Sharp differences have emerged within the government over the performance of power equipment manufacturer BHEL and the need for setting up another state-owned supplier to meet the electricity shortfall.
Bharat Heavy Electricals Ltd on Monday said it has achieved its biggest ever breakthrough in overseas markets with a turnkey contract worth $457 million for setting up a 500 MW steam power plant in Sudan.
'I have no idea about such a medal. Never got one,' says Surya Shekhar Ganguly, the national chess champion between 2003 and 2008.
Going ahead with the sale of part of its equity in Bharat Heavy Electricals Ltd despite opposition from the Left, the UPA government has invited expression of interest from investment bankers for the divestment.
Government currently holds 67.72 per cent equity in BHEL.
Narayanan has a long and distinguished career at ISRO, having played a key role in several important missions, including Chandrayaan-2 and 3, and the Gaganyaan programme.
The wide variety of street food defines the culinary adventure India is. We love gorging on Bhel Puri, Papdi Chaat, pakoras, Dabeli, momos? The list is exhausting. And there are lots of lesser-known snacks too! Mayur Sanap/Rediff.com takes you on a tour.
Sarah Todd's bhel puri was a treat for the MasterChef judges's taste buds.
BHEL officials had inspected the site in Singur earlier this month where the state government proposed to set up a 1600 MW mega power plant as a joint venture. Railway minister Mamata Banerjee had last week said the Railways would set up a rail coach factory in the site jointly with the state government or under a PPP model.
Bharat Heavy Electricals Ltd, the country's largest power equipment manufacturer, is hopeful of getting orders worth Rs 55,000 crore within the financial year ending March 2010.
Bharat Heavy Electricals Ltd has bagged a Rs 2,125 crore (Rs 21.25 billion) worth contract from National Thermal Power Corp for setting up Stage-III of the 1,000 mw Vindhyanchal Super Thermal Power Station in Madhya Pradesh.
The domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
The joint venture agreement is likely to be signed before the end of the current year and once that is done, tendering for the plant and machinery will follow, he said, adding this might take place before the end of the current fiscal.
The buyback price is at around 28 per cent premium to the current market price of Rs 67 on the Bombay Stock Exchange
'Let his soul rest in peace...We should all be proud of him in every way. And we will make him proud in every way'
Bharat Heavy Electricals Ltd and EPC contractor Skodaexport joined hands for setting up power generation, transmission and transportation projects outside India.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Midcap stocks Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch, and Samvardhana Motherson are expected to earn upgrades.
Buying stocks during a dip, says Amar Nandu, research analyst, Samco Securities, can lead to higher compounding returns when the uptrend begins.
Imported components account for up to 30% of the firm's total production cost.
Bharat Heavy Electricals, the country's largest power equipment manufacturer, is working on low margins when bidding to supply super-critical equipment for the upcoming ultra mega power projects as it has to import a substantial amount of components from Europe.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
The heavy industries ministry has virtually consented to finance ministry's suggestion for part divestment of government equity in blue-chip PSU Bharat Heavy Electricals Ltd and auto joint venture Maruti Udyog in the current financial year.
In a major commercial deal, Bharat Heavy Electricals Ltd has bagged five major contracts worth over Rs 2,700 crore from India's largest power utility National Thermal Power Corporation.
The government will offload a portion of its equity in Bharat Heavy Electricals Ltd and Maruti Udyog in the market by the end of this fiscal to mop up over Rs 2000 crore (Rs 20 billion).
Bharat Heavy Electricals Ltd has expressed its inability to put up the proposed power project at Tata Motors' abandoned Singur site, in a written communication to the West Bengal Power Development Corporation Ltd.
Public sector Bharat Heavy Electricals Ltd on Tuesday revised upwards its net profit for fiscal 2003-04 at Rs 635.50 crore (Rs 6.35 billion) as against Rs 444.51 crore (Rs 4.44 billion) in the previous fiscal.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
A stalemate continued over the BHEL disinvestment issue with Left parties ruling out any dilution of their opposition to it, after their meeting with United Progressive Alliance chairperson Sonia Gandhi.
BHEL has signed a deal with Abengoa to set up solar power projects
Equity investors will track the trading activity of foreign investors, global trends and ongoing earnings results for further cues, and benchmark indices may continue to witness consolidation in a holiday-shortened week amid the monthly derivatives expiry, analysts said. Markets fell sharply last week amid massive foreign capital outflows and dismal Q2 earnings so far. Weakness in the markets might continue in the near term amid cautiousness among investors ahead of the US presidential election early next month, an expert said.
The domestic solar equipment industry is grappling with tough market conditions, mainly on account of cheaper imports from China.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
A number of private companies have contributed to the development of ISRO's Chandrayaan-3 spacecraft which successfully landed near the south pole of the Moon on Wednesday evening.
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