Entries Tagged 'Indian-Stock-Markets' ↓

Power Grid Corporation has bagged the Rs 42 billion Maithon-Bokara mega transmission project as per the reports available from various news sources

Maithon-Bokaro is a generation link project and was to under go the international bidding procedure for awarding the project, but later the plan was dropped as the project needs to be up before the 2010 Commonwealth games.

Shares of the Power Grid Corporation gained Rs 2.3, or 1.57%  as on 2.10 pm on the BSE.

Larsen & Toubro is planning to raise 400 million US Dollars by way of Global Depository Receipts. The company Board has already authorised to raise 1 Billion US Dollars in the coming 6 months.

The GDR, which L&T is planning to raise is part of the fund raising program, and the company will raise the remaining amount as and when required for expansion plans.

L&T has not fixed the GDR price and plans to fix the date by November 15th. The company plans to list it on the Luxembourg exchange.

Majority of the funds raised would be for the investments they would be doing in a major shipbuilding factory and it has already initiated talks with Europe’s shipbuilder Ficantieri for a Joint Venture.

Larsen & Toubro Shares are last trading at Rs 4343.90,  down 2.61% on the BSE at 2.25 pm Monday.

Indian Rupee has extended its gains further to close at Rs. 39.32 against the US Dollar at the Interbank Foreign Exchange market on Wednesday.

Pound Sterling has gained on the Indian Rupee and closed at Rs. 81.50 per pound.

US Dollar’s against the Indian Rupee is based on the Foreign Capital inflows in to the Indian Stock Markets which are raising to new highs day after day.

Hindustan Unilever Limited has today informed the Exchange that the Directors of the Company, at their meeting held on October 31, 2007  have declared a Dividend of Rs 3 per equity share.

The company has announced this as a Platinum Jubilee Dividend to the shareholders of the Company at the rate of Rs.3/- (Rupees Three only) per share of Re.1/-, to commemorate the 75th year of the Company.

The company has also fixed the Record date of the Dividend as November 22, 2007.

Shares of Hindustan Unilever were last trading at Rs 206 down 6.13% on the NSE.

Patni Computer Systems has announced its third quarter numbers and the company has posted consolidated net profit of Rs 99.3 crore for the quarter ended September 2007.

The company’s consolidated net profit is down from the previous quarter’s consolidated net profit of Rs 147.9 crore. But the company’s net sales increased to Rs 675 crore and the Fourth Quarter Guidance is projected at USD 170 million.

Patni Computer Systems shares are last trading at Rs 420.25 down 2.02% on the BSE at 11.50 Am.

India’s top telecom operator , Bharti Airtel has announced its results and the consolidated net profit stood at Rs 1643.76 crore for the quarter ended September 30,2007.

The company’s consolidated net profit grew by 87.04% when compared to Rs 8,788.40 million in the corresponding quarter last year.

Bharti Airtel has reported better-then-expected growth in standalone net profit at Rs 16,191.50 million for the September 2007. Net Sales in the quarter stood at Rs 60,598.90 million up by 45% from the previous year quarter’s sales.
 
Bharti Airtel Stock is trading at Rs 1020.05 up 2.03% on the BSE at  11.45 Am

Horizon Battery Technologies in an annoucement made to the National Stock Exchange has informed that the Board has approved the Rights Issue.

Horizon Battery Technologies will raise funds up to Rs 60 crore by way issue of further equity shares in the form of Rights issue with or without warrant.

The Ratio and other details of the Rights issue of Horizon Battery Technologies is not yet announced by the company.