Punj Lloyd builds on overseas deal buzz

Punj Lloyd rose 1.66% to Rs 284.10 at 14:44 IST on BSE on reports the company plans to bid for Singapore's maiden liquefied natural gas terminal for which it has tied-up with an Italian firm Saipem.

Saipem is a leading global engineering procurement and construction (EPC) contractor.

The cost of the project is estimated at S$1 billion and is to be commissioned by 2011. Besides Punj Lloyd and Saipem, three other global players are reported to be in the race for the terminal project. If Punj Lloyd bags the project, it would be executed through its Singapore subsidiary.

On 18 July 2008, Punj Lloyd received an order worth $108 million from Spain's Tecnicas Reunidas for a project in Abu Dhabi.

On 4 July 2008, the company bagged an order worth Rs 1005 crore from GVK Power for its Govindwal Sahib coal fired thermal power plant project in Punjab.

On 6 June 2008, Punj Lloyd secured an order worth Rs 649 crore for motor spirit quality upgradation project from Indian Oil Corporation for its Barauni Refinery, Bihar.

Punj Lloyd’s net profit surged 296.8% to Rs 84.12 crore on 120.5% increase in net sales to Rs 1558.58 crore in Q1 June 2008 over Q1 June 2007.

The company provides engineering, designing, procurement, construction and project management services for energy industry and infrastructure sector.

BGR Energy gains on new order win

BGR Energy Systems gained 2.09% to Rs 305 at 9:55 IST on BSE after the company said it bagged a Rs 39.60 crore order for supply air fin coolers to Essar group's refinery expansion project at Jamnagar in Gujarat.

In June 2008, BGR Energy Systems’ oil & gas division bagged a contract worth $9.29 million for manufacture of 70 oil product storage tanks for Aumara oil products depot in Iraq.

BGR Energy Systems’ net profit rose 17.4% to Rs 17.23 crore on 32% growth in net sales to Rs 306.83 crore in Q1 June 2008 over Q1 June 2007.

BGR Energy Systems is a supplier of systems and equipment for the power, oil and gas, petrochemical and process industries.

L&T Consortium Bags EPC Orders worth Rs 3816 Crores from the Steel and Zinc Industry

Larsen & Toubro Limited (L&T), in consortium with Global technology partners, has secured EPC orders aggregating Rs. 38,160 million (Rs. 3,816 crore) from various customers in the metals industry.

L&T in consortium with Outotec, GmbH of Germany for pellet plant and Paul Wurth, Italia for Blast Furnace has bagged EPC orders worth Rs. 25,450 million (Rs. 2,545 crore) from Tata Steel for 6 MTPA Pellet Plant and 3,800 CuM Blast Furnace at Jamshedpur. L&T's portion is valued at Rs. 15,780 million (Rs. 1,578 crore).

L&T, in consortium with Outotec has been awarded the largest pellet plant of 768 sqm grate area, marking L&T's entry into EPC business for pellet plants. Outotec is the industry leader in pelletizing technology using travelling grate and when completed, this will be the world's largest plant as on date. The pellet plant is scheduled for commissioning in 33 months.

In another significant development, L&T in consortium with Paul Wurth of Italy has been awarded an order for 2.5 MTPA Blast Furnace on EPC basis, scheduled for commissioning in 30 months. L&T has recently successfully commissioned the largest Blast Furnace H for TATA STEEL at Jamshedpur. The repeat order for similar size Blast Furnace from Tata Steel reinforces the faith reposed by Tata Steel on L&T-Paul Wurth consortium.

L&T-Outotec consortium has also bagged Rs. 7,530 million (Rs. 753 crore) order on EPC basis for 360 sqm sinter plant, scheduled for commissioning in 30 months for SAIL-RSP expansion of 3.7 MTPA. L&T's portion is valued at Rs. 5,880 million (Rs. 588 crore). With this order, L&T-Outotec is concurrently executing six sinter plants on EPC basis in India and has established itself as the most preferred supplier in the steel industry.

