ONGC: The company will add Vindhya Basin on production. Exploratory well Hatta#3 was drilled in the Son valley sector of Madhya Pradesh. On testing, the well-produced over 62,044 cubic metres/day gas, thus confirming the production potential of Proterozoic Basin for the first time in India.
ONGC, Oil India, GAIL India, RIL: Price of domestically-produced natural gas has been doubled. The price of gas for regulated fields will be $6.1 per million British Thermal Unit, more than twice the current price of $29 per million Btu.The new price will be effective for six months beginning April 1.
Hindustan Oil: Pre-commissioning and safety checks at KGB-offshore installation and FSO Prem Pride are complete. The system is ready to receive first hydrocarbons.
Nestle India: To consider declaration of dividend on April 11.
Lupin: The U.S. FDA concluded an inspection at the company’s wholly owned subsidiary Novel Laboratories based in Somerset, New Jersey. The inspection closed with thirteen observations. The company does not believe that this will have an impact on disruption of supplies or the existing revenues from operations of this facility. The facility contributes less than 5% of its global revenues, the company said.
Tata Consultancy Services: To consider declaration of final dividend on April 11.
State Bank Of India: India’s largest public sector lender acquired 5% stake in India Debt Resolution Company.
Vedanta/Hindustan Zinc: The company will source 580 MW of Renewable Energy for its operations. at Hindustan Zinc, Bharat Aluminum Co. and Vedanta Ltd.
Sterlite Technologies: The company has sold 64.98% stake in Maharashtra Transmission Communication Infrastructure for Rs 43 crore.
Club Mahindra: The company has voluntarily liquidated its Finnish arm Suomen Vapaa-aikakiinteistot Oy LKV.
Adani Enterprises: Unit wins Rs 2,010 crore order from NHAI.
Adani Wilmar: The company has subscribed 90,000 shares of Rs 10 each of AWL Edible Oils and Foods, a wholly owned subsidiary.
Punjab and Sind Bank: The bank has issued 272.51 crore equity shares of face value Rs 10 each at Rs 16.88 per share on preferential basis to the Government of India. Government’s stake has now increased to 98.25% from 97.07%.
Kansai Nerolac Paints: To consider dividend on May 10.
NCC: The company will sell its entire stake in NCC Vizag Urban Infrastructure to GRPL Housing for Rs 199.5 crore.
Future Retail: The company reappointed Kishore Biyani as executive chairman for three years with effect from April 1. CEO Sadashiv Nayak has resigned.
Union Bank: The bank reduced its stake in India Debt Resolution Co. from 12.3% to 5%.
Punjab National Bank: The bank reduced its stake in India Debt Resolution Company from 11.18% to 5%.
Novartis/Bosch: To consider declaration of final dividend on May 19.
Indian Bank: The bank appointed Sunil Jain as chief financial officer in place of Arun Kumar Bansal, with effect from March 31.
Nippon Asset Management: To consider declaration of dividend on April 26.
Vardhaman Textiles: The company received approval from NCLT for scheme of amalgamation of VMT Spinning Company, Vardhman Nisshinbo Garments with Vardhman Textiles.
Mangalore Refinery and Petrochemicals: The firm has acquired compulsorily convertible debentures of ONGC Mangalore Petrochemicals for Rs 1,019.99 crore.
BASF: To consider declaration of dividend on May 9.
Gokaldas Exports: The company expects a two-week delay in raw material imports due to China lockdowns, possibly impacting production partially in the short term.
CEAT: The company said that it has “never indulged in nor was part of any cartel nor undertook any anti-competitive practices” after media reports said that Competition Commission of India raided company offices on March 30.
CSB Bank: The bank’s Managing Director and CEO CVR Rajendran took an early retirement effective March 31.
Cipla: The company got tentative approval for Dolutegravir Lamivudine from US FDA.
Ritesh Industries and Properties: The company has listed 12.22 lakh shares of Rs 10 each, issued at a premium for Rs 12 to promoter on preferential basis exercising the optionally fully convertible debentures.
Ruchi Soya: The company approved issue price of Rs 650 per share for its follow-on public offer.
Raymond: The company has received NCLT approval for scheme of demerger of Raymond Apparel, comprising of B2C business including Apparel business.
Wipro: Unit Wipro GE Healthcare launches its new manufacturing facility in Bengaluru.