± Reliance Industries Ltd is working on a pricing formula for coal bed methane from three blocks in Sohagpur (east and west) and Sonhat in Madhya Pradesh, prior to asking government approval. (BS)
± Coal India is in negotiations to pick 15% stake in a joint venture with US-based coal firm Peabody Energy's US$600mn mining project in Australia. (BS)
± A ministerial panel is likely to meet on May 27 to consider Cairn Energy's sale of a majority stake in its Indian unit to Vedanta Resources. (BS)
± Larsen & Toubro has received an order over Rs35bn from Chennai-based PPN Power Generating Company. (BL)
± Rs80bn FPO of SAIL is likely to hit the capital markets by around June 14, while SAIL would file the prospectus for the issue by the end of this month. (BS)
± JSW Steel plans to spend Rs26.95bn for expanding annual production capacity at its Vijaynagar plant to 12MTPA. (BL)
± Wipro Infotech has been selected by United Bank of India to deploy a wide area network (WAN) optimisation solution from Cisco for across its more than 1,600 branches and offices. (BS)
± HCL Technologies has got a contract from a unit of US bank First Horizon National Corp to automate its commercial lending operations. (BS)
± Glenmark Pharmaceuticals has licensed a new biotech drug to France's Sanofi which has the potential to generate revenues of Rs27bn. (ET)