L&T has also bagged a repeat order from Hindustan Zinc for 2.1 Lakh TPA Leaching, Purification and Zinc Electrolysis plant on EPC basis, valued at Rs. 5,180 million (Rs. 518 crore), scheduled for commissioning in 17 months. This repeat order from HZL is a statement of their confidence and reliance in the capabilities of L&T to execute EPC jobs in record schedules.

The slew of projects in the metallurgical space has positioned L&T as a significant player in the Indian ferrous and non-ferrous industry.

Aban Offshore receives order for deployment of new jack-up rig

Aban Offshore Ltd has announced that a Letter of Intent has been received for deployment of the new built jack-up rig "Deep Driller 8" offshore India for a two firm well + two optional well program.The firm period of the Contract, expected to commence following the delivery of the rig from the yard in the first quarter of 2009, is likely to last for 150 days with an estimated revenue of USD 30 million during the firm period.The stock was trading at Rs.2600, up by Rs.31.90 or 1.24%. The stock hit an intraday high of Rs.2610 and low of Rs.2565.The total traded quantity was 15552 compared to 2 week average of 91531.

Prithvi Info adds 8 new clients in Q1

Key takeaways from Prithvi Information Solution Ltd
Company added 8 new clients in Q1.
Net sales up 60.7% at Rs 383 Cr; PAT up from Rs 28.3 Cr to Rs 43.26 Cr
Company ecoects order book of $ 22-25 mn in FY09 fom India
EBDITA margin of 13.4%
Major customers from India & Middle East
$ 50 mn hedge for FY09; Range $ 41-42. Company will makle losses on hedging if rupee goes beyond 42.93.
Employees: offshore: 89.5; onshore: 10.5
Major chunk of revenue comes from telecom

Thermax receives order worth Rs 415 crore

Thermax Ltd has announced that the Company has received an order of Rs 415 crore, from a leading steel making Company, for setting up a captive power plant for their upcoming Blast Furnace Complex on an EPC basis. The captive power plant will use the waste gas from the furnace to produce power.

This order is a part of the 4.2 MTPA Steel capacity expansion of the customer. Thermax scope includes design, engineering, manufacture, supply, erection and commissioning of captive power plant with blast furnace gas fired boilers, steam turbine generators and balance of plant.

The stock closed the day at Rs.451.15, up by Rs.14.55 or 3.33%. The stock hit an intraday high of Rs.456.85 and low of Rs.434.

The total traded quantity was 21015 compared to 2 week average of 36173.

Suzlon's order-book stands at Rs 16,500-crore

Suzlon Energy, has Rs 16,500-crore worth orders on hand, a top company official said

"We have a good order pipeline with export orders of Rs 15,000-crore and domestic orders of Rs 1,450-crore as on June 30, 2008. The export order includes Rs 7,000-crore from the US, Rs 2,500-crore from China, Rs 2,200-crore from Australia, Rs 3,200-crore from Europe and Rs 1,450-crore from DLF in India," Suzlon Energy's Chairman and Managing Director, Mr Tulsi Tanti, said here on Monday.

Our 3,000 MW capacity expansion plan is progressing on track. Most of the orders would be executed in the current financial year, while partly US orders will be executed in the next fiscal year, Mr Tanti said.
The company is hopeful of growing at 50 per cent as compared to 20-25 per cent growth world-wide. "The oil price hike and climate change concerns have increased the demand of wind energy. The opportunity for renewal energy is immense with the increas ing cost of fossil fuels and its diminishing supplies," he said. - PTI

L&T, Punj Lloyd join team for $200-b Al Noor project

This huge project, conceptualised by Sheikh Tarek Bin Laden, brother of Osama Bin laden, whose company Al Noor Holding Investment, will be responsible for its execution in phases to be spread over 12-15 years.

