DLF IPO fully subscribed
The mega initial public offer of realty giant DLF, through which the developer is expecting to garner Rs 9,625 crore, on Tuesday got fully subscribed.
The IPO got subscribed 1.04 times on its second day of offer, receiving 18.27 crore bids for 17.5 crore equity shares on offer, latest data available on the stock exchanges shows. Besides, 23,13,020 bids were received at cut-off price, the data shows.
The issue had received bids for 78 per cent shares on Monday, when the IPO opened for subscription.
The Qualified Institutional Buyers portion constituting of foreign institutional investors, domestic financial institutions and mutual funds was subscribed 1.28 times the shares reserved for them on the first day itself.
DLF, which is offering 17.5 crore equity shares through 100 per cent book-building process, has fixed the price band at Rs 500-550 per share. The mega issue would make it among the 10 largest firms on the bourses with a value of Rs 93,700 crore on the up per band.
The issue would close on June 14. It would constitute 10.27 per cent of the fully diluted post-issue capital of the company.
Tuesday, June 12, 2007
Industrial growth up 13.6 per cent in April
Buoyant manufacturing sector has pushed up industrial growth to 13.6 per cent in the first month of the current financial year against 9.9 per cent in April 2006.
The industrial growth, as measured by the Index of Industrial Production (IIP), showed good performance despite the core sector which contributes to 26 per cent of the index showing a low growth of 7.4 per cent in April.
While the manufacturing sector recorded a whopping 15.1 per cent growth in April as against 11 per cent in the same month last year, the electricity generation went up by 8.7 per cent against 5.9 per cent.
The mining sector, however, continued to perform poorly recording a low growth of 3.4 per cent, the same as in the corresponding period last year.
As per the use-based classification, consumer non-durables sector recorded very high growth rate of 21.9 per cent against 9.4 per cent in April 2006.
However, consumer durable sector witnessed a deceleration of growth which dipped to 5.3 per cent as against 7.4 per cent in the corresponding month last year. The other segments of the industry which include basic goods and capital goods also witnessed d eceleration in growth.
The IIP growth rate for the basic goods dipped to 8.9 per cent and for capital goods to 17.7 per cent from 9.3 per cent and 19.6 per cent respectively.
The intermediate goods showed a good performance with a growth rate moving up to 12.6 per cent from 8.5 per cent in April 2006.
Buoyant manufacturing sector has pushed up industrial growth to 13.6 per cent in the first month of the current financial year against 9.9 per cent in April 2006.
The industrial growth, as measured by the Index of Industrial Production (IIP), showed good performance despite the core sector which contributes to 26 per cent of the index showing a low growth of 7.4 per cent in April.
While the manufacturing sector recorded a whopping 15.1 per cent growth in April as against 11 per cent in the same month last year, the electricity generation went up by 8.7 per cent against 5.9 per cent.
The mining sector, however, continued to perform poorly recording a low growth of 3.4 per cent, the same as in the corresponding period last year.
As per the use-based classification, consumer non-durables sector recorded very high growth rate of 21.9 per cent against 9.4 per cent in April 2006.
However, consumer durable sector witnessed a deceleration of growth which dipped to 5.3 per cent as against 7.4 per cent in the corresponding month last year. The other segments of the industry which include basic goods and capital goods also witnessed d eceleration in growth.
The IIP growth rate for the basic goods dipped to 8.9 per cent and for capital goods to 17.7 per cent from 9.3 per cent and 19.6 per cent respectively.
The intermediate goods showed a good performance with a growth rate moving up to 12.6 per cent from 8.5 per cent in April 2006.
L&T bags Rs 877 crore ONGC order
Larsen & Toubro Ltd (L&T) has announced that the Oil & Natural Gas Corporation (ONGC) has awarded a Rs 877 Crore turnkey project order to the Company for the NQ Re-construction (NQRC) Project in Mumbai High North fields. This Projects is the largest Brownfield project of its kind awarded in the Offshore Oil & Gas Sector in India.
The NQ Complex, one of the oldest assets owned by ONGC is operational since 1985.The project comprises of re-construction of Offshore Facilities at the NQ Complex including the replacement of the existing Booster Compressor with a new Process Gas Compressor Module, revamp of Produced Water Conditioning System, Hot Oil System, Gas Dehydration Unit and other utilities.The turbo-machinery for the Process Gas Compressor Module will be supplied by Kawasaki Heavy Industries (KHI), Japan and the Module will be fabricated and delivered from the Company's Modular Fabrication Facility at Hazira.
The Project calls for substantial quantum of Offshore Works, with an "in-the-sea" campaign spanning over 300 days in Mumbai High.The Company bagged the prestigious order on the strength of its proven track record in meeting several stringent requirements, including a tight project schedule. The Project will be executed on a Lump Sum Turnkey basis with the completion scheduled by May 08, 2009.
The award of the NQRC Project has further strengthened the Company's position in the Indian Upstream Hydrocarbon Sector as a leader in providing total E&C solution to ONGC & to the Industry.
Larsen & Toubro Ltd (L&T) has announced that the Oil & Natural Gas Corporation (ONGC) has awarded a Rs 877 Crore turnkey project order to the Company for the NQ Re-construction (NQRC) Project in Mumbai High North fields. This Projects is the largest Brownfield project of its kind awarded in the Offshore Oil & Gas Sector in India.
The NQ Complex, one of the oldest assets owned by ONGC is operational since 1985.The project comprises of re-construction of Offshore Facilities at the NQ Complex including the replacement of the existing Booster Compressor with a new Process Gas Compressor Module, revamp of Produced Water Conditioning System, Hot Oil System, Gas Dehydration Unit and other utilities.The turbo-machinery for the Process Gas Compressor Module will be supplied by Kawasaki Heavy Industries (KHI), Japan and the Module will be fabricated and delivered from the Company's Modular Fabrication Facility at Hazira.
The Project calls for substantial quantum of Offshore Works, with an "in-the-sea" campaign spanning over 300 days in Mumbai High.The Company bagged the prestigious order on the strength of its proven track record in meeting several stringent requirements, including a tight project schedule. The Project will be executed on a Lump Sum Turnkey basis with the completion scheduled by May 08, 2009.
The award of the NQRC Project has further strengthened the Company's position in the Indian Upstream Hydrocarbon Sector as a leader in providing total E&C solution to ONGC & to the Industry.
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