Friday, November 30, 2007

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Punj Lloyd - Punj Lloyd Group bags Rs 1272 crore LTA Project in Singapore

Punj Lloyd Ltd has informed that Sembawang Engineers and Constructors Pte Ltd, a wholly owned subsidiary of the Company has won a major contract worth Rs 1272 crore for architectural, civil and structural work at the proposed Bayfront MRT station in Marina Bay in Singapore. The contract has been awarded by Land Transport Authority of Singapore.

The market closed on an upbeat note

The market closed on an upbeat note by creating a rally across all the sectorial indices on the back of heavy buying across the index heavy weights. The market opens firmly backed by the positive global cues and keeps on trading higher through out the trading session. The market also got the momentum on the back of strong quarterly GDP figures that add to the market sentiments. All the sectorial indices closed higher but most buying is seen from the Metal, Realty, Oil & Gas and Bankex basket. The BSE Sensex grew by 359.93 points to close at 19,363.19 and NSE Nifty closed up by 128.15 points to close at 5,762.75. Overall, the market breadth was strong as 1,745 stocks are closed higher while 1056 are closed lower. The BSE Mid cap and Small Cap advanced by 191.01 points and 136.27 points to close at 8,553.56 and 10,526.02 respectively.

BSE Metal Surged 858.21 points to close at 17,730.53. Scrips that grew are Sterlite industries (12.58%), Ispat industries (6.63%), Jindal steel (6.15%), Sesa Goa (5.80%), JSW steel (4.42%) and Tata Steel (2.94%).

BSE Realty index closed firm at 10,626 up by 402.38 points at 10,223.93. Pushed up by Phoenix mill (10.71%), DLF (7.04%), Omaxe limited (6.13%), Ansal Infra (4.12%) and Unitech (2.73%).

BSE Bankex surged 269.47 points to close at 10,870.88. Scrips that gained are Kotak bank (9.51%), BOB (7.58%), BOI (6.19%), Union bank (4.39%), IOB (4.31%) and HDFC bank (2.50%).

BSE oil & gas index grew by 315.13 points to closed at 12,359.73. Scrips that jumped are Essar Oil (16.57%), RNRL (9.76%), Cairn (4.14%), ONGC (2.59%) and RPL (1.26%).

BSE IT index grew by 111.86 points to close at 4,197.62 as Moser Baer (5.05%), Finance tech (4.97%), Educomp solution (4.65%), TCS (3.81%), I-FLEX (3.50%) and Infosys (2.19%).

BSE Power index closed higher by 90.79 points at 4,344.22 as CESC 6.88%, Tata Power (4.72%), Reliance energy (4.47%), Suzlon energy (3.80%), Power Grid (3.57%).



Reliance Power Ltd has been awarded a Letter of Intent for the 4,000 MW

Reliance Energy Ltd (REL) has informed that the Companys group Company, Reliance Power Ltd, on November 30, 2007 has been awarded a Letter of Intent for the 4,000 MW imported-coal based Ultra Mega Power Project at Krishnapatnam Andhra Pradesh, which will have an estimated capital outlay of Rs 20,000 crore.

This is in addition to the 4,000 MW domestic-coal based Ultra Mega Power Project at Sasan, Madhya Pradesh, involving an estimated capital outlay of about Rs 18,000 crore, which was awarded earlier this year to Reliance Power.

Reliance Powers estimated capital outlay for these two projects alone aggregates approximately Rs 40,000 crore. In addition, Reliance Energy and / or its group Companies are implementing several large infrastructure development projects, in the areas of metro railways, roads, real estate, etc.

In order to augment long term resources for the RELs contribution to Reliance Power, as well as for financing the large number of mega infrastructure projects that are being implemented by the REL group, and several others that are in the pipeline, the Board of Reliance Energy Ltd will meet on December 02, 2007 to consider proposals for raising resources by way of preferential allotment of equity and / or equity related securities, and / or long term debt, and / or other financial instruments.