Corporate Snippets

Tata Power said a consortium led by the company has been awarded three coal bed methane blocks for exploration in Satpura, Madhya Pradesh. (ET)

Dubai’s Istithmar sold its 6.9% stake in SpiceJet for US$25.3mn. (ET)

Tata Motors will invest around Rs100bn in the next 2-3 years on product development, facility modernisation and other capex purposes. (ET)

LIC has hiked its stake in Bharti Airtel to 5%. (FE) 

IOC has started buying crude oil from Cairn India's Rajasthan oil fields, which have now crossed the 1,00,000 barrels per day mark in production. (FE)

IOC plans to set up solar power panels and power plants at its over 18,100 retail outlets across the country at a cost of Rs5bn. (BS)