ARSS Infrastructure wins two orders worth Rs167.65 crore

ARSS won its first BOT based road project worth Rs123 crore from MPRDC. It has also won an order worth Rs44.65 crore to construct a high level bridge over river Brahmani in Odisha

Bhubaneswar based ARSS Infrastructure Projects has won two new work orders worth Rs167.65 crore.

The first order is for construction of road from Damoh-Bhatiagarh-Hirapur on build-operate-transfer (BOT) basis worth Rs123 crore from Madhya Pradesh Road Development Corporation Ltd (MPRDC). The total length of the road is about 69.60km.

The other order is for construction of high level bridge over river Brahmani near Jenapur at 15th km of Kuakhia to NH-200 road via Jenapur in the district of Jajpur, Odisha under NABARD Assistance RIDF XVI. The project is to be completed within three years from the date of commencement of work and the order is worth Rs44.65 crore.

Sunil Agarwal, President& CEO, said, "The order from MPRDC is the first BOT order we've received in road projects, this order closely follows on the heels of the PPP order for the bus terminal we received from the Odisha govt in March."

On Friday, ARSS Infra ended 3.30% down at Rs594.80 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.71% to 19,451.45.

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Tata Steel FY11 crude steel production up 4.4% to 6.85MT

Tata Steel Ltd, the Indian operations of the Tata Steel Group, reported a 4.4% growth in FY11 crude steel production to 6.85 million tonnes (MT), exceeding installed capacity at its Jamshedpur facility.

"The crude steel production at 6.855MT exceeded installed capacity of 6.8MT in the second year after commissioning of the expansion project," Tata Steel said in a statement.

The domestic steel major had produced 6.56MT crude steel in the previous fiscal. Crude steel is the first solid steel product upon solidification of liquid steel.

Considered as the world's second-most geographically diversified steel producer with presence in 26 countries, Tata Steel Group is among the top 10 global steel companies, with an annual crude steel making capacity of over 28MT.

On Friday, Tata Steel ended 1.23% down at Rs629.70 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.71% to 19,451.45.

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M&M hike vehicles prices by up to Rs15,000

Auto major Mahindra & Mahindra said it has raised prices of its entire range of vehicles by up to Rs15,000 from last week.

"We have hiked prices last week by 1.5% to 2% on all our vehicles due to higher commodity costs," Mahindra & Mahindra president (automotive and farm sectors) Pawan Goenka said.

The price hike will vary between Rs7,000 to Rs15,000 on different models, he added.

The company sells utility vehicles like Scorpio and Bolero along with three wheeler commercial vehicles. It also manufactures and sells sedan Logan.

This is the second price increase taken by the company in 2011. Earlier, in January this year Mahindra & Mahindra had raised vehicle prices by about 1.5%.

On Friday, Mahindra & Mahindra ended 0.63% down at Rs727.75 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.71% to 19,451.45.

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