Two Indian firms, Larsen & Toubro and Punj Lloyd, figure in the list of several international companies that have teamed up to implement the multi-billion dollar construction project to be complete with two new modern cities, one each near Djibouti and the other at Yemen, and a massive rail-road-pipeline network across the Red Sea, connecting the two cities.
This was revealed here on Monday at a press conference where the project was formally announced. More than 200 journalists from nearly 80 countries attended the conference. The Prime Minister of Djibouti, Mr Dileita Mohamed Dileita, and the brother of Osama Bin Laden, Sheikh Tarek Awad Mohammed Bin Laden, among others, were present.

Expectations

Several top US companies as well as experts are believed to be closely associated with this huge project which has been conceptualised by Sheikh Tarek Bin Laden, whose company, Al NoorHolding Investment, will be responsible for its execution in phases to be spread over 12-15 years.
The estimated cost is more than $200 billion. Sheikh Tarek, however, declined to talk to the media. Later, talking to Business Line, Eng. Mohammed Ahmed Al Ahmed, CEO of Al Noor Holding Investment, expressed the hope that more Indian companies would come forward to participate in the project.
“We’ve to mop up resources, both technical and others, from all over the world and we have already received encouraging response from leading international firms,” he said.

Gearing up

“Funds will be no constraint.” Al Noor Alliance, which has already been formed, is a group of about 50 world-class companies, including India’s L&T and Punj Lloyd, to be responsible for the management of this project. The representatives of the Indian members of the Alliance, however, were not immediately available in the conference for comment.

Connecting continents

“We are planning to connect just not two cities but the two continents, the Horn of Africa and the Arabian Peninsula, and to open an entirely new trade route between Africa and the West Asia, which will also benefit the Indian sub-continent,” Mr Mohammed Ahmed Al Ahmed observed.
The Prime Minister of Djibouti, in his, speech, reaffirmed his government’s commitment to the project. “Now that the project is to be shortly launched from Djibouti, we’ll extend full support to it,” he said.

Indiabulls Real Estate to set up 2640 MW power project in Madhya Pradesh

Indiabulls Real Estate Ltd has announced that Indiabulls Power Services Ltd (IPSL), a 100% subsidiary of Indiabulls Real Estate Ltd (the Company), has entered into a Memorandum of Understanding (MOU) with Government of Madhya Pradesh for setting up of 2640 MW power project to be set up in two stages of 1320 MW each, in the State of Madhya Pradesh. In terms of the MOU, the Government of Madhya Pradesh shall facilitate and extend all reasonable help and assistance to IPSL for setting up the aforesaid project.

The stock closed the day at Rs.299.65, up by Rs.35.60 or 13.48%. The stock hit an intraday high of Rs.309 and low of Rs.268.

The total traded quantity was 1986501 compared to 2 week average of 936798.

ABB India wins Rs 455 crore smelter order from Vedanta Aluminum

ABB, the leading power and automation technology group, has won orders worth Rs 455-crore from Vedanta Aluminum Ltd to provide automation and power products, systems and solutions for expansion of their aluminum smelter plant at Jharsuguda, in Orissa.

ABB will design, supply, build and commission 24 sets of high power diode rectifier systems for four aluminum potlines. "ABB automation and electrical systems will become the manufacturing backbone of this smelter plant," said Biplab Majumder, Managing Director, ABB India. "The combination of standard ABB products and systems and our primary metals and minerals expertise creates an unbeatable offering for customers in terms of productivity reliability and energy efficiency".

The expansion will double the smelter's production capacity of aluminum ingots, rods and rolled products. ABB's scope of supply also includes a new 400 / 220-kilovolt (kV) switchyard to supply the new smelter plant with reliable power, as well as a high-performance process control system with fiber optic current sensors and an ABB MicroSCADA control system for the power distribution network, substation switching bays, power and station transformers.

ABB has already supplied rectifier systems for phase one of the Jharsuguda plant expansion in 2007-08. When phase two is complete in 2010, Vedanta's total aluminum smelting capacity at Jharsuguda will be approximately 1,700,000 tons per annum (tpa), making it one of the largest aluminum plants in the world.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of Companies operates in around 100 countries and employs about 115,000 people.

