IFFCO’s Paradip unit wins 2 awards

IFFCO’s Paradip unit has received two prestigious awards for “Excellence in Energy Conservation” and “Corporate Social Responsibility’’

Fertiliser major IFFCO’s Paradip unit in Orissa has won two prestigious awards for “Excellence in Energy Conservation” and “Corporate Social Responsibility’’.

“Excellent Energy Efficient Unit” award under ‘National Energy Management Award-2011’ was presented at a function organised by the Confederation of Indian Industry (CII), Hyderabad, IFFCO sources said in Bhubaneswar today.

The award was presented by the Director General of the Bureau of Energy Efficiency, Mr Ajay Mathur at a ceremony held on 25 August 2011 at Hyderabad. It was received by Mr MR Patel, Sr executive director of IFFCO, Paradip unit.

Besides, IFFCO’s Paradip unit was awarded by Rotary Club of Bhubaneswar for significant contribution in CSR activities. A trophy was presented on 25 August at the award giving ceremony in Bhubaneswar.

Besides, the IFFCO unit also received “11th Global Greentech Environment Excellence Award 2010—Silver” for its outstanding achievement in environment management in fertiliser sector.

 

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PME Power plans to launch IPO

PME Power expects to mop up about Rs300-400 crore from the offering

Electrical transformer maker PME Power Solutions plans to raise Rs300-Rs400 crore through an initial share sale.

The firm has filed preliminary papers with market regulator SEBI for the IPO of more than 1.14 crore equity shares that would constitute 25% of PME Power's fully-diluted post issue paid-up share capital. PME Power expects to mop up about Rs300-400 crore from the offering, according to market sources.

The proceeds would be utilised for making investments in manufacturing facilities, expansion activities, for repaying debt and general corporate purposes.

In 2010-11, PME had recorded a profit of Rs75.18 crore on revenues of Rs415.72 crore. About 75% of the company's revenues come from the African region.

PME has also received an EPC contract in Zambia, which is worth about USD 64 million. The order has been awarded by Zambian power utility firm ZESCO.

The entity is also exploring markets for Amorphous Metal Distribution Transformers (AMDT) in Zambia and Zimbabwe.

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RBI launches household inflation expectation survey

Inflation expectations will be assessed from responses of around 4,000 households in 12 cities based on households' consumption baskets

The Reserve Bank of India has launched the 'Inflation Expectation Survey of Households' (IESH), which will seek responses from households on price changes.

The reference period for the 25th round of Survey would be July-September, 2011, RBI said in a statement.

"The Survey seeks qualitative responses from households on price changes in the next three months as well as in the next one year and quantitative responses on current, three- month ahead and one-year ahead inflation rates," the statement added.

Inflation expectations will be assessed from responses of around 4,000 households in 12 cities based on households' consumption baskets.

RBI said Mumbai-based Beaumont Consultancy Services has been engaged to conduct this round of survey on its behalf.

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