Reliance Capital Trustee buys 8 lakh shares in Titagarh Wagons

Reliance Capital Trustee Company bought 8.1 lakh shares of Titagarh Wagons, a supplier of wagons and freight cars, for Rs330.01 a piece, valuing the transaction at Rs26.72 crore

Reliance Capital Trustee Company, a subsidiary of Anil Ambani Group's Reliance Capital, purchased 8.1 lakh shares of Titagarh Wagons for Rs27 crore through open market transactions, reports PTI.

Reliance Capital Trustee Company bought 8.1 lakh shares of Titagarh Wagons, a supplier of wagons and freight cars, for Rs330.01 per share, valuing the transaction at Rs26.72 crore, according to bulk deal data available on the stock exchanges.

Meanwhile, India Capital Fund, a shareholder of Titagarh Wagons, sold 6.86 lakh shares of the company for Rs330 a piece for Rs22.65 crore.

Besides, another entity India Capital Opportunities offloaded 1.22 lakh equities of Titagarh Wagons for Rs330.01 a piece, valuing the deal worth Rs4.04 crore.

As of December quarter, India Capital Fund held 715,188 equities or 3.8% stake in Titagarh Wagons.

Reliance Capital shares ended Wednesday 5.48% down at Rs360.55 while Titagarh Wagon’s shares closed 1% higher at Rs338.25 per share on the Bombay Stock Exchange.

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Patni Jan-Mar 2012 net drops 13.6% to Rs153 crore

Patni's standalone revenues increased marginally to Rs547.49 crore while the net profit fell by over 13%

IT services company Patni Computer Systems posted a decline of 13.56% in its standalone net profit at Rs152.77 crore for the quarter ended 31 March 2012.
It had registered a net profit of Rs176.75 crore in the same quarter last year.

The company's standalone revenues during the quarter increased marginally to Rs547.49 crore from Rs542.72 crore same period a year ago, it said in a filing to the BSE.

Patni’s shares ended Wednesday at Rs504.10 per share on the Bombay Stock Exchange marginally down from its previous close.

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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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