The Tulsi Tanti-controlled wind turbine maker Suzlon Energy and China based Inner Mongolia North Longyuan Wind Power Corporation have formed a joint venture on Tuesday. The JV aims to supply wind turbines of 100 megawatt for a World Bank funded project in China. The company recently bagged order for 80 turbines from Inner Mongolia North Longyuan Wind Power Corporation.

The JV, signed by Chinese Subsidiary of Suzlon Energy, Suzlon Energy Tianjin, would ensure delivery of 80 units of Suzlon's 1.25 megawatt turbines in two lots in the financial years 2010 and 2011.

IT giant HCL Technologies has managed to bag an order worth Rs 393 crore from National Insurance Company (NIC) to provide information technology related services and operation management modules, necessary to equip NIC with cutting edge technology.

The company, for the project worth Rs 393-crore, is entitled to provide IT services and modernization of business process for a period of seven years to NIC.

Ankara - Turkish Airlines Tuesday announced that it was prepared to immediately pay compensation to the families of those killed and all surviving passengers on board flight TK 1951 which crashed while approaching Amsterdam's Schiphol Airport last week.

HDFC Standard Life has decided to roll out health savings plan next fiscal.

From health insurance sector, the private life insurer targets a premium income of Rs 50 crore by the end of next fiscal.

Moreover, the company is eyeing a premium income of Rs 20 crore during the existing fiscal.

SPML Technologies, a group company of Subhash Projects & Marketing Ltd (SPML), on Monday announced the completion of first phase of its automated anytime payment (ATP) kiosks in the state. Through this facility, the electricity consumers will now be able to pay their electricity bills anytime with multiple payment options such as cash, cheque, demand draft and credit or debit card. The company is providing this service under build-own-operate-maintain (BOOM) model.

After merger, every 16 shares in RPL will convert to one in RIL

The Reliance Industries Ltd (RIL)-Reliance Petroleum Limited (RPL) merger is seen by Dalal Street as mostly win-win for all stakeholders.

Though both stocks ended the day down, experts see the deal as beneficial for the companies' shareholders in the near term.

Early on Monday, the RIL board approved a swap ratio of 16:1 for the merger. This means, after approval of the amalgamation by the court, every 16 shares in RPL will get converted into one RIL share.