Market firms up as presentation of Railway Budget starts
The market firmed up in the early afternoon, just as Railway Minister Lalu Prasad Yadav started presenting the Railway Budget. IT bellwether Infosys had pared losses, but RIL remained subdued. Battered cement pivotals recovered, while FMCG pivotals edged higher.
The market-breadth turned positive from negative. Against 1,268 shares rising on BSE, 1,025 declined. Just 62 shares were unchanged. Gainers outpaced losers by a ratio of 1.23:1.At 12:07 IST the Sensex was up 66 points, at 13,698, down from 14,614 of 11:16 IST. Earlier, the market had swung wildly and the Sensex had slipped into the red after a firm opening, only to come off the lower level.
McNally Bharat Engg spurts on winning fresh project
McNally Bharat Engineering Company surged 5% to Rs 168.90, after its consortium with Tyazpromex Port (TPE), Russia, secured a contract worth Rs 688 crore.
The contract is for the construction of a third sinter plant by Rashtriya Ispat Nigam (RINL) at their Visakhapatnam. Under the project, the value of the McNally Bharat Engineering (MBE)'s portion is Rs 555.67 crore.
As many as 40,611 shares changed hands in the counter on BSE, with pending buy orders for 4,584 shares at the maximum limit.The MBE stock has slowly but steadily declined to Rs 160.90 by 23 February 2007, from Rs 180.85 on 5 February 2007.
In December 2006, McNally Bharat Engineering Company had received a Rs 39.92 crore order from Vedanta Aluminium.
McNally Bharat Engineering is a joint venture between the BM Khaitan and CK Birla groups. The company is into turnkey projects, and banks heavily on capacity expansion works of steel companies.
McNally Bharat Engineering is also into manufacturing of material handling and mineral processing equipment and pumps, thickeners and floatation cells. It has two plants at Kumardhubi in Jharkhand and at Bangalore.
MBE is planning to foray into production of industrial gear-boxes in technical and financial collaboration with a foreign player.In October 2006, Mcnally Bharat Engineering Company had announced completion of a $10-million FCCB issue. The bonds are convertible at a minimum price of Rs 143 per share.The MBE’s current equity base is Rs 26.78 crore.
The market-breadth turned positive from negative. Against 1,268 shares rising on BSE, 1,025 declined. Just 62 shares were unchanged. Gainers outpaced losers by a ratio of 1.23:1.At 12:07 IST the Sensex was up 66 points, at 13,698, down from 14,614 of 11:16 IST. Earlier, the market had swung wildly and the Sensex had slipped into the red after a firm opening, only to come off the lower level.
McNally Bharat Engg spurts on winning fresh project
McNally Bharat Engineering Company surged 5% to Rs 168.90, after its consortium with Tyazpromex Port (TPE), Russia, secured a contract worth Rs 688 crore.
The contract is for the construction of a third sinter plant by Rashtriya Ispat Nigam (RINL) at their Visakhapatnam. Under the project, the value of the McNally Bharat Engineering (MBE)'s portion is Rs 555.67 crore.
As many as 40,611 shares changed hands in the counter on BSE, with pending buy orders for 4,584 shares at the maximum limit.The MBE stock has slowly but steadily declined to Rs 160.90 by 23 February 2007, from Rs 180.85 on 5 February 2007.
In December 2006, McNally Bharat Engineering Company had received a Rs 39.92 crore order from Vedanta Aluminium.
McNally Bharat Engineering is a joint venture between the BM Khaitan and CK Birla groups. The company is into turnkey projects, and banks heavily on capacity expansion works of steel companies.
McNally Bharat Engineering is also into manufacturing of material handling and mineral processing equipment and pumps, thickeners and floatation cells. It has two plants at Kumardhubi in Jharkhand and at Bangalore.
MBE is planning to foray into production of industrial gear-boxes in technical and financial collaboration with a foreign player.In October 2006, Mcnally Bharat Engineering Company had announced completion of a $10-million FCCB issue. The bonds are convertible at a minimum price of Rs 143 per share.The MBE’s current equity base is Rs 26.78 crore.
Labels: McNally Bharat Engineering
posted by SY at 12:50 PM
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