ONGC cost cut
New Delhi, Jan. 12: State-owned ONGC plans to cut operational cost by at least 10 per cent by prioritising activities and putting off the less important ones for later, following the slump in oil prices to a 12- year low. ONGC plans to hire a consultant to suggest measures to cuts costs and control operating expenditure as Brent at $31 per barrel almost equals the company's production cost of every barrel of crude oil, sources said.
Strides Shasun
New Delhi, Jan. 12: Strides Shasun today got the Competition Commission's approval to acquire Sun Pharmaceutical's two business divisions in India for Rs 165 crore.
Hike funding
New Delhi, Jan. 12: Hike Messenger today said it has raised an undisclosed funding from Silicon Valley veterans such as Quora founder and CEO Adam D'Angelo, Dropbox's vice-president Aditya Agarwal and WordPress co-founder Matt Mullenweg.
PSU loss
Bhopal, Jan. 12: Union heavy industries minister Anant Geete today said out of 32 public sector undertakings under his ministry, 12, including Bharat Heavy Electricals, are running at a loss.