~
Corporate News
L&T has bagged orders worth Rs 1100 crore in the buildings
and factories segment.The order pipeline includes a Rs
500 crore contract from the Wadhwa Group for the
construction of a residential tower in Mumbai, a Rs 305
crore contract from Arshiya International for ware houses in
Uttar Pradesh and a Rs 295 crore order for the construction
of a mall and a factory building in Haryana. - BS
SAIL has increased the prices of its flat steel products
(primarily used by automobile and consumer durable
industries) by Rs 500 a tonne, effective from Feb 1. - ET
Tata Teleservices and Reliance Com announced the launch
of a SMS-based email service across their networks in the
country to generate more revenues from Value Added
Services. - ET
Ashok Leyland reported an over three-fold jump in
commercial vehicle sales at 7,871 units in January compared
to the same month in 2009.The company had sold 2,444
units in the same month last year. - ET
Inox Leisure board has approved the purchase of 43.28 per
cent in Shroff family promoted, Fame India for an all-cash
deal of Rs 66.48 crore.This acquisition will create the largest
multiplex networks with a total of 55 multiplexes, 204 screens
and 57,891 seats. - BS
Supreme Infrastructure India has bagged three projects
worth Rs 363.94 crore from different agencies for
construction related works.The company has bagged a road
project worth Rs 340 crore from Maharashtra Public Works
Department for four-laning of 64 km of Manor-Wada-
Bhiwandi road - BS
Macro Economic News
A Prime Minister-appointed, Kirit Parikh & expert group
suggested freeing petrol and diesel prices and called for
raising LPG rates by a steep Rs 100 per cylinder and
kerosene by Rs 6 a litre, recommendations that may not be
acceptable to the government battling high inflation. - ET
Global Cues
The number of mortgage applications in the U.S. rose 21
percent last week to the highest level in more than a month
as refinancing rebounded.The Mortgage Bankers
Association’s index rose to 620.7 in the week ended Jan.
29 from 513 in the prior week. The group’s refinancing gauge
increased 26%, while the purchase gauge rose 10%. -
Bloomberg
~
R`MONEY
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