Cairn India plans to invest US$100mn on Rajasthan gas fields and top corporate news of the day

India Infoline News Service | Mumbai | October 28, 2016 08:45 IST

Asian businessman reading newspaper on park bench
Cairn India plans to invest USD100mn with focus on Rajasthan gas fields. (BS)
Hero MotoCorp has invested Rs2.05bn to pick up 26-30% stake in domestic electric vehicle (EV) maker Ather Energy. (BS)
The Thane Food and Drug Administration on Wednesday has sent a show cause notice to Wanbury Pharma for illegal export of Metformin Hyrdrochlodride, a diabetes drug. (ET)
NMDC and Mishra Dhatu Nigam (MIDHANI) have signed a memorandum of understanding to develop tungsten mines and processing technology for the metal, a key ingredient in making heavy-alloy ammunition systems for the armed forces. (ET)
Sun Pharmaceutical Industries has launched generic versions of Daiichi Sankyo medicines, used in the treatment of high blood pressure, in the US market. (BL)
The board of Oil and Natural Gas Corporation gave its nod for issuance of one bonus share of Rs5 each for every two shares held in the company. (BL)
MMTC has joined hands with HDFC Bank, ICICI Bank and Andhra Bank to retail gold coins with a new buyback option. (BL)
Sagar Cements Limited has decided to raise Rs3bn by way of issuance of securities, including the issue of equity shares on a preferential basis to promoter and promoter group and to others. (BS)
Nava Bharat Ventures Limited has recently concluded sale of 100% shares in one of its overseas subsidiary Nava Bharat Lao Energy Pte Limited, and thereby its 70% shareholding in Namphak Power Company Limited. (BL)
The British subsidiary of ICICI Bank -- ICICI Bank UK Plc -- announced the launch of online money transfer services to facilitate transaction from any bank accounts in Sweden, Norway and Denmark to any recipent account based in India. (ET)
The government is yet again looking to monetise its stake in Hindustan Zinc and may suggest a share buyback offer to the company controlled by Vedanta's Sterlite Industries besides seeking a special dividend. The government owns 29.59% stake in the firm that is worth over Rs300bn at current market prices. (ET)