Corporate Highlights
- Larsen & Toubro has received an order valued over Rs 2000 crore from GMR Energy Limited, aGMR Group company for setting up a 2x384 MW gas based power plant at Vemagiri, AndhraPradesh on a lumpsum turnkey basis. L&T's scope includes design, detailed engineering, supply,installation and commissioning of the plant on a turnkey basis.
- State-run NTPC, India's biggest power producer, today signed a pact with Mukesh Ambani-led Reliance Industries to buy a part of natural gas allocated to it from K-G D6 fields at a rate of USD 4.2 per mmBtu.
- Jet Airways shareholders okays fund raising up to $ 400 million
- Engineers India says government is considering stake sale in company
- Domestic mining company Sesa Goa will raise $500 million (nearly Rs 2,400 crore) by offering foreign currency convertible bonds (FCCBs) for financing the company's growth plans.
- Anil Ambani group firm Reliance Communications (RCom) said its telecom tower subsidiary Reliance Infratel has filed the draft prospectus for its initial public offer with market regulator Securities and Exchange Board of India (Sebi).
- Balmer Lawrie & Co said it would set up a lube and grease manufacturing base in Indonesia in a joint venture with a local company. The total project cost is $5 million, of which $2.5 million would be equity. Total investment would be $1.25 million, The investment would be made through UKbased subsidiary, Balmer Lawrie (UK) Ltd which is currently not into any active business
