Reliance Q4 net seen up 31%, ONGC 61%

Reliance, India's most valuable firm at $93 billion and its leading private oil company, is expected to ride on strong refining margins and natural gas sales in the coming quarters. The company, which may sell a stake in its D6 gas block off India's east coast to an oil major, is expected to produce up to 80 million cubic metres of gas per day from its deep-sea fields in the region from the second half of 2008/09.
ONGC State-run oil and gas explorer ONGC is expected to report net profit grew by nearly two-thirds to Rs 4314 crore ($1.1 billion) from Rs 2682 crore a year ago. ONGC, which produces 80 percent of India's crude, is required by the government to sell oil from its domestic output at heavy discounts to subsidise state-run refiners in order to keep retail fuel prices low, which eats into the company's profits.

Hero Honda to invest Rs 150cr in Haridwar plant by Dec

At a time when the two-wheeler industry is going through a slowdown, market leader- Hero Honda has taken a bold step by starting a new plant in Haridwar. It is a gamble that Hero Honda is taking in its silver jubilee year.
The company will invest Rs 600 crore in the plant by December this year. A hundred ancillary makers will also set up base here over next 2 years.

The plant has started with an initial annual capacity of 500,000 units which will be ramped up to 1.5 million units by 2010. But the return on investment by Hero Honda for the additional capacity will be decided by the way the two-wheeler market behaves over the next few months.

Inflation at 3-year high, hits 7 pc

India’s annual inflation rose to a three year high at 7 %, 2 % more than the 5 % comfort level. The wholesale prices index for the week to March 22 increased more than the market estimate of 6.62 % and the previous week’s 6.68 % .Market is down by 3 %.

On Monday, the government decided to abolish import duty on crude form of edible oils, cut rate on refined edible oils and ban non-basmati rice exports among other measures to ease the pressure off prices.

Suzlon bags $200-220m order from Horizon Wind Energy

Suzlon Energy has bagged 200 MW order from US-based Horizon Wind Energy. Tulsi Tanti, CMD at Suzlon Energy informed that total deal size is estimated to be around USD 200-220 million.

Emco Ltd Rs 92 Crores Order for 400 kV Transmission Line

Emco Ltd has informed BSE that the Company has bagged a single prestigious order from M/s. Corporate Power Ltd, Ranchi, Jharkhand for Supply, Erection, Testing & Commissioning of 400 kV Double Circuit / Double Strung Transmission Line on Turnkey basis from Hempur to PGCIL Grid Substation at Namkum (near Ranchi), Route Length being 108 KM. The value of this project is Rs 92 Crores.

REC IPO Allotment Status

REC IPO which opened between February 19, 2008 and closed on February 22, 2008 and also got subscribed by 27 times or on whole and 7 time or so on the retail side is ready with IPO allotment status,

click here for REC IPO allotment status

BGR Energy Turnkey contract of Rs 793 Crores

BGR Energy Systems Ltd has secured a Turnkey contract from Andhra Pradesh Power Generation Ltd (APGENCO) for the execution of Balance of Plant (BOP) for the 1 x 500 MW, Stage VI — Unit XI Kothagudem Thermal Power Station valued at Rs 793 Crores. The contract scope of work includes Design, Engineering, Procurement and Construction of complete Mechanical, Electrical, Instrumentation and Plant Civil works for project. This contract will be executed over a period of 26 months.

BGR Energy has emerged as the largest EPC contractor of Power Plant — Balance of Plant in the Country for large Power Plants of 500 MW and above. The Company is currently executing three Balance of Plant contracts for 500 MW capacity coal based power projects and this contract is the Fourth contract.

The current order book of the Company stands : Rs 3715 Crores