Companies & Sectors
L&T Construction gets Rs2,008 crore contracts in July-August

L&T's buildings and factories segment has secured orders worth Rs674 crore, while power transmission and distribution received orders of Rs607 crore during the two months

 
Mumbai: L&T Construction on Monday said it has received orders worth Rs2,008 crore across various business segments during July and August, reports PTI.
 
Its buildings and factories segment has secured orders worth Rs674 crore, which includes an order from Airports Authority of India for the construction of a new integrated terminal building and allied works at Chandigarh Airport, the company said in a statement issued here.
 
Its power transmission and distribution segment has bagged new orders worth Rs 607 crore in domestic and international markets, including one project in Uttar Pradesh.
 
The firm's infrastructure arm has won order worth Rs275 crore from Kolkata Metropolitan Development Authority.
 
The company's water and effluent treatment segment has won a turn-key project worth Rs155 crore from Greater Mohali Area Development Authority, Mohali for construction of roads, electrical services and also development of parks and horticulture works.
 
Further, L&T Construction has secured additional orders worth Rs297 crore from various ongoing projects across business units, it said.
 

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Bank of Baroda hikes deposit rates by up to 0.65%

BoB's interest rate on the 1,111 days deposits of up to Rs1 crore has been hiked to 9.15% from the earlier 8.5%

 
Mumbai: State run Bank of Baroda on Monday hiked deposit rates on select maturities by up to 0.65%, reports PTI.
 
In a statement, the bank said it is hiking interest rates in view of the "sticky inflation and entrenchment of inflationary expectations."
 
As part of the revision, rate on the 1,111 days deposits of up to Rs1 crore has been hiked to 9.15% from the earlier 8.5%, the bank said in a filing to the BSE.
 
The rate hike is applicable from today.
 

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India Cements Q1 net profit falls 39% to Rs62 crore

India Cements' total income, which also includes revenue from IPL franchise, Chennai Super Kings, rose to Rs1,205.03 crore from Rs1,061.19 crore during the June quarter

 
New Delhi: India Cements on Monday reported a 39% drop in net profit for the April-June quarter at Rs62.07 crore notwithstanding around 14% growth in income over the corresponding quarter last fiscal, reports PTI.
 
The Chennai-based cement manufacturer had reported Rs102.03 crore net profit during the June quarter of the last fiscal, it said in a BSE filing.
 
India Cements' total income, which also includes revenue from Indian Premier League (IPL) franchise, Chennai Super Kings, rose to Rs1,205.03 crore from Rs1,061.19 crore in the year-ago period.
 
Total expenses of the company increased to Rs992.81 crore during the first quarter ended 30th June, from Rs877.01 crore during the same quarter a year ago, mainly due to higher fuel consumption and transportation costs.
 
The company also incurred a Rs25.02-crore exchange loss during the reporting quarter.
 
Shares of company closed at Rs85.15 a piece down 0.5% over its previous closing on BSE.
 

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