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L&T to foray into arms and ammunition
Engineering and construction major Larsen & Toubro has plans to foray into arms and ammunition to widen its defence equipment portfolio, reports Business Standard.
The company is in negotiation with two European companies for a technological tie-up in this field. It will initially manufacture small arms and later graduate to ammunition, including explosives.
It will be the first private Indian player to produce arms and ammunition and has secured the necessary licence from the centre.At present, the state-run Ordinance Factory is the only manufacturer of small arms supplied to the government.
L&T has already acquired 240 acres of land in Coimbatore in Tamil Nadu, which will house component manufacturing for small arms. The company was planning an assembly unit near Mumbai for small arms.
In 2001, India opened the defence industry to private investment and allowed foreign direct investment of up to 26 % in select areas.Some of the major non-public sector industry participants supplying defence equipment and services include Mahindra & Mahindra, the Tata group, Kirloskar Brothers, Ashok Leyland, Jindal, Max Aerospace and Aviation and Ramoss India.
RIL to complete its pipeline project by mid-2008
Reliance Industries (RIL), the country`s largest private sector exploration and production company, is expecting to complete its 1,400 km pipeline to transport gas from its fields on the offshore Krishna-Godavari basin to its customers on the west coast by the middle of 2008, reports Business Standard.
The Rs 50 billion pipeline, which will run from Kakinada on the Andhra Pradesh coast to Jamnagar in the west, will ensure that the entire gas requirement of RIL is met from its KG basin production.
The KG basin fields are expected to produce 80 million standard cubic metres per day (mmscmd). The completion of the pipeline will be synchronised with the first gas from the fields.The pipeline is also expected to give gas-starved industries access to gas. The current deficit in natural gas demand-supply in the country is pegged at 100 mmscmd.
The project is being implemented by RIL`s wholly-owned subsidiary Reliance Gas Transportation Infrastructure.Meanwhile, speaking at the annual general body meeting of group company Indian Petrochemicals Corporation (IPCL), Mukesh Ambani, the group chairman, outlined Rs 350 crore plans for IPCL.
These include expansion of the gas cracker capacity by 12,000 tonne at the Baroda plant, the gas-processing capacity at Gandhar from 9 to 11 mmscmd and the cracker capacity at Gandhar by 65,000 tonne.
TCI acquisition boosts Thomas Cook at BSE
Shares of Thomas Cook are currently trading higher by 6% at the bourses after the company on Friday announced its acquisition of Travel Corporation of India for Rs 1.82 billion. A total of 20,626 shares have been traded at the BSE so far. The shares are trading at Rs 595 (11.34 am), compared with its previous close of Rs 561.5 ( Friday).
Thomas Cook acquired Travel Corporation India for a cash consideration of Rs 1.82 billion. TCI which will become a wholly owned subsidiary of the company but will continue to operate as a separate legal entity.
The deal would bring together two successful players in the Indian travel and tourism space. It shall help consolidate its position in the inbound travel segment, which is in line with Thomas Cook`s objective to establish Thomas Cook India as among the largest players in India.
The combined businesses of the company, LKP Forex and TCI will make the Group one of the largest travel and tour operators in India apart from being the largest in forex.
The stock has moved up 15.43% over the week and 10.16% over the month.
Engineering and construction major Larsen & Toubro has plans to foray into arms and ammunition to widen its defence equipment portfolio, reports Business Standard.
The company is in negotiation with two European companies for a technological tie-up in this field. It will initially manufacture small arms and later graduate to ammunition, including explosives.
It will be the first private Indian player to produce arms and ammunition and has secured the necessary licence from the centre.At present, the state-run Ordinance Factory is the only manufacturer of small arms supplied to the government.
L&T has already acquired 240 acres of land in Coimbatore in Tamil Nadu, which will house component manufacturing for small arms. The company was planning an assembly unit near Mumbai for small arms.
In 2001, India opened the defence industry to private investment and allowed foreign direct investment of up to 26 % in select areas.Some of the major non-public sector industry participants supplying defence equipment and services include Mahindra & Mahindra, the Tata group, Kirloskar Brothers, Ashok Leyland, Jindal, Max Aerospace and Aviation and Ramoss India.
RIL to complete its pipeline project by mid-2008
Reliance Industries (RIL), the country`s largest private sector exploration and production company, is expecting to complete its 1,400 km pipeline to transport gas from its fields on the offshore Krishna-Godavari basin to its customers on the west coast by the middle of 2008, reports Business Standard.
The Rs 50 billion pipeline, which will run from Kakinada on the Andhra Pradesh coast to Jamnagar in the west, will ensure that the entire gas requirement of RIL is met from its KG basin production.
The KG basin fields are expected to produce 80 million standard cubic metres per day (mmscmd). The completion of the pipeline will be synchronised with the first gas from the fields.The pipeline is also expected to give gas-starved industries access to gas. The current deficit in natural gas demand-supply in the country is pegged at 100 mmscmd.
The project is being implemented by RIL`s wholly-owned subsidiary Reliance Gas Transportation Infrastructure.Meanwhile, speaking at the annual general body meeting of group company Indian Petrochemicals Corporation (IPCL), Mukesh Ambani, the group chairman, outlined Rs 350 crore plans for IPCL.
These include expansion of the gas cracker capacity by 12,000 tonne at the Baroda plant, the gas-processing capacity at Gandhar from 9 to 11 mmscmd and the cracker capacity at Gandhar by 65,000 tonne.
TCI acquisition boosts Thomas Cook at BSE
Shares of Thomas Cook are currently trading higher by 6% at the bourses after the company on Friday announced its acquisition of Travel Corporation of India for Rs 1.82 billion. A total of 20,626 shares have been traded at the BSE so far. The shares are trading at Rs 595 (11.34 am), compared with its previous close of Rs 561.5 ( Friday).
Thomas Cook acquired Travel Corporation India for a cash consideration of Rs 1.82 billion. TCI which will become a wholly owned subsidiary of the company but will continue to operate as a separate legal entity.
The deal would bring together two successful players in the Indian travel and tourism space. It shall help consolidate its position in the inbound travel segment, which is in line with Thomas Cook`s objective to establish Thomas Cook India as among the largest players in India.
The combined businesses of the company, LKP Forex and TCI will make the Group one of the largest travel and tour operators in India apart from being the largest in forex.
The stock has moved up 15.43% over the week and 10.16% over the month.
posted by SY at 12:35 PM
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