Pipavav tanks 10%; m-cap erodes by Rs 563 crore

Mumbai
Shares of Pipavav Defence on Thursday tanked 10% to Rs 68.85 on the bourses after Reliance Infrastructure announced it will buy 18% stake from promoter group at Rs 63 per scrip. The market capitalisation (m-cap) declined by Rs 563.2 crore to Rs 5,068.78 crore. PTI

New Delhi
IndianOil awarded
IndianOil’s indigenously developed “catalyst for producing polypropylene using novel and low-cost precursors” was adjudged the winner of the 5th National Awards for Technology Innovation in Petrochemical & Downstream Plastics Processing Industry. The award was presented by the Union Minister for Chemicals & Fertilizers, Ananth Kumar, to the IndianOil team led by Debasis Sen, Director (P&BD). TNS

New Delhi
PowerGrid director felicitated
Ram Tirath Agarwal, Director (Finance), PowerGrid Corporation, has been felicitated with "CA-CFO — Power Sector Award" by the Institute of Chartered Accountants of India in the Power Sector Category for the year 2014. TNS

New Delhi
Panasonic Appliances India to get delisted from bourses
Panasonic Corporation will soon delist its arm Panasonic Appliances India from the stock market here after acquiring shares worth over Rs 61 crore from its existing shareholders. Panasonic’s delisting offer has been “successful”, according to a regulatory filing made by Panasonic Appliances. PTI

Chandigarh
CPI-IW for January up 1 point at 254
The Consumer Price Index for Industrial Workers (CPI-IW) for the month of January, 2015 rose by 1 point from 253 to 254. TNS