The Indian Space Research Organisation (Isro's) Polar Satellite Launch Vehicle PSLV-C23 today successfully lifted off from the first launch pad of Sriharikota space station, situated about 100 kms North of Chennai. Prime Minister Narendra Modi witnessed the launch at the Satish Dhawan Space Centre

The launch vehicle PSLV-C23, with a height of 44.4 metres and a vehicle lift-off mass of 230 tonne, is carrying SPOT-7, a 714 kg, French earth observing satellite as the main payload, which will be injected into a 655 km Sun Synchronous Orbit (SSO). Other satellites include 14 kg AISAT of Germany, NLS7.1 (CAN-X4) & NLS7.2 (CAN-X5) of Canada each weighing 15 kg and the 7 kg VELOX-1 of Singapore.

Oil and Natural Gas Corp (ONGC), on Friday, said it would invest over Rs.5,700 crore in re-development of its giant Mumbai High (North) oil and gas field off the west coast. The project will yield an incremental 6.997 million tonnes of crude oil and 5.253 billion cubic metres of gas by 2030, the company said in a statement here.

The 49-hour countdown for launch of ISRO’s PSLV-C23 carrying a French Earth observation satellite along with four others from Singapore, Canada and Germany on June 30, commenced at the spaceport of Sriharikota on Saturday.

“The 49-hour countdown of PSLV-C23 Mission started at 08:52 AM at Satish Dhawan Space Centre at Sriharikota,” ISRO said.

BSE Sensex and NSE Nifty are likely to trade range-bound as investors have turned cautious and will wait for clarity in the maiden Budget of the newly-elected Narendra Modi government, due on July 10.

The market will take a close look at the U.S. non-farm payroll data, due on July 3, which will direct the short-term trend in global equities.

Oil and Natural Gas Corp (ONGC) and its overseas arm, ONGC Videsh, are looking to raise money in the offshore bond market and may issue US dollar- and euro-denominated senior unsecured notes, sources confirmed to FE.

“The size of the issue and tenure isn’t decided yet. But the companies will go for road shows next week. They will hit Singapore, Hong Kong and London to meet investors,” the source added.

FMCG firms are jumping on to the e-commerce bandwagon to retail their products. While Marico is putting in place plans to retail niche brands through e-commerce, Dabur is broad-basing its offerings through the platform by including personal care products and beverages by the end of this year. At present, Dabur sells only healthcare brands online.

The Bombay High Court has directed four office-bearers of the Aviation Industry Employees’ Guild to resume duties by July 7, in a move that supports Air India’s drive against absenteeism.

The state-owned airline had this month asked 11 office-bearers across three trade unions to report for work immediately after withdrawing a ‘full-time release’ concession for discharging union responsibilities.

The Securities and Exchange Board of India (Sebi) has directed attachment of bank and demat securities accounts of a former director of Ranbaxy and his wife, to recover dues worth Rs 77.83 lakh from them in a matter related to insider trading in the shares of Orchid Chemicals & Pharmaceuticals.

Shares of information technology (IT) companies rose on Friday after US-listed Accenture reported good results for the quarter ended May. Investors lapped domestic IT stocks, as Accenture’s results signalled a robust demand environment and higher order flows for Indian IT firms, brokers said. On Friday, the BSE IT index rose 2.5 per cent, the gains led by Tech Mahindra, Tata Consultancy Services HCL Technologies, each rising three-four per cent.

The Reserve Bank of India has mandated banks to give data about wilful defaulters each month or more frequently to the credit information companies from the beginning of 2015. According to the new regulations, banks will have to furnish data on wilful defaulters of Rs 25 lakh and above for the quarter ended December 31, 2014, and of Rs 1 crore and above for the half year ended December 31, 2014, to credit information firms, and not to RBI.

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