ABG Shipyard, the largest private yard in India, has secured an order worth Rs 2,377.41 crore (480 million US dollar) from Essar Oilfields Services Ltd, Mauritius for building two rigs.

These Rigs will have the operating capacity of up to 350 ft. Water Depth and a drilling depth capacity of 30,000 ft. In addition, these rigs are designed for year - round Gulf of Mexico and 50-year return period North Sea environment in accordance with American Bureau of Shipping (ABS) assessment criteria.

Chennai based Midvalley Entertainment, has filed a draft red herring prospectus (DRHP) with SEBI, to enter into the capital market with a public issue of 1.71 crore equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue also comprises a reservation of 3 lakh equity shares for permanent employees, thus bringing the net issue to 1.68 crore equity shares of Rs 10 each. The net issue will constitute 39.30% of the fully diluted post issue paid-up capital of the company.

Microsoft-owned digital marketing firm Razorfish has informed that it has acquired Wysiwyg, one of Spain's largest digital advertising agencies.

The purchase of Wysiwyg (which stands for "what you see is what you get") is part of Razorfish's larger goal to generate a third of its sales outside the U. S. by the end of 2009. The Madrid-based Wysiwyg offers digital services across a range of platforms, including video and mobile.

Allahabad Bank, one of the oldest banks in India, has announced a Festival Bonanza for its customers in various buckets of Term Deposits.

The lender stated in a official release that the rate of interest on Term Deposits for Senior Citizens will be 11% per annum for a period of one year up to three years, however for others, it will be 10.50% per annum.

Delhi-based realty firm Unitech Ltd has registered net profit of Rs 415.56 crore for the second quarter ended September 30, 2008 as compared with Rs 138.09 crore reported during the same quarter in 2007.

The total income for the quarter has also surged to Rs 906.33 crore from Rs 572.60 crore in the year-ago period. However, company's consolidated net profit declined by 12.48 per cent to Rs 358.92 crore for the July-September quarter.

The company had a net profit of Rs 410.12 crore in the same quarter last fiscal. Recently,

Zee News, a part of the Essel Group has informed that the company has signed a strategic partnership agreement with Sky B (Bangla) Pvt. Ltd.

 Under the deal, Zee News Ltd will handle marketing, advertising, sales and programming initiatives of Sky B's Akaash Bangla, the 24-hour regional infotainment channel in Bengali, against an agreed fee structure.

Bengali news channel 24 Ghanta is owned by Zee Akaash News Pvt. Ltd, which is a 60:40 joint venture between Zee News Ltd and Sky B Pvt. Ltd.