Corporate Snippets

The government said it is in the process of granting the Maharatna status to four state-run firms -ONGC, SAIL, NTPC and IOC. (ET)

L&T and UK-based Howden Global have signed a JV to design, engineer, manufacture and supply axial fans and air pre-heaters to Indian thermal power plants ranging between 100 MW and 1,200 MW. (BL)

HCL Technologies has signed a US$500mn strategic pact with pharmaceutical major MSD (also known as Merck & Co) for a period of five years. (BS)

Oil India and Indian Oil Corp has pulled out of the race to acquire Gulfsands Petroleum after the UK-listed firm refused the Indian firms’ request for due diligence before making a firm offer. (ET)

NMDC and MMTC are likely to finalise the iron ore export contracts with Japan and Korea by this month-end or early next month. (BL)