Cairn India has discovered an oil and gas in Western India. It is good news for India as the country still depends on oil import to satisfy its domestic and industrial needs. It pays huge sum as crude import bill from its state exchequer.
The newly discovered area is located approximately 1.5 km east of the Raageshwari 1 well which is a commercial and approved field development plan. The Mangala, Aishwariya Raageshwari and Saraswati development area, nearby the discovered field, are already producing oil.
The shareholders of Pyramid Saimira has reason to smile as the Securities and Exchange Board of India (Sebi) has directed the company to make an open offer at a minimum price of Rs 250 to acquire additional 20 per cent shares of company from the public. Its shares are currently trading at Rs 75.40 from around Rs 38 on December 1.
Nobel laureate Amartya Sen supported reservation in higher educational institutions for the under privileged sections of society. He asked to understand the justice component in quotas as Indian lower class has always been denied to study on the basis of cast, creed and poverty.
The US government has started to put pressure on India's largest private sector firm Reliance Industries (RIL) to stop sale of gasoline to Iran. A group of American Congressmen expressed reservations on the decision of Export-Import Bank of the US to provide financial assistance to RIL as it has business ties with Iran.
Tata Motors Ltd would inject "tens of millions" of pounds into Jaguar Land Rover according to reports. The move is aimed to mitigate the impact of global slowdown. Tata bought the luxury carmaker JLR earlier this year for $2.3 billion from Ford Motor Co.
