L&T wins orders worth Rs1,585 crore

Construction and engineering company Larsen & Toubro Ltd (L&T) said its buildings and factories division won orders worth Rs1,585 crore in the second quarter for construction of residential projects, factories, office space and hotel.

L&T received new orders aggregating Rs435crore for the construction of residential building projects from leading developers. It has further won orders worth Rs781 crore from clients for construction of hotel, office building and add on orders from its ongoing airport and commercial building projects, the company said in a release.

In yet another development, it has won Rs369 crore orders from customers for the construction of factory building projects including add on orders.

On Friday, L&T shares gained 0.2% to Rs2,041 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,250 points.

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Tata Steel Q2 sales up 14% at 1.66 mt

Tata Steel Ltd said its sales increased 14% to 1.66 million tonnes (mt) in July-September quarter due to rise in demand for its products.

"Tata Steel sold 1.46 mt in the second quarter of the last fiscal. For the half-year ended 30 September 2010, it sold 6% more steel products at 3.06 mt against 2.87 mt in the year-ago period.

During the quarter, Tata Steel saw its saleable steel production surging by 6% to 1.61 mt from 1.51 mt during the same quarter last fiscal. For the half-year period, the production grew by 5% to 3.2 mt.

Crude steel output during the second quarter surged by 5% to 1.72 mt against 1.64 mt in July-September quarter of last fiscal. For the first half of FY'11, crude steel production surged by 7% to 3.35 mt from 3.14 mt in the year-ago period.

During the second quarter, hot metal production rose 6% to1.89 mt from 1.79 mt. For the first half of the current fiscal, hot metal production rose 7% to 3.72 mt (3.48 mt).

On Friday, Tata Steel shares ended 3.5% down at Rs626 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,250 points.

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ONGC consortium in race for Kuwait Oil’s Rs13,300 crore contract

ONGC Teri Biotech Ltd (OTBL) said it is competing with 12 companies for a contract worth about Rs13,300 crore from Kuwait Oil Corp. The project includes cleaning up a desert oil slick created in the Gulf war that followed Iraq's invasion of Kuwait in 1990.

OTBL is a joint venture between Oil and Natural Gas Corp Ltd (ONGC) and The Energy and Resources Institute (TERI).

The evaluation of the pre-qualification criteria (PQC) is currently in progress for the project that is funded by the United Nations. The PQC is being examined for a 160 sq km area that needs to be cleaned up. The oil spill covers 360 sq km of desert. After the PQC process is over, the selected companies will be given tender documents to submit commercial bids, ONGC said in a release.

On Friday, ONGC shares ended 1.7% down at Rs1,362 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,250 points.

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