L&T to refurbish ONGC’s offshore jack-up rig for Rs376 crore

Larsen & Toubro Ltd (L&T) said its floating systems business unit has won an offshore rig refurbishment contract, worth Rs376 crore, from Oil & Natural Gas Corp (ONGC). 

L&T’s facilities at Sohar, Oman and Hazira and engineering offices of L&T-Valdel in Faridabad, Bangalore and Chennai will be supporting this venture, in addition to other L&T work centers. Upon successful completion, the rig will be deployed to assist and augment offshore ONGC’s oil and gas drilling operations.

On Wednesday, L&T    shares closed 2.5% up at Rs1,882 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.

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Easun Reyrolle wins Rs32 crore turnkey contract from Infosys

Bangalore-based Easun Reyrolle Ltd (ERL) said it received a turnkey automatic meter reading (AMR) contract from Infosys Technologies Ltd which is valued at Rs32 crore.

The contract is for the implementation of meter data acquisition solution covering 60,000 distribution transformers and high-tension consumers in the designated 100 towns covering all the five electricity distribution companies in Karnataka. ERL will execute the project in 18 months, it said in a regulatory filing. 

On Wednesday, the company shares closed 0.2% up at Rs112 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.

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Stone India enters into solar power projects

Kolkata-based Stone India Ltd said it will enter solar power projects through its recently created special purpose vehicle (SPV) called Stone Solar Pvt Ltd.

Stone Solar will set up a number of solar farms at rooftop locations and vacant lands. It has submitted its initial proposal of 1 MW plant at West Bengal for pre-registration under Jawaharlal Nehru National Solar Mission scheme.

On a medium term, in addition to setting up of such solar projects, Stone Solar will venture into manufacturing of photovoltaic module (PV) modules, grid connected converters as well as consulting & execution of turnkey projects, the company said in a regulatory filing.

On Wednesday, Stone India shares fell 2.6% to Rs63 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.

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