ONGC stops naphtha exports from Hazira and other top corporate news of the day

India Infoline News Service | Mumbai | February 10, 2017 08:44 IST

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

GAIL India is in favour of extending the LNG support scheme for gas-based power plants. GAIL was in favour of continuing 50% exemption on the natural gas pipeline tariff for gas-based power plants to boost pipeline utility to the next financial year. (BL)
 
NTPC Ltd is looking to add capacity in a phased manner over the next few years. This is in line with the Central Electricity Authority's (CEA) projection of thermal capacity addition in the next five years. (ET)
 
Ajanta Pharma has said the US health regulator has issued one observation for its Paithan facility in Aurangabad after the inspection. (BL)
 
Kotak Mahindra and Axis Bank have strongly denied rumours that the biggest consolidation in banking space is in the works. For the past few weeks, the stock market has been abuzz with prospects of a merger between the two private banks. (ET)
 
Welspun India Ltd (WIL) has entered into a co-operation agreement with the Cotton Egypt Association (CEA) to promote and market Egyptian cotton products worldwide. (BL)
 
Idea Cellular has enabled a USSD-based platform for shopkeepers and customers to conduct digital transactions using Idea Money service. (BS)
 
Oil and Natural Corp (ONGC) will not export naphtha from Hazira in western India as it supplies the fuel to a cracker operated by ONGC Petro additions (OPaL). (BS)
 
Sundaram-Clayton Limited (SCL) to set up its first manufacturing facility outside of India with an additional investment of over USD50mn (around Rs3.50bn). (BS)
 
The Indian Hotels Company (IHCL) announced all its hotels will be brought under a single brand — Taj Hotels Palaces Resorts Safaris. (BS)
 
Tata Steel UK has signed an agreement to sell its speciality steel unit to Liberty House Group for GBP100mn. (BS)
 
Tata Teleservices is believed to be in talks to sell its entire stake in Viom Networks to American Tower Corporation for about Rs40bn. (ET)
 
Hathway Cable & Datacom has launched a new value added on-demand service Hathway Special under its cable business. Available for all Hathway subscribers, the ad-free service will be offered for a free preview starting February 9, for 30 days. (ET)

 

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