Tata Motors is aiming to make a car,Tata Megapixel that can deliver up to 100 km from a litre of fuel by using a unique combination of technology.(ET)

The joint venture between Reliance Industries (RIL) and private fund DE Shaw is likely to go for a midcourse correction,less than a year after both the companies announced their JV. (ET)

Federal Bank has classified its.0.9bn exposure to debt-ridden Kingfisher Airlines as non-performing loan.(ET)

Small Industries Development Bank of India,which has sanctioned Rs.1bn term loan to SKS Microfinance,has put a condition that the troubled MFI will have to use the resource for on-lending to the poor outside Andhra Pradesh,and especially in states which are under-served in terms of microfinance penetration.(ET)

L&T Infotech, is exploring options of buying out Hexaware.(BS)

Hotel Leelaventures, which had reported a loss for the December quarter, has been referred to the corporate debt restructuring (CDR) cell to recast debt of Rs.40bn.(BS)

Tata Motors has stepped up research and development funding on premium brands Jaguar and Land Rover, promising over 30 new offerings including new products, variants and face-lifts over the next three-five years.(BS)

Honeywell Technology Solutions, has received approval from the Karnataka government for setting up the R&D facility which entails an investment of Rs4.02bn according to highly placed sources in the state government.(BS)

Seforge Limited, a Suzlon Group subsidiary, said it made an agreement with an undisclosed wind turbine manufacturer for the supply of machined tower flanges, used for wind towers, over a period of three years. The Rs3.67bn contract covers supply of flanges for wind turbine towers for projects in India and international markets.(BS)

Piramal Healthcare and Future Capital have invested Rs3.1bn in Mumbai-based real estate developer Rustomjee Group.(BS)

Infosys Limited is planning to double the current strength by recruiting 5,000 people at its 448-acre Pocharam campus here by the end of this calendar year.(BS)

Tata BlueScope Steel Ltd — the equal joint venture between Tata Steel and Australia-headquartered BlueScope Steel — is aiming to double its export revenue to Rs1.2bn within two years.(BL)

Hero MotoCorp is expected to announce plans to set up its fourth plant in Gujarat in March itself, even as talks speed up for a fifth facility likely at Karnataka.(BL)

Aditya Birla Group company Novelis is looking to conclude sale of its three aluminium foil manufacturing plants in France, Luxembourg and Germany to American Industrial Acquisition Corp (AIAC) by June this year.(BL)

Reliance Industries wants to buy Cairn India’s Rajasthan crude oil for processing at its only- for-exports Jamnagar refinery in Gujarat and has approached the government for its approval nod for the same.(BL)

Ranbaxy Laboratories Ltd announced that it has launched the generic versions of Atorvastatin tablets in Italy, Sweden and the Netherlands. (BL) 

Ybrant Digital is set to acquire a US-based online services firm for around US$200 mn underscoring its global ambitions in the fast-growing sector of the media industry.(ET)