London, Aug 22: The Oil and Natural Gas Corporation has raced into a lead in the bid to buy Imperial Energy, the 1.2 billion pound London-based oil exploration and production company.

The Indian Government has given approval to the investment arm of the oil company, ONGC Videsh Ltd., to go ahead with the full bid.

The Indians have shrugged off challenges from China’s Sinopec and KNOC of Korea, and are now in a position to close the deal as early as next week, insiders said.

Pharmaceutical major Lupin has acquired a minority stake in Melbourne-headquartered Generic Health, for undisclosed amount.

Generic Health, markets a wide range of quality generic prescriptions and OTC products. The company has recently acquired Bellwether Pharma and has entered into a strategic alliance with Actavis.

Australia is one of the leading global markets with sales of over Australian $10 billion (including branded generics and OTC), and witnessing a rapid genericisation.

Anil Dhirubhai Ambani Group (ADAG) has decided to re-brand all its ventures in the entertainment industry under the "big" umbrella, to make Reliance Big Entertainment a success.

The group plans to rechristen its media and entertainment arm, Reliance Entertainment, which will now be called as ‘Reliance Big Entertainment’.

The company will begin with Adlabs multiplexes across the country, which will called 'Big Cinema' after modification.

Industrial and automotive battery maker Exide Industries Ltd. plans to spend Rs 300 crore on expansion of its production capacity, besides entering new overseas markets.

The company will invest Rs 300 crore this year, out of which Rs 150 crore would be invested in two of its plants in West Bengal, while the rest would be injected in Maharashtra and Tamil Nadu.

The company will fund the entire investment through internal accruals.

Northgate Technologies Limited, e-commerce and online advertisement solutions provider, has informed that its wholly-owned subsidiary named Axill Europe Ltd, has acquired Reuter's London (UK) based high end data centre infrastructure, for undisclosed amount.

The data centre with over 8000 sq feet area is located at a close proximity to company’s existing server farms in London which is the Global hub for all internet based services.

Maruti Suzuki, which surpassed parent Suzuki in annual sales last fiscal, is ready to emerge as an exclusive base for small cars, by playing a pivotal role in the Japanese auto major’s global plans.

Mr. S Nakanishi, Maruti Suzuki’s MD reported, “Quality and productivity have improved manifold in Maruti Suzuki in the last few years. Let us now channelise it to the next level, where we become the exclusive base to manufacture small cars for Europe.”