In the Transportation Infrastructure Business, new orders worth Rs. 1035 Crores have been won. A major EPC order has been received from Rail Vikas Nigam for construction of roadbed, major and minor bridges, track linking, outdoor signaling and electrical works in connection with doubling of Sambalpur-Barpali, Barpali-Bolangir, Bolangir-Titalgarh sections as part of Sambalpur-Titalgarh doubling of East coast Railway project in Odisha state. Continue reading L&T Construction secures orders valued 29.35 Billion INR
Market mood was negative on account of Japan Earthquake and ongoing unrest in Libya and middle east region and constant threat of spike in crude oil prices.
In the week closing 11 March 2011, the Indian stock Index S&P CNX Nifty traded in a tight range of 5560-5410. Nifty closed in red in three out of five trading days. Week-on-week basis, the Sensex was down by 312 points or -1.7%, to close at 18174.39 levels. The Nifty also closed in the red down by 93 points, or 1.7%, to close at 5445 for the week. Metals, Capital Goods and Banking stocks were the major losers, with heavy weights like Tata Steel, L&T, BHEL, State Bank faced selling pressure, where as Reliance Industries and Reliance Capital were the major gainers. Food inflation for the week ended Feb 26, 2011 was 9.52% (v/s 10.39% last week). IIP numbers were positive in India. In Feb 2011, exports were $23.6 bn (49.8% growth YoY) while imports were $31.7 bn (21.2% gr wth YoY). IIP nos for Jan 2011 came at 3.7% (street estimates: 2.7%) while the December IIP was revised from 1.6% to 2.5%. Continue reading Stock Market Analysis – 12 March 2011