Tuesday, March 15, 2011

Corporate Snippets

±  Maruti Suzuki has inked a MoU with professional engineering society, Society of Automotive Engineers, to promote and help young automobile engineers in conceiving, designing and fabricating Formula-1 style sports cars. (ET)
±  ONGC has made a significant gas discovery in Tripura but did not give reserves the latest find may contain. (BS)
±  ONGC Videsh Ltd, the overseas arm of ONGC, has lost bid to buy US energy major Exxon Mobil's 25% stake in deep-sea oil block in Angola. (ET)
±  SAIL is continuing a joint feasibility study with Japan's Kobe Steel for a steel plant and a 1,000 megawatt gas-based power plant in north India. (ET)
±  SAIL has started the process of developing Chiria reserves in Jharkhand and also appointed a global consultant to prepare detailed project execution report. (BS)
±  SEBI has not yet cleared Vedanta group's open offer for Cairn India, a mandatory requirement for conclusion of London-based mining group's US$9.6 billion acquisition to foray into oil sector. (ET)
±  Educomp said its ICT division 'Edureach' has bagged an order worth Rs680mn from Maharashtra government for implementing its solutions. (FE)
±  Religare Enterprises plans to raise up to Rs25bn for expansion, including investments in insurance business besides acquisitions. (ET)

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