CG bags a new order and other top corporate news of the day

India Infoline News Service | Mumbai | January 18, 2017 09:44 IST

Check out the most important news stories which captured the headlines at the corporate level in India and internationally.

Businessman-sitting-on-bench, News
Reliance Industries was confident that the Union government’s penalty on producing natural gas from ONGC’s share of natural gas in the Krishna-Godavari basin is “not sustainable”. (BS)

A fresh round of war of words broke out between Reliance Jio and Bharti Airtel, with the former alleging that its service continues to face congestion issues with some of the large operators, including Airtel, not providing adequate points of interconnection (PoI) - a charge the incumbent operator refuted. (BS)

Pokarna Engineered Stone (PESL), the wholly owned subsidiary of Pokarna Limited, has secured exclusive rights to use Bretonstone technology in India through March 2020. (BL)

Crompton Greaves has bagged a USD105mn (Rs7.15bn) order from Indonesia’s state-owned electricity firm PT PLN to make and install power transformers. (BL)

Pristine Group of companies has bought out the container train operating licence of Reliance Infrastructure. Pristine now gets the licence to operate container trains for the remaining 13 years of the 20-year period. (BL)

Cadila Healthcare has settled all outstanding patent litigation related to Livalo tablets with Kowa Co., Kowa Pharmaceuticals America Inc and Nissan Chemical Industries Ltd. (BL)

A committee under the Ministry of Environment, Forests and Climate Change has given a green signal to Cairn India for undertaking drilling works of 64 exploratory and appraisal wells in KG-OSN-2009/3 block in KG basin at Prakasam and Guntur districts of AP. (ET)

NTPC expects to cut losses from Chhabra power station that it acquired last week to one-fifth by saving on interest outgo and raising operational efficiency. The company is on the lookout for more state-run stressed assets for buyouts. (ET)

ICICI Prudential Life Insurance has acquired 8.41% stake in financial technology services provider Fino Paytech Ltd (FPL) for a total consideration of Rs1bn. (ET)

The government is seeking a dividend of up to USD2.2bn from partly state-owned Hindustan Zinc Ltd (HZL). (BS)

Vedanta Resources and Jain Irrigation Systems Ltd (JISL) are raising foreign funds by selling dollar bonds to overseas investors. (ET)
 

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