Author: CP

Indo Asian Fusegear corporate communications has told us that the company is foraying into power distribution business. It is setting up a new company Indo Asian Power Distribution and Infrastructure (IAPDIL) with an investment of Rs 25 crore.

Initially the company is planning to work on projects in north India including Uttrakhand, Uttar Pradesh, Rajasthan, Haryana, Punjab and Madhya Pradesh. The initial investment will be made through internal accruals of the company.

Indo Asian Fusegear is a manufacturer of electrical switchgear and lighting equipment.

Tata’s controlled, Indian Hotels [owners of Taj Brand] have bought stake in Orient Express. The acquisition was done through its wholly owned subsidiary Samsara Properties. The Indian Hotels management plans to discuss a global alliance with Orient-Express to leverage each other’s strengths. The company has started talks with Orient-Express for a partnership to expand its network globally, the reports suggested.

Orient Express currently owns or has investments in 49 businesses: 39 highly individual hotels, two restaurants, six tourist trains (including Venice Simplon-Orient-Express, British Pullman, and Eastern & Oriental Express) and two river cruise operations, located in 25 countries worldwide.

The board of Indian Hotels last month approved a plan to raise Rs 1,920 crore by selling securities to existing shareholders for funding new properties.

Nagarjuna Construction Company that it has bagged new orders totaling Rs 150 crore. Out of this, the major order comprises of a project for construction of IV phase bridges in Karnataka for Karnataka Road Development Corporation (KRDCL) valued at Rs 109 crore. Another order is for construction of water treatment plant for Ahmedabad Municipal Corporation, Ahmedabad valued at Rs 32 crore.

The current price of Rs 222.50 discounts Q1 June 2007 annualised EPS of Rs 6.91 by a PE multiple of 32.19.

Larsen & Toubro (L&T) has announced that the company has been awarded an order for methanol reformer package as a part of trombay methanol revamp project for Rashtriya Chemicals and Fertilizers (RCF), Chembur.

This project is of paramount importance to RCF in order to enhance overall energy efficiency, reliability and life of the methanol plant along with augmentation of capacity from present 180 TPD to 220 TPD of methanol product. The owner has retained Haldor Topsoe A/S of Denmark as the process licensor and Projects & Development India (PDIL) as the project consultant.

This order valued at Rs 77 crore comprises the detailed engineering, procurement, supply, transportation, storage, fabrication, inspection, construction, installation, testing, mechanical completion and assistance for pre-commissioning, commissioning and performance guarantee test runs for the said project.

The order was bagged by the company against stiff competition from internationally reputed reformer suppliers, on the strength of its track record in execution of similar projects meeting strict quality requirements and conforming to stringent delivery schedule.