Petronet gets cracking on Vadinar-Kandla plan
Petronet India (PIL), the joint-venture pipelines company, is preparing itself for its first project from Vadinar to Kandla. Both Petronet India and Indian Oil will hold 26% stake in the project, with the private refining companies due to pick up 13% each. The cost of the pipeline is estimated at Rs 400 crore.

Search Chem may be merged with United Phosphorus
United Phosphorus (UPL) plans to merge its loss-making subsidiary, Search Chem Industries, with itself. The move is aimed at reducing overhead costs.

Swiss Telecom plan to increase Sterling Cellular stake cleared
The Foreign Investment Promotion Board (FIPB) has cleared a proposal of Essar group's Sterling Cellular to hike the stake of its foreign partner, Swiss Telecom PTT, to 48.87% from 32.56%. The Swiss company is increasing its stake by taking over three Mauritius-based entities, which together hold about 16.50% stake in Sterling Cellular.

  State Bank plans to beard foreign rivals in retail segment
  Metal Box to submit revised revival package
  Stallion buys 5 Dornier aircraft
  Novartis India gets set to unveil three drugs
  Revenue wing to move SC over Hero Honda excise fiat
  Iisco officers piqued over salary-hike denial
  Pollution Control Board raps Essar Steel
  Andrew Yule reduces its interest burden, set to post Rs 3 cr profit
  Cotton Corporation signs pact with 2 state-run firms for quality seeds
  TTK plans new venture for "Tantex" brand
  HAL set to phase out Kiran MK II helicopter
  Broken Hill round the bend after horror patch, say analysts
  LG to take on Hindustan Lever, P&G in healthcare segment
  World Briefing
  3 shipping firms join hands for LPG imports' transport
  Foreign appetite for Seoul's steel giant, Pohang Iron doubt
  Corporate Briefing
  IBP seeks alliance with stand-alone refiners
  Commodity Briefing
  Executive Briefing