Punj Lloyd clinches a Rs 735 crore BOT Annuity project from NHA

 Punj Lloyd Group subsidiary, Punj Lloyd Infrastructure Limited (PLIL), which has been set up for implementing Infrastructure Development projects,  announced that it has received a Letter of Award from National.Highways Authority of India (NHAI) for upgradation of NH-31 from Khagaria to Purnea in Bihar to a two-laned, undivided carriageway with paved shoulders, under the NHDP III (National Highways
Development Programme – III) on BOT Annuity basis.  The estimated cost of the project is Rs 735 crore. The scope of work involves Design, Build, Finance, Operate and Transfer of the 140 km section of the National Highway. PLIL will form a Special Purpose Vehicle (SPV), which will be signing a Concession Agreement with NHAI for 17 years and will be entitled to semi annual annuities of Rs 56 crore

Markets on a uphill after 3-day fall

It was a stable day for the Indian market which, on positive cues from the US and Asia, traded firm on the back of buying in most sectors, but more particularly in realty, pharma and infrastructure. Frontline stocks led the gainers in today's session but the market, however, gave up some gains in afternoon trade and closed off the day's high. Sensex shut shop at 17988, up 149 points and Nifty at 5413, up 49 points from the previous close.

Jyothy Labs to turnaround Henkel biz

The Mumbai-based Jyothy Laboratories, which last week acquired a 14.9% stake in Henkel India, is looking to aggressively turnaround the business if it triumphs in its bid for parent Henkel AG's 50.97% in the Indian unit.
Jyothy Laboratories's Vice-Chairman Ulhas Kamath said the firm was looking to turn Henkel profitable in a year or two. 'It has to happen as quickly as possible. For that we will use every lever possible from manufacturing to distribution to brand-building,' he said.Mr Kamath admitted that Jyothy Laboratories would have to invest substantially in the first year to revive the health of the business, something that has made investors jittery since the 14.9% acquisition last week.

Jyothy Labs rises on buying Diamond Fabcare

Jyothy Laboratories' arm Jyothy Fabricare Services acquired 100% stake in Delhi-based laundry player Diamond Fabcare to enhance presence in the northern market.
Reacting to this, the shares of Jyothy Laboratories gained over 4% to touch the day's high of Rs208. Till now, over 0.42 lakh shares have traded on the BSE as against the two-week average volume of 1.12 lakh shares.

4 Stocks For This Week

Voltas Ltd,
Cmp:157.60
Action:Buy,
Target:---
Shakthi Pumps India Ltd,
Cmp:128.85,
Action:Buy,
Target:----
Punj Lloyd Ltd,
Cmp:61.60,
Action:Sell.
Jyothy Laboratories Ltd,
Cmp:196.70,
Action:Buy on dips
Target:---

Vodafone leads in number portability

Vodafone's India unit has so far gained the most following India's move allowing mobile users to retain their numbers even when they switch carriers, data from an industry body showed on Friday (March 18, 2011).
But, mobile number portability (MNP), which was launched in a northern state in late November and nationwide from January 20, was not a 'game changer' for the industry, the Cellular Operators Association of India (COAI) said in a statement.
The COAI said less than 5 million subscribers, or less than 1% of the country's total customers, had opted to switch carriers.
Of these, a net 192,761 customers switched to India's third-largest mobile carrier Vodafone Essar, while sixth-ranked Idea Cellular was next, with net gains of 150,789 customers.
Top mobile operator Bharti Airtel gained a net 148,215 customers in MNP, but No. 2 Reliance Communications was a net loser of 306,417 customers, data showed.
With 771 million mobile subscribers as of January, India is the world's second-biggest market for mobile services and with monthly additions averaging 19 million in the past one year, it is the world's fastest growing market.