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BUSINESS

ONGC’s Rovuma offshore area takes FID for two LNG Projects

Oil and Natural Gas Corporation’s (ONGC) wholly owned subsidiary — ONGC Videsh’s Rovuma Offshore Area 1 consortium (Area-1) has taken a Final Investment Decision (FID) for the two train Golfinho/Atum Mozambique LNG Project. Mozambique LNG Project will be the first onshore LNG facility in Mozambique consisting of initial two LNG ... Read More »

HDFC Bank to open 25 more branches in Gujarat

HDFC Bank will open 25 more branches in the state of Gujarat, taking its branch network to over 440. The Bank would open these branches by December 2019. As of March 31, 2019, the bank had a network of 415 branches and 1,187 ATMs in the state, the largest among ... Read More »

SEBI imposes penalty of Rs 12 lakh on NDTV for disclosure lapses

Markets regulator, Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 12 lakh on New Delhi Television (NDTV) for failing to make timely disclosures to the stock exchanges. The order comes after the regulator examined multiple disclosure lapses by the company and noted non-compliance with the ... Read More »

M&M aims 10-12% growth in Bolero range pickups in FY20

Mahindra and Mahindra (M&M) is aiming 10 to 12 percent growth in its Bolero range pickups this fiscal (FY20). The company has sold 1.62 lakh Bolero Pickup range vehicles in FY19, compared to 1. 49 lakh in FY18, registering a 9% growth. M&M is the flagship company of the Mahindra ... Read More »

Bharti Airtel launches 4G services in Lakshadweep Islands

Bharti Airtel has launched 4G services in the Lakshadweep Islands. The 4G services will be available across Agatti, Bangaram and Kavaratti to begin with and will be gradually expanded to other islands of the archipelago. The company’s 4G services will enable local residents to access video streaming, fast downloads and ... Read More »

RBI imposes Rs 1 crore penalty on HDFC Bank

Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on HDFC Bank for non-compliance with directions issued by RBI on Know Your Customer (KYC)/ Anti-Money Laundering (AML) Norms and on reporting of frauds. The Bank has taken necessary measures to strengthen its internal control mechanisms ... Read More »

Coromandel Engineering to issue CNPRPS on private placement basis

Coromandel Engineering Company has received approval for issuance of 7% Cumulative Non-Participating Redeemable Preference Shares (CNPRPS) on a private placement basis for an amount not exceeding Rs 23 crore. The Board of Directors of the Company at its meeting held on June 18, 2019 has approved the same. The Board ... Read More »

Canara Bank to initiate process of stake sale in Can Fin Homes

Canara Bank will initiate the process of stake sale in part/full in Can Fin Homes (CFHL), as per the Disinvestment Policy of the Bank. The said permission is subject to disinvest at appropriate time depending on the market conditions and available options. Canara Bank is an Indian state-owned bank headquartered ... Read More »

Cricket Australia selects HCL Technologies as digital technology partner

HCL Technologies and Cricket Australia (CA) have entered into a multi-year partnership, with HCL being chosen as the Digital Technology Partner of CA. The company will help the Australian cricket’s governing body provide an elevated and immersive digital experience to cricket fans, players, partners, employees, and volunteers across the country ... Read More »

Elecon Engineering secures order worth Rs 79.12 crore from BHEL

Elecon Engineering Company has been awarded a prestigious order by Bharat Heavy Electricals (BHEL) for Supply & Erection of Stacker cum Reclaimer machines at its Udangudi STPP site, Thoothukudi District, Tamil Nadu worth Rs 79.12 crore. The order is expected to be executed within 18 months. Elecon Engineering Company is ... Read More »