Tata Power to Explore Setting Plants with Russia Fund

Mukesh Buch
12 Dec, 2014
New York City

Alstom won an order worth 246.20 crore from MSETCL. IL&FS Eng received a contract worth Rs 464 crore from Saudi Binladin Group. Tata Power and Russian Direct Investment Fund agreed to explore setting up power plants in Russia.

[R]6:00 PM Mumbai – Alstom won an order worth 246.20 crore from MSETCL. IL&FS Eng received a contract worth Rs 464 crore from Saudi Binladin Group. Tata Power and Russian Direct Investment Fund agreed to explore setting up power plants in Russia.[/R]

The Sensex Index dropped 251.33 or 0.9% to close at 27,350.68. The CNX Nifty slipped 68.80 or 0.8% to 8,224.10.

For the week, Sensex declined 3.9% and CNX Nifty tumbled 3.6%.

Gainers & Losers

Alstom T&D India Limited fell 0.9% to Rs 444.85 and the power generation company won an order worth 246.20 crore from Maharashtra State Electricity Transmission Co. Ltd.

IL&FS Engineering and Construction Company Limited soared 6.6% to Rs 62.10 after the infrastructure developer said Saudi Arabia-based subsidiary received a contract worth Rs 464 crore from Saudi Binladin Group.

Mastek Limited jumped 3.3% to Rs 270.70 and the insurance company’s U.S.- based subsidiary agreed to acquire Agile Technologies.

Pricol Limited advanced 2.7% to Rs 43.90 after the automotive component maker plans to acquire 99.99% of stake an auto component maker in Brazil.

Suven Life Sciences Limited climbed 4.1% to Rs 218.55 after the bulk chemical and pharmaceutical compounds maker secured a five-product patents from Israel, Japan, China and New Zealand for new chemical entities.

Siemens Limited slipped 1.9% to Rs 885.45 and the diversified company won an order worth Rs 317 crore from Bihar Grid Company Ltd.

Tata Power Company Limited slid 0.7% to Rs 84.20 and the power producer signed a memorandum of understanding with Russian Direct Investment Fund to develop investment opportunities in the energy sector in Russia.

Wipro Limited decreased 0.5% to Rs 543.60 and the third-largest software firm said its trustee’s plans to sell more than 18 lakh shares worth Rs 100 crore.