The Oil India Limited (OIL), a state-owned company, plans to invest Rs 25,000 crore in renewable energy to achieve net zero emissions by 2040.

Ranjit Rath, chairman and managing director of Oil India Ltd (OIL), on Thursday said that the company will invest in green hydrogen, solar, geothermal energy, 2G ethanol plant, compressed biogas plants, and carbon capture utilisation and storage (CCUS), along with initiatives to eliminate flaring.

Shares of ITI Ltd rallied 7 per cent on Thursday to hit the highest level in over 25 years on the BSE. The stock touched Rs 212.45, its highest level since February 1994 on heavy volumes.

The average trading volumes on the counter nearly doubled with a combined 31.2 million equity shares, representing 3.2 per cent of total equity, having changed hands on the NSE and BSE.

Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements.

The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL).

In the wake of the Nipah outbreak in this north Kerala district, a holiday has been declared for all educational institutions here on Thursday and Friday.

The holiday was declared by Kozhikode District Collector A Geetha who in a Facebook post said educational institutions can arrange online classes on the two days for students.

IndusInd Bank on Thursday announced the launch of a "virtual commercial card", a credit card that will redefine cross-border transactions for corporates and travel agents, the company said in a press release.

In partnership with Visa, the global leader in digital payments and Juspay, a payments operating system, the virtual card has additional layers of security that give users complete control over their international expenses, thus making it safe and hassle-free.

Grasim Industries will launch its paint business under the brand name Birla Opus in the fourth quarter of the current financial year (Q4FY24). In a release on Thursday, the flagship company of the Aditya Birla Group said that it will offer a "full suite of high-quality products in the decorative paint segment".

A research and development (R&D) facility has already been set up in Maharashtra. Moreover, it has piloted its painting services in key metro cities, the company said.

Pharmaceutical manufacturer Sun Pharma on Thursday announced that one of its wholly-owned subsidiaries has entered into a licenseing agreement with US-based Pharmazz Inc to introduce its drug Sovateltide in India.

Sun Pharma said in a filing that it had been granted rights for marketing Sovateltide in India under the brand name Tyvalzi. Pharmazz will be entitled to upfront and milestone payments, including royalties.

US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion in the last year, Commerce and Industry Minister Piyush Goyal said on Wednesday.

The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector.

Japan’s Sumitomo Realty & Development Company will buy a 22-acre land parcel in central Mumbai from Bombay Dyeing for Rs 5,200 crore, the Wadias-run company said on Wednesday.

The sale of the land parcel in Worli is one of the biggest land sale transactions in the history of the financial capital.

Ajay Kumar Agarwal, a former Adani Group contractor, has filed an application in the Supreme Court (SC) stating that he has worked with the conglomerate and has witnessed money transfers from one subsidiary to the other, The Economic Times (ET) reported on Wednesday. Agarwal has sought permission from the apex court to intervene in the investigations by the Securities and Exchange Board of India (Sebi).

Agarwal, a director of EBPL Ventures, was the electrical contractor for Adani's Sarguja Rail Corridor Project. He said he would like to help the court and Sebi protect investors' larger interest.

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