MAN Industries wins orders worth Rs550 crore

MAN Industries (India) has secured orders worth Rs550 crore from various clients for supply of large diameter pipes for oil & gas sector

MAN Industries (India) Ltd, one of the leading large diameter pipe manufacturing companies in the country, announced that it has secured orders worth Rs550 crore from various international and domestic clients for supply of large diameter pipes for oil & gas sector. These orders are for supply of approximately 1 lakh tons of large diameter pipes in both LSAW as well as HSAW segments.

With the latest orders of approximately Rs550 crore, MAN Industries's total order book stands at about Rs1,700 crore as on date. These orders are to be executed over a period of next 12 to15 months.

On Monday, Man Industries ended 0.14% up at Rs71.25 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.97 to 19,262.54.

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India Inc’s business optimism rises for April-June quarter: Survey

"Although the business optimism has continued to rise during Q2 2011, some signs of cautiousness are visible in the relatively lower resultant optimism for volume of sales, net profits and new orders as compared to Q1 2011," D&B India president & CEO Kaushal Sampat said

New Delhi: The business optimism of India Inc has increased for the second quarter of 2011, though some signs of cautiousness are visible, following increased concerns of high inflation and rising interest rates, reports PTI quoting consultancy firm Dun and Bradstreet (D&B).

"Composite Business Optimism Index stands at 183.3 during Q2 (April-June) 2011, an increase of 28.4% as compared to Q2 2010. On a quarter-on-quarter basis, the index recorded an increase of 7.1%," D&B said in a survey.

The survey was conducted in March this year, following announcement of the Union Budget.

Based on the responses received, it was observed that three out of the six optimism indices-namely, selling prices, inventory levels and employee levels-have registered an increase as compared to first quarter of 2011.

However, cautiousness in business sentiment on account of high inflation and expected hardening of interest rates is visible from relatively lower optimism with regards to volume of sales, new orders, and net profits during the second quarter of 2011 as compared to first quarter of 2011.

"Although the business optimism has continued to rise during Q2 2011, some signs of cautiousness are visible in the relatively lower resultant optimism for volume of sales, net profits and new orders as compared to Q1 2011, following increased concerns of high inflation and rising interest rates," D&B India president & CEO Kaushal Sampat said.

Going forward, Mr Sampat said, the performance of the monsoon, which is a critical determinant of food inflation as well as rural demand, will be crucial in influencing the business sentiment.

Food inflation fell to a four-month low of 9.18% for the week ended 26th March, even as wholesale price inflation stood at 8.31% in February.

"Major policy announcements-both on the monetary and fiscal front-would also play an important role in shaping business sentiment in the ensuing quarter. The emerging geo-political situation in the Middle-East and North Africa would be an important determinant of business sentiment in the coming future," he added.

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DoT has sent 8 termination notices to telecom cos: Telecom secretary

"In all, 17 notices would be issued for delay in roll-out of services. Of this, eight have already been sent out," Department of Telecom secretary R Chandrasekhar informed media persons

New Delhi: The government today said it has issued eight termination notices to various telecom operators for delays in rolling out the services, reports PTI.

"In all, 17 notices would be issued for delay in roll-out of services. Of this, eight have already been sent out," Department of Telecom (DoT) secretary R Chandrasekhar told reporters here.

The operators have been given 60 days to respond as to why their licences should not be terminated for their failure to roll out networks, as per the licence conditions.

Mr Chandrasekhar, however, did not name any operators.

Till now, Sistema Shyam TeleServices, Aircel and Etisalat DB have been sent notices for missing the roll-out deadlines.

Most of the new players, which received second generation (2G) licences in 2008, have not met network roll-out obligations. Some of them are under the scanner of various investigative agencies, including the CBI and parliamentary panels.

Earlier, 119 notices were issued and the government has collected over Rs300 crore in penalties.

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