L&T Infra gets Infra NBFC status from RBI

Engineering and construction company Larsen & Toubro Ltd (L&T) said its unit L&T Infrastructure Finance Co Ltd (L&T Infra) received the status of ‘Infrastructure Finance Company’ from the Reserve Bank of India in the overall classification of Non-Banking Finance Company (NBFC).

L&T Infra commenced operation in January 2007 as an NBFC, a part of L&T's Financial Services Group, to finance infrastructure projects, it said in a release.

On Thursday, L&T shares closed 1.8% higher at Rs1,818 on the Bombay Stock Exchange, while the Sensex ended at 1% up at 17,651 points.

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KEC International wins orders worth Rs610 crore

KEC International Ltd, a power transmission company, said it won orders worth Rs610 crore in the transmission and cables space from overseas.

In the transmission segment, the company has won total orders of Rs487 crore for turnkey transmission lines in the Georgia, South Africa, Philippines and UAE.

In Georgia, the company has won the order for turnkey construction of 400 kV, 500 kV transmission lines. The project duration for 400 kV is 18 months and for 500 kV is two years. The total order value is Rs326 crore.

The company has also won an order in Zambia, South Africa. The total value of the order is Rs66 crore. In the cables segment, the company has won orders for supply of low tension, high tension and extra high voltage power cables worth Rs123 crore from various customers, KEC said in a regulatory filing.

On Thursday, KEC International shares closed 0.6% up at Rs473 on the Bombay Stock Exchange, while the Sensex ended at 1% higher at 17,651 points.

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Veritas FY10 net profit up to Rs6.3 crore

Mumbai-based Veritas (India) Ltd reported a full year net profit of Rs6.31 crore  compared to net profit of Rs1.40 crore the previous year. During the period to end-March, the company’s total revenues increased to Rs220.2 crore from Rs77.1 crore.

On a standalone basis, the company has posted a net profit of Rs0.39 crore for the full year as compared to net profit of Rs0.22 crore for the year to end-March 2009. The company is engaged in consulting services.

On Thursday, Veritas shares closed 2% higher at Rs550 on the Bombay Stock Exchange, while the Sensex ended at 1% up at 17,651 points.

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