Engineering goods manufacturer Siemens Ltd has established a new, wholly-owned subsidiary company ‘Siemens Rolling Stock Pvt Ltd (SRSPL)’ to tap the potential in the Indian rail transportation sector. 

The recently formed firm is a 100 per cent subsidiary of Siemens Ltd, which would handle the Rolling Stock business in India. 

The latest moves comes in the wake of company’s buying land at Aurangabad to set up a facility to manufacture rolling stock, comprising coaches for trains and metros. 

According to the company, the rail transportation sector in India presents a huge business potential with many project plans being announced by the government.

Karvy Stock Broking Limited has suggested investors to ‘sell’ Larsen & Toubro Limited (L&T) stock with a target of Rs 940.

According to Karvy, interested investors can sell the stock between Rs 995-1000 with a strict stop loss of Rs 1025. 
 
Today (Oct 08), the stock opened weak at Rs 974.80, against its last closure at Rs 1008.10 on the Bombay Stock Exchange (BSE) on Tuesday (Oct 07). Current EPS & P/E ratio stood at 39.31 and 24.12 respectively. The share price has seen a 52-week high of Rs 2335 and a low of Rs 994 on BSE. 

India’s leading material handling equipments maker Elecon Engineering Company Ltd, has secured three orders worth Rs 51.74 crore from different clients. 

The scope of work involves design, engineering, manufacturing, testing, supplying, erecting and commissioning of material handling and other equipments. 
 
The company has picked first contract worth Rs 15.50 crore from Techpro Systems, Chennai. Under the arrangement it will supply one stacker, one bucket wheel reclaimer and one lot drives for SAIL-RMD-BOLANI Iron Ore mines project. 
 

State-run Bharat Heavy Electricals has made announcement that the company has secured an order worth Rs 990 crore from Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL).

Under the terms of the contract, the company will build two units of 250 MW each at Chhabra Thermal Power Station in Rajasthan.

According to the sources, the commissioning of these two units will add 12 million units of electricity every day to the grid.

Patel Engineering Ltd, a leading civil-infrastructure construction conglomerate, has informed that it has secured order worth Rs 695.57 crore from the Andhra Pradesh State Government for the modernization of the Krishna Delta System. 

According to the sources, the project will execute massive modernization programme of the major river delta systems to enhance irrigation potential along the development of Bantumilli Canal, Polarj Canal, Campbell Canal, Dosapadu Channel, Kunderu Channel, East Bank Canal, Gudivada Channel and their distributaries. 

Bharat Heavy Electricals (BHEL) has informed that the company is in talks with Infrastructure Leasing & Financial Services (IL&FS) for financing its overseas operations.

According to the sources, the two conglomerates will soon enter into a memorandum of understanding (MoU), under which IL&FS will offer the financial packages for BHEL`s international project.

With the view to diversify its business footprints in the international business arena, the public sector unit, is eyeing to make its entry in West Asia, Europe and Africa.

The stock analysts have suggested traders to stay invested in BHEL for long term gains.