News: Ø BP is working with Reliance Industries to extend the life of producing gas fields in the KG-D6 block. BP, which bought a 30% stake in RILs 21 oil and gas blocks, including KG-D6, for $7.026 billion in 2011, is working with RIL to arrest the output decline in the fields also RIL to Shutdown Jamnagar operations for maintenance for around 25 days. Ø Tata Steel is hopeful of operating its Kalinganagar and Gopalpur units at Odisha in 2015-16. While the first phase of the 6-million tonnes per annum steel unit at Kalinganagar will be operational by the end of FY-15, construction of the ferro-alloy unit at Gopalpur will be completed in another 18 months. Ø BASF Chemicals India has opened a global research and development centre at its plant in Navi Mumbai with an investment of ?2 million (about Rs. 17 Cr). Ø Ranbaxy Laboratories has once again recalled some batches of its generic version of cholesterol-lowering Lipitor drug in the US after a dosage mix-up was detected. Ø The government has decided to give firms, including JSPL and Tata Steel, more time to seek clearances from environment ministry and furnish proof on the same to coal ministry by December 1, failing which their mines would be deallocated. Ø ICICI Bank is planning to double its reach and support to over two million women with cumulative loan disbursements of Rs 2,500 Cr under its programme for self-help groups. Ø Dishman Pharmaceuticals and Chemicals Ltd is in talk to sell its 175 hectares of land in Gujarat to Nirma for about Rs. 650 Cr to cut its debt. Ø Financial Technologies has appointed JM Financial as its financial advisor for divestment of stake in Multi Commodity Exchange of India (MCX). Ø Maruti Suzuki is on a drive to boost its image from being a maker of small cars to one that manufactures technologically-advanced vehicles across several segments. Ø IOC has signed a deal to buy a 10% stake in natural gas assets and a linked liquefied natural gas project in North East British Columbia, Canada, for about $900 million (Rs. 5,500 Cr). Ø Bosch plans to earn more revenue from its energy solutions business as it prepares to make it among the three leading players in the country by 2020 and help the company expand its non-auto business. Ø Godrej Consumer acquires additional 4.63 percent stake in Darling Group. Ø Bajaj Auto launched a new 125 cc bike Discover. Ø NTPC Challenges CERC Order on Tariff Norms in HC. Ø Apollo Hospitals has postponed its plans to list on the Singapore Stock Exchange. Ø CCI gives nod to Rs. 870 Cr Thomas Cook-Sterling Holiday deal. Ø RBI raises FII purchase limit in Manappuram Finance to 49%.
Posted on: Mon, 10 Mar 2014 04:16:34 +0000