MindTree wins two IT deals worth $70 million

MindTree has won two deals from the information and communication technology service-provider in Europe and a US-based bank

IT firm MindTree Ltd said it has won two deals totalling to $70 million (about Rs316 crore) from the information and communication technology service-provider in Europe and a US-based bank.

The combined deal size is over $70 million, to be spread for the period of next five years. The company will provide IT services and solutions to it customers, MindTree said in filing to the Bombay Stock Exchange (BSE).

"These two deals, one of which is from a European customer, are significant and position us well to be considered for large scale engagement in the future. The European deal is the single largest multi-year win for MindTree in our history," MindTree senior vice-president Ram Mohan said.

On Wednesday, MindTree declined 0.65% to Rs402.40 on the BSE, while the benchmark Sensex declined 0.64% to 18,178.33.

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Gammon India wins orders worth Rs1,980.30 crore from Chennai Metro Rail

Gammon India has been awarded UAA-02 and UAA-03

Construction firm Gammon India Ltd said it has won two orders worth Rs1,980.30 crore from Chennai Metro Rail Ltd (CMRL) for the design and construction of seven underground stations.

"Gammon India has been awarded UAA-02 and UAA-03. The two project contracts have a value of Rs932.88 crore and Rs1,047.42 crore," it said in a communique to the Bombay Stock Exchange (BSE).

These contracts (UAA-01 and UAA-05) are part of a five-tender package floated by CMRL for the design and construction of underground stations and associated tunnels, covering a total length of 18km and 19 underground stations, it added.

"The scope of work for both packages involves construction of seven underground stations at Govt Estate, LIC Building, Thousand Light, Gemini, Teynampet, Chamiers Road and Saidapet, along with twin bored tunnels covering a total length of over 6.4km," the statement said.

On Wednesday, Gammon India ended 3.79% up at Rs119.20 on the BSE, while the benchmark Sensex declined 0.64% to 18,178.33.

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Larsen & Toubro becomes first Indian valve maker to secure ASME ‘N’ and ‘NPT’ Certification

Larsen & Toubro’s valves facility in Coimbatore that focuses on high-end valves for nuclear and thermal power received the certificates of authorisation from ASME on 18 January 2011

Larsen & Toubro Ltd (L&T) said it has become the first Indian manufacturer of industrial valves to receive the coveted 'N' and 'NPT' stamp from American Society of Mechanical Engineers (ASME). The valves facility in Coimbatore that focuses on high-end valves for nuclear and thermal power received the certificates of authorisation from ASME on 18 January 2011. With this achievement, L&T joins the exclusive group of manufacturers authorised to supply valves for nuclear power in the global arena.

L&T, a key supplier of industrial valves to the global majors in oil & gas and power, has a strong presence in the Indian nuclear power industry. Valves supplied by L&T are in operation in nuclear installations across the country as well as major thermal power plants.

The state-of-the-art valves plant is a part of L&T's high-tech manufacturing hub in Coimbatore. The facility also houses a design office and R&D lab equipped to carry out functional qualification tests of nuclear valves.

The product range includes high-pressure valves in ASME class up to 4500. The plant boasts the latest in manufacturing technology and has in-house capability to carry out high-pressure high-temperature endurance tests.

On Wednesday, L&T ended 0.42% down at Rs1,602.30 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.64% to 18,178.33.

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