ONGC, Adani Enterprises and Asian Paints to see some action today

Oil and Natural Gas Corporation (ONGC) has found hydrocarbon (gas) deposits at Meidum area in Mizoram-Assam border Kolasib district. As of now, the ONGC predicted that there could be 5,52,674 standard cubic feet (SCF) of gas per day from the Meidum exploration site. Four oil giants were involved in the oil exploration venture. However, Reliance company was axed for not undertaking an exploration and the Director General of Hydrocarbons would soon float another global tender to choose companies to take up exploration in the southern parts of the state.

Adani Enterprises’ 100% subsidiary -- Adani Aero Defence Systems & Technologies has signed the statement of intent with Alpha Design Technologies to co-operate and work together in the field of Unmanned Aircraft Systems (UAS) in India. Adani Aero Defence Systems & Technologies is a fully owned subsidiary of Adani Enterprises, with interest in design, technology development, technical collaboration, system integration services for Aerospace & Defence equipment and systems. The Adani Group is a global integrated infrastructure player with businesses across resources, logistics, energy and agro.

Kansai Nerolac Paints has sold its Chennai property. Brigade Enterprises and GIC, Singapore’s sovereign wealth fund, have jointly acquired Kansai Nerolac Paints’16-acre property in Chennai for Rs 537.86 crore. Brigade Enterprises, the Bengaluru-based developer has purchased through Perungudi Real Estate, a special purpose vehicle formed by it and GIC. The company plans to develop a mixed-use project of commercial and residential space.

Eicher Motors’ motorcycle division Royal Enfield, the fastest growing motorcycle brand in the world, has launched 'Himalayan', an all-terrain 411 cc motorcycle, in Delhi, priced at Rs 1.73 lakh (on road, New Delhi). Himalayan is available in two signature colour options- Granite and Snow and is open for bookings across all Royal Enfield dealerships across Delhi. Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.

Asian Paints has entered the retail segment of the adhesives category through a distribution arrangement with Germany’s Henkel Adhesive Technologies. Under the arrangement, Henkel’s adhesive brand Loctite will be sold at the retail level through a co-branding initiative. Asian Paints has a distribution network spanning 36,000 hardware shops. Efforts have already begun to woo retail customers through an ad campaign.

Gammon India’s board will this week consider a proposal received from an investor for investment in the company’s engineering procurement and construction business. A meeting of the board of directors of the company will be held on April 2, 2016, to consider a proposal received from an investor for investment in the company’s Engineering Procurement & Construction (EPC) business. Last month, the company had said three of its lenders including IDBI bank have decided to convert loans worth Rs 22.25 crore into equity.

Coal India’s (CIL) arm plans to involve private agencies in detailed coal exploration of mines as the mining major seeks to double its production by 2020. Coal India accounts for over 80 percent of the domestic coal production. Government has set a target of 1.5 billion tonnes coal output by 2020, of which 1 billion tonnes would be from the state-run miner. The output of Coal India is expected at 535-540 million tonnes this fiscal against the target of 550 MT due to slump in demand.

Maruti Suzuki India’s (MSIL) Smart Hybrid Vehicle from Suzuki (SHVS) technology is a win-win for all - customer and country - as it does not impact environment. The company is enjoying the first mover advantage in the SHVS technology. This is evident from the positive response to its two products - Ciaz sedan and multi-utility vehicle Ertiga - that have this technology. There are more than 40,000 units of both the vehicles on road over the last four-five months. Of the around 5,000 units of the Ciaz and 6,000 units of the Ertiga sold every month, almost 58 percent and 57 percent sales come from the SHVS variants, respectively.

Bharti Airtel has launched 4G services in Goa. Airtel subscribers in Goa can now upgrade to 4G services through immediate SIM swap and home delivery. 4G customers in Goa will now be able to experience superfast internet speeds and enjoy capabilities such as high definition video streaming with zero buffering. They will also be able to download 10 movies in less than 30 minutes, upload entire photo albums in less than five minutes and even connect multiple devices without compromising on the experience.