The wholesale price index inflation rose to 11.89% for the weekended June 28 as compared to 11.63% previous week, fuelledby high prices of all essential commodities.
Deceleration in the production of the petroleum refinery products,electricity and cement pulled down the growth in the six coreinfrastructure industries to 3.5% in May 2008 compared to 7.8%in May 2007. During April May 2008-09, the growth rate for thecore industries declined to 3.5% against 6.9% during the sameperiod last fiscal.
NTPC-Bhel Power Projects (NBP-PL), the 50-50 JV between NTPCand BHEL, is investing Rs. 6,000 crore in setting up a powerequipment manufacturing facility that will churn out boilers andturbines equipped to charge up 5,000 MW of Greenfield thermalcapacities by calendar 2013. It will undertake three broadcategories of businesses which will be taken up in three phases.In the first phase, it will strive for engineering, procurement andconstruction jobs for power plants in India and abroad while inthe second phase it will manufacture critical equipment for powerunits and in the final phase it will set up a power manufacturingplant. The plant will have a capacity to manufacture criticalcomponents - boilers and turbines- for power plants with anannual capacity of 5,000 mw of 2013.
Larsen and Toubro has bagged a Rs. 1,047.6 crore order from theIndian Railways for setting up a Cast Steel Wheel Manufacturingplant in Saran (Chhapra) District of Bihar. The plant whencommissioned will have the capacity to manufacture 1,00,000 CastSteel Railroad Wheels per annum. The scope of the work involvesengineering, procurement and construction of the complete plantincluding civil works, electrical installation, design, supply erectionand commissioning of the machinery and plant. The new plant willhelp the Indian railways to meet the huge shortage of wheels forrolling stocks due to rapid growth in the passenger and freighttraffic and will reduce dependence on imports.
Bharat Earth Movers (BEML) has bagged orders worth Rs.207crore for export of hydraulic excavators, rear dump trucks andbulldozers to Indonesia. One order for 93 equipments valued atRs. 158 crore is from Fajar Bumi Sakti, Indonesia, for deploymentat its coal mines. The second order for 34 equipments worthRs. 49 crore is from Singapore`s Far East Resources & Mining Co,for its coal mines in Indonesia. BEML plans to establish a salesoffice-cum-repair facility and spares depot at Balikpapan inIndonesia in three months, to provide 24x7 after-sales support toits customers.
Infosys Technologies have registered a net profit growth of20.67% to Rs 1,302 crore for the quarter ended June 30, 2008 ascompared to Rs 1,079 crore for the quarter ended June 30, 2007on consolidated basis. The total Income has increased by 23.47%to Rs. 4,971 crore vis-à-vis Rs. 4,026 crore previous year. On astandalone basis, the net profit after tax rose by 22.76% toRs. 1,262 crore for the quarter ended June 30, 2008 vis-à-vis toRs. 1,028 crore for the previous quarter. Firstly it has uppedearnings guidance to Rs. 99.34-101.06. Secondly this was mainlyon account of depreciation in rupee and new assumption ofRs. 43 for the remaining three quarters. And lastly revenue guidancein dollar terms has remained same.
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