Corporate News of the Day -- IIFL IJK ONGC has asked the government for data from Reliance Industries’ KG‐D6 block as it apprehends that RIL may be drawing gas from a reservoir connected to the gas reserve in the adjoining block operated by ONGC. (ET) Wockhardt’s Active Pharmaceutical Ingre‐dient or active substance manufacturing sites are also under review of the UK drug regulator, as part of the latter’s risk‐ based surveillance programme. This is apart from its three facilities – in Waluj, Chikalthana (both in Aurangabad, Maharashtra) and Kadaiya (in Daman & Diu) –which are already under the scanner. (BS) Coal India’s follow‐on public offer for a 5% stake sale will have to wait till the government appoints seven independent directors on its board, who have retired this year and their positions are yet to be filled up. (ET) The Centre said it has allocated Rs20bn to State Bank of India and Rs18bn to IDBI Bank as part of its plan to infuse Rs140bn in fresh capital to 20 public sector banks. (BL) Cairn India is keen to partner global leaders to hunt for shale resources in its prolific Rajasthan block and wants a policy regime to allow companies to produce hydrocarbons, irrespective of whether they are contained in a conventional field or a new source. (ET) The Zydus Group has received approval from the US Food and Drug Administration for phase I clinical trial of Zydpla 1, an anti‐diabetic solution. (BL) Educomp has defaulted on provident fund remittance relating to about 15,000 employees, for the first six months of current financial year. (ET) The National Highways Authority of India board has approved L&T’s plans to set up a business trust in Singapore and list six toll road projects on the Singapore stock exchange that could raise up to US$1bn. (ET) The Foreign Investment Promotion Board would take a call on allowing Singapore Airlines to tie up with Tatas for setting up a full‐ service airline, besides 29 other foreign direct investment applications. (BS) Punj Lloyd plans to divest stake in its non‐core assets, list a subsidiary overseas and chase receivables as part of a plan to halve debt to about Rs30bn in a year. (ET) Jindal Steel and Power is planning to invest close to Rs20bn in setting up two new bar mills. The new mills, each with a capacity of around 1.4 mn ton, are slated to come up at JSPL’s existing steel making facilities at Angul in Odisha and at Oman. (ET) Other News The Telecom Regulatory Authority of India is firm on its stand of lowering the reserve price for spectrum auction by 60%. It also justified its recommendation to not hold auction for CDMA operators as well as fixing a flat annual fee for using spectrum.(BL) Thailand has agreed to pay the full duty on gold and jewellery shipped to India, ending the acrimony between the two countries over thirdcountry metal being routed into India at a concessional duty. (BL) The Ministry of Petroleum and Natural Gas is to ask the Election Commission of India to allow it to announce arise in the commission oil companies pay their dealers, before the coming festive season. (BS) The Reserve Bank has received till date US$10.1bn under the special concessional window for swapping Foreign Currency Non‐ Resident (Banks) Deposits and Overseas Foreign Currency Borrowings. (ET)
Posted on: Thu, 24 Oct 2013 03:36:21 +0000
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