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

Godawari plans foray into thermal power

Godawari Power and Ispat (GPIL), an integrated steel manufacturer based in Chhattisgarh, is mulling foray into commercial power generation with projects in Chhattisgarh or Jharkhand with capacities ranging between 300 to 1,000 mw with coal and coal rejects as fuel.

GMR to enter into air charter services

GMR Infrastructure is foraying into air charter services and will enter into the corporate jet market with a capital expenditure plan of Rs 7 billion, reports Economic Times.

GMR Aviation, set up to drive this charter venture, will have an initial fleet size of 6 nine-seater aircraft and two choppers. The company is looking at tapping the growing corporate jet market in India. The company has already obtained a license to operate charter services and has met with encouraging response in its test-marketing phase.

The company, which has already acquired two nine-seater Falcons, will have a total fleet size of six aircraft and two choppers. The company will spend Rs 1.20 billion on each of the four Falcons, Rs 1.60 billion on two other aircraft and Rs 600 million on two choppers. The Rs 7-billion fleet acquisition would be funded through debt: equity in the mix of 80:20. The company has already placed the orders for enhancing the fleet strength.

The charter services for a nine seater Falcon aircraft will be priced at Rs 2,50,000 per hour. Two of the Falcons are high-end and long-range aircraft. Apart from long haul, the company is also pitching the services for the domestic circuit. So routes such as Bangalore-Chennai/Hyderabad are very much on the radar and so are intra-city routes such as connectivity to upcoming BIAL airport in Devanahalli in Bangalore.