Punj Lloyd wins contract worth Rs539 crore from GAIL

Construction and engineering company Punj Lloyd said it won a contract worth Rs539 crore from state-owned gas utility GAIL India for laying a natural gas pipeline from Dabhol to Bangalore.

Punj Lloyd will be laying seven spreads (sections) comprising 820 km of the pipeline, the company said in a statement. The complete work of the pipeline from Dabhol to Bidadi and two additional spur lines (Gokak-Goa and Bechanhalli-Bangalore) has a total of ten spreads. The project will be executed over a period of 13 months, Punj Lloyd said in a release.

On Friday, Punj Lloyd shares fell 2.9% to Rs132 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,250 points.

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L&T wins orders worth Rs1,585 crore

Construction and engineering company Larsen & Toubro Ltd (L&T) said its buildings and factories division won orders worth Rs1,585 crore in the second quarter for construction of residential projects, factories, office space and hotel.

L&T received new orders aggregating Rs435crore for the construction of residential building projects from leading developers. It has further won orders worth Rs781 crore from clients for construction of hotel, office building and add on orders from its ongoing airport and commercial building projects, the company said in a release.

In yet another development, it has won Rs369 crore orders from customers for the construction of factory building projects including add on orders.

On Friday, L&T shares gained 0.2% to Rs2,041 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,250 points.

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Tata Steel Q2 sales up 14% at 1.66 mt

Tata Steel Ltd said its sales increased 14% to 1.66 million tonnes (mt) in July-September quarter due to rise in demand for its products.

"Tata Steel sold 1.46 mt in the second quarter of the last fiscal. For the half-year ended 30 September 2010, it sold 6% more steel products at 3.06 mt against 2.87 mt in the year-ago period.

During the quarter, Tata Steel saw its saleable steel production surging by 6% to 1.61 mt from 1.51 mt during the same quarter last fiscal. For the half-year period, the production grew by 5% to 3.2 mt.

Crude steel output during the second quarter surged by 5% to 1.72 mt against 1.64 mt in July-September quarter of last fiscal. For the first half of FY'11, crude steel production surged by 7% to 3.35 mt from 3.14 mt in the year-ago period.

During the second quarter, hot metal production rose 6% to1.89 mt from 1.79 mt. For the first half of the current fiscal, hot metal production rose 7% to 3.72 mt (3.48 mt).

On Friday, Tata Steel shares ended 3.5% down at Rs626 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,250 points.

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