± Reliance Industries had two natural gas discoveries in NEC-25 block rejected because tests to establish reserves differed from methods recommended by the regulator. (BS)
± L&T has sought shareholders approval to transfer its electrical and automation business to a subsidiary or associate company or to any other entity as a going concern. (BL)
± BHEL in a consortium with Alstom has bagged a Rs16bn contract for supplying steam turbine generators for the Kakrapar nuclear power expansion project in Gujarat. (BL)
± Infosys will recruit 4,000 engineers, 1,000 each in the next four quarters in 2011-12, for its Special Economic Zone (SEZ) in Hyderabad. (BL)
± SBI has increased its base rate by 25bps to 8.5% from April 25. (BS)
± Reliance Infrastructure, which has bagged the Rs51bn Worli-Haji Ali sea link project, is currently in talks with ICICI Bank for Rs20bn loan comprising US$250mn of ECB and the balance rupee loan. The interest rate for the proposed loan would be 10%. (BS)
± M&M has launched India's first 15 HP tractor, the Yuvraj 215. (BS)
