Stocks in News

by khalid on 26/03/2010 · 0 comments

Bull Eye

Bull's Eye

Patel Engineering :- The company has been awarded the contract to develop the largest waterfront project in the southern hemisphere. The project, an integrated township in Port Louis, the capital of Mauritius, is valued at $1 billion. Spread over more than 24 hectares, the project involves residential, commercial, entertainment and real estate. The company is a mid-cap construction engineer. It owns large land banks in Mumbai and Bangalore. The project is being developed in collaboration with the Mauritius government and will be executed by a subsidiary in three phases over seven years. The first phase of about three million square feet is expected to be ready in three years. Mauritius has a long-standing double taxation avoidance treaty with India that is currently under review by India, which suspects many overseas deals of being routed through the island-nation to avoid paying tax in India.
Impact on Bull : Positive

Essar Group :- The group has acquired a 100 MT Indonesian coal mine for Rs 900 crore in Indonesia to fuel its upcoming thermal power projects. The Aries coal mines in the Kutai region of East Kalimantan has an estimated resource base of 100 MT of thermal coal and mineable reserves of 64 MT, whose annual turnover is $15 billion (Rs 68,700 crore). The Indonesian mine has high-quality bituminous coal with a gross calorific value (GCV) of 6,000, with low ash and low moisture and was suitable for power plants. Production from the mine should start within a year. With the acquisition of the Aries mines, the group has become the fourth domestic business house in the country to buy coal mines in Indonesia.
Impact on Bull : Positive

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