Goenka Diamond & Jewels IPO receives subscription of 0.62 times

The Initial Public Offering (IPO) of Goenka Diamond & Jewels Limited which opened for subscription by investors today - March 23, 2010 has received subscription of 0.62 times till 4:00 PM.

The company has come out with IPO of 1,00,00,000 EQUITY SHARES of Rs 10 each for cash at a price band of Rs 135 to Rs 145 through 100% book building process.

The IPO closes for subscription on March 26, 2010.


Source :www.biginfotech.in

Intrasoft Technologies IPO opens for subscription

The Initial Public Offering (IPO) of Intrasoft Technologies Limited opened for subscription by investors today - March 23, 2010.The company has come out with IPO of 37,00,000 shares of Rs 10 each for cash at a price band of Rs. 137/- to Rs. 145/- through 100% book building process.

The Minimum Order Quantity is 40 Equity Shares and in multiples of 40 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

The Rating Agency CARE Ratings has assigned IPO Grading of IPO Grade 3.

Collins Stewart Inga Private Limited and Anand Rathi Advisors Limited are the Book Running Lead Managers to the issue. ITI Financial Services Limited, Intime Spectrum Securities Limited and SMC Global Securities Limited are the Syndicate Members to the IPO.LINK INTIME INDIA PRIVATE LIMITED is the registrar to the company.

The IPO closes for subscription on March 26, 2010.


Source :www.biginfotech.in

Jet Airways signs lease agreement with Thai Airways

Jet Airways has signed a new lease agreement for three of its B777-300 ER aircraft with Thai Airways. The three new wide-bodied 777-300 ER aircraft will be dry leased to the Thai National carrier for a period of three years with immediate effect. The lease agreement with Thai Airways is in addition to the four other 777-300 ER aircraft currently on dry lease with Turkish Airlines.



Source :www.biginfotech.in

Indocount Finance to change its name

The members of Indocount Finance have accorded to change the name of the company from Indocount Finance to Margo Finance, subject to the approval of the Central Government.



Source :www.biginfotech.in

HDIL`s subsidiary receives permission for setting up SEZ at Kochi

Housing Development & Infrastructure (HDIL) has announced that Bluestar Realtors, a wholly owned subsidiary of the company has received the permission from the Ministry of Commerce and Industry, Department of Commerce (SEZ section) dated 10 March 2010 for setting up of a sector specific Special Economic Zone (SEZ) for information technology (IT) at Kalamassery, Kochi, Kerala admeasuring an area of 28.32 hectares.

Source :www.biginfotech.in

Birla Power Solutions to increase authorised share capital

The board of Birla Power Solutions in its meeting on 25 March 2010 have accorded to increase the authorised share capital from Rs. 100 crore to Rs. 300 crore.

Further, the board has accorded to raise funds by issue of GDRs/ADRs/FCCBs and equity shares upto a sum of Rs. 500 crore.



Source :www.biginfotech.in

Computer Point expands its horizon to distribution business

Computer Point has expanded its horizon to distribution business. Computer Point, in the retail division is involved in the activity of sales and marketing of products having an enormous network all over India.

It has entered into a tie up with a Singapore based company which procures from different parts of the world, all sorts of micro processor based medical and IT products and caters to different countries. Computer Point looks to import these products from that company to start with and distribute them in India through its large network of more than 1000 centers including dealers and franchisees.


Source :www.biginfotech.in

Edserv Softsystems to increase authorised share capital

The shareholders of Edserv Softsystems have accorded to increase the authorised share capital of the company from Rs. 14 crore to Rs. 25 crore.

Further, the shareholders have accorded to raise funds not exceeding a sum of Rs 130 crore through Qualified Institutions Placement (QIP).



Source :www.biginfotech.in

Larsen & Toubro bags Rs. 1181 crore orders

The Electrical & Gulf Projects Operating Company, a part of Larsen & Toubro`s construction division has bagged six orders aggregating Rs. 1181 crore for construction of power transmission line and substation works. Three of these six orders worth Rs. 741 crore have been secured from the Gulf markets and the other orders worth Rs. 440 crore are for domestic projects.

L&T has secured two orders from UAE against stiff international competition. The first one is a breakthrough order valued at Rs. 265 crore and has been received from Dubai Electricity and Water Authority (DEWA) for supply, installation, testing and commissioning 240 km of 132 kV Extra High Voltage (EHV) cabling. This project is to be completed in 18 months.

Abu Dhabi Distribution Company (ADDC), an arm of Abu Dhabi Water and Electricity Authority (ADWEA) has placed an EPC order on L&T valued at Rs. 100 crore for construction of Power Distribution Network to Aryam Island, near Aim Dhabi city. This involves 17 km of 33kV double circuit over head transmission line 40 km of MV Cabling including Protection, SCADA, DC system and other auxiliaries. The project is to be completed in 16 months.

