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Firms to submit bids for third round of discovered small fields on May 31

India is also set to see the curtains for yet another round of oil and gas auctions as companies are set to submit the bids for the third round of discovered small fields on May 31.

These fields are spread over nine sedimentary basins covering over 13,000 square kilometers with in-place hydrocarbons estimated to be around 230 million metric tonne.

JSW Steel earmarks Rs 20,000 cr capex, hopes export duty to be short-lived

JSW Steel has earmarked Rs 20,000 crore capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coking coal prices are likely to be short-lived, a top company official said.

The leading steelmaker in the country does not expect any "substantial easing" of price of the metal in the domestic market from the current levels, unless the prices of coking coal, a key raw material for the steel manufacturing, moderate in the international market, he said.

Hinduja Global Solutions Q4 profit jumps to Rs 5,686 cr on one-off gains

Business process management firm Hinduja Global Solutions said it consolidated profit after tax jumped multi-fold to Rs 5,686 crore for the quarter ended March, mainly on account of a one-time gain from divestment of its healthcare services business.

The company had registered a profit after tax (PAT) of Rs 130.32 crore in the same period a year ago.

NCLT allows insolvency proceedings against National Textiles Corp

The National Company Law Tribunal (NCLT) has ordered to initiate insolvency proceedings against state-run National Textile Corporation (NTC) after admitting a plea by one of its operational creditors claiming default of around Rs 14 lakh.

The New Delhi bench of the NCLT has also appointed Amit Talwar as an interim resolution professional (IRP), suspending the board of NTC and has also declared a moratorium against the PSU as per the provisions of the Insolvency & Bankruptcy Code (IBC).

JK Tyre lines up Rs 1,100 crore capex for two years, says CFO Aggarwal

JK Tyre and Industries has planned a capital expenditure of Rs 1,100 crore till next financial year, company's CFO Sanjeev Aggarwal said. The tyre maker plans to invest in capacity expansion as well as regular maintenance of the existing infrastructure.

Indian Oil Corporation plans to transport fuel to Tripura via Bangladesh

PSU major Indian Oil Corporation (IOC) on Sunday said it is looking to transport fuel to Tripura through Bangladesh as the rail network has been totally snapped due to massive landslides in Assam.

After the only rail link connecting Assam's Dima Hasao district and Barak Valley, Mizoram, Manipur and Tripura with the rest of the country was washed away earlier this month, the company started moving all its supplies by road via Meghalaya, bearing more than double the cost.

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