Oil and Natural Gas Corporation (ONGC) has emerged the provisional winner for close to 10 out of the 29 blocks it has bid for in the ninth round of the New Exploration Licensing Policy (NELP).
Reliance Industries has bid for six oil and gas exploration blocks while Cairn India submitted offers for two out of the 34 on offer in the 9th round of auction under the New Exploration Licensing Policy (NELP). Meanwhile, the oil regulator DGH said that Reliance Industries has not kept its commitment on drilling wells on the prolific eastern offshore KG-D6 field that has seen drastic fall in production.
The Union Cabinet is likely to approve tomorrow the induction of Rs 4,500 crore foreign equity by Hero Investments (HIPL), mainly to fund the buyout of 26 per cent stake of Japan's Honda in Hero Honda.
Kumar Mangalam Birla-led Idea Cellular would invest Rs 4,200-crore in 3G network infrastructure, including erecting around 16,000 towers by March, 2012.
SREI Infrastructure Finance is eyeing to clock up to 30 per cent growth both in profit as well as disbursement in FY12, driven by growing momentum in the sector.
ITC Hotels, the hotels division of the tobacco-to hospitality major ITC, is foraying into retail mall and service apartments. Most of the new mega hotel projects of the company will have luxury retail space and service apartments.
Delhi-based realtor Unitech had objected to Uninor India's proposed rights issue at a board meeting earlier this year and had demanded that a business plan be finalised before the modalities of fund raising are decided but its objection was over-ruled by its Norwegian partner, Telenor.
Country's largest software firm Tata Consultancy Services (TCS) has bagged an order from Australian financial institution CUA for deployment of its banking solution. Software education services provider Aptech plans to expand in Africa, Russia and Eastern Europe.
Market regulator Securities and Exchange Board of India (SEBI) has approved the $1.22 billion (more than Rs 5,400 crore) takeover of India's sixth largest IT firm Patni Computer by US-based iGate.
Tata Steel is working on a pilot project that will enable it to use waste material in iron ore.
Swift Fundamental Research and Education Society (SFRES), the education arm for the Rs 1,600-crore Ind Swift group (manufacturer as well as exporter of Active Pharmaceutical Ingredients (API) and finished doses) is geared to venture in global education with the plan of setting up of a college in the United Kingdom.
Back office services firm Firstsource Solutions expects to clock a growth of about 10% in FY11 and expects to improve on that next fiscal.
The government said Coal India has lowered the production target to 440.20 million tonnes from 460.50 million tonnes for the current fiscal.
SREI Infrastructure Finance has been classified as Infrastructure Finance Company (IFC) by the Reserve Bank.
India's Essar Oil may defer its planned refinery shutdown to September-October from a planned May-June.
Reliance Communications has introduced Star Talk, a mobile voice platform service to reach out to one’s favorite celebs. Star Talk service includes round the clock celebrity entertainment news, gossips, film news, star interviews, movie masala, movie reviews, archives, etc.
Tata Sponge Iron has decided to install an AFBC based 25 MW power plant, subject to obtaining all necessary and statutory approvals / clearances.
Natco Pharma’s novel anti-cancer drug has received Orphan Drug Designation from the United States Food and Drug Administration (US FDA) for three indications- Glioma (brain tumor), pancreatic cancer and chronic myelogenous leukemia.
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