stock news

Shree Renuka Sugars is looking to set up an
integrated sugar-cum-ethanol plant with oil
marketing company HPCL in Maharashtra.
This would be the first such tie-up between a
sugar and a petroleum company. Renuka will
hold 76 per cent in the joint venture, while
state-owned HPCL will have the rest.

Shareholders of Anil Dhirubhai Ambani Group
- promoted Reliance Power and Reliance
Natural Resources have approved merger of the
two companies.

The world’s largest steel-maker, ArcelorMittal,
is in talks with financial services and
infrastructure major Indiabulls for setting up a
mining joint venture in India.

Reliance Industries, which has struck three
shale gas joint ventures with US firms this year,
may make a full buyout next, as the cash-rich
firm builds the knowledge it needs to run such
operations.

The Asian Development Bank (ADB) wants to
exit Petronet LNG Ltd and has offered to sell its
5.2 per cent stake in the country’s largest
liquefied natural gas importer to oil firms
Indian Oil Corp, Oil and Natural Gas Corp,
GAIL India and Bharat Petroleum Corp.