Stock Markets

L&T Wins Order Worth Rs. 287 Crore

Larsen & Toubro has announced that the company has secured an order worth Rs 287 crore from Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of Elevated Access Road from Western Express Highway (WEH ), Mumbai, to the Chatrapathi Shivaji International Airport (CSIA).

The work involves design and construction of 1,850 m long six-lane corridor consisting of pedestrian and vehicular subways, resurfacing of roads at Western Express Highway including the construction of a 1,150 m long, six-lane elevated access road as wel l as a 165-m long tunnel.

Network18, Jagran Signs JV Pact To Launch Hindi Business Daily

Network18, leading media firm and publisher of the nation’s largest read Hindi daily ‘Dainik Jagran’ Jagran Prakashan Limited (JPL) have formed a 50:50 joint venture (JV) to publish a business newspaper in Hindi.

Jyothy Laboratories Shares List At 30% Premium On NSE

Jyothy Laboratories Ltd has listed today at Rs. 895 on the NSE, at 30% premium or up by Rs. 205 from its issue price of 690 rupees.

The company is leading manufacturer of fabric care products, ayurvedic products, herbal products, air care products, and mosquito repellent products. The company is very popular in the market due to its fabric whitener, “Ujala”.

The company had come out with an initial public offering (IPO) of 44.30 lakh shares of Rs 5 each at a price band between Rs 620 and Rs 690 per equity share. The IPO was open for subscription from Nov. 22 to Nov. 27, 2007.

SRF To Invest 270 Crore For Expansion

SRF Ltd. has announced that the company’s board of directors at its meeting held on Dec 17, 2007 has approved the capital expenditure proposals worth Rs. 270 crore.

The company, established in 1973, is a leading Indian player in Technical Textiles, Refrigerant Gases and having operating interests in Packaging Films and Pharma Intermediates sectors.

RCOM Successfully Acquires License In Uganda

Anil Ambani group firm, Reliance Communications Ltd. (RCOM) has announced that the company has successfully acquired license for providing fixed-line and wireless telecom services in Uganda. Earlier, the company had made unsuccessful bids for licenses in Kenya and Saudi Arabia.

According to the sources, RCOM has received two licenses - Public Infrastructure Provider (PIP) and Public Service Provider (PSP) - which will allow the company to offer mobile, fixed, internet, national and international long distance services, in addition to WiMax and WiFi services in Uganda.