Dalal Street

Kaveri Telecom Products has acquired Til-Tek and DCI, two US companies during the last one year. Til-Tek is a leader in antennas and DCI in RF products and filters. The company has now acquired technology, intellectual property rights (IPR) and patents for base station antennas of erstwhile Sigma wireless, Ireland from PCTEL, Chicago, USA. With this acquisition, the company now has the capability to manufacture base station antennas incorporating the latest technologies on par with the best in the world. Both Indian and global customers would be addressed by the company in this area. This acquisition also gives the company access to customers and vendors of Sigma wireless in Europe. The acquisition also brings into the company’s fold seven international patents.

The company is poised for a 100% growth over last year and has already started building infrastructure in line with the projected growth over the next three years.

IVRCL Infrastructures & Projects has bagged lift irrigation works of the value of Rs 761.24 crore of handri niva sujala shravanthi (HNSS) project main canal for stage II of phase 1 in Kurnool and Anantapur Districts of Andhra Pradesh, on EPC turkey basis which includes investigation, design, manufacture, supply of pumps, motors and pressure mains at site of work including erection, commissioning and testing 8 numbers at each pumping station of hydro-mechanical, electro-mechanical and other accessories etc. complete equipment required and maintenance of 12 pumps at each pumping station and the system for 15 years, awarded by Government of Andhra Pradesh, irrigation & CAD department

Petron Engineering bagged a Rs 1.33-crore contract from Vedanta Alumina for installation of anode, grouping & cleaning system for its aluminium smelter project at Jharsuguda, Orissa. It had also secured a Rs 127-crore contract for supply of fired heaters for the Bina Refinery project being developed by Bharat Oman Refineries (a company promoted by Bharat Petroleum Corporation and Oman Oil Company).

Larsen & Toubro (L&T) minutes ago announced that Indian Oil Corporation (IOCL) has awarded to the company, a large project order comprising two trains of 300 tonnes per day sulphur recovery units (EPCC – 5) along with associated facilities such as amine regeneration unit sour water stripper & tail gas treatment unit for enhanced sulfur recovery up to 99.9%. This would enable IOCL in the production of low sulphur clean fuels to meet regulatory requirements. The order is valued at Rs 693 crore.

IOCL which operates one of its biggest refineries located at Koyali on the outskirts at Vadodara city in the State of Gujarat, India, intends to set up these sulphur recovery plants as part of their fuels Upgradation project and have awarded the order on EPC basis to the company. Toyo Engineering India has been retained by IOCL to provide services for project management consultancy (PMC) and Black & Veatch (USA) are the process licensors.

Here are some Trading Ideas for the day – Oct-9th

Triveni Engg – Trading in a falling channel.
Sell below 97
Stop Loss: 98
Target: 89.50 / 83 / lower

RNRL – Ambani is falling
Sell Below Rs 85
Stop Loss Rs 86
Target Rs 80.50 / 78 / Lower

Omaxe Ltd – Fails to recover
Sell Below Rs 312
Stop Loss Rs 314
Target 298 / 288 / Lower

Start booking partial profits on achieving first / second target.

Suzlon Energy has annouced that Suzlon Wind Energy Corporation, the US-based step-down wholly owned subsidiary of the company has signed a contract for a 400 MW of wind turbine capacity with Horizon Wind of Houston, Texas, one of the largest wind power developers in the United States and also owned by portuguese utility EDP (energias de portugal, S.A.), a leading renewable energy developer in the world. The contract calls for delivery of 200 MW of turbine capacity in 2008 and another 200 MW of capacity in 2009.