Global energy major ExxonMobil and state-run Oil and Natural Gas Corporation (ONGC) have tied up for oil exploration in India. The two companies will jointly bid for the upcoming Open Acreage Licensing Policy rounds.

The two oil majors signed a memorandum of understanding (MoU) on Tuesday. This will enable them to to “undertake joint technical studies and cooperate in frontier areas like deepwater and other Petroleum Exploration Licence (PEL) blocks of ONGC in the East and West coast and open acreages for joint bidding”.

Tata Sons, the Indian conglomerate that owns Jaguar Land Rover, said it is open to finding partners for the automaker but isn’t planning on selling the embattled unit.

“We’re not going to sell,” said Natarajan Chandrasekaran, chairman of Tata Sons, the holding company in an expansive business empire that includes Tata Motors Ltd. “Auto is a core business for us. From revenue terms, auto is our largest company.”

Terming TRAI’s review of call connect charges “retrograde”, Reliance Jio has said the regulator’s consultation paper is neither warranted nor sustainable and that retention of such charges will harm subscribers and punish efficient operators. Jio alleged that any deferment of sunset clause for inter-operator termination charges will end up rewarding “designed defaulters” who have deliberately stayed away from new and efficient technologies.

The Modi government’s plan to privatise BPCL hasn’t received an enthusiastic response from prospective buyers. News reports suggest that Mukesh Ambani-led Reliance Industries is unlikely to bid for India’s second largest fuel retailer. Apart from the UK-based BP that gave a measured response to the sale offer, no international oil company has expressed interest in buying BPCL after a group of secretaries approved the sale of the government’s 53.29 per cent stake last month.

Air India on Tuesday became the first airline in the world to use a Taxibot on a A320 aircraft with passengers onboard.

Taxibot is a robot-used aircraft tractor for taxiing an aircraft from parking bay to runway and vice versa.

Coal India subsidiary Central Coalfields has taken charge of the Bermo mines in Jharkhand from Damodar Valley Corporation. The captive mine has remained idle for over two years on account of a lack of mining expertise, resources, and absence of clearances and other technicalities.

DVC had taken over the mine from Indian Railways in 1951 for its captive use for its Bokaro and Chandrapura units.

New Delhi: State Bank of India on Monday re-entered the elite club of top-10 most valued domestic firms by market valuation after a gap of two weeks.

The bank had on October 1 lost its spot to Bajaj Finance in the coveted club of top-10 most valued domestic companies.

Indian stock markets may stay steady following global peers but domestic macro-economic data may weigh on sentiment on Tuesday. Asian stocks and Wall Street futures inched higher as some investors held out hope that Britain still had a chance to avoid a messy exit from the European Union at key negotiations this week.

Prime Minister Narendra Modi on Tuesday highlighted the progress made by the government’s flagship Ayushman Bharat programme under which 50 lakh beneficiaries have been treated free of cost.

He described it as an “important milestone” towards a healthy India.

Shares of state-owned mini ratna Indian Railway Catering and Tourism Corporation (IRCTC) made a stellar debut on Monday with listing gains of 128%. The stock ended the day at `728, which is more than double its issue price of `320. At closing, the newly-listed company’s market capitalisation stood at `11,658 crore, which makes it more valuable than other leading listed financial companies. This is the best listing in two calendar years, even as five other companies have clocked listing gains over 100%, including Avenue Supermarts, which had jumped 114% on the listing day.

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