Fuel price revision
New Delhi, Jan. 9: The government may reduce petrol and diesel prices if the current fall in international oil prices continues and crude declines below $50 a barrel, petroleum secretary M.S. Srinivasan said today. “The fall in international crude prices is of much relief to us. We are closely monitoring the emerging scenario ... Certainly, we will consider a revision if prices fall further,” he said.
Mumbai, Jan. 9: US-based Mylan Laboratories has acquired a 51.5 per cent stake in Matrix Laboratories for Rs 306 per share. With the completion of the deal, MP Laboratories (Mauritius), a wholly owned subsidiary of Mylan, owns a 71.5 per cent stake in Matrix as it had acquired 20 per cent through an open offer earlier.
Mumbai, Jan. 9: Jet Airways, which is involved in a tussle with its failed takeover target Air Sahara, today failed to get respite from an arbitration panel on its plea for refund of Rs 500 crore paid as advance. Jet Airways “hopes to be profitable” in the quarter ended December 31. The company’s shares gained 3.1 per cent.
New Delhi, Jan. 9: The government today decided to set up a high-level task force to look into the problems confronting the plantation industry. The task force will also work out the methodology of insurance schemes to reach growers.
Calcutta, Jan. 9: Tata Teleservices would invest around Rs 1,480 crore in the four eastern regional circles of Calcutta, the rest of Bengal, Bihar and Orissa.
New Delhi, Jan. 9: Indian Oil’s subsidiary, Lanka IOC, has been fully compensated by the Sri Lankan government for suffering losses due to under-realisation in sales of petroleum products in the country.
New Delhi, Jan. 9: As part of its global expansion plans, Dabur Pharma has acquired the sales and distribution network of Thailand-based Bioscience for an undisclosed sum.