Following are the key corporate announcements made during the week - April 9 - April 13:
Infosys cons Q4 net down 2.4% at Rs 23.16 bn (q-o-q)
India`s second largest software exporter, Infosys posted on the consolidated basis a net profit of Rs 23.16 billion for the quarter ended Mar. 31, 2012 as compared to Rs 18.18 billion for the quarter ended Mar. 31, 2011, representing increase of 27.39%. On quarter on quarter basis, it posted a fall of 2.4% in the net profit. Total revenues has increased from Rs 72.50 billion for the quarter ended Mar. 31, 2011 to Rs 88.52 billion for the quarter ended Mar. 31, 2012, representing increase of 22.10%. On quarter on quarter basis, it posted a decrease of 4.8% in the revenues.
Patni Computer Q1 profit drops 13.6%
Patni Computer Systems posted net profit of Rs 1.52 billion for the quarter ended March 31, 2012 as compared to Rs 1.76 billion for the quarter ended March 31, 2011, reflecting decrease of 13.64%. Total income was at Rs 5.47 billion for the quarter ended March 31, 2012 as against Rs 5.42 billion for the same period last year, representing an increase of 0.92%.
Ahluwalia Contracts bags orders worth Rs 8.05 bn
Ahluwalia Contracts (India) secured new orders aggregating to Rs 8.05 billion (approx) for construction of residential, institutional, hotel, retail & industrial building including electrical plumbing & firefighting services. The company secured new orders aggregating to Rs 4.04 billion for construction of residential building in major cities from leading developers. New orders aggregating to Rs 1.32 billion for construction of hotels, Rs 1 billion for construction of institutional building, Rs 0.38 billion for construction of industrial building, Rs 0.36 billion for construction of retail & Rs 0.31 billion for construction of infrastructures. Orders in services segment (electromechanical, plumbing & firefighting) worth Rs 0.63 billion are also bagged during the period.
PSL secures order worth Rs 5.7 bn from IOC
PSL announced on Wednesday that it bagged a prestigious order worth Rs 5.70 billion from Indian Oil Corporation. The scope of order includes manufacture of pipes and provisions of ancillary coating services towards the Salaya - Mathura Pipeline De-Bottlenecking Project. In accordance with this order, the company will be required to supply 28 - inch diameter coated steel pipes of X - 70 grade and upto 40 feet in length. These supplies will be made from company`s already geared up plants at Jaipur and Kandla.
Tecpro Systems bags orders worth Rs 3 bn
Tecpro Systems, an engineering procurement and construction (EPC) company announced that it received orders aggregating to Rs 3 billion from Abhijeet Projects and NTPC. For Abhijeet Projects, the design, engineering, procurement, manufacturing, supply of coal handling plant package worth Rs 1.55 billion for Phase-I of 2x660 MW Super Critical Thermal Power Project in Banka district of Bihar. For NTPC, the design, engineering, manufacturing, testing at shop, inspecting, packing, forwarding to part of dispatch and transportation of the ash handling system and ash water recirculation package worth Rs 1.42 billion for Solapur Super Thermal Power Project (2x660 MW).
McNally Bharat bags order worth Rs 1.39 bn from BHEL
McNally Bharat Engineering Company received an order from BHEL worth Rs 1.39 billion. The order is for civil, structural and architectural works and balance civil works for boiler auxiliaries foundation for R&M job of Barauni Thermal Power Station-extension project unit 8 & 9 Begusarai, Bihar.
Alstom T&D bags Rs 1.5 bn contract from Jaypee Group
Alstom T&D India been awarded a contract worth around Rs 1.5 billion by the Jaypee Group for the Thermal Power Project (3x660 MW) in the Uttar Pradesh State of India. Jaypee Group is a diversified infrastructure conglomerate and a presence in construction and engineering with interests in the power cement, hospitability, real estate and expressways.
McNally Bharat bags order Rs 1.5 bn from Bhushan Power & Steel
McNally Bharat Engineering Company announced Tuesday it received an order worth Rs 1.5 billion from Bhushan Power & Steel, Rengali, Sambalpur, Orissa. For supply of equipments (shop manufactured mechanical items) and technological structures, detail design, engineering (mechanical), erection and construction of civil, structural & mechanical work of the recovery coke oven plant & by product plant of Bhushan Power & Steel.
Sadbhav Engg bags order worth Rs 792.4 mn
Sadbhav Engineering announced on Monday that it been awarded order worth Rs 792.4 million by the chief construction engineer, Anandapur Barrage project, Salapada, Odisha. The scope of work includes excavation and cement concreting lining of baitarani left bank canal from RD 0.00km to RD 9.00km including construction of structures and service road.
