The By Product Plant (BPP) Package for the upcoming 3 MTPA integrated steel plant at Nagarnar has a total cost of Rs509 crore.
NMDC Ltd has informed the BSE that the company has signed the contract for By Product Plant (BPP) Package for the upcoming 3 MTPA integrated steel plant at Nagarnar, with the consortium led by Shriram EPC Ltd (SEPC) on 10 January 2012. The total cost of the package is Rs509 crore.
The BPP unit is an important installation in integrated steel making, which processes valuable raw Coke Oven gas from coke ovens to yield by products like TAR, Naphthalene and Sulphur besides clean coke oven gas used in the fuel gas network of the integrated steel plant.
In the late afternoon, NMDC was trading at around Rs171.35 per share on the Bombay Stock Exchange, 1.42% up from the previous close.
“This award underlines the transparency in our process of financial reporting, which is crucial in enhancing the credibility the company enjoys amongst the various stakeholders:” R.Sridhar, managing director of Shriram Transport Finance Company Ltd.
The Institute of Chartered Accountants of India have adjudged Shriram Transport Finance Company Ltd as the winner under the Category V-Financial Services Sector (other than Banking and Insurance) of the ‘ICAI Awards for Financial Reporting’.
The awardees have been selected by a panel of judges on review of accounting practices adopted by the participating enterprises in the preparation of financial statements and the policies adopted for disclosure and presentation of financial statements and other information in the annual reports without regard to their financial condition and operating performance. The award was handed over at a glittering ceremony which was held on 6 January 2012 at the Chennai Trade Centre in Chennai, after the inaugural ceremony of the International Conference on ‘Accountancy Profession: Leveraging Emerging Challenges for Inclusive Growth’.
On being chosen as the winner in their respective category, Mr R.Sridhar, managing director of Shriram Transport Finance Company Ltd. said “This award underlines the transparency in our process of financial reporting, which is crucial in enhancing the credibility the company enjoys amongst the various stakeholders. The team at Shriram Transport Finance feels privileged to have been chosen as the winner amongst highly competitive and esteemed nominees in terms of financial reporting by the very notable Institute of Chartered Accountants of India.”
Shriram Transport Finance Company Limited is the flagship company of the Shriram group. It has PAN India presence with 496 branch offices. Based at Mumbai, it manages assets of over Rs38,000 crore and has a live customer base exceeding 8,00,000.
In the late afternoon, Shriram Transport Finance was trading at around Rs503.25 per share on the Bombay Stock Exchange, 1.03% up from the previous close.
Axis Constant Maturity 10 Year Fund - new fund offer closes 24 January 2012.
Axis Mutual Fund has launched Axis Constant Maturity 10 Year Fund, an open-ended gilt scheme.
The objective of the scheme is to generate returns similar to that of 10 year government bonds.
The minimum investment amount is Rs5000. The new fund offer closes 24 January 2012.
Crisil 10-year Gilt Index is the benchmark for the scheme. R Sivakumar is the fund manager for the scheme.