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Continuing its positive trend witnessed last week after the International Monetary Fund forecasted that the country's economy might see an expansion better than 2007, Indian stock market remained buoyant on Monday.

BSE Sensex rose 103.66 points during the day's trade to close at 17,937.20. The Bombay Stock Exchange benchmark index even crossed the 18,000 mark at some point of time during the day before cooling down on profit bookings.

Heavy electrical equipment manufacturer, BGR Energy Systems is set to hit the streets to dilute its promoters holding and there by raise nearly Rs.350 crore.

Sources close to development said that the move aimed at supporting the company's capital expenditure would also bring down promoters' stake to 75% as required by the new official guidelines issued by the market regulator, Securities and Exchange Board of India.

The company is planning to dilute around five to six per cent stake and it has already began its road shows to highlight the upcoming public offer.

After posting a long string of good years, the telecom industry finally slowed down and grew by just 2.5 per cent in 2009-10. In revenue terms, the total collection during this period was Rs.1, 59,510 crore.

And the reason for this short fall is the rising competition and domestic tariff war, said a survey by the telecom industry that appeared in journal Voice & Data.

Considering the fact that the industry grew by 20 per cent in 2008-09, this is a very sharp decline.

Tata Teleservices (TTSL) said on Monday that it is terminating its membership with COAI, a powerful lobby of GSM players in India.

It called COAI a sham and said that the functioning of the body was totally undemocratic, biased, non-transparent and unethical.' Tata was amongst the core team of COAI.

In a letter sent to the Director General of COAI, Rajan Mathews, TTSL said that since it found that the functioning of COAI was not transparent and since it was just a representative body of only a few members, TTSL has decided that it will move out of it.

On Monday, Bhilwara Energy (BEL), a group firm of the LNJ Bhilwara Group said that it is going to sell per cent of its stake in the company to two foreign investors. Out of the dilution it expects to raise Rs.230 crore which will then be used to finance its power projects.

Out of the per cent, 10.8 per cent will be sold off to Washington-based IFC and the rest will be given to India Clean Energy Fund. Sources say that both of the companies will be paying $50 million each.

Following private companies like Tata and other, state-owned power company, NTPC has also decided to move its shop from state of UP and setting it up in MP.

The project is for building up of a plant with a capacity of producing 4,000-MW.

And the reason cited by the company is that there are growing conflicts between the state government of UP and itself which has led to this stage. It has now shifted the plant to Barethi in Madhya Pradesh.