L&T Construction bags orders worth Rs2,700 crore

In the Power Transmission & Distribution segment, L&T has secured orders worth Rs763 crore from various clients for construction of transmission lines, electrical works including substations

Larsen & Toubro (L&T) Construction division has bagged new orders worth Rs2,700 crore across various businesses during Oct/Nov 2011.

In the Buildings & Factories segment, the company secured new orders worth Rs1,109 crore from customers for the construction of a residential complex consisting of 23 towers of up to 29 stories. The company has also bagged an order for the construction of a warehouse facility.

In the Infrastructure segment, orders worth Rs353 crore has been secured for the construction of a viaduct, including two station buildings, for Kolkata Metro railway. The other order, secured through Rail Vikas Nigam Ltd, pertains to the construction of a viaduct and related work for the Kolkata Metro.

In the Power Transmission & Distribution segment, the company has secured orders worth Rs763 crore from various clients for construction of transmission lines, electrical works including substations. In addition, the company has secured orders valued at Rs200 crore on the international front from Tatweer Petroleum, Bahrain for electrical projects including additional contracts from other clients for ongoing projects.

In yet another development, a major order has been secured from Delhi Jal Board worth Rs272 crore for the rehabilitation and automation of the existing 116 MGD (million gallons per day) water treatment plant in Delhi.

In the late afternoon, L&T was trading at around Rs1,333 per share on the Bombay Stock Exchange, 1.42% up from the previous close.

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HCL Info bags order for border check posts in Maharashtra

HCL Infosystems said that the project was awarded by Sadbhav Infrastructure and entails design, supply, installation, commissioning and maintenance of the system for the next 10 years

IT hardware firm HCL Infosystems said it has bagged a project to implement automation, computerisation and integration solutions at 22 border check posts (BCP) in Maharashtra.

The project was awarded by Sadbhav Infrastructure and entails design, supply, installation, commissioning and maintenance of the system for the next 10 years, HCL Infosystems said in a statement. However, no financial details were disclosed.

Three Maharashtra state government bodies—the Department of Transport, Department of Sales Tax and Department of Excise—will share and use the common ICT solution for their respective functions.

The integrated BCPs shall have combined facilities for clearance and checking of commercial traffic by all three departments, the statement said.

The proposed modernisation with computerised BCPs will help road users and reduce clearance time, thereby increasing efficiency of the departments, it added.

"We thank the Maharashtra government and Sadbhav Engineering for providing us an opportunity to employ our proficiency and expertise to provide an efficient and optimum system," HCL Infosystems COO (Enterprise Business Unit) Rajeev Asija said.

In the late afternoon, HCL Infosystems was trading at around Rs50 per share on the Bombay Stock Exchange, 1.75% down from the previous close.

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Sundaram MF introduces Capital Protection Oriented Fund 3 Years (Series 7)

Sundaram MF new issue closes on 19th December

Sundaram Mutual Fund has launched Sundaram Capital Protection Oriented Fund 3 Years (Series 7), a close-ended income scheme.

The objective of this scheme would be to seek income and minimise risk of capital loss by investing in a portfolio of fixed income minimise risk of capital loss by investing in a portfolio of fixed income securities. The scheme may invest a part of the assets in equity to seek capital appreciation.

The new issue closes on 19th December. The minimum investment amount is Rs5,000.

CRISIL MIP Blended Index is the benchmark index. Dwijendra Srivastava is the fund manager for debt portion and Srividhya Rajesh is the fund manager for equity portion of the scheme.

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