Briefly Business

ONGC FPO likely to hit market on March 15

New Delhi: The Rs 13,000 crore public offering of state-run Oil and Natural Gas Corp is likely to hit the market on March 15,a government official said. A tentative schedule has been drawn for the follow-on public offer,as per which the first road show will be held in Chennai on February 2 and the public offer will hit the market on March 15, the official said.

SC extends stay on Sterlite plant case

New Delhi: The Supreme Court on Monday extended the interim stay on a direction by the Madras High Court,ordering Sterlite Industries to close its copper smelting plant at Tuticorin in Tamil Nadu. 8220;Interim stay will continue till next date of hearing,8221; said the bench comprising Justices R V Raveendran and A K Patnaik. It came following a difference of opinion between Central Pollution Control Board and Tamil Nadu Pollution Control Board to the extent of pollution by Sterlite.

Airtel launches 3G service in India

Bangalore: Bharti Airtel on Monday launched its 3G service in India with rollout plans to cover 1,500-plus cities across the country by March next year. By March this year,the telecom operator said it would launch 3G service in 40-plus cities in 13 telecom circles.

Hero Honda executes pact with Honda

Mumbai: Paving the way for separation of its promoters the Hero Group and Honda Motor Hero Honda Motors on Monday said it has executed a final binding licencing agreement with the Japanese firm. In a filing to the BSE,Hero Honda said the agreement,which was signed last week,pertains to the existing and new products that it will offer in the Indian market once the Japanese firm exits the joint venture.