Briefly Business: Probe panel seeks more details from Walmart

ONGC makes foray into urea production

NEW DELHI: ONGC has entered into an MoU with Chambal Fertilisers & Chemicals and the Tripura government to foray into urea production. ENS

HC to hear plea of MSD on Apr 12

NEW Delhi: The Delhi High Court on Wednesday posted for April 12 an appeal filed by US pharmaceuticals major Merck Sharp and Dohme (MSD) against the single judge bench order refusing to restrain Indian firm Glenmark from manufacturing and selling anti-diabetes drugs Zita and Zita-Met. PTI

I-T searches on two firms for diversion

MUMBAI: I-T sleuths searched the premises of UFO Movies and Valuable Group for alleged misappropriation of $2 billion to be invested in the Mumbai Economic Development Zone. PTI

Bajaj launches Ninja 300 at R3.5 lakh

NEW Delhi: Bajaj Auto Ltd on Wednesday said it has launched a premium motorcycle Ninja 300 from its partner Kawasaki,priced at Rs 3.50 lakh (ex-showroom Delhi). The company said it will phase out the Ninja 250R model soon. PTI

Etihads Jet stake buy delayed until Aug

ABU DHABI: Etihad Airways purchase of a stake in Jet Airways could be delayed until at least August as the Abu Dhabi carrier seeks assurances following setbacks for several Gulf investors in India,two sources familiar with the talks said. REUTERS

Lender sells promoters 8.44% stake in UB Group firm MCFL

NEW DELHI: Mangalore Chemicals and Fertilizers (MCFL) on Wednesday said about 8.44 per cent of the stake belonging to its promoter firm United Breweries Holdings has been sold by a lender to Kingfisher Airlines.

The airlines lenders recently decided to begin the process of recovering their loans through sale of securities pledged with them amid huge accumulated losses and soaring debt levels of Kingfisher airline that is grounded since October 2012.

MCFL,however,did not reveal the name of the lender who sold the shares on April 1. PTI