IndianOil bags Petrofed Innovator award

New Delhi

IndianOil has bagged the prestigious Petrofed Innovator of the year award for the successful development and commercialisation of Indane Nanocut — the Hitherm cutting grade LPG. KD Tripathi, Petroleum Secretary, presented the trophy to the team led by BP Das, EDI/c(R&D) in the presence of B Ashok, chairman, IndianOil and RK Malhotra, DG, Petrofed, here. TNS

New Delhi

Bank of Baroda profit plunges 60%

Shares of Bank of Baroda on Thursday fell sharply by 9%, wiping out Rs 3,306 crore from its market valuation, after the company reported a massive 60% plunge in standalone net profit for the first quarter ended June. Gross NPAs were 11.15% of gross advances as of June, up from 4.13% a year ago. PTI