ABB bags order worth Rs 750 mn
ABB won an order worth Rs 750 million from Delhi Metro Rail Corporation (DMRC) to provide power solutions for a planned metro rail network for Jaipur, also known as the `pink city` and the capital of Rajasthan, a state in northern India. The order was booked in the first quarter.
Alstom T&D India bags contract worth Rs 740 mn from Jyoti Structures
Alstom T&D India been received a contract worth approximately Rs 740 million from Jyoti Structures. The product package will supply the Jabalpur and Nellore 765kV substation projects for Power Grid Corporation of India (PGCIL), located respectively in the central states of Madhya Pradesh and Andhra Pradesh.
Man Infraconstruction bags order worth Rs 620 mn
Man Infraconstruction received a new order worth Rs 620 million for construction of civil works for residential/commercial tower, `Metropolis` from `Adani Estates` in Mumbai.
Elecon Engineering bags orders worth Rs 226 mn
Elecon Engineering Company announced Tuesday it received orders worth Rs 226 million in March. The orders are received from various clients for supply of material handling equipments and spares for their various projects.
Sree Sakthi Paper commissions Rs 300 mn project
Sree Sakthi Paper completed its expansion-cum-modernization project involving about Rs 300 million. The company`s board recorded the commissioning of boiler and turbine project at their meeting held on Mar. 30, 2012. As part of the expansion project, the Kochi-based company also commissioned a Krima-dispersing unit which help make speo-free paper, meeting the requitement of highend customers.
Subex bags multi-million dollar framework contract
Subex announced on Tuesday that it been awarded a renewal of a multi-million dollar framework contract with BT. The framework contract specifically covers the on-going provision by Subex of Mission Critical Revenue Opertations Centre (ROC) portfolio software solutions, application/operations support, and managed services. These will be delivered across BT`s Domestic & International Interconnect Billing & Settlements, Fraud Management, Revenue Assurance and Event Integrity domains.
Suzlon wins 16 MW order from UK-based Renerco
Suzlon Group-subsidiary REpower UK, signed a contract to supply turbines for Renerco`s Cotton Farm wind farm in Cambridgeshire, England. The cotton farm wind farm is the second contract REpower signed with Renerco in the past four months, and will see eight REpower MM92 machines installed. The MM92 turbines have a rated output of 2.05 MW each.
Glenmark Generics gets ANDA approval from US FDA
Glenmark Generics Inc USA, a subsidiary of Glenmark Generics, announced it secured final approval for abbreviated new drug application (ANDA) by the United States Food and Drug Administration (U.S. FDA) for Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg. Glenmark`s approved product is their generic version of Ortho Cyclen tablets by Janssen Pharmaceuticals, Inc. indicated for the prevention of pregnancy in women who elect to use oral contraceptives as a method of contraception.
Ind-Swift Labs gets USFDA approval for 5 APIs for Derabassi facility
Pharma major Ind-Swift Laboratories added another achievement into its credit by getting the USFDA approval for its five Active Pharmaceutical Ingredients (APIs) manufactured at its Derabassi manufacturing facility. With this approval the company entered in the league of big pharma majors having multi product approval for its facilities. The facilities of the company were inspected in mid 2011. The Derabassi manufacturing facility of Ind-Swift Laboratories Limited is one of the largest API manufacturing facilities in northern India.
Strides gets USFDA nod for Vancomycin Oral Capsules
Strides Arcolab announced Wednesday it received approval from US FDA for Vancomycin Oral Capsules ISP, 125mg and 250 mg. According to IMS health data Vancomycin Capsules had total U.S sales of USD 332 million for the twelve months ending Feb-12, with no prior generic approvals.
Somany Ceramics to acquire 26% stake in Commander Vitrified
Somany Ceramics announced that the company entered into a Memorandum of Understanding (MOU) with Commander Vitrified (CVPL) and its Promoters to acquire equity stake of 26% in CVPL at a total consideration of Rs 32.5 million with an option to further increase the same up to 51%. CVPL is at an advanced stage of setting up a new plant to manufacture about 2.65 million square meters of vitrified tiles (polished and glazed) per annum at Morbi (Gujarat). The plant is expected to commence production by the end of May 2012.
Marico to sell 4.56% stake to Indivest and Baring for Rs 5 bn
FMCG major Marico announced that it will sell 4.56% stake in the company to two foreign investors for up to Rs 5 billion to fund acquisition of the personal care business of Paras from Reckitt Benckiser. The company`s board on Friday approved the proposal to sell 3.42% stake to Indivest, an associate of Government of Singapore Investment Corporation and another 1.14% stake to Baring India Private Equity Fund III Listed Investments, is seeking shareholders` nod for the same.
