Bharti Telecom acquires shares of Airtel worth Rs20 crore

Bharti Telecom has acquired 5,90,240 shares of the private telecom operator totalling Rs20.50 crore

Bharti Telecom, the largest promoter group of Bharti Airtel, has purchased shares of the private telecom operator worth Rs20.50 crore through open market transactions.

Bharti Telecom has acquired 5,90,240 shares of the private telecom operator totalling Rs20.50 crore, Bharti Airtel said in a disclosure to the BSE.

Prior to the share purchase, Bharti Telecom held a 45.60% stake in Bharti Airtel. It now has a 45.62% stake in the telecom service provider. As per shareholding data available on the BSE, Bharti Telecom held 1,729,264,367 shares, representing a 45.54% stake, in the operator as of the quarter ended September 2011.

On Wednesday, Bharti Airtel ended at Rs348.85 per share on the Bombay Stock Exchange, 0.71% up from the previous close.

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Trident Group eyes Rs630 crore revenue from paper business

Trident has a plant in Punjab and can produce around 150,000 tonnes of paper. It is looking at expanding it to 175,000 of paper by next year

Diversified business firm Trident Group said it expected 10% rise in revenue to Rs630 crore from paper business this fiscal, as it expands product portfolio and production capacities.

“Last year, our paper business clocked a revenue of Rs574 crore. By the end of this fiscal, as we launch new products and strengthen, we are expecting a revenue of Rs630 crore,” Trident Paper business head Rajeev Gupta said.

The company, which launched a premium range of eco-friendly papers under the brand 'Trident Eco Green', and 'Trident Digiprint', said it is looking at enhancing its business in the copier segment. At present, the group, which had an annual turnover of Rs2,537 crore, sells around 5,000 tonnes in the copier segment. Besides, it also has presence in the notebook categories.

"We are optimising our production capacities. We are upgrading the technology and adding more machineries in the plants. That’s where most of our investments are going," he said.

He, however, did not disclose further details on the firm's investment plans. At present, the firm has a plant in Punjab and can produce around 150,000 tonnes of paper. It is looking at expanding it to 175,000 of paper by next year.

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L&T bags Rs2,164 crore order from GMR Infra

The order is for construction of stretches consisting of six-laning of the Kishangarh-Udaipur-Ahmedabad highway

Engineering major Larsen & Toubro’s (L&T) construction division has bagged new contracts worth Rs2,164 crore in the infrastructure segment from GMR Infrastructure.

"The order is for construction of stretches consisting of six-laning of the Kishangarh-Udaipur-Ahmedabad highway. The development would be executed on EPC (engineering, procurement & construction) basis," L&T said in a statement.

Kishangarh-Udaipur-Ahmedabad project is a part of Phase-V of the National Highways Development Programme (NHDP) of the National Highways Authority (NHAI) and is for upgrading the existing four-lane section of the Golden Quadrilateral to six-lanes. National Highway-8 (NH-8) connects Delhi with Mumbai.

On Wednesday, L&T ended at Rs1,159.50 per share on the Bombay Stock Exchange, 1.04% down from the previous close.

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