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Market News

Kalpataru Power Transmission said that the company has decided to invest Rs.90,04,50,000 in JMC projects towards preferential issue of 43,50,000 equity shares of Rs.10 each at a premium of Rs.197.00 per share.

Corporation Bank said that it has raised its Benchmark Prime Lending Rate (BPLR), COBAR, to 12.75% from existing rate of 12.50%, with effect from October 08, 2010.

Gail India on Wednesday placed orders for Rs.677 crore for laying of pipelines for Dabhol-Bangalore pipeline project. "The placement of construction contract marks a significant step towards execution of the pipeline project and is a testimony of Gail's commitment to bring gas supplies to Karnataka by 2012", said the company Chairman and Managing Director B.C. Tripathi.
The 1,400-km Dabhol-Bangalore pipeline project was approved by the Gail Board in June 2009 at an estimated cost of Rs.5,000 crore with a capacity of 16-MMMSCMD of natural gas transmission.
Applications for obtaining statutory permission for Railway, Highway, River Crossings have been made, said the company with a filing with the BSE.

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