Infrastructure Sector

IRB Infrastructure Developers and Finolex Cables: ShareKhan Stock Recommendations

IRB Infrastructure Developers and Finolex Cables: ShareKhan Stock Recommendations

Stock market research house and brokerage ShareKhan has recommended hold for Finolex Cables and Buy for IRB Infrastructure Developers in its latest stock recommendation report.

HCC Q4 net profit soars 94%; declares dividend @ 80%

HCC Q4 net profit soars 94%; declares dividend @ 80% Despite a difficult economic year, HCC, the engineering construction and infrastructure development company, has reported net profit of Rs 51.4 crore for the quarter ended March, 31,2009 compared with Rs 26.41 crore in the corresponding previous quarter.

The company has registered a growth of 94.47 per cent in its fourth quarter's net profit.

However, company's net sales during the quarter dipped to Rs 1,049.86 crore from Rs 1,071.73 crore last year, down by 2.04 per cent.

Punj Lloyd bags three orders worth Rs 308 crore

Punj Lloyd bags three orders worth Rs 308 crorePunj Lloyd Group, the diversified engineering, procurement and construction (EPC) Conglomerate, today announced three prestigious contracts worth Rs 308 crore for the construction of eight stations from the Bangalore Metro Rail Corporation.

The group is currently constructing Singapore’s Mass Rail Transit (MRT) Downtown Line’s Bayfront station at the Marina Bay, and a section of the MRT Circle Line besides projects for Delhi Metro.

Buy GMR Infra

Buy GMR InfraKarvy Stock Broking Limited has maintained ‘Buy’ rating on GMR Infrastructure Limited stock to achieve a target of Rs 116 within 3-4 days.

According to Karvy, day traders can buy the stock between Rs 104-106 with a stop loss of Rs 100.

Shares of the company, on Monday (April 13), closed at Rs 106.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 0.69 and 161.74 respectively. The share price has seen a 52-week high of Rs 169.90 and a low of Rs 45.60 on BSE.

NHAI To Raise Rs 3,000 Cr In FY10 Via Tax-Free Bonds

National Highways Authority of India (NHAI) With the intention to fund the road projects, highways regulator the National Highways Authority of India (NHAI) announced that it has decided to raise Rs 3,000 crore during the existing fiscal through tax-free bonds.

To get a loan of about Rs 2,000 crore to fund road projects, the highways regulator is also making discussions with the Asian Development Bank (ADB).

Didar Singh, NHAI Member (Finance), said, “We have fixed a target of raising Rs 3,000 crore through tax-free bonds in the financial year 2009-10. The bonds will hit the market very soon.”

L&T wins various orders worth 605 crore

Larsen & ToubroEngineering and construction firm Larsen & Toubro has informed that it has bagged various orders worth Rs 605 crore in the last quarter of financial year 2009.

Providing details regarding the latest orders bagged, the company said, that it has received Rs 165 crore order from the Andhra Pradesh Government for supplying potable water, which has to be completed in 15 months.

Further, the company has received Rs 133 crore order from the Delhi Jal Board for designing and laying pipelines. The project is scheduled to be completed in 21 months.