Solar Semiconductor , a rapidly growing producer of high-quality photovoltaic (PV) modules, has announced its merger with US based Trans-India Acquisition Corporation. 

According to an official release, Trans-India has entered into a definitive agreement to acquire not less than 80% shares in the privately held Solar Semiconductor Ltd.

The proposed acquisition is valued at $375 million, which would be formalized once the US Securities and Exchange Commission (SEC) formally approves the amalgamation. 

Industrial gas maker BOC India Limited has informed that it would invest around Rs 200 to Rs 250 crore on several ongoing projects in India by the end of the first quarter of the next financial year. 

The company has a cash reserve of around Rs 200 to Rs 250 crore, which is the part of the Rs 600 crore investments committed by parent company Linde Group to India early this year.

Apart from routine investments in ongoing projects, the company was scouting for buyout opportunities in the country.

The National Democratic Alliance, the CPI (M) and the BSP staged a walkout from Parliament due to the declaration by the Union Minister for Petroleum and Natural Gas, Murli Deora that the government shall take a week before deciding the future of fuel prices.

The Minister also stated that keeping in mind the depreciation of the rupee, an appropriate decision shall be taken.

Vienna - Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) set to meet Friday in Vienna were expected to cut oil production in reaction to falling prices and slowing demand.

Several of the cartel's 13 members had indicated before the meeting that they were in favour of lowering the group's joint output by at least 1 million barrels per day. One barrel equals 159 litres.

Since mid-October, the basket price of OPEC crude has hovered below 70 dollars per barrel, down from its July high of 140.73 dollars.