Money printing already helping recovery, says Draghi

Bond-buying by ECB will reinforce the euro zone's economic recovery, says Mario Draghi

European Central Bank President Mario Draghi said he’s confident that his bond-buying program will hit its targets in the first month of operation, according to a media report.

Bond-buying by ECB will reinforce the euro zone's economic recovery, Draghi told Italian lawmakers in Rome on Thursday.

The central bank started a quantitative-easing program this month that aims to buy 1.1 trillion euros of public-sector bonds by September 2016. The monthly target includes programs of asset-backed securities and covered bonds.

The ECB said on Monday that it had settled public-sector purchases of 26.3 billion euros as of March 20 

Infosys hikes offshore employees salary by 6.5%: Report

Infosys has reportedly raised its offshore employees salary by an average pay of around 6.5 per cent this year, while high performers could get as much as nine per cent. The range of salary revisions offered indicates the revision in the sector would be in the same range this year as last year. For onshore employees, who are located outside India, the average hike this year is around two per cent.

Last year, the company had given a rise of between six and seven per cent for offshore employees and between one and two per cent for onshore ones.

Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.

IRB Infra to raise Rs 440 crore via QIP

IRB Infrastructure Developers is planning to raise Rs 440 crore through an issue of shares to institutional investors. The shares would be allotted at a price of Rs 230.54 apiece. The company undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

The company had earlier said it has tied up finances of Rs 1,756 crore to fund a project with a total cost of Rs 3,177 crore.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

L&T Construction wins orders worth Rs 1,711 crore

Larsen & Toubro’s (L&T) construction arm has won orders worth Rs 1,711 crore across various business segments in March 2015. Under Buildings & Factories Business, it has secured orders worth Rs 880 crore including add-ons. A major order has been received from a reputed private developer for the construction of a residential building in Mumbai. The scope involves civil, structural, architectural finishes and mechanical, electrical and plumbing works. Another EPC order was received from a private cement producer for their Greenfield cement grinding unit in Madhya Pradesh. The scope involves civil, structural, fabrication and erection.

Under Power Transmission & Distribution Business, it has secured orders worth Rs 676 crore. An EPC order has been received from the Bihar State Power Transmission Company for the supply, installation, testing and commissioning of 220 kV double circuit transmission line works associated with optical ground wire and communication system in Bihar.

The orders were also received from Power Grid Corporation of India for turnkey construction of 220kV multi-circuit and double-circuit transmission lines in Jammu and Kashmir and 765 kV double-circuit transmission line associated with inter regional system strengthening scheme in Uttar Pradesh. Further, additional order worth Rs 155 crore has been won by L&T Construction’s Water & Renewable Energy Business.

Cadila Healthcare gains on acquiring 50% shares of Zydus BSV Pharma

Cadila Healthcare is currently trading at Rs. 1696.40, up by 35.15 points or 2.12% from its previous closing of Rs. 1661.25 on the BSE. The scrip opened at Rs. 1686.65 and has touched a high and low of Rs. 1706.85 and Rs. 1686.65 respectively. So far 1,943 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1760.00 on 11-Nov-2014 and a 52 week low of Rs. 872.55 on 19-May-2014. Last one week high and low of the scrip stood at Rs. 1714.70 and Rs. 1585.00 respectively. The current market cap of the company is Rs. 34,795.00 crore. The promoters holding in the company stood at 74.79% while Institutions and Non-Institutions held 14.65% and 10.56% respectively. Cadila Healthcare has purchased 50% shares of Zydus BSV Pharma from Bharat Serums and Vaccines and now Zydus BSV has become 100% subsidiary of Cadila Healthcare. Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies. It is the only Indian pharma company to launch its own patented NCE - Lipaglyn, the world’s first drug to be approved for the treatment of diabetic dyslipidemia.

Power Grid moves up on getting nod for four investment proposals worth Rs 2066.45 crore

Power Grid Corporation of India is currently trading at Rs. 145.20, up by 0.15 points or 0.10% from its previous closing of Rs. 145.05 on the BSE.

The scrip opened at Rs. 147.20 and has touched a high and low of Rs. 147.20 and Rs. 143.45 respectively. So far 14825 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 159.00 on 28-Feb-2015 and a 52 week low of Rs. 102.00 on 07-May-2014.

Last one week high and low of the scrip stood at Rs. 151.70 and Rs. 144.40 respectively. The current market cap of the company is Rs. 75884.21 crore.

The promoters holding in the company stood at 57.90% while Institutions and Non-Institutions held 35.32% and 6.79% respectively.

Power Grid Corporation of India (PGCIL)