Corporate Highlights
Network 18 and Sun in tie-up
Network18 Group and Sun Network have come together to launch a pan-India distribution company to be a dominant player in the Rs 16,000-crore pay-TV subscription market.
Larsen & Toubro bags orders
The Electrical & Gulf Projects Operating Company, a part of Larsen & Toubro's construction division has secured a slew of orders aggregating Rs.1015 crore from Transmission & Distribution Projects in the international and domestic markets.
Suzlon receives 25.5 MW order from Hindustan Petroleum Corporation
Suzlon Energy (SEL) has won the second order from Hindustan Petroleum Corporation (HPCL) for a 25.5 megawatt (MW) capacity wind power project at the Akal site in the Jaisalmer district of the state of Rajasthan, India. The project comprises of 17 units of Suzlons S82 - 1.5 MW wind turbines and is scheduled for commissioning by Q3 FY 2010-11.
L&T gets Rs12,132 cr Hyderabad metro project
Larsen emerged as the lowest bidder, with a bid of Rs12,132 crore ($2.6 billion) to build and operate the Hyderabad metro project.
SRL set to acquire Piramal Diagnostics
Super Religare Laboratories Ltd (SRL) is set to buy the diagnostics services business of Piramal Healthcare Ltd for Rs500-550 crore.
RNRL, R-Power agree to merge
Reliance Natural Resources Ltd (RNRL), the gas trading arm of the Reliance-Anil Dhirubhai Ambani Group (R-Adag) will be merged with Reliance Power Ltd (R-Power), with shareholders of the former receiving one share of R-Power for every four shares of RNRL.
HSBC acquires RBS' retail business in India
Hong Kong and Shanghai Banking Corporation has agreed to acquire the Indian retail and commercial banking business of Royal Bank of Scotland for a premium of $95 million over the net asset value of the business. As on March 31, 2010, RBS' India businesses comprised gross assets of $1.8 billion and risk weighted assets of $1.1 billion.
Nokia Siemens buys Motorola network biz for $1.2 bn
Nokia Siemens Networks will buy Motorola’s telecom network equipment business for $1.2 billion, getting a stronghold in the North American market and taking No 2 position in the cut-throat mobile gear market. Nokia Siemens Networks a 50-50 joint venture of Nokia and Siemens has struggled to make a profit in the $82 billion market, which was hit hard by the recession.
Ramky Infra bags Rs 1,052-cr orders
Ramky Infrastructure Ltd has bagged eight projects in different States whose combined project outlay is Rs 1,052 crore, including a Rs 864-crore project in Uttar Pradesh awarded by Construction and Design Service Nigam for development of Manyawar Sri Kanshiramji University of Agriculture and Technology.
Midhani gets Rs 32-cr DAE order
Defence sector undertaking Midhani has bagged a Rs 31.5-crore order for supply of 900 end fitting forgings required for the 700 MW PHWR (Pressurised Heavy Water Reactors) being set up by the Nuclear Power Corporation of India Ltd (NPCIL).
Pratibha Industries secures an annuity project from National Highways Authority of India
Pratibha Industries has secured an annuity project from National Highways Authority of India (NHAI). Total annuities receivable from NHAI is Rs. 336.70 crore. The project is in joint venture with Abhyudaya Housing and construction.
Hindustan Dorr-Oliver's subsidiary bags order
Davy Markham, subsidiary of Hindustan Dorr-Oliver has bagged a prestigious order from Hudson Bay Mining Inc (HBMI), Canada worth 8.3 million for supply of mining hoists to their new Copper Zinc Mine at Manitoba, Canada.
Punj Lloyd and partner bag $463 mn Abu Dhabi gas deal
Abu Dhabi Gas Development Company has signed four engineering, procurement, construction and commissioning (EPC) contracts worth $3,607 million with international companies including India's Punj Lloyd. Punj Lloyd, in a joint venture with Spain's Tecnicas Reunidas, has bagged a $463 million Gas Gathering Package contract, as part of a programme to develop the Shah sour gas reservoir.
NTPC to pursue coal mine acquisition in Australia, Indonesia
NTPC, the country's largest power producer, has set the ball rolling to acquire coal mines or form joint ventures (JVs) in Australia, Indonesia, Mozambique and South Africa. The state-owned company will soon deploy special teams to pursue its plans in Australia and Indonesia.
GEI bags two orders worth Rs. 64 crore
GEI Industrial Systems has bagged two orders from the Power Sector for the supply of air cooled steam condensers worth Rs. 64 crore. The orders are for Power Plants being set-up by Ind - Barath Thermal Power at Tuticorin in Tamilnadu and Shree Renuka Sugars for captive power plant at Gandhidham in Gujarat.
Vardhman Textiles' board appoves scheme of arrangement
The board of Vardhman Textiles in its meeting on 17 July 2010 has approved the scheme of arrangement and demerger between Vardhman Textile, Vardhman Special Steels and their respective shareholders and creditors.
MAG India bags order for 5 MW solar unit
MAG India Industrial Automation Systems, part of MAG Europe, has announced it has bagged an order for 5 MW of solar power plant from GS Power, planned at Bagalkot in Karnataka, to be developed on a turnkey basis.
Lanco Infratech bags order from Mahagenco
Lanco Infratech has bagged a contract from Maharashtra State Power Generation (Mahagenco) for Balance of Plant (BOP) package for three new units of 660 MW each being set up for Mahagenco's Koradi Thermal power Plant near Nagpur.
