Infrastructure firm Larsen & Toubro (L&T) has sold its petroleum dispensing pump (PDP) business to US-based Gilbarco Veeder-Root for an undisclosed amount.
Infrastructure firm Maytas Infra today said it has an order book of Rs 8,000 crore even after being dropped by the Andhra Pradesh government from the Rs 12,000-crore Hyderabad Metro Rail project.
“When completed, these projects could add Rs 400 crore to our net profit from the next financial year and about 40 per cent of this should materialise in the current financial year, which is good in this kind of market,’’ said Lanco’s CFO Venkatesh Babu.
Infrastructure firm Hindustan Construction Company announced a net profit after tax of Rs 108.77 crore for the year ended March 31, 2008, a 37.19 per cent increase over the corresponding period previous year.
The Securities and Exchange Board of India (Sebi) today eased the rules for government-owned infrastructure companies for raising funds through initial share offerings by doing away with the mandatory
Infrastructure companies public and private are diversifying into the real estate sector after realising the potential of the sector and to offset the cost of ongoing projects.
Network Solutions, a Bangalore-based Rs 140 crore IT infrastructure firm founded by Sudhir Sharma, is being acquired by Big Blue. No financial details were disclosed.
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