Category: Breaking Corporate India Earnings News

Ahluwalia Contracts India has bagged 3 prestigious contracts worth Rs 387 crore.

A project of Rs 229.7 crore from CPWD for Upgradation and Renovation of S P M swimming pool complex (talkatora stadium), New Delhi. The stadium would be venue for commonwealth games to be held in 2010. Recently company had also bagged the Rs 688 crore commonwealth games 2010 village residential project.

A project of Rs 111.6 crore order from Chalet Hotels for civil & structural work for hotel Renaissance at Powai, Mumbai.

A project of Rs 45.89 crore order from Phoenix Mills to build hotel in Mumbai. With inclusion of above orders, the total order book of the company currently stands at around Rs 3150 crore.

We have just received reports that Bharat Heavy Electricals Limited and the Nuclear Power Corporation of India Limited is likely to form a 50:50 JV for manufacturing nuclear reactors. As per report, the board of directors of BHEL and NPCIL has given consent for the proposed JV.

The new JV will produce reactors of 700 MW and 1,000 MW for nuclear power projects and the initial investment is estimated to be around INR 500 crore

Jindal Saw has received various orders aggregating to approximately US$ 250 million for supply of spiral pipes / longitudinal submerged arc welded (LSAW) pipes and seamless pipes.

The company has, inter received the prestigious order of (a) app. US$ 80 million from Saudi Aramco, Saudi Arabia for supply of spiral pipes which shall be supplied in 2008 (b) order of app. US $ 40 million from Iraq for supply of seamless pipes and order of more than US $ 95 million from Abu Dhabi Government-owned International Petroleum Investment Co (IPIC).

Abu Dhabi has awarded an order of aggregate value of US$ 460 million for pipe supply to the company, besides Japan’s Sumitomo and Germany’s Salzgitter for the balance portion. The company is the only Indian company which has been considered for and awarded this order. With these orders, the company’s present order book exceeds US$ 850 million. These orders are scheduled to be completed by January 2009

Nelcast has received letter of indent worth Rs 40 crore from European manufacturer for supply of components for heavy commercial vehicles. This order is on long term basis and the vompany needs to supply for next four years.

Meanwhile, the company has completed its phase I expansion plan at its new unit at Gudur. This expansion will result in increase of installed capacity from 1,02,000 tonnes to 1,26,000 tonnes per annum. This expansion will help the Company to cater to the growing demand from its existing customers including Ashok Leyland, Tata Motors, Tata Cummins, and Tafe in the field of Automotive and Tractor segments.

Sonata Software has announced that TUI InfoTec GmbH, Germany, a joint venture between Sonata Software, India and TUI AG, Germany has gained a new client (i.e. LYCOS Europe) outside of TUI group. From February 2008 LYCOS Europe, one of the continent’s leading providers of Internet portals and online advertising, will be using TUI InfoTec as its outsourcing partner for its office IT operations. Migration of the existing set-up to an MPLS network is due to begin this month.

As part of another contract TUI InfoTec has already been looking after LYCOS Europe local area and international WAN networks since 01 December 2007. TUI InfoTec successfully beat off several competitors in the selection process.

Anil Ambani has finally made it public about his IT Consulting ambitions. Fueled with synergies from RCom + Yipes, Anil Ambani has hand picked a team of 15 professionals to scale the IT business.

The company will operate in the domains of consultancy, infrastructure management, application development, management and domestic SME market.

With falling dollar and margins under heavy pressure, Sr executives at Infosys, TCS and Satyam are already looking towards Anil Ambani’s Tech Reliance to make their last Stock Options bounty. Hyderabad, Kolkata, Mumbai and Gurgaon IT centers will open for business within the next 6 weeks.