresponding quarter last year.