Engineering Sector

Elecon Engineering secures order worth Rs 177.50 million

Elecon Engineering secures order worth Rs 177.50 millionElecon Engineering Company, a leading manufacturer of mechanical handling equipment has made announcement that the company has been awarded Rs 177.50 million order by Chennai based Techpro Systems.

 As per the contract, the company (Elecon Engineering) will design, engineer, manufacture, test, supply, fraction and commission of material handling equipments and other equipments for Techpro Systems.

On the other hand, Techpro Systems will provide one each of unidirectional stacker cum reclaimer and slewing boom stacker.

L&T Net Up 32% in Q2, Sales Rise 40% At Rs 7,786 Crore

Larsen & Toubro recorded 32 percent more net profit in the second quarter ending on September 30 as compared to the profit of previous year. Its profit stood at Rs 348 crore in the same period of last year. 

The overall sale is also increased by 40 per cent at Rs 7,786 crore. The company secured more orders worth Rs 12,453 crore. The machinery & industrial products segment registered a16 percent growth with revenues of Rs 685 crore.

The company said in a statement that it is fully aware of the global financial situation. It is studying the affect of global scenario on the growth plan of company. 

Siemens forms new subsidiary for Rail Transportation Sector

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.

Sell L&T

Karvy Stock Broking Limited has suggested investors to ‘sell’ Larsen & Sell L&TToubro 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. 

Elecon Engineering secures three orders worth Rs 51.74 crore

Elecon Engineering secures three orders worth Rs 51.74 croreIndia’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. 
 

BHEL picks Rs 990 crore contract from RRVUNL

State-run Bharat Heavy Electricals has made announcement that the company has BHEL picks Rs 990 crore contract from RRVUNLsecured 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.

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