CCL Products reappoints Chalia Srishant as executive director

CCL Products (India) Ltd has said that it has re-appointed Chalia Srishant as the executive director of the company for a period of five years subject to the approval of the members at their general meeting.

On Thursday, CCL Products shares ended 1.33% up at Rs206 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.14% down at 17,730 points.

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BIG Street wins tender for Chandigarh Transport Undertaking

BIG Street, the out-of-home advertising arm of Reliance Broadcast Network, erstwhile Reliance Media World, has won a tender to advertise in 483 buses of the Chandigarh Transport Undertaking.

After executing a two-year tender (2008-10), the company has won the tender again for a period of two years until May 2012. The buses would take BIG Street's reach not only in Chandigarh, but also across Delhi, Jammu & Kashmir, Rajasthan, Himachal Pradesh, Punjab, Uttaranchal and Uttar Pradesh (West) touching over two million people every day.

On Thursday, Reliance Media World shares ended 1.08% down at Rs77 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.14% down at 17,730 points.

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Reliance Industries unit signs agreement with Pioneer Natural Resources to buy 45% interest in Eagle Ford Shale

Reliance Industries (RIL) said its subsidiary, Reliance Eagleford Upstream LP has signed definitive agreements to enter a joint venture with US-based Pioneer Natural Resources Company.

According to the agreement, Reliance will acquire a 45% interest in Pioneer's core Eagle Ford Shale acreage position in two separate transactions. Pioneer and Newpek LLC, Pioneer's current partner in Eagle Ford, will simultaneously convey 45% of their respective interests in Eagle Ford to Reliance Newpek.

Reliance Newpek currently owns around 16% non-operated interest in Pioneer’s core Eagle Ford Shale acreage. Following the transactions, Pioneer will own 46%, Reliance—45% and Newpek—9% of the joint venture interests, respectively.

Reliance will pay $1.315 billion for its implied share of 118,000 net acres.

On Thursday, Reliance Industries shares ended 0.69% down at Rs1,051 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.14% down at 17,730 points.

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