The Mint Report for 17 May 2010

The Mint Report for 17 May 2010

NTPC, India’s biggest power company is all set to float a new tender for so-called super-critical equipment. The order is going to be worth some 19,200 crores. It’s going to be floated after NTPC’s earlier Rs18,000 crore tender for super critical equipment is picked up.

Larsen and Toubro has beaten forecasts. The company’s fourth quarter profits shot up 44% to Rs1,438 crore. Its net sales for the same period jumped 28% to Rs13,375 crore. Also, Larsen and Toubro’s board proposed a dividend of Rs12.50 per equity share on a face value of Rs2 each to shareholders.

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Maruti Suzuki is going to unveil its second expansion plan in as many months. Company chairman R.C. Bhargava it will increase its capacity to produce an extra 250,000 vehicles a year. This is over and above March’s announcement of a 250,000 units-a-year expansion. At present, Maruti can churn out a total of a million vehicles a year at its two facilities in Haryana.

Markets got off to a bad start this week. Taking their cue from Asian markets, Indian equities fell to a two-month low during early hours of trading. But after European markets opened strongly, they made a partial recovery. The Sensex ended the day 159 points down at 16,836. And the Nifty closed with a loss of 34 points at 5,060.