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Larsen & Toubro (L&T), the capital goods major, has increased its stake in the Kalindee Rail Nirman Engineers to 14.5% from 13.93% through its investment arm — L&T Capital — from the open market. Kalindee Rail is expected to get orders worth Rs 500 crore from the Indian Railways in coming few years. The company … Read more Larsen & Toubro raises its stake in Kalindee Rail
The Indian Banks have been caught on the wrong footing due to the burst in the Real Estate Bubble. The banking sector has demanded the Reserve Bank of India (RBI) to reduce provisions on restructured loan outstanding due of Rs 1 crore or less with small-ticket borrowers. Earlier, the RBI had asked banks to make … Read more Banks demand reducing Home loan provision to 2%
Continuing its strategy to concentrate on infrastructure projects to push the economy, the government has cleared two port projects and five highway projects involving a total investment of Rs 5,220 crore. The projects will be implemented under public-private partnership route. Finance ministry officials said after clearing the projects that the largest among those cleared was … Read more Government clears infra projects worth Rs 5,220 crore
HCL Technologies has won a Rs 393 crore contract from National Insurance Company (NIC) for setting up and managing new enterprise wide IT Landscape for NIC. The contract for a period of 7 years will cover business process re-engineering, application, blueprinting and roll out of 19 applications, systems integration and management services This is deemed … Read more HCL Tech bags Rs 393 worth order from National Insurance
Suzlon Energy (Tianjin), China, a wholly owned subsidiary of Suzlon Energy, has entered into an agreement with Inner Mongolia North Longyuan Wind Power Corporation, for supply of turbines for 100 MW of wind turbine capacity. The order consist of delivery of a total of 80 units of Suzlon’s S64-1.25 MW turbine in two lots of … Read more Suzlon Energy’s China unit bags contract for 80 units of turbine
The Irrigation and Buildings & Industrial Structures (B&IS) Divisions of the IVRCL Infrastructures & Projects have bagged orders of the value of Rs 670.03 crore. The company has bagged an order worth Rs 332.55 crore from Narmada Development Division No.12, Rajpur for execution of Lower Goi Project including dam, canals and its distribution network An … Read more IVRCL Infrastructures & Projects bags orders worth Rs 670.03 crore