L&T Construction secures Rs.6700 Cr.

The Railway strategic Business unit of  L&T construction's Transportation Infrastructure Business has won a major order worth Rs.6699.50 Cr from the Dedicated Freight Corridor Corporation of India Ltd.(DFCCIL). This prestigious order has been secured by a consortium of Larsen and Toubro Ltd and Sojit's corp., Japan.
  The track has been designed for 25 MT axle load to run double stack containers dedicated for freight.Around 1.5 lacs MT of rails will be imported from Japan for this project.
   The project has been planned to be executed using completely mechanized means of track linking using the latest technology in railway construction. The project is expected to be completed in four years.

 Larsen and Toubro is a USD 14 billion technology, engineering,construction, manufacturing and financial services conglomerate, with global operations. Its is ranked 4th in the global list of Green Companies in  the Industrial sector by the reputed international magazine Newsweek, and ranked the world's 9th Most Innovative Company by Forbes International.

PVR spurts on the plans of adding 90 screens this year.

PVR, multiplex chain operator is eyeing to add about 90 screens this year entailing an investment of Rs.250    crore, which will take its total screen count to over 450. The company had announced  acquistion of cinemax  earlier this year, plans to rebrand some of cinemax theatres in a phased manner.

     PVR is looking for locations in Mumbai,Bangalore for expansion of its luxury offering 'DC'. Though currently it is very small at  Rs. 25 crore in  business. PVR believes it has potential to become a 200 crore brand in three years.
     DC (Director's cut is a high-end format with theaters, Restaurant,books,merchandise.The cinemax screen is  independent and rare films along with mainstream movies.
The scrip opened at Rs.328 and is up by 1.32%with its previous close Rs.324.90.

NMDC Signs Memorandum of Understanding for Mineral Projects in Zimbabwe

             NMDC Signed the Memorandum of Understanding with MOSI OA TUNYA DEVELOPMENT COMPANY of Zimbabwe under the administrative control of Ministry of Tourism and Hospitality Industry, Government of Zimbabwe.

             NMDC plans to develop mineral assets overseas to secure raw materials for the steel industry. The designated organization of the Ministry of Tourism and Hospitality Industry, Government of Zimbabwe has invited NMDC as a strategic partner to invest in the exploration and development of the iron, ore, coal, Gold and chrome tenements. This MoU will provide exclusivity to NMDC for participation in mineral projects at Zimbabwe.

NMDC trading at Rs.116.35 up by (0.51%) with its previous closing  Rs.115.80

 

Indiabulls power Gains on commencing commercial operation.

Indiabulls Power's 1st unit of its 1350 MW Phase 1 thermal power plant at Amravati, Maharashtra had commenced its commercial operation and has started  supply of power under long term power purchase agreement to Maharashtra State Electricity Distribution company.
        The promoters holding in the company stood at 60.79%, while institutions and non-institutions held at 20.34% and 18.36% respectively.

The scrip is trading at Rs.8.05, up by 4.51% from its previous closing of Rs.7.75, the scrip gave a high of Rs.8.15 and a low of Rs.8.00.

Rupee hits all time low...Breaches 57.37/$

 Rupee hits its all time low of 57.37/$, after opening at 57.20/$ on monday,against friday's closing of  57.25/$.

Expecting RBI intervention to cool off the market by supplying dollars on higher rupee levels.
Analysts feel non farm-payroll data could further support dollar to remain strong.