L&T`s gulf operations business unit is currently executing twenty-four 132 & 33 kv rating substations in UAE. These orders further reinforce the company`s total capability, operational efficiency and customer goodwill garnered by L&T in UAE.

The third order valued at Rs. 376 crore has been secured by Larsen & Toubro (Oman) LLC - joint venture company of L&T in Muscat from Oman Electricity Transmission Company (OETC) for executing on EPC basis 200 km of 220 kV and 132 kv double circuit overhead transmission lines and associated 220/132/33 kv GIS substation. This 200 km of overhead transmission line is the biggest EHY transmission line order for L&T gulf operations and also one of the longest transmission line projects to be executed in the Sultanate of Oman. Similarly 220 kv GIS substation, will be the highest voltage level in the Country of Oman. The project is to be completed in 18 months and Energoprojekt Entel are the project consultants.

L&T is the leader in EHV space in Oman and this order secured against stiff competition reinforces the strong mar presence of L&T in Oman. In the domestic front, L&T has secured an order for Rs. 246 crore from Power Grid Corporation of India (PGCIL) for the construction of 159 km of Biswanath Chariyali Tangla Section of 800 kV HVDC Bipole Biswanath Chariyali Agra Transmission Line System. This is L&T`s second 800 kV HVDC Line order secured from Power Grid Corporation of India for transfer of power from the North East to the Northern and Western parts of the Country. The project is to be completed in 36 months.

In yet another development, the Power Grid Corporation of India (PGCIL) entrusted L&T with an order for Rs. 74 crore for construction of 36 km long 400 kv transmission lines from Vindhyachal/Sasan Yindhyachal Pooling Station, associated with Vindhyachal IV Power Station. The project is to be completed in 18 months.

In addition, the company has secured a Rs.120 crore order from Steel Authority of India (SAIL) for expansion of their 4.5 MTPA Rourkela Steel Plant. The project is to be completed in 21 months and this involves design, engineering, supply, erection, testing and commissioning of medium voltage substation with interplant cabling, SCADA including associated civil works.


Source :www.biginfotech.in

Lupin launches Hyalgan in India

Lupin has launched Hyalgan (sodium hyaluronate), an osteoarthritis drug available in the form of an injectable through leading orthopaedics and physiotherapists across the country. Hyalgan is the original research molecule of the Italian pharma giant FIDIA and is the world leader in hyaluronan and hylan (HA) therapy, marketed in over 60 countries globally.

The drug, which is a natural liquid injected into the knees to relieve pain caused due to osteoarthritis, has been test- marketed by Lupin over the last 6 months across the country. Hyalgan is recommended for patients of stage 1 to 3 of OA to relieve the acute pain associated with it. Hyalgan can also delay the progression of OA when taken regularly as per the schedule, According to a recently concluded survey, the market for osteoarthritis is currently pegged at INR 150 crores. In India OA is the 2nd most prevalent disease in the age group of 25-30 years and affects more than 12% of the population.


Source :www.biginfotech.in

Ramco secures prestigious order from Medsol

Ramco Systems has announced a significant order win from Medsol, a part of Gulf Healthcare International, a pioneer in providing pathology testing services in the Middle East & North Africa (MENA) region.

Medsol has licensed Ramco`s commercial applications including inventory, purchase, financials, sales, HR, payroll and business intelligence along with a customer portal.



Source :www.biginfotech.in

MSK Projects to increase authorised share capital

The extraordinary general meeting of MSK Projects (India) will be held on 13 April 2010 to consider increase in authorised share capital of the company from Rs 25 crore to Rs 41 crore.



Source :www.biginfotech.in

ACI Infocom incorporates `ACI Ecotech`

ACI Infocom has incorporated a wholly owned subsidiary company `ACI Ecotech` on 28 January 2010.






Source :www.biginfotech.in

Maruti Suzuki manufactures 10 lakh units in 2009-10

Maruti Suzuki India has joined a select club of global automobile maker, when it became the first automobile company in India to produce one million (10 lakh) cars in a year.

The millionth car manufactured in 2009-10, a glistening red Maruti Suzuki Swift rolled out from the company`s Manesar plant in the presence of Bhupinder Singh Hooda, Chief Minister, Haryana and Vilasrao Deshmukh, Union Minister of heavy industries & Public Enterprises.

Taking forward its commitment to serve its customers better and faster, the car major also set the foundation stone for capacity expansion at its Manesar plant by 2.5 lakh units annually. This initiative will help the company scale up the Manesar plant`s capacity form 3,00,000 units per annum to 5,50,000 units per annum over the next two years. Maruti Suzuki will invest about Rs 1700 crore for this expansion. Maruti Suzuki`s present production facilities are located at Gurgaon with a capacity of 7 lakh units and Manesar with capacity of 3 lakh units.


