NTPC conducts 35th Annual General Meeting in New Delhi

NTPC has a strong balance sheet which is leveraged by it to mobilise resources at competitive rates

NTPC Ltd has conducted its 35th Annual General Meeting in New Delhi today. All the functional and independent Directors of the company were present on the occasion. The company said that it has been able to post highest ever growth in capacity addition in 2010-11, mobilise coal and remain among the best market-performers in the sector.  

NTPC will continue to remain the sector leader and stay ahead of competition said Arup Roy Choudhury, CMD addressing shareholders. He said NTPC has a strong balance sheet which is leveraged by it to mobilise resources at competitive rates. Strong financial ratios have ensured that the cost of borrowing has been around 7% for FY10-11 and the first quarter of 2011-12. The debt-equity ratio is 0.64 which gives it ample scope to raise more debt.

NTPC has a total installed capacity of 34,854MW and is committed to adding 4,980MW, including Sipat Unit-1 of 660 MW, during 2011-12. Mr Choudhury informed that against the 11th plan target of 9,220MW, NTPC has already commissioned 7,450MW and total capacity addition is expected to be 11,770MW.

NTPC has also signed a joint venture agreement with Ceylon Electricity Board (CEB) of Sri Lanka with 50:50 equity participation for setting up the company's first overseas power project. The 2x250MW coal based project is scheduled to be commissioned by 2016.
 
In the late afternoon, NTPC was trading at around Rs171.75 per share on the Bombay Stock Exchange, 1.63% up from the previous close.

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L&T's shipyard to become operational by January 2012

L&T has invested Rs4,000 crore for phase-I of the shipyard spread across 1,250 acres at Kattupalli

Engineering major Larsen and Toubro's (L&T) shipyard being set up at Kattupalli would become operational by coming January, a top company official said.

The shipyard would enable India to compete globally with Japan and Korea in building large-sized warships, car carriers and submarines, L&T board member and president (heavy engineering) MV Kotwal said.

The company in association with the Tamil Nadu Industrial Development Corporation is setting up the shipyard at an investment of Rs4,000 crore for the first phase of the yard spread across 1,250 acres.

"It can handle 18,000 tonne ships, the (work on) ship-lift is nearing completion... it will be operational by January 2012...," Mr Kotwal said.
According to Kotwal, the Kattupalli Shipyard, near Ennore Port, and the company's another facility in Hazira (Gujarat) would be simultaneously used by L&T for manufacturing ships.

The company was also setting up large workshops for repairs at Kattupalli. It has bagged a project from the coast guard to manufacture 36 high speed "interceptor" vessels which can travel up to 45 knots per hour. On financials he said the company as a group was expecting to report Rs60,000 crore revenues during this financial year compared to last year's Rs52,000 crore. He said the ship building industry was expected to touch $20 billion by 2020.

In the late afternoon, L&T was trading at around Rs1,564.25 per share on the Bombay Stock Exchange, 0.21% up from the previous close.

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Idea expands its 3G network to cover 236 towns in Gujarat

Idea’s 3G services are now available in major cities like Ahmedabad, Surat, Vadodara, Rajkot and Gandhinagar besides 231 other smaller cities and towns in Gujarat

With a network of around 1,400 3G sites, mobile operator Idea Cellular has set up the widest spread 3G network across Gujarat. Around 5 lakh Idea 3G users in Gujarat can now roam seamlessly on 3G network across 18 circles in India; customers can choose from a wide range of 3G plans starting from Rs9 up to Rs5000.

Idea has rapidly expanded its 3G network to cover 236 towns across 23 districts in Gujarat and 3 union territories, making it the widest spread 3G network in the state.

Idea's 3G services are now available in major cities like Ahmedabad, Surat, Vadodara, Rajkot & Gandhinagar, besides 231 other smaller cities and towns in Gujarat. Idea's 3G users, both prepaid and postpaid, from Gujarat can now roam seamlessly across Mumbai, Maharashtra & Goa, Karnataka, AP, Tamil Nadu & Chennai, Delhi, Haryana, UP West, UP East, Bihar, Kolkata & West Bengal, Kerala, MP, Rajasthan, North East & Assam.

Idea has also recently launched a wi-fi router, which can connect upto 5 devices at a time. The USP of this Router is portable and compact and multiple users can use it at the same time.  

In the late afternoon, Idea was trading at around Rs98.7 per share on the Bombay Stock Exchange, 2.07% up from the previous close.

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