MT Educare closes 12.9% higher on debut
MT Educare, a coaching services providers in Maharashtra, which got listed Thursday, settled at Rs 90.35, a premium of 12.93% against the issue price of Rs 80 a share.
It opened at Rs 86.05, a premium of 7.56% against its issue price. The scrip hit a high of Rs 90.35 and low of Rs 86.05. A total of 1,600,133 shares changed hands on the BSE.
NBCC settles 8.4% lower on debut
National Building Construction Corporation (NBCC), a public sector company, which got listed on Thursday, settled at Rs 97.05, a discount of 8.44% against the issue price of Rs 106 a share. It opened at Rs 100, a discount of 5.66% against its issue price. The scrip hit a high of Rs 101 and low of Rs 95.05. A total of 1,211,946 shares changed hands on the BSE.
Omkar Speciality inks pact with LASA Lab
Omkar Speciality Chemicals announced that the company forayed into pharmaceutical business with its recent acquisition of LASA Laboratory located at Mahad in Raigad district, which been an established player in the anthelmintic/ veterinary API segment with state-of-the--art API manufacturing facility. The above acquisition will enable the company to focus on manufacturing anthelmintics, such as Albendazol EP, Albendazole IP/USP, cyromazine, Fenbendazole, BP VET/EP, Nitroxnil BP Vet, Ricobendazole, Toldimphos Sodium and Triclabendazole.
TTK Prestige inks biz pact with Switzerland firm
TTK Prestige announced the signing a business collaboration arrangement with Vestergaard Frandsen, Switzerland. This agreement envisages introduction of household water purification devices in India with the support of LifeStraw technology provided by Vestergaard Frandsen. The products will carry the brands of both the partners and will be manufactured / assembled, marketed and distributed through the company.
Godrej Properties inks pact to redevelop MHADA property in Byculla
Godrej Properties (GPL) through its wholly owned subsidiary Godrej Projects Development (GPDPL), entered into a development management agreement with R.R. Builders to redevelop a MHADA property in Byculla, Mumbai. GPDPL will act as development manager and will be responsible for the conceptualization, design, sales, and marketing of the project in Byculla, Mumbai.
Force Motors, HPCL inks pact for supply of genuine oil
Force Motors, Pune based automotive manufacturer, announced that it entered into an agreement with Hindustan Petroleum Corporation (HPCL) for supply of genuine oil to be used in its entire range of automotive aggregates like the Engine, Gearbox, and Axles
BGR gets LoA for supply 2x660 MW boilers from NTPC
BGR Energy system received letter of award from NTPC for supply of 2x660 MW super - critical boilers to be set up Solapur in the state of Maharashtra. The order is valued at Euro 109.79 million plus component of Rs 11.21 billion. Te execution period of the contract is 48 months. The contract provides for price variation and foreign exchange variation risk is fully protected.
Idhasoft joins hands with Global Software
Prism Informatics announced on Monday that Idhasoft a global leader in strategic business solutions and an SAP gold channel partnered with Global Software, Inc. (GSI), the No. 1 provider of Microsoft Excel-based automation and analysis tools to the leading enterprise resource planning (ERP) platforms, to provide Spreadsheet Server to the Idhasoft ecosystem.
TD Power inks long-term license pact with Siemens AG
TD Power Systems (TDPS) signed a long-term license agreement with Siemens AG. Under this agreement, TOPS will receive from Siemens, the know-how for manufacture of industrial, air-cooled, 2-pole AC generators in the range of 74 MVA to 250 MVA in India. The new line of generators will be manufactured from the company`s facilities located at Dabaspet Industrial area on the outskirts of Bangalore, which are proposed to be enhanced to meet the standards and requirements for manufacture of advanced generators.
L&T commissions 40 MW solar PV power plant for RPower
L&T Construction, part of the Larsen & Toubro conglomerate commissioned solar photo voltaic based 40 MW power plant owned by Reliance Power at Dhursar Village, Jaisalmer district of Rajasthan. As the largest EPC player in solar power, L&T Construction executed the solar power plant from concept to commissioning in 129 days. With the commissioning of this plant, L&T Construction installed 114 MW of utility scale solar PV power plants over the last fiscal- benchmark in India`s EPC industry.
Cennergi selects Suzlon for 138 MW project in South Africa
Suzlon Group, the world`s fifth largest wind turbine manufacturer, been selected as the preferred supplier by Cennergi for a 138 MW wind energy project currently under development in South Africa. Cennergi is an equal joint venture between South Africa`s Exxaro Resources (Exxaro) and the Tata Power Company, India`s largest private power utility.