Interest rate sensitive sectors such as banking, automobiles and real estate will be in focus as the Reserve Bank of India (RBI) will announce its Monetary Policy Statement 2013-14 today, 3 May 2013.
ACC, Ambuja Cements, Titan Industries, JSW Energy, Pfizer, Bajaj Corp, HEG and Honeywell Automation India, among others, will declare their January-March 2013 quarter results today, 3 May 2013.
Reliance Infrastructure announced after market hours on Thursday, 2 May 2013, that the company through its special purpose vehicle (SPV) -- Mumbai Metro One (MMOPL) -- has successfully conducted Mumbai Metro's first trial run. The project is at the advance stage of completion and metro is expected to commence commercial operation by the end of this year.
MMOPL is a SPV created to develop, implement and operate Mumbai's first Metro Line on a public-private-partnership (PPP) model. It is a consortium formed by Reliance Infrastructure, MMRDA and Veolia Transport SA of France. The project was awarded to MMOPL for the concession period of 35 years. Mumbal Metro One corridor is 11.40 km long, providing connectivity from Versova (Western Mumbai) to Ghatkopar (Eastern Mumbai).
Crompton Greaves (CG) and PLNE (PT Prima Layanan Nasional Enjinring) have signed a joint venture (JV) agreement to manufacture and commercialize High Voltage (HV) and Extra High Voltage (EHV) switchgear in Indonesia. PLNE is an engineering company owned by PLN (Perusahaan Listrik Negara), an Indonesian government-owned sole electricity utility company. The joint venture will be owned 51% by CG and 49% by PLNE and will be a part of CG's global organisation.
The JV includes a technology transfer by CG over a period of five years for the production of the entire range of switchgear for the network, from 70 kilovolt (kV) to 500kV, and will be localized through CG's new manufacturing base in Indonesia. Production is expected to commence in 24 months. The focus of the collaboration is to enhance the sustainable operation of the entire transmission and distribution grid in Indonesia. CG's equipment portfolio will also include the production of HV and EHV Switchyard equipment, the range of SF6 Circuit Breakers, Current Transformers, Inductive Voltage Transformers, Capacitor Voltage Transformers and Lightning Arresters. The products manufactured in the new facility in Indonesia will be distributed through CG's marketing network in the South-East Asian markets and the Pacific Region, CG said in a statement.
ALSTOM India won a contract from Bharat Heavy Electricals (Bhel) to supply components and services for the 2x800 megawatts Gadarwara super thermal power plants at Madhya Pradesh. This contract is worth approximately Euro 100 million (Rs 674 crore).
Mumbai-based real estate developer, Godrej Properties (GPL) has entered into a development management agreement with United Oxygen Company, to develop their property situated near Hoody, Whitefield Main Road, Bengaluru. The project will offer approximately 10 lakh square feet of saleable area and will be developed as a residential housing project. The site is strategically located on the Whitefield main road leading to the well-known IT/ITES establishments located in ITPB and EPIP zone of Whitefield. The proposed Phase 2 of the Bangalore Metro will enhance the connectivity to the project. This property also has excellent connectivity to the IT/ITES Belt at Bellandur on Outer Ring Road, the company said in a statement.
Grasim Industries said that with the commissioning of 20 megawatts (MW) Power Plant at company's Viscose Staple Fibre (VSF) Plant at Harihar (Karnataka), the Brownfield Expansion of 36,500 TPA of VSF Capacity at Harihar (Karnataka) has since been completed by the company. The Phase I of 18,250 TPA capacity of VSF had become operational in September 2012.
Tata Communications signed a strategic video contribution and distribution agreement with iStreamPlanet. The agreement combines video transport over Tata Communications' leading global network via its Video Connect and Satellite delivery services with iStreamPlanet's live video workflow service. This move enables both companies to provide multiscreen, live linear streaming services for content owners, aggregators and distributors around the world - making the transport and distribution of live video content easier than ever.
Content providers are under increasing pressure to deliver live streaming video to meet viewer demands for an 'always-on TV-like experience', where they can tune in across multiple devices to access both 'TV anywhere' and 'pop-up' channels. This pressure, coupled with tremendous growth in connected devices and increasing penetration rates in emerging markets requires access to advanced media processing for multiple devices and extended video delivery networks into emerging markets for new revenue opportunities, Tata Communications said in a statement.
Tata Communications' Video Connect and Satellite delivery services provides access to a full set of features which include content acquisition and delivery from (and to) all corners of the globe. Using Tata Communications' global network architecture, customers can transport high quality, live video feeds to iStreamPlanet's live video workflow service, from over 300 locations worldwide. Underpinning these services is Tata Communications' global MPLS network supported by its wholly-owned fibre optic subsea cable ring around the world which brings the reach and reliability needed to interconnect media communities globally, the company said.
The board of AstraZeneca Pharma India has noted the resignation of Luigi Felice La Corte, Director, with effect from 15 April 2013. Further, Justin Ooi has been appointed as a Director of the Company in the vacancy caused by the resignation of Luigi Felice La Corte. The board has also approved the appointment of Sanjay Murdeshwar as an Additional Director and also as Managing Director of the company for a period of 3 years with effect from 2 May 2013. The appointment of Sanjay Murdeshwar as Managing Director is subject to the approval of the Central Government under Part I of Schedule XIII to the Companies Act, 1956.
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