Supreme Infra completes its first marine project

Supreme Infra has also bagged orders worth Rs212.30 crore

Supreme Infrastructure India Ltd has completed EPC for its first marine project— Kasheli Bridge and commenced tolling operations. The company has added orders worth Rs212.30 crore along with a bridge project for Rs124 crore. The company has also added a road BOT project in Maharashtra. The details of the Kasheli Bridge include:

The EPC work involved building a 6 lane flyover on Old Thane Nashik highway for a length of 1.2 km on the Thane Creek for Rs301 crore. This project was awarded to SIIL in 2009 by the Sangam group and has been completed in 36 months. The project involved complex engineering skills to cast pilling with depths ranging from 15–25 meters. SIIL holds 10% equity stake in the Kasheli Bridge SPV viz. Kalyan Sangam Infratech Ltd. This SPV was involved in the construction of the Kasheli Bridge on a BOT basis. The construction of Kasheli Bridge has been completed and tolling operations have commenced.

The company has also received a project for construction of villas and apartments from BPTP Group, Gurgaon worth Rs71 crore. The project is expected to be executed by March 2014. The company has also bagged orders from Ramprastha, Gurgaon and from MMRDA for construction of Flyovers, Maharashtra.

In the late afternoon, SIIL was trading at around Rs166 per share on the Bombay Stock Exchange, 3.14% up from the previous close.

User

TCS to set up new campus in Nagpur for Rs600 crore

The TCS Nagpur campus will be build in two phases, the first of which will contain 8,200 seats for IT services and BPO services

The country's largest software exporter Tata Consultancy Services said it will build a new software development unit in Maharashtra at an initial investment of Rs600 crore, creating jobs for over 8,200 professionals.

The campus will be located at Nagpur, Maharashtra, in the Mihan Special Economic Zone (SEZ), Tata Consultancy Services (TCS) said in a filing to the BSE.

“Nagpur has the potential to become the next big hub for knowledge-based industries like IT and engineering with its strong eco-system of universities, talented people and infrastructure,” TCS CEO and MD N Chandrasekaran said.

The TCS Nagpur campus will be build in two phases, the first of which will contain 8,200 seats for IT services and BPO services. The second phase will be of similar scope, it said. Once the project is completed, the campus will accommodate 16,000 associates, the filing added.

In the late afternoon, TCS was trading at around Rs1,145 per share on the Bombay Stock Exchange, 0.13% up from the previous close.

User

Investors not to pay for maintaining KYC data: SEBI

Under the new process, once the investor has undergone the KYC process, an intermediary shall perform the initial KYC of its clients and upload the details on the system of the KRA

The Securities and Exchange Board of India, which is working on simplifying the Know Your Client process for easy investing, said there will be no burden on investors for maintaining their data with the KYC Registration Agency (KRA).

“I do not think there will be any burden of charges on investors for maintaining their KYC data as it is likely to be borne by intermediaries,” SEBI executive director, PK Nagpal, said on the sidelines of CII organised Financial Market Conclave.

In case of demat, an investor has to pay a certain annual maintenance and usage charges for their account with the two depositories. In case of single KYC data, KYC Registration Agency will do the record keeping. Mr Nagpal said the KRA regulations had been notified and SEBI was working closely with stock exchanges and intermediaries for the rollout of the new simplified norm.

Under the new process, once the investor has undergone the KYC process, an intermediary shall perform the initial KYC of its clients and upload the details on the system of the KRA. If the investor intends to open account with another intermediary, the intermediary concerned can verify and download the client’s details from the system of the KRA.

This will help the investor in avoiding going through KYC process every time he makes an investment through a single or multiple intermediaries. SEBI has issued guidelines for uniform KYC process for the investors who intend to open accounts with different intermediaries in the securities market.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)