Mukesh Ambanii’s Reliance Industries Limited (RIL), has turned into the first company to achieve a market capitalisation (cap) of Rs 3 trillion after the company’s shares soared up 5.6% on yesterday (September 19).

RIL’s scrip ascended to touch a record high of Rs 2,185, and closed the day after making a profit of Rs 114.50 at Rs 2,172.90 recording a market cap at about Rs 3,028 billion at the end of the trading session.

At the company’s 23rd Annual General Meeting (AGM) held on Aug. 25, the members of India Glycols have sanctioned the announcement of dividend at 30%, or Rs 3 per share of the value of Rs 10 each.

Leading hospitality company Hotel Leela Venture is all set to invest around Rs 22 billion in the next three years (2010) to set up five new hotels and a service apartment in Gurgaon near Delhi.

The new hotels will be established in Pune, Hyderabad, Chennai, Delhi and Udaipur.

The company has already expended Rs 11 billion on 86 service apartments that it is projecting to built up in Gurgaon.

Manama: American Express Middle East has entered into a partnership deal with TradeArabia.com turning them the ‘Official Payment Card’ of the portal.

New Delhi: BHEL is in quest of mergers and acquisition (M&A) in order to encourage inorganic expansion and targets earning of Rs 45,000 crore by the next five years (2012).

At the shareholders conference, A K Puri, BHEL Chairman and Managing Director said, the company has drawn what it names “Strategic Plan 2012” to make sure sustainable profitable development over the next five years with the aim of achieving an earning level of Rs 45,000 crore.