Category: Breaking Corporate India Earnings News

Bharat Heavy Electricals (Bhel) has won an large order for supply and installation of the steam generator and steam turbine packages at the upcoming Vallur Thermal Power Project at Ennore in Tamil Nadu. The orders for the greenfield power project have been placed by NTPC-Tamil Nadu Energy Company (NTEC).

Bhel’s scope of work involves design, engineering manufacture, supply, and erection and commissioning of steam generators, turbine generators, electrostatic precipitators and associated auxiliaries.

IVRCL Infrastructures & Projects announced that the company has been awarded irrigation works of an aggregate value of Rs 320.21 crore in Ajmer and Jodhpur districts, by the public health and engineering department, government of Rajasthan.

Mumbai-based construction firm Gammon India is reportedly entering the hospitality sector by forming an alliance with the US-based Wyndham Hotel Group International, Inc., to develop affordable or budget hotels. The Wyndham Group, which runs more than 6,500 hotels under 10 brands in six continents, is one of the largest hospitality companies in the world.

Gammon India is a Large Scale Infrastructure development company. Net profit of Gammon India rose 87.57% to Rs 28.53 crore on a 30.97% rise in sales to Rs 540.31 crore in Q1 June 2007 over Q1 June 2006.

Bangalore’s Realty Developer, Puravankara Projects had a weak debut on stock exchange listing at Rs 360, way below the revised offer price of Rs 400. Imagine what would have happened if the stocks were alloted at Rs 525. We thank our IPO Analyst for pro-actively writing against the company’s abnormal valuation and thus helping investors.

The IPO had ended on 8 August 2007 with 1.91 times subscription. The qualified institutional buyers (QIBs) category was subscribed 2.7 times, the non institutional investors category – made up of corporates and high networth investors – was subscribed 0.98 times. The retail individual investors category was subscribed 0.63 times.

The company had revised the price band of the IPO to Rs 400-Rs 450 per share, compared to the previously set price band of Rs 500 – Rs 525 a share, amid volatile secondary market conditions prevailing at that time.

KLG Systel has been awarded orders worth over Rs 67 crore from Governments of Rajasthan and Haryana. The projects covered in this order include that of revenue management for power utilities and boosting the power infrastructure in the states of Haryana and Rajasthan. The company shall, in the course of these project deployments, use its innovative SG61 technology to reconcile and manage the power distribution in utilities. The company has extensive experience and expertise in the Utilities business and will use state of art project management tools for timely execution of these projects. These projects are expected to be completed by March 2008.

The company is an IBM premiere ISV in India and is also now certified by IBM for SOA. SOA enables organization to build a scalable architecture capable of talking to legacy systems. The company has been recently announced as an independent software vendor by SAP and KLG’ S Vidushi has obtained net weaver certification from SAP. The company was also very recently awarded a SAP-IS utilities order from Jamshedpur utilities.

Abbott India announced that a meeting of the board of directors of the company will be held on 5 September 2007, to consider a proposal for buyback of a portion of fully paid equity shares of the company. The buyback price to be determined by the board will not exceed Rs 650 per equity share, it said.

Net profit of Abbott India rose 34.66% to Rs 18.30 crore on 18.80% rise in sales to Rs 154.04 crore in Q2 May 2007 over Q2 May 2006.

Infotech Enterprises has announced that Infotech Enterprises America, (Infotech), a global geospatial and engineering consulting and professional services firm has formed a strategic alliance partnership with Continental DataGraphics (CDG), a subsidiary of the boeing company.

The alliance with Infotech will also enable CDG to be more responsive to growing demands from its customers to develop and deliver new solution offerings in an accelerated timeframe. CDG is proactively developing new strategic partnerships with companies such as Infotech to further globalize its business and to actively seek out opportunities for growth in a broader marketplace.

CDG specializes in the creation, production, and distribution of complex engineering publications. Its comprehensive services include technical authoring and illustration services, digital imaging, and hosted portal services supporting multiple market segments in the United States and Europe, including aviation, aerospace and defense, manufacturing, energy and government. CDG has developed complex technical and engineering publications for Boeing aircraft and other heavy equipment manufacturers for many decades.