Reliance Infrastructure and Shanghai Electric signs Framework Agreement for Long Term Strategic Cooperation in Indian Power Sector

Reliance Infrastructure (RELINFRA), a part of Anil Dhirubhai Ambani Group, signed a Framework Agreement for Long Term Cooperation with Shanghai Electric Corporation Ltd (SEC), China for various identified areas in Indian Power Sector today.

The Framework Agreement covers the following:

1. SEC to give RELINFRA its "Most Favoured Customer" status pursuant to which SEC to give priority to RELINFRA for design, advance technology, engineering specifications, manufacturing and delivery, quality, price and payment terms.

2. RELINFRA to give SEC "Most Favoured Supplier" status for the Power Plants being developed by Reliance Power Ltd (RELPOWER), and other Projects in India provided that SEC satisfies and fulfills the technical requirement of the relevant project and offers competitive price.

3. Subject to requisite approvals, both parties will cooperate in the following areas: To set up Manufacturing Facilities in India for manufacture of BTG Packages and / or parts thereof. The broad contours of the same will be finalized with in 6 months.

4. Framework Agreement to be valid for five (5) Years.

The stock closed the day at Rs.908.15, down by Rs.78.90 or 7.99%. The stock hit an intraday high of Rs.980 and low of Rs.900.10.

The total traded quantity was 1336265 compared to 2 week average of 1811122.

Tech Mahindra wins US$ 700 Million systems Transformation Program at BT

Tech Mahindra on July 21, 2008 announced that the Company has been selected by BT Group as the preferred vendor for a five year systems and process transformation program generating incremental revenues for Tech Mahindra of approximately USD 700 million. Tech Mahindra will be assisting BT in accelerating BT Group's transition to the platform-based services strategy focused on improving its customers' experience of right first time and cycle time. Radically reducing the systems estate and significantly simplifying the customer experience will be the key outcomes.

BT and Tech Mahindra are currently in a planning phase for the project and more details will be announced at the appropriate time.

Tech Mahindra and BT Group have worked together for over 20 years on a range of projects in IT, Infrastructure and Business Process Outsourcing which have proved very successful for both parties. The proposed deal builds upon and strengthens the productive working relationships developed during that time. Sanjav Kalra President, Tech Mahindra, said, "Tech Mahindra is delighted to play a central role in this transformation program that is so critical to achieving BT's long term business goals.

The stock closed the day at Rs.679.10, up by Rs.12 or 1.80%. The stock hit an intraday high of Rs.682 and low of Rs.657.The total traded quantity was 38800 compared to 2 week average of 34655.

IVRCL Infrastructures Bags Orders Worth Rs 351.21 Crores

IVRCL Infrastructures & Projects Ltd has announced that the Company has received new orders of the value of Rs 351.21 Crores.

The Buildings Division has bagged an order for Construction of Research Buildings Complex and Providing Infrastructure facilities for IGCARL (Part-II) at Pulivendula, Kadapa District from Andhra Pradesh Industrial Infrastructure Corporation Ltd worth Rs 98.36 Crores.

The Buildings Division has bagged another contract for Construction of Traffic and Transit Management Center (TTMC) under JNNURM Scheme - Package 4 (Yeshwanthur) from Bangalore Metropoltan Transport Corporation, Bangalore for Rs 79.50 Crores.

The Buildings Division bagged a contract for Main Civil Works for the construction of proposed Shopping Mall with Multiplex at No.69, Lal Bagh Fort Road, Bangalore from Pride Malls Pvt Ltd, Bangalore worth Rs 65.15 Crores.

The Water Division received a contract for Construction of 140 ML Master Balancing Reservoir and associated works at Bhandup Complex from Municipal Corporation of Brihan Mumbai worth Rs 76.20 Crores.

The Water Division bagged another Pipeline Project from Reverse canal to various tanks of Idar Taluka & Vadali taluka of Sabarkantha District from Narmada Water Resources, Gujarat worth Rs 32.00 Crores.

