Canara Bank: State-owned Canara BankBSE 0.24 % on Thursday said it expects to raise Rs 716 crore by part selling stake in its subsidiary Can FinBSE -0.84 % Home Finance.
Emami: The company on Thursday announced that the commercial production of Emami’s newly setup plant in Pacharia, Dolapathar, Kamrup, Assan has commenced on February 23.
Bharti Airtel: Telecom major Bharti AirtelBSE -1.63 % is set to abolish domestic roaming charges on its network for both voice and data services, a person familiar with the matter said, matching a key offer by rival Reliance Jio Infocomm, the entry of which has triggered a price war in India.
IDBI Bank: The government-owned IDBI BankBSE -1.83 % has decided to freeze lending and branch expansion plans after it posted a historic loss of Rs 2,255 crore in the third quarter in an effort to conserve capital, a buffer that banks keep as a cushion against loan defaults. Instead, it has decided to focus on bad loan recoveries which are almost a fifth of its loan book.
ONGCBSE 0.79 % and HPCL: Oil and Natural Gas CorporationBSE 0.79 % (ONGC) will take control of Hindustan PetroleumBSE -0.74 % Corp (HPCL) as part of the government’s plan to create an integrated public sector oil entity comparable with big global oil companies like Shell BP and Exxon, top government officials told ET.
Rain Industries: For the quarter ended December 31, 2016, the company reported a consolidated net profit of Rs 22.66 crore against net loss of Rs 7.55 crore in the corresponding quarter last year.
Shreyas Shipping: The company has taken delivery of the vessel MV SSL Delhi (2500 Teus).
Coal India: World’s largest coal producer Coal IndiaBSE 0.15 % said the board of its arm Northern Coalfield has approved a share buyback plan worth Rs 1,244 crore.
Gujarat Apollo: The company reported net profit of Rs 0.65 crore for the quarter ended December 31, 2016 against net loss of Rs 0.86 crore in the same period last year.
Tata Steel: The steel major has received environment clearance (EC) for expansion of its Haldia coke plant in West Bengal, Asia’s biggest standalone unit, from 1.6 million tonnes per annum (MTPA) to 2.2 MTPA, entailing investment of Rs 769.45 crore.
EvereadyBSE 0.88 % Industries: The dry cell battery maker Eveready IndustriesBSE 0.88 % said commercial production has started in its new plant in Assam. The Goalpara, Assam plant will have a capacity of 500 million pieces of batteries and nine million LED flashlights.
Jain Irrigation: Jain Irrigation SystemsBSE -0.32 % plans to raise up to $75 million through foreign currency convertible bonds (FCCBs) mainly for redemption of existing bonds.