Atlanta wins road contract worth Rs917 crore from Bihar govt

The contract has been awarded on a DBFOT-toll basis for a length of 116.76 km for the road connecting Patna and Durgavati via Dinara and Hisadi Bazaar

Infrastructure company Atlanta Ltd has won a road contract worth Rs917 crore from the government of Bihar for widening the Mohania-Ara section of national highway No. 30.

The contract has been awarded on a design build finance operate transfer (DBFOT)-toll basis for a length of 116.76 km for the road connecting Patna and Durgavati via Dinara and Hisadi Bazaar. Atlanta has formed a special purpose vehicle under the name of Mora Tollways Ltd to undertake this project.

Mumbai-based Atlanta has got another DBFOT project in a consortium to rehabilitate, upgrade and widen the existing carriageway of the Ropar-Chamkaur Saheb-Neelon-Doraha section up to national highway 1 in Punjab. The total cost of this project in Punjab is Rs220 crore.

In the late afternoon, Atlanta was trading at around Rs73.45 per share on the Bombay Stock Exchange, 4.24% down from the previous close.

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Lanco Infratech surges after favourable court ruling on Griffin

Perdaman’s application for freezing order dismissed

Lanco Infratech Ltd has announced that Perdaman's application for a freezing order refraining Griffin from entering into a charge or security without notice to Perdaman, in the Supreme Court of Western Australia against Griffin Coal Mining Pty Ltd, a group company of Lanco Infratech has been dismissed.

The hearing of the said application took place on 27 July 2011 before Justice Beech of the Supreme Court of Western Australia. In his order, on 11 August 2011, Justice Beech dismissed Perdaman's application in favour of Griffin.

In the late afternoon, Lanco Infratech was trading at around Rs18.70 per share on the Bombay Stock Exchange, 6.25% up from the previous close.

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Piramal Glass Q1 net profit zooms 79% to Rs32 crore

Piramal Glass sales increased by 14% from Rs278 crore to reach Rs317 crore

Piramal Glass (PGL) said that its net profit for the quarter ended June 2011 jumped 79% to Rs31.5 crore compared to Rs18 crore in the same period previous year.

For the same period, its sales increased by 14% from Rs278 crore to reach Rs317 crore. Operating EBIDTA for Q1 FY2012 increased by 30% to Rs82 crore compared to Rs64 crore for the same period previous year. The company's operating EBIDTA margins have been increased to 26%-an improvement of 320 bps for Q1 FY12.

Vijay Shah, managing director, Piramal Glass said, "Our investment strategies of the last few years are bearing fruits and our focus on the high margin 'Premium' cosmetics and perfumery segment has led to a phenomenal improvement in EBIDTA. We expect our C&P Premium segment to grow by 28-30% CAGR till FY13."

Ajay Piramal, chairman, Piramal Group, hailed the company's performance, "The focus on cosmetics and perfumery, especially premium has helped us in achieving this result. With the revamp in the capacity, Piramal Glass will be world's second largest C&P Company (in terms of capacity) with 550 TPD as installed capacity.

In the late afternoon, PGL was trading at around Rs136.05 per share on the Bombay Stock Exchange, 1.31% down from the previous close.

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