TOP CORPORATE NEWS

·        Axis, Union Bank among 5 new entrants to UK banking space

Two banks from India Axis Bank and Union Bank are among the five new entities authorized to do banking business in the UK during the last fiscal, as per latest statistics released by the British regulators.

·        ONGC drops on buzz government may offload 5-10% stake

ONGC lost 4.11% on reports the government is planning to sell a 5 to 10% stake in state-run oil & gas exploration firm.

                                                                                                        

·        Cairn India drops along with crude oil price

Cairn India lost 1.89% as oil prices traded lower on reports that the militant insurgency hasn't spread to Iraq's south, the source of more than three-quarters of its oil output.

·        Siemens bags order worth Rs 52 crore from NTPC

Siemens has bagged an order worth Rs 52 crore from NTPC for supply of Distributed Control System to their power plant in Bihar.