IOC to invest Rs 1,750 bn over the next 7 years other Top Corporate News
Check out the most important news stories which captured the headlines at the corporate level in India and internationally.
SBI will issue EMV chip and pin based debit cards to its new customers to ensure enhanced secure transactions. EMV chip and pin feature protects against skimming and card transaction frauds. (ET)
Ahead of the launch of telecom venture Jio and completion of USD 33bn capex cycle, Reliance Industries is focusing on HR transformation with aim to motivate, engage, and retain talent. (ET)
Opposing an immediate stake sale in Coal India Ltd, foreign investors have told the Finance Ministry that further disinvestment in the coal miner should be put off as the current market valuation is low. (ET)
The Delhi High Court has held that advertising and marketing expenses incurred by Maruti Suzuki India cannot be treated as an “international transaction” for income tax purposes and would not therefore attract transfer pricing provisions of income tax law. (BL)
With the launch of new scooter ‘Duet’, Hero MotoCorp is expecting to increase market share in the segment to 20 per cent from 14 per cent, a senior company official said. (ET)
IOC will invest Rs 1,750bn over the next seven years on expanding refinery capacity, building petrochemical plants and laying pipelines. (ET)
Cairn India is set to launch the world’s largest enhanced oil recovery programme, investing about $760mn in the site where its first oil was discovered in the Thar desert of Rajasthan. (ET)
Tata Power said its 120-MW joint venture Itezhi Tezhi Hydro Power Project in Zambia has received Clean Development Mechanism (CDM) nod from United Nations Framework Convention on Climate Change (UNFCCC). (ET)
The Supreme Court has refused to stay a class action suit filed by the central government against Nestle India over the company’s Maggi noodles. (ET)
United Spirits, is pulling back from the ready-to-drink (RTD), hinting at lack of scale in domestic RTD sales. (ET)
Shemaroo Entertainment plans to launch its movie premiere service ‘Miniplex’ on cable and online after partnering with two DTH players – “Airtel” and “Tata Sky”. (ET)
