TOP CORPORATE NEWS

RIL to stop gas supply at 6 AM Tuesday if pact not signed

Oil ministry sources have indicated that Reliance wants higher gas price from fertilizer companies retrospectively and has also sought the difference between new price and USD 4.20 per mmBtu from April 1. Importantly today is the last day for fertiliser companies and RIL to renew their gas supply agreement. RIL will stop supplying gas at 6 AM tomorrow if the agreement is not signed.

·        RCom may partially exit foreign unit

In a bid to bring down its staggering debt of Rs 41,000 crore, Reliance Communications is looking to monetise its international unit Reliance Globalcom. It has brought a new CEO Bill Barney to find the right buyers for the firm.

·        L&T jumps on winning new orders

Larsen and Toubro is trading higher after L&T Construction has won new orders worth Rs 1,009 crore across various business segments in March 2014.

·        Airtel plans to extend outsourcing deal with IBM

Airtel is planning to extend its outsourcing deal with IBM for another five years. The deal is expected to be in the range of $550-600 million, making it the largest outsourced project by an Indian telecom company.

 

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