Idea Cellular on Monday said it has received from DoT the Unified Licences for seven circles that had been quashed by the Supreme Court in February 2012. In November auctions last year, the company had won spectrum in these service areas. The Unified Licence allows operators to offer a wide range of telecom of services. The company has signed on October 11, 2013, Unified License with the Department of Telecommunications, in respect of its seven service areas namely Tamil Nadu, Orissa, West Bengal, Kolkata, Assam, North East and Jammu & Kashmir, Idea said.
TCS subsidiary posts 27% sequential rise in profit
Tata Consultancy Services-controlled CMC has posted a sequential rise of 27% in its net profit for the quarter ending September 30. The company posted a net profit of R67.3 crore against R53.1 crore in the previous quarter. The companys net revenues for the quarter stood at R560.7 crore against R486 crore in the June quarter. CMC witnessed an operating margin of 15% in dollar terms for the quarter. CMC has a capex plan of R230 crore for FY14 and has utilised R64 crore so far in the year.
Pratibha Ind bags R516-cr water supply contracts
Infrastructure firm Pratibha Industries on Monday said it has won two contracts worth R516 crore in Rajasthan for water supply work. The company has bagged two contracts aggregating to R516.17 crore from Public Health Engineering Department, Rajasthan, for water supply schemes to villages in Ajmer and Bharatpur, the company said. One of the orders worth R292.49 crore awarded by PHED, Ajmer, the company said, pertains to work of cluster scheme of 213 villages of Jahajpur and Kotri Tehsils... Under Chambal-Bhilwara water supply project phase II with operation and maintenance for 10 years.
Gamesa India inks 54-MW wind power project in AP
Gamesa India said on Monday that it has signed a 54-MW wind power project in Andhra Pradesh. Gamesa has received an order from a leading power & utilities company, which has just entered into wind power projects, to deliver 54 MW at Tagguparthi, Andhra Pradesh. The deal comprises 27 units of Gamesa G97 2.0 MW turbines which will be commissioned by May 2014. While the company declined to comment on the value of the order and the company, market sources here pointed out that the value size could be over R400 crore. Under this contract, Gamesa would be supplying 27 units G97-2.0 MW turbines at Tagguparthi. The commissioning is scheduled to be completed by May 2014. Gamesa would be responsible for the full scope of site development, supply & commissioning of the turbines and operation & maintenance. The agreement also includes a comprehensive operations & oaintenance agreement for 10 years.
Suzlon bags 65-MW Uruguay project
Wind turbine maker Suzlon on Monday said it has bagged an order for setting up a 65 MW project in Uruguay. Suzlon Group announced a new contract win in Uruguay with a 65-MW project. The project is located in the southern Department of Colonia in the South American country, Suzlon said. However, the company did not disclose the financial details of the order.
Bajaj Corp Q2 net down 6.22% to R36.01 crore
FMCG firm Bajaj Corp on Monday reported a 6.22% decline in net profit to R36.01 crore for the second quarter ended June 30 on the account of exceptional items marked for acquisition of Ozone Ayurvedics Nomarks brands. The company had reported a net profit of R38.4 crore in the same quarter a year ago. Net sales during the quarter under review went up by 16.48% to R158.24 crore against R135.85 crore in the corresponding period last year, the company said. Exceptional items during the quarter were at R5.1 crore due to acquisition of Nomarks, the company said. On August 22, Bajaj Corp acquired Nomarks brands and non-compete agreement for three years with Ozone Ayurvedics for R140.94 crore to strengthen its position in the personal care segment.
M&M launches revamped Bolero pick-up flat-bed
Mahindra & Mahindra on Monday rolled out a revamped Bolero pick-up flat bed, priced at R5.45 lakh (ex-showroom Mumbai), with several features, including a higher payload capacity, to further strengthen its leadership position in the segment. The Bolero pick-up flat bed is the flagship brand in Mahindras pick-up portfolio contributing over 60% to overall pick-up sales.
Promoter buys 87.85 lakh Ashok Leyland shares
Ashok Leyland promoter Hinduja Automotive on Monday picked up 87.85 lakh shares of the commercial vehicle major for about R15 crore. Hinduja Automotive bought 87,85,517 Ashok Leyland shares from Lotus Global Investments through the open market, according to information available with the stock exchanges.