The largest cement maker of India, ACC would not go for its expansion plans of ready-mix concrete (RMC) business following low demand due to global slow down. Earlier, ACC planned to spend Rs 600-crore for RMC used by developers in residential projects.

Cairn India has discovered an oil and gas in Western India. It is good news for India as the country still depends on oil import to satisfy its domestic and industrial needs. It pays huge sum as crude import bill from its state exchequer.

The newly discovered area is located approximately 1.5 km east of the Raageshwari 1 well which is a commercial and approved field development plan. The Mangala, Aishwariya Raageshwari and Saraswati development area, nearby the discovered field, are already producing oil.

The US government has started to put pressure on India's largest private sector firm Reliance Industries (RIL) to stop sale of gasoline to Iran. A group of American Congressmen expressed reservations on the decision of Export-Import Bank of the US to provide financial assistance to RIL as it has business ties with Iran.

The congressmen criticized the Mukesh Ambani-led RIL for supplying refined petroleum products for Iran as the country is going ahead with its nuclear program.

Tata Motors Ltd would inject "tens of millions" of pounds into Jaguar Land Rover according to reports. The move is aimed to mitigate the impact of global slowdown. Tata bought the luxury carmaker JLR earlier this year for $2.3 billion from Ford Motor Co.

Almost entire Automobile sector is facing low demand problem leading to employ cost cutting measures including significant production cut and retrenchments. Tata's move to inject money in Jaguar Land Rover would prevent an immediate cash flow crisis being faced by company following economic slowdown.

Ranbaxy Laboratories and its new owner Japan’s Daiichi Sankyo, which now holds 63.92% of Ranbaxy’s equity share capital, reconstituted a new 10-member panel.

From the company’s earlier 15 member panel, the company retained only three members including former owner Malvinder Singh, COO Atul Sobti and Religare CEO & MD Sunil Godhwani.

The newly announced board reflects the changed ownership structure at Ranbaxy, following Daiichi Sankyo’s strategic investment during the last month (Nov 2008).

The Chandigarh-based Compact Disc India (CDI), an integrated media and entertainment company, said it will invest $63 million (Rs 309 crore) for animation feature film and multi platform gaming.

The board of directors has approved the budget of $63 million.