Corporate News Headline
• Tata Motors has sold 20% stake in Telcon, its construction equipment joint venture with Japan's Hitachi, to its partner for Rs. 11.59 bn. Post the transaction, Tata Motors will own 40% in Telcon, while Hitachi will have 60%, the company said in a statement. (BS)
• Larsen & Toubro has bagged orders worth Rs. 11.26 bn for various construction related works. The company has secured these orders from various vendors, including Sterlite Industries India and Tata Steel, L&T said in a filing to the BSE. (BS)
• Cairn India can produce up to 2,40,000 barrels per day from its prolific Rajasthan fields, equivalent to output from the nation's largest oilfield of Mumbai High, the company has informed the government. (BS)