Source :www.biginfotech.in

Vision Corporation to raise funds

The board meeting of Vision Corporation will be held on 06 April 2010 to issue and allot GDRs / ADRs / FCCBs for an amount not exceeding Rs. 100 crore.


Source :www.biginfotech.in

Firstobject Technologies to launch e-learning modules

Firstobject Technologies is set to launch its E-learning modules for CBSE syllabus under 10+2 category, law CET (Common Entrance Test) and management CET on the eve of EGM of shareholders meant for approval of shareholders for preferential allotment to promoters, strategic investors and others.

E-learning modules of Firstobject meant for CBSE are prepared subject wise for classes under 10+2 stream and each module will has been worked out with meticulous planning under the supervision of eminent scholars and academicians. The E-tutorial modules for law CET for Andhra Pradesh Universities and Management entrance test for MBA admissions for Universities in Andhra Pradesh are also prepared each subject category wise comprehensively under the guidance and supervision of tutorial experts.



Source :www.biginfotech.in

Sonata partners with TMMi Foundation

Sonata Software has joined the TMMi Foundation. The TMMi Foundation is an independent non-profit organization dedicated to improving testing processes and software quality on a global scale. As a part of this initiative, Sonata will contribute to the development and review of new levels of TMMi. Sonata will also participate in the overall awareness and growth initiatives of the foundation that are targeted towards improving global testing standards.


TMMi Foundation is committed to promoting the uptake of TMMi model as an international industry standard for assessing and rating organizations testing process capabilities. Over the years, the TMMi standards have gained acceptance with many organizations across the globe, for standardizing and streamlining testing processes as well as optimizing the overall cost of quality.



Source :www.biginfotech.in

BPCL encounters additional gas in Wildcat Well in Mozambique

Bharat PetroResources (BPRL), a wholly owned subsidiary of Bharat Petroleum Corporation (BPCL) advises that Anadarko Petroleum Corporation, U.S.A (Anadarko), the operator of exploration block in Rovuma Basin, Area 1, offshore Mozambique has informed that a total depth of approximately 516.1 meters has been reached in the Windjammer discovery well. This well has encountered an additional 23 net meters of natural gas pay in the deepwater offshore Mozambique.

The additional pay intersected in the deeper objective brings the total net meters of natural gas pay in Windjammer to more than 169 meters. Windjammer is located about 48 Kilometers east of the Mozambique coastline in approximately 1465 meters of water. Anadarko next plans to move the Belford Dolphin drillship approximately 80 Kilometers south-southeast to drill its collier prospect. BPRL Ventures Mozambique B.V, an overseas subsidiary of BPRL, holds 10% participating interest (PI) in this block.

The consortium members in the block are Anadarko Petroleum (36.5% PI), BPRL Ventures Mozambique B.V. (10% PI), Videocon Mozambique Rovuma 1 (10% PI), Cove Energy Mozambique Rovuma Offshore (8.5% PI) and Mitsui E&P Mozambique Area 1 (20% PI). The balance 15% PI is with Empressa Nacional de Hidrocarbonetos E.P. (ENM), the national oil company of Mozambique, who are carried through the exploration phase.


Source :www.biginfotech.in

Subhash Projects & Marketing secures order

Subhash Projects & Marketing has received letter of award dated 16 March 2010 from the Public Works Department, Government of Rajasthan, Jaipur, towards construction of two lane from Jaipur to Bhilwara on Design, Build, Finance, Operate and Transfer (DBFOT) basis. The capital cost of the projects is about Rs. 250 crore. The concession period will be for 22 years including the construction period of 18 months from the appointed date.


Source :www.biginfotech.in

Jindal Cotex to increase authorised share capital

The board of Jindal Cotex in its meeting on 22 March 2010 has decided to increase the authorised share capital of the company from Rs 27 crore to Rs 60 crore.

Further, the board has decided to raise funds by way of rights issue / preferential issue in the domestic market upto Rs 150 crore.



Source :www.biginfotech.in

Radico Khaitan allots equity shares

The committee of Radico Khaitan in its meeting on 22 March 2010 has approved the allotment of 2,89,19,000 equity shares of Rs.2 each at a price of Rs. 118.19 per equity share, aggregating to Rs. 341.79 crore to Qualified Institutional Buyers.



Source :www.biginfotech.in

Larsen & Toubro bags new orders worth Rs. 1500 crore

Larsen & Toubro`s (L&T) buildings and factories operating company part of its construction division has bagged new orders aggregating Rs. 1500 crore recently for the construction of hospitals, residential towers and factory buildings.

