Paving the way for the development of the 12 discoveries with gas reserves of around 90 bcm valued at over Rs 1 Tn at the current price for domestic gas of $4.66 per unit, the Cabinet Committee on Economic Affairs (CCEA) approved a policy on testing requirements for hydrocarbon discoveries made under the New Exploration and Licensing Policy (NELP).
The government took a raft of measures to choke sugar imports - including raising the import duty on the sweetener to 40% from the current 25% - and decided to scrap an excise duty on ethanol, meant for blending with petrol, to bail out a cash-starved domestic industry.
India is considering a proposal to renew long-term agreements (LTAs) for supply of high-grade iron ore to Japan and South Korea, Parliament. Negotiations on quantity and price will commence after approval of renewal of LTAs.
India's insurance regulator plans to include fixed deposits and bonds issued by housing finance companies and non-banking finance companies in the overall cap of 25% for banking, financial services and insurance (BFSI) sector, restricting further flow and trimming insurers' exposure to the sector.
The finance ministry is likely to bring in clarity on application of minimum alternate tax on other income streams for foreign investors including interest on bond, private equity and foreign direct investments (FDI). Official sources told that the amendment to this effect are likely to be introduced in the Finance Bill, 2015 when it comes up for discussion.
Motherson Sumi Systems (MSSL) has bagged an order worth more than Rs 150 Bn from German auto major Daimler Benz. MSSL has bagged the order through its subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV).
Bharti Airtel said it has lined up an investment of USD 3 bn, mostly for Indian and South Asian businesses. The company also announced termination of its controversial 3G intra-circle roaming agreements with Vodafone and Idea in various circles, except Kerala, by the end of FY16.
Cairn India told the Delhi High Court that the Rs 204.95 Bn demand slapped on it by the Income Tax department has been calculated on "wrong" principles and it would come to around Rs 50 Bn.
CBI has charged industrialist Naveen Jindal with corruption and misrepresenting facts to secure a coal mine in Jharkhand during the UPA era, in a fresh blow to the Congress politician who appears to be facing a hard time in the BJP-led regime
RBI has notified that foreign institutional investors and registered foreign portfolio investors can invest up to 40% of the paid-up capital of HSIL.
ONGC Videsh is walking a tightrope in Russia, seeking to balance its commercial and national interests. After ExxonMobil filed for arbitration against Russia, demanding lower taxes on income from Sakhalin-1 project, ONGC Videsh, partner in the project, has decided not to join the arbitration but seek tax parity with the American oil and gas giant if
Russia were to agree to its tax-cut demand, an executive with the Indian firm said.
IDFC will move out of the National Stock Exchange's benchmark index Nifty and will be replaced by auto component major Bosch.
HDFC Bank has sold its entire exposure of Rs 550 Cr given to Essar Steel to an asset reconstruction company.
Tata Power commissioned 24 Mega Watt (Mw) wind farm at Rojmal in Bhavnagar district through its subsidiary Tata Power Renewable Energy Limited (TPREL). The total capacity of the project is 54 Mw.
RBI imposes penalty of Rs 1.5 crore each on Bank of Maharashtra, OBC and Dena Bank for violation of norms.
Government says GAIL to lay natural gas pipeline from Jagdishpur (UP) to Haldia (West Bengal).
Supreme Infra bags EPC contract worth Rs 134.2 crore from Damodar Valley Corporation.
Deepak Fertilizers sells additional 9.3 lakh shares in Mangalore Chemicals via block deal.
Rakesh Jhunjhunwala sells 6.2 lakh shares of Sterling Holiday at Rs 270/share via block deal.
Promoter Gulf Oil International buys 12.37 lakh shares in Gulf Oil Lubricant via block deal.
TVS Motor Company will introduce two new motorcycles this year, including TVS Victor and a high-powered premium bike.
Infosys ropes in SAP executive Jason Wolf for ‘design push.
Bajaj Auto launched its new range of Pulsar sports bikes in the Uttar Pradesh market.
Listing of Equity Shares of VRL Logistics Limited (IPO). NSE Symbol: VRLLOG. BSE Code: 539118
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