COMPANIES

• MTNL plans investment in cellular companies
• BFL changes name and spins off division
• BHEL to set up b2b portal
• Deepak group acquires ammonium nitrite business
• Nath Biotech merges with seeds arm
• HLL pipped to the post in the read-to-eat foods market

GENERAL

• Banks take lead from RBI, cut rates
• Income tax issues FIIs' notices on misuse of Mauritius tax treaty

PEOPLE

• Murthy, Analjit and Raju to be on the board of Indian School of Business
• Ajay Jadeja to be Konica's brand ambassador