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Weekly News: India's WPI eased at a faster-than-expected pace in March - IndiaNotes.com
Weekly News: India's WPI eased at a faster-than-expected pace in March
SMC | Published: 23 Apr, 2017  | Source : IndiaNotes.com

Economic News


- India's WPI eased at a faster-than-expected pace in March, Wholesale prices rose 5.70 percent year-over-year in March, slower than the 6.55 percent climb in February, which was the highest inflation since November 2013.


Capital Goods


- BHEL has successfully commissioned two units of 270 MW at Rattan India Nasik Power Limited's 5x270 MW thermal power project, located at Sinnar in Nasik District of Maharashtra. Significantly, with the commissioning of these units, BHEL has commissioned eight sets for RattanIndia in Maharashtra - 3 sets at Nasik and 5 sets at Amravati. In addition, two more 270 MW units are presently in advanced stages of completion at Nasik.


- ABB India has won an order w.orth around `178 crore, from Power Grid Company of Bangladesh. As part of the project, ABB India will build two new substations and upgrade two existing substations. The order was booked in the first quarter of 2017.


Infrastructure


- Larsen and Toubro's construction arm has bagged orders worth 2,694 crores across various business segments. Its water and effluent treatment business has received engineering, procurement and construction orders worth 2,227 crores, smart world communication business has received an order worth 180 crores and the transportation structure business has won an engineering, procurement and construction order worth 287 crores from the Ministry of Road Transport.


- Adani Ports and SEZ firm Adani Logistics has commissioned and commenced operations at its multimodal logistics park at Kilaraipur, Ludhiana in Punjab. The logistics infrastructure facility, spread across 77 acres, is strategically located on the dedicated freight corridor feeder route and will facilitate double stack train services to Mundra Port.


Power


- Suzlon Energy has installed and commissioned 2 renewable projects of 50.40 MW each for NALCO at Gondikota in Andhra Pradesh and Jath in Maharashtra. Both the projects have the potential to provide power to over 54,000 households and reduce 0.20 million tonnes of CO2 emissions per annum.


Pharmaceutical


- Glenmark has received a tentative approval from the US Food and Drugs Administration (USFDA) to sell the generic version of its drug Pradaxa, used to prevent blood clots. This is Glenmark's fourth product approval in the US since January till date.


- Aurobindo Pharma's manufacturing facility at Bachupally in Hyderabad has received six observations. The US Food and Drug Administration (FDA) had issued the observation letter after conducting an inspection at unit-III during April 10-18, 2017. The observations are all on procedural improvements. None of them are related to data integrity.


Miscellaneous


- Reliance Defence has entered into a strategic partnership with a leading South Korean defence major LIG Nex1 to jointly manufacture military hardware for India's armed forces. The cumulative value of projects being targeted by the two companies will be worth multi-billion dollars.


Construction


- Punj Lloyd's subsidiary Dayim Punj Lloyd Construction Contracting Company has bagged an EPC contract order worth 312 crore from Yanbu Aramco Sinopec Refining Company (YASREF) in Saudi Arabia. With this order, the group's order backlog stands at 19,929 crore.


Oil & Gas


- Reliance Industries has announced commissioning of the second and final phase of paraxylene project at Jamnagar in Gujarat. The project is part of the $16 billion investment it is making in expanding petrochemical production capacity to lower feedstock and fuel costs and boost profits.


Media


- Zee Entertainment has completed the acquisition of 80% equity stake in Margo networks and consequentlyMargo has become a subsidiary of the Company.

 

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.