Month: August 2009

IVRCL Infrastructure & Projects, in a joint venture with another company, has emerged as the lowest bidder for the 25 km Sion-Panvel expressway. The project cost has been pegged at around Rs 2,000 crore and has a concession period of 18 years and nine months. IVRCL beat Reliance Infrastructure to bag the project.

The project envisages expanding the existing bitumen road into a 10-lane concrete expressway between the BARC junction at Sion and the Kalamboli junction at Panvel with three flyovers and 10 underpasses. The project would be executed on a build-operate-transfer (toll) basis, the report added.

Read moreSion-Panvel expressway – IVRCL bags the Project

Foreign institutional investors (FIIs) were net sellers of Rs 438.19 crore (provisional) in the cash segment on Thursday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,766.64 crore, their gross sales aggregated Rs 2,204.83 crore.

On the other hand, domestic institutional investors (DIIs) were net buyers of Rs 489.42 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,343.26 crore, their gross sales stood at Rs 853.84 crore.

Read moreFIIs net sellers of Rs 438 cr (prov) in the cash on Thursday

US copper ended lower, capping the longest slide in two months, after US jobless claims rose unexpectedly last week, igniting fresh concerns that the recession is damping demand for industrial metals.

The metal extended its fall after a report revealed Americans fell behind on their mortgage payments at a record pace in the second quarter, a sign that the housing market has yet to stabilize. Copper dropped for the fifth straight session.

Copper futures for December delivery lost 1.7 cents, or 0.6%, to $2.754 a pound on the Comex division of the New York Mercantile Exchange. The industrial metal has declined 6% since August 13.

Read moreWeak American jobs data pulls down copper prices

The Telecom Regulatory Authority of India (TRAI) has conveyed to the Department of Communications (DoT) that it may not immediately decide on the issue relating to capping of the number of players per circle. The regulator said that it was a wider issue and could not be considered in singularity. TRAI, in this wake, has said it would only be able to give reply by November.

However, DoT is not in position to wait for November and wants the regulator to provide a response by as early as next month. Last year, the communications ministry abruptly changed the last date of 2G license application to September 25, 2007 from October 1, 2007 it had announced earlier. A number of companies, which had applied for a license between these two dates challenged the action of DoT in the court.

Read moreTRAI refuses to cap number of players

Adani Power, the dirty energy company which went into a historic IPO on Dalal Street with never before heard optimism from Foreign Investors has no BUYERS at price below its IPO price. The stock which listed at Rs 103 has hit a LOW of Rs 99.20 on heavy volumes on the NSE. Currently trading at Rs 100.40.

Small Indian Investors were cautioned by Dalal Street to stay away from the IPO because of the background of promoters and Dirty Energy which will be heavily penalized in the Long Term.

Read moreDirty Energy Adani Power Short Circuits on Listing

Delhi-based Panacea Biotec has secured an order worth $222.32 million from the United Nations Children’s Fund (UNICEF) for supply of its EasyFive (pentavalent vaccine) for three years viz., 2010, 2011 and 2012.

The company has received an award notification for the same from UNICEF.

EasyFive, world’s first fully liquid pentavalent vaccine, is used to immunize childrens against Diptheria, Tetanus, wholecellPertussis, Hepatitis B and Hemophilus Influenza Type b.

Read morePanacea Biotec secures $222 millon worth of order from UNICEF