Reliance Industries (RIL) said on Tuesday, 26 January 2008 it had discovered more gas in an exploration block off India's east coast. The firm has discovered gas in a new well in its NEC-25 block in the Mahanadi basin off the coast of Orissa. This is the company's eight discovery in the block.

Power Grid Corp of India will replace Bajaj Auto in the S&P; CNX Nifty index from 14 March 2008, a statement from an NSE joint venture company said late on Tuesday, 26 February 2008.

Tata Motors and Ford reportedly plan to sign a memorandum of understanding possibly on 5 March 2008 for Tata Motors' possible acquisition of Ford's luxury British brands, Jaguar and Land Rover. The complete sale of Jaguar-Land Rover to Tatas will take 6-8 weeks.

Allcargo Global Logistics and Container Corp of India have formed a joint venture to set up a depot in the northern state of Uttar Pradesh. The venture is expected to commence operations by January 2009.

IDBI reportedly plans to raise funds through mix of a rights and follow-on public offer in the next financial year.

The board of Ispat Industries at a meeting held on 26 February 2008 approved issuing preferential warrants to promoters.

The board of Jindal Saw at a meeting held on 26 February 2008 approved issuing 26 lakh warrants to Anbeeco Investments, Cyprus, a group company, on preferential basis. Further, the board also approved to allot 27.3 lakh, 9.5% unsecured compulsorily convertible debentures (CCDs). Each CCD is convertible into one equity share of Rs 10 each at a price not less than Rs 819 per share.

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