PSL gets Rs570 crore order from IOC

PSL’s order is for the manufacture of pipes and provisions of ancillary coating services towards the Salaya-Mathura pipeline de-bottlenecking project

PSL said it won an order worth Rs570 crore from Indian Oil Corporation manufacture of pipes and provisions of ancillary coating services towards the Salaya-Mathura pipeline de-bottlenecking project.

In accordance with this order, the company will be required to supply 28-inch diameter coated steel pipes of X-70 grade and up to 40 feet in length. These supplies will be made from company's already geared up plants at Jaipur and Kandla.

Further, the company has also informed that it has successfully completed pipe production for an earlier order from Gas Authority of India Ltd for supply of pipes valuing Rs753 crore from its other two plants located at Chennai and Vizag. Major portion of this supply was of API X-80 grade pipes.

PSL shares inched up marginally to close Wednesday at Rs65.25 per share on the Bombay Stock Exchange.

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Alstom T&D India gets Rs150 crore order from Jaypee for power transformers

Alstom would design and commission the thermal power project in Uttar Pradesh for Jaypee group

Alstom T&D India Ltd has secured a contract worth around Rs150 crore from the Jaypee Group for the thermal power project (3 x 660 MW) in Uttar Pradesh.

Alstom would design, manufacture, supply, erect, test and commission the 765kV generator transformers, interconnecting transformers, lines and bus reactors. The company said the transformers and reactors for this project would be manufactured at its facility at Vadodara.

Managing director Rathin Basu said, “We are very pleased to embark on this project with Jaypee Group, demonstrating our expertise for 765kV extra high voltage level transmission products and solutions. This project reinforces our leadership in the domain, having already been selected for around 60% of the 765kV projects in India. We look forward to supporting India, with our locally-manufactured world class products, as the region continues to develop its power transmission network.”

Alstom shares closed Wednesday 0.36% down at Rs178.85 per share on the Bombay Stock Exchange.

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Strides Arcolab gets FDA nod for Vancomycin oral capsules

The product will be launched immediately through Alvogen on a profit share basis

Strides Arcolab said it has received approval from the US FDA for Vancomycin Hydrochloride capsules, 125 mg and 250 mg. It is an antibacterial indicated to treat infections that include C. difficile-associated diarrhoea and enterocolitis caused by Staphylococcus aureus.

The product will be launched immediately through Alvogen on a profit share basis.

Strides Arcolab’s shares closed at Rs631.90 per share on the Bombay Stock Exchange, up 6.02% from its previous close.

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