PBA Infrastructure receives contract from HPCL worth Rs 18.84 Crore

PBA Infrastructure Ltd has announced that the company has been awarded a contract for Site Leveling, Construction of Roads Drains and culverts etc at Calico Land from Hindustan Petroleum Corporation Ltd.The Tender Amount Accepted is (Rs) 18,84,53,000.00 (Eighteen Crores Eighty Four Lacs Fifty Three Thousand only).The Stock closed the day at Rs.50.50, down by Rs.0.05 or 0.10%. The stock hit an intraday high of Rs.51.35 and low of Rs.50.The total traded quantity was 2491 compared to 2 week average of 7241.

GE Shipping sets sail on placing order for 2 vessels

Great Eastern Shipping Company rose 2.77% to Rs 351 at 10:41 IST on BSE after it placed order with Hyundai Heavy Industries, South Korea for two Suezmax crude carriers of approximately 1.58 lakh dead weight tonne each.
The company made this announcement during trading hours today, 18 July 2008.
Meanwhile, the BSE Sensex was up 23.08 points, or 0.18%, to 13,134.93, helped by a 10% decline in oil prices this week.
On BSE, 9,934 shares were traded in the counter. The scrip had an average daily volume of 1.10 lakh shares in the past one quarter.
The stock hit a high of Rs 353.90 and a low of Rs 345 so far during the day. The stock had a 52-week high of Rs 572 on 31 December 2007 and a 52-week low of Rs 273.50 on 22 August 2007.
The mid-cap company had underperformed the market over the past one month till 17 July 2008, declining 24.13% compared to the Sensex’s decline of 14.98%. It had outperformed the market in the past one quarter, declining 14.70% compared to Sensex’s decline of 20.44%.
The company has an equity capital of Rs 152.52 crore. Face value per share is Rs 10.
The current price of Rs 351 discounts its Q4 March 2008 annualised EPS of Rs 78.65, by a PE multiple of 4.46.
These two vessels are to be delivered in August 2001 and October 2011 respectively. With this contract, the company's current new building order book stands at 14 vessels of 11.7 lakh dead weight tonne.
Great Eastern Shipping Company’s net profit rose 24.3% to Rs 299.41 crore on 35.8% increase in net sales to Rs 737.98 crore in Q4 March 2008 over Q4 March 2007.
The company has two main businesses, shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India).

Punj Lloyd receives order from Spain worth US$ 108 Million

Punj Lloyd Ltd has announced that the Company has received an order from Tecnicas Reunidas, Spain for an approx. value of US Dollar 108 million towards mechanical works on 2 Offsites & Utilities Project of Abu Dhabi Polymers Company, UAE.The scope of the work involves Steel Erection, Piping Fabrication & Erection, Equipment Erection, Painting & Insulation.The stock was trading at Rs.213.95, up by Rs.4.05 or 1.93%. The stock hit an intraday high of Rs.217.60 and low of Rs.209.The total traded quantity was 975251 compared to 2 week average of 1387016.

BGR Energy bags Rs 4900 cr order for thermal project

Engineering company BGR Energy on Wednesday said the company has received an order worth Rs 4,900.06 crore from Rajasthan Rajya Vidyut Utpadan Nigam for a thermal power project in the state.
In a filing to Bombay Stock Exchange, the company said it has received EPC contract for 2x600 MW Kalisindh thermal power project at Jhalawar, Rajasthan.
The scope of project includes engineering, supply of plant equipments and control systems. BGR would also provide necessary civil, structural and architectural works for putting the thermal power station into operations.
The project is scheduled to be completed within a period of 42 months.
The company said this project would have two of Asia's tallest natural draft cooling towers. It would be a zero discharge power station meeting the stringent environmental standards.
Last month the company had secured a contract from Tamil Nadu Electricity Board for 1x600 MW power project at Mettur.
Scrip of the company jumped as much as 16.22 per cent on Bombay Stock Exchange and was quoted at Rs 253.95 in afternoon trade.

Large order electrifies BGR Energy

BGR Energy Systems rose 5.7% to Rs 262.10 at 12:57 IST on BSE after the company said on Wednesday, 16 July 2008, it has secured a contract worth Rs 4900 crore for engineering, procurement and construction of a thermal power project in Rajasthan.

