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Thermax bags order worth Rs 450 crore from a integrated steel unit plant for contruction of a captive power plant.The order is to set up 60 MW power plant that will be built and commissioned on a turnkey basis for a green field integrated steel complex in Andhra Pradesh. The plant will use process gases and blended coal as fuel.
Sadbhav Engineering informed the market that it had received 2 projects worth 219.92 crore where the first project was From Greater Visakhapatnam Municipal Corporation worth Rs 165.54 crore which is a joint venture prohject. Second project was From Surat Muncipal Corporation worth Rs 54.38 crore.
In order to bring in some liquidity flow in banking system RBI cut 50 basis point in the CRR which has brioght down the crr to 8.5 percent this will be in effective from 11 October 2008. The measure would release Rs 20000 crore into the banking system.
SEBI is also taking measure on one side to attract FII for more fund inflow to the market so Mr Bhave informed that in a bid to boost inflow of funds, market regulator SEBI today lifted the 40 % cap on issue of Participatory Notes (PNs) by foreign institutional investors (FIIs), a move that will help revive the troubled equity markets.But i dont think this would help in anyway global market is crashing why would suddenly FII get interested in ours and will invest.
Jaipan Industries’ informed the market today that in the meeting that was held on October 6th 2008 , they have decided tot approve the bonus issuein the ratio of one equity share for every two equity shares held.
Era Infra Engineering wanted to get some attention so it just went ahead and informed on the details of contract or orders it got during Q2 FY 2008-09 which is worth around 785 crore or so.
The order is as follows
>Rs 95.5 crore from BHEL,
>Rs 30.98 crore from NATRIP,
>Rs 79.20 crore for Commonwealth Games -2010 from CPWD,
>Rs 58.52 crore for main power block from BHEL,
>Rs 111.27 crore for up-gradation, renovation and new construction for Commonwealth Games-2010 from CPWD,
>Rs 42.35 crore for construction of industrial housing from DSIIDC,
>Rs 35.17 crore for construction of additional general pool office accommodation from CPWD,
>Rs 208.94 crore for construction of head of department building from Naya Raipur Development Authority,
>Rs 52.55 crore for up-gradation of I.M.S. under PMSSY from CPWD and
>Rs 70.75 crore for up-gradation, renovation and new construction for Commonwealth Game-2010 from CPWD.
Aurona Technologies which is the gaming division of Pyramid Saimira Group informed the market that it has won a game art contract from Deep Silver, an Austrian developer and publisher they will develop Ride to Hell,which is based on the biker gangs in the United States in the late 1960s. It will be developed for Deep Silver on PC, Sony PS3 and Microsoft Xbox 360 platforms.
sensex had a carnage today and closed down by almost 724 points below 12000 finally closing at 11801 points , The market was down in the opening trade itself as all the asian and erupean market was down but there was some recovery which just short lived and finally even went below by 700 points.
What moved the market?There was good and bad news that played the market but the whole market melt down happened because of
> Global market meltdown that ripped europe
> Uncertainity over the signing of the Nuclear Deal
> Uncertainity of the 700 billion dollar deal if it will really save the US economy and much more
Good news was there but dint really was taken good in the market like
> Inflation below 12 percent
> SEBI informed that they might relax some rules on participatiry notes.
But nothing seemed to please the investors.
Inflation numbers came a day late as october 2nd was a holiday and sorry i had the info little bit late on saturday , anyway the good news is it came as a surprise every analyst was expecting it to be at range of 12.10 to 12.15 and it came below 12 percent at 11.99 percent .
Finally after a week of struggle by whitehouse and Bailout supporters the US House of Reps passed the 700 billion dollar bailout plan in 263 to 171 vote in the Us congress.Out of which 172 Democrats voted in favor of the bill while 62 opposed it; and 91 Republicans voted for it and 108 voted against it.But the market did loose some green points after the voting.
Dow fell another 348 points on fear of if this particular bill would be ever approved in the congress think this will be final one if this doesn’t workout not sure if they will even try another one.This is going into congress for voting today .But again that’s not the only reason for the crash today.
Market Movers
>Weekly jobless claims rise, exceed consensus
>August factory orders post worse-than-expected decline
>Senate passes version of $700 billion asset purchase plan
>SEC extends short selling ban on certain stocks
>Insurance companies get clipped as credit spreads widen
Indo Tech Transformers Ltd has informed the bourses that they have received good export order for 80 and 90MVA - 275KV [total 5 nos.] Power Transformers. The total order value of the contract is US $ 6,500,000 which is almost 30 crore.
Everest Kanto Cylinder Ltd has informed the market that they have received an order from Pakistan and Middle East countries for the supply of CNG cylinders through EKC International FZE, the Company’s wholly owned subsidiary in Dubai. The value of the ocntract is 13 million dollar which will almost come to 60 crore when 1 dollar is 45 rs.
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Omaxe Ltd informed the market that one of its subsidiary Omaxe Infrastructure and Construction Pvt has bagged a contract for Development and Construction of Township for the New Zinc Smelter Plant at Dariba, Udaipur of Hindustan Zinc Ltd.Total Built-up Area for the township is 4,50,000 Sq.Fit in a 12.5 Acre Plot and the total cost involved in the contract is is Rs 90.71 Crores.
