Corporate Snippets

RIL announced its seventh discovery in the 635 square-kilometre block, CB-ONN-2003/1 (CB 10 A&B), in the Cambay Basin, about 130 kilometres from Ahmedabad. (BS)

SBI to announce its base rate today; hints at fixing it at 8%. (ET)

Tata Motors plans to raise Rs47bn through a combination of instruments to meet capital requirements and cut debt. (BS)

ITC is setting up another unit at its existing paper mill in Bhadrachalam at a cost of Rs10bn to add a paper plant of 0.2mtpa capacity. (BS)

PowerGrid Corp would invest Rs580bn for setting up network to facilitate evacuation of electricity from power surplus states to others. (FE)

ITC plans to extend its Vivel personal care range to deodarants and talcs. (BS)