The company made this announcement during trading hours on Wednesday, 16 July 2008, when the stock surged 13.41% to Rs 247.80.
The BSE Sensex was up 460.38 points, or 3.66%, to 13,038.18 on strong cues from global markets. Asian stocks rallied on Thursday, 17 July 2008, propelled by the biggest surge in US bank shares in 16 years and a sharp drop in oil prices, easing the worst fears about the global credit crisis spiraling out of control.
On BSE, 5.44 lakh shares were traded in the counter. The scrip had an average daily volume of 64,900 shares in the past one quarter.
The stock hit a high of Rs 269 and a low of Rs 252 so far during the day. The stock had a 52-week high of Rs 988 on 4 January 2008 and a 52-week low of Rs 209 on 4 July 2008.
The mid-cap company had outperformed the market over the past one month till 16 July 2008, declining 18.95% compared to the Sensex’s decline of 19.88%. It had underperformed the market in the past one quarter, declining 45.26% compared to Sensex’s decline of 23.70%.
The company has an equity capital of Rs 72 crore. Face value per share is Rs 10.
The current price of Rs 262.10 discounts its Q4 March 2008 annualised EPS of Rs 17.73, by a PE multiple of 14.78.
With this latest order, the company’s order book stands over Rs 11,000 crore.
On 2 July 2008, BGR Energy Systems bagged an engineering, procurement and construction (EPC) order worth Rs 3100.06 crore from Tamil Nadu Electricity Board to set up a 600-megawatt power plant at Mettur in the state of Tamil Nadu.
In June 2008, BGR Energy Systems’ oil & gas division bagged a contract worth $9.29 million for manufacture of 70 oil product storage tanks for Aumara oil products depot in Iraq.
BGR Energy Systems reported a net profit of Rs 31.91 crore on net sales of Rs 578.61 crore in Q4 March 2008. The figures of the corresponding previous year period were not available.
BGR Energy Systems is a supplier of systems and equipment for the power, oil and gas, petrochemical and process industries.

Welspun Gujarat secures new orders of Rs 3000 Crores, order book soars to Rs 7700 Crores

Welspun Gujarat Stahl Rohren Ltd. (WGSRL), the 2nd largest line pipe Company in the World won orders worth Rs 3000 Crores from India and overseas. With these orders, the current order book position of the company stands at Rs 7700 Crore including the orders executed during the 1st quarter, FY09. The overseas orders are primarily from diversified markets including the American continents.

Speaking on the occasion, Mr. B K Goenka, Vice Chairman and Managing Director of Welspun said, "These orders in the first quarter have marked a strong beginning and reinstates Welspun's credibility as a Company which strives for Engineering Excellence. I am confident that the momentum of such orders will continue and pave our way to be the most respected line pipe Company in the World."

It may be noted that Welspun recently announced commissioning of its state-of-the-art Plate mill with a capacity of 1.5 million ton. Plates produced (of up to 4.5 meters wide, X70 grade) from this facility will be primarily used to produce the LSAW pipes and other high-end applications.

The Stock closed the day at Rs.304.05, down by Rs.7.75 or 2.49%. The stock hit an intraday high of Rs.315 and low of Rs.300.

The total traded quantity was 170355 compared to 2 week average of 223937.

Aban Offshore arm extends drilling contract with ExxonMobil

Aban Offshore Ltd has announced that Venture Drilling AS, in which the Company's subsidiary Aban Singapore Pte Ltd (ASPL) has a 50% indirect shareholding, has agreed with ExxonMobil for a six month extension of the present drilling contract, in direct continuation and on same terms (at an Operating Day Rate of USD 425,000 after withholding tax). The extended period is likely to Last till July 2009.

The stock closed the day at Rs.2814.05, up by Rs.106.70 or 3.94%. The stock hit an intraday high of Rs.2842 and low of Rs.2678.

The total traded quantity was 68312 compared to 2 week average of 92775.