Tina Ambani Birthday – Box office Flop for Reliance Power Investors

Feb-11th is the day when the first lady of ADAG group, Tina Munim Ambani celebrates her Birthday. Unfortunately, the day turned out to be a Valentine Mismatch for the ADAG group chairman Anil Ambani. His Dirty Energy IPO closed at Rs 373 a massive 17% discount to issue price after trading below Rs 445 for most of the day.

All the Anil Ambani group companies were hammered mercilessly adding to the blood bath on the street.

Reliance Energy Down 18.72%.
Reliance Communications Down 9%
Reliance Capital Down 11%
RNRL Down 17% (more…)

Consolidated Construction gets 242 crore Order

Consolidated Construction Consortium has received orders for Airport Terminal Building at Dehradun valued Rs 34.64 crore, Paediatric Hospital building at Bangalore valued Rs 16.00 crore, Auto components plant at Singur, WB valued Rs 6.27 crore, Five Star Hotel building at Chennai valued Rs 38.60 crore, Housing Project at Chennai valued Rs 100.00 crore, Factory building at Nalgonda, AP valued Rs 17.00 crore and Others valued Rs 29.51 crore during the month of January 2008.

Moser Baer plans 600 MW thin film PV capacity

Moser Baer India has informed us that its wholly owned subsidiary, PV Technologies India, has signed a memorandum of understanding (MoU) with a leading global equipment supplier to secure supply of critical equipment for a 565 MW phased expansion of its thin film photo voltaic modules manufacturing capacity, which together with the current project capacity of 40 MW will take the total manufacturing capacity to over 600 MW by 2010.

Thin film solar modules are ideal for energy farms, rural applications and building integrated photo voltaic markets. Photovoltaic modules based on large area thin film technology provide a path to cost parity between solar grid power. According to market estimates, the thin film based solar modules will see large emerging applications and a robust demand that, according to industry estimates is expected to grow ten fold; from 250 MW currently to 2GW with a market size of $5 billion by 2010.

Puravankara Projects – Lehman initiates coverage

Lehman Brothers equity research has initiated coverage on Puravankara Projects with an OVERWEIGHT rating. Puravankara Projects Ltd (PPRO) is a high-quality real estate group exposed to the rapid economic growth of South Indian cities such as Bangalore,Chennai, and Kochi.

Puravankara has a high-quality landbank of 107m sq ft, and most of it is close to the economic hubs of cities. Average cost of acquisition is only INR 97 psf. (more…)

Simplex Castings receives Railways Order

Simplex Castings has bagged an order worth one hundred and forty million rupee from Ministry of railway, Governemnt of India for supply of coco bogies (chasis for electrical locomotive, WDG-4). Also orders worth more than one thousand two hundred million rupees are in hand which includes export orders worth three hundred million rupees from the company’s valued clients like Indu steel – France, Arcellor – Spain, Ingersoll Rand – Italy, Sandwik Asia – Pune, Al – Nasar Company for coke & chemicals – Egypt, Hyundai Corporation – Korea. The company is in a position to meet the rising demand of its customers who are fully satisfied with its quality.

Due to growing demand & consumption of the company’s products, there are lots of growing prospect for the company and in current year the company expects better result in comparision to the last year.