L&T has secured two orders for construction of hospital projects amounting to Rs 627 crore from HLL Lifecare. The first order secured is for Jawaharlal Nehru Institute of Post Medical Education and Research (JTPMER) Puducherry involving turnkey construction of a 400 bed women and children hospital including hostel complex, teaching block and augmentation of existing facilities. The second order is for the construction of ESIC medical college and hospital at Paripally in Kollam District, Kerala.



Source :www.biginfotech.in

D&H Welding Electrodes to issue warrants

The members of D&H Welding Electrodes India have approved to issue 36,40,400 convertible warrants to promoter and non-promoter on preferential basis.

Further, then members have approved to increase the borrowing limits of the company in excess of the aggregate of paid up share capital and free reserves where the sums to be borrowed and the sums already borrowed by the company not exceeds Rs. 100 crore.


Source :www.biginfotech.in

NIIT Technologies acquires one more win around its cargo handling solution

NIIT Technologies has announced that it will develop, implement and maintain the state of art cargo, operations system (COSYS IS) to support the cargo handling operations at Tan Son Nhat International Airport, Ho Chi Minn City, Vietnam.

NIIT Technologies has partnered with Singapore Airport Terminal Services (SATS) to globally implement and market COSYS IS, the cargo handling solution to other ground handlers and airlines. COSYS IS is specifically designed to provide tailor-made e-freight compliant solutions to cargo handling agents and carriers. NIIT Technologies and SATS collectively have vast experience in Implementing and maintaining COSYS IS at several airports.


Source :www.biginfotech.in

California Software`s subsidiary achieves platinum partner status

California Software Company has announced that its subsidiary Aspire Communications is the first partner of Renesas in India to achieve platinum partner status Renesas Partner Program.



Source :www.biginfotech.in

Lupin receives approval for Eszopiclone tablets

Lupin has announced that its U.S subsidiary, Lupin Pharmaceuticals, Inc (LPI) has received tentative approval for the company`s Abbreviated New Drug Application (ANDA) for Eszopiclone tablets in strength of 1 mg, 2 mg and 3 mg from the U.S. Food and Drug Administration (USFDA).

Lupin`s Eszopiclone tablets are the AB-rated generic equivalent of Sepracor`s LUNESTA tablets, indicated for the treatment of insomnia. The brand product had annual sales of approximately $761 million for the twelve months ended December 2009, based on IMS Health sales data.


Source :www.biginfotech.in

L&T to design & build interceptor boats for Indian Coast Guard

Larsen & Toubro (L&T) has been awarded a contract by the Ministry of Defence for the design and construction of 36 high speed interceptor boats for the Indian Coast Guard. The contract is valued at Rs. 977 crore and is among one of the main initiatives being taken by the government to strengthen coastal security.

The interceptor boats will feature aluminium-alloy hull construction with water jet propulsion to enable quick response which is vital for such applications. The interceptors will also be able to operate effectively in shallow water that will be critical for near shore action.

The boats shall be designed in-house at the L&T`s Ship Design Centre, a part of its heavy engineering division. The boats are planned to be constructed at L&T`s existing shipyard at Hazira (in Gujarat) and at its new shipyard coming up at Katupalli near Ennore (in Tamil Nadu).



Source :www.biginfotech.in

Shree Renuka Sugars acuires Vale Do Ivai (VDI)

Shree Renuka Sugars has completed the acquisition of Vale Do Ivai S/A Acucar E Alcool (VDI) ,a Brazilian sugar and ethanol production company. Pursuant to the above acquisition, VDI has become a wholly owned subsidiary of the company. The acquisition includes two sugar and ethanol production facilities located in the Southern State of Parana with a combined crushing capacity of 3.1 million tonnes per annum.



Source :www.biginfotech.in

Empower Industries India allots warrants

The board of Empower Industries India in its meeting on 20 March 2010 has allotted 3 crore convertible equity warrants on preferential basis.



Source :www.biginfotech.in

NTPC commences its operations of Kahalgaon Super Thermal Power Project

National Thermal Power Corporation (NTPC) has announced that the 500 MW unit-3 of Kahalgaon Super Thermal Power Project - stage II (3X500 MW) has commenced commercial operation from 20 March 2010. With the commercial operation of this unit, the commercial capacity of Kahalgaon Super Thermal Power Project is 2340 MW.


Source :www.biginfotech.in

Bharti Airtel allots equity shares

The committee of Bharti Airtel in its meeting on 20 March 2010 has allotted 85,250 equity shares to the employees upon exercise of stock options, pursuant to ESOP scheme 2005 of the company.

With the allotment of the above shares the equity base of the company stand increased from present level of 3,797,444,846 to 3,797,530,096 equity shares of Rs. 5 each.



Source :www.biginfotech.in