State-owned Indian Oil Corporation (IOC) on Monday said it has signed up an investment pact for adding petrochemical and lube plants to its previously announced plan to expand crude oil processing capacity at its Koyali refinery at Vadodara in Gujarat.

Expanding refining capacity by 4.3 million tonnes per annum to 18 million tonnes and adding plants to produce 500,000 tonnes per annum of polypropylene and 2,35,000 tonnes of lube oil base stock at the site would see total investment of about Rs 24,000 crore.

US pharma major Pfizer said on Monday that it was helping to create around 400 oxygen-supported beds in Delhi and equipping a 30-bed ICU facility in Mumbai.

Besides this, the company is sponsoring essential Covid medicines valued at Rs 510 crore for government hospitals in India.

India’s Paytm is asking employees to decide whether they want to sell shares in the digital payments pioneer’s planned initial public offering, taking another step toward what could be the country’s largest stock market debut ever.

The startup, formally called One97 Communications Ltd., sent the “offer for sale” to its staff Monday as it prepares to file for the IPO, according to documents reviewed by Bloomberg News.

Maharashtra Chief Minister Uddhav Thackeray will meet Prime Minister Narendra Modi on Tuesday (June 8) in the national capital. The chief minister will discuss the Maratha reservation issue with the Prime Minister. CM Thackeray arrived in Delhi in the morning and will meet the PM at 11 am.

A report in news agency ANI stated that CM Thackeray had last month written to PM Modi to take steps to declare the Maratha community in the state as Socially and Educationally Backward (SEBC) to enable them to claim the reservation in education and public employment at least to 12 per cent and 13 per cent, respectively.

Union Parliamentary Affairs Minister Pralhad Joshi on Sunday asserted that there was no proposal before the ruling BJP's high command to seek Karnataka Chief Minister B.S. Yediyurappa's resignation.

There is no proposal before the high command for seeking Yediyurappa's resignation, Joshi told reporters at Hubballi in the state's northwest region hours after the Chief Minister said that he was ready to resign if the party's leadership wanted him to do so.

Hitendra Dave will be the Chief Executive Officer (CEO) of HSBC’s India operation, said the international banking and financial services company on Monday.

Dave’s appointment is subject to regulatory approval and until then he will work as interim CEO effective 7 June. Dave succeeds Surendra Rosha who, after three years, is moving to Hong Kong as the Co-Chief Executive of HSBC, Asia-Pacific.

With the unlocking process initiated in the national capital, Delhi Chief Minister Arvind Kejriwal on Monday warned against laxity and urged people to take all precautions to prevent COVID-19 infection.

He pointed out that this was necessary to bring the economy back on track.

At least 30 people were killed and 50 others injured after two passenger trains collided on Monday in Pakistan's Sindh province, authorities said.

The accident took place near Dharki city in Ghotki district, reports Dawn news.

India on Monday logged 1,00,636 new Covid infections in 24 hours, 13,824 cases less than Sunday. This is also the lowest spike since April 5 when the country saw a rise of 96,982 cases in a day. During the same time span, 2,427 more people succumbed to the pandemic, the Union Health and Family Welfare Ministry said.

On Sunday (June 6), India had reported 1,14,460 cases, lowest spike since April 6.

Shares of TVS Motor Company were up 6 per cent at Rs 662.85 on the National Stock Exchange (NSE) in intra-day trade on Monday after more than a five per cent stake of the two-wheeler (2-Ws) company changed hands via a block deal. The stock was trading close to its 52-week high level of Rs 666 touched on May 27, 2021.

Around 24.4 million shares, representing 5.13 per cent of the total equity of TVS Motor Company, worth Rs 1,506 crore changed hands via block deal on the NSE, the exchange data shows. The block deal was executed at a price of Rs 617.25 per share, data shows.

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