Domestic brokerage house, SMC Group, had entered into joint venture agreements (JV) with Sanlam Investments to offer wealth and asset management services.

Indian Oil Corporation (IOC) announced that it has decided to raise the capacity of its Mathura refinery to 11 million tonnes from the present eight million tonnes and was looking forward to early clearance at the Central government level.

While addressing reports, Mr. B N Bankapur, director of  Indian Oil Corporation remarked, “We have approached the Ministry of Environment and Forest for clearance to expand our Mathura refinery."

According to the sources, the addition in Mathura refinery has been hanging fire with the Ministry of Environment and Forest for authorization as fears have been expressed about the impact the project might have on the 17th-century monument Taj Mahal.

The Sahara group would no longer hold NBFC license. The license was held by Sahara India Investment Corporation (SIIC). SIIC is a flagship company of Sahara India Financial Corporation and acts as a residuary non-banking finance company (RNBC).

According to the RBI report, SIIC has voluntarily decided to exit the NBFC (non-banking finance company) business from now onward. The company is likely to shift its focus toward reality business.

The Sahara Corporation is completely revising its real estate business. There must be some cross-holding issues between Sahara India Investment and Sahara India Financial Corporation but the executive of the company did not disclose the detail.

The price of dollar is increasing day by day. It brings good news for the software and outsourcing companies of the country. The value of Indian rupee is depreciating, and dollar is increasing as compared to the currencies of leading economies of the world.

Raj Television Network has clarified that at present the company does not have any proposal to foray into print media business. However, the company may look at the proposal in the long-term.

Taj Hotels Resorts and Palaces, operated by Indian Hotels Company Ltd. (IHCL), has launched a new brand, ‘The Gateway Hotel’ to target an emerging guest profile.