Religare Enterprises Limited (REL), a diversified financial services group of India, has notified that its venture capital arm has entered into a 50:50 JV with private equity firm Milestone Capital, for managing a Rs 600-crore healthcare and education fund 'India Build-Out Fund I'.

Under the tie-up, Religare along with its affiliates has committed to contribute Rs 60 crore in a new investment management company, which has an existing corpus of more than Rs 100 Crores.

O P Jindal Group, Jindal Stainless Limited (JSL), the India's largest and only integrated Stainless Steel manufacturer, has plans to raise Rs 500 crore through various possible routes to fund its upcoming Rs 5,700-crore stainless steel project in Orissa.

The board of directors of the company stated in a communiqué on Monday that it's considering issuance of securities on rights basis to raise funds.

The move has been planned due to shortfall in the liquidity, which further compelled the company to raise more funds for the Orissa plant.

Rashtriya Chemicals and Fertilizers Limited (RCF) has informed that the company has undertaken a project to manufacture Wall panels, putty and other related products by using Gypsum.

The company officials said in a communiqué that the project is in final stage of completion and the plant is likely to start production by end of April, 2009.

In addition, the company to market these products has signed an agreement with Future Products Pvt. Ltd, to set up a Private Limited., Company (JVC).

Omnitech InfoSolutions Ltd, a provider of technology related services in the areas of business availability and business continuity, has signed a multi-year contract with two overseas companies to offer Remote Infrastructure management services and Virtual CIO offerings respectively.

According to official release, the consolidated and accumulative deal size would be at Rs 25 crore.

The company has signed the first contract with a European firm - IT Factory to remotely support IT Factory's management functions and IT maintenance.

Aurobindo Pharma, one of the largest API manufacturers in Asia, on Wednesday received its first approval from Swissmedic, Government of Switzerland for the license of Finasteride APL Tablets 5mg.

The drug is generic equivalent of MERCK & CO., Inc's Proscar Tablet.

Finasteride APL Tablet 5mg is used alone or in combination with another medication to treat benign prostatic hypertrophy (BPH, enlargement of the prostate gland). The drug is seen very effective in symptoms of BPH such as frequent and difficult urination. In addition, it also may decrease the chance of needing prostate surgery.

Hindustan Dorr Oliver Ltd, a leading total engineering solution provider company, has bagged two prestigious Orders in Mineral Sector worth Rs 66 crore from Vedanta Group.

The company secured first order worth Rs 48.5 crore from Vedanta Group for their 12.5 LTPA Aluminium Smelter Expansion Project at Jharsuguda.