New Delhi, Jan. 28: Finance minister Jaswant Singh has cleared 38 foreign direct investment proposals worth Rs 121.46 crore, including those of US-based Nalco Chemicals and French company FCI. Most of the FDI proposals that have been cleared on the recommendations of the Foreign Investment Promotion Board pertain to chemicals, petro-chemicals, telecom and IT. FCI France plans to invest Rs 30.04 crore in its Indian arm, FCI OEN Connectors, engaged in manufacture and sale of electronic connectors. US-based Nalco Chemicals seeks to hike its stake in its Indian unit by acquiring shares from domestic shareholders for Rs 28.80 crore.
New Delhi, Jan. 28: Oil and Natural Gas Corporation today filed with Sebi the draft prospectus for the public issue of government’s 10 per cent stake.
Mumbai, Jan. 28: Pfizer Ltd has sold its Ankleshwar plant to Anodyne Remedies India Ltd for Rs 4.5 crore.
Mumbai, Jan. 28: The Securities and Exchange Board of India has asked mutual funds (MFs) to obtain a unique client code (UCC) for their existing schemes from the BSE and NSE to operate in the securities market. Similarly, funds should also obtain UCC for new schemes, prior to the commencement of trading on behalf of these schemes or funds.
New Delhi, Jan. 28: ONGC has struck gas in the Krishna-Godavari basin situated in the deep-sea area off the Andhra coast. Drilling in still in progress at the field.
