News Capsules - 29-May

• NTPC, southern region, is planning to generate additional 6,000 Mw of power by 2011 and has recorded the highest-ever generation of 32,067.76 Mw during the last fiscal.
• The Orissa government will sign a memorandum of understanding (MoU) with Essel Mining and Industries Ltd (EMIL), an Aditya Birla group company, for the development of a Rs 1500 crore captive port at Chudamani.
• GMR Infrastructure said the company-led consortium has bagged an order from National Highways Authority of India (NHAI) for a 181 kms road project in Andhra Pradesh.
• BOC India will invest Rs 1,000 crore over the next three years. The company would also set up a merchant plant at a cost of Rs 150 crore in Uttarakhand.
• Mahindra & Mahindra, the country’s largest utility vehicle and tractor maker, has posted an 89 per cent increase in net profit at Rs 418 crore for the quarter-ended March 31, 2009, compared with Rs 221 crore in the year-ago period. The rise was largely due to the additional revenue brought in by Punjab Tractors (PTL) and through the sale of shares in Swaraj Mazda by PTL.
• Larsen and Toubro (L&T), the engineering and construction giant, has posted a 3.29 per cent rise in net profit at Rs 998.52 crore during the quarter ended March 2009, weighed down by a provision of Rs 186.28 crore for its investment in Satyam Computer Services. Total income increased 23.96 per cent to Rs 10,605.16 crore.
• JSW Steel on Thursday said it will raise $1 billion (about Rs 4,775 crore) through qualified institutional placement (QIP) and issue of securities in the international markets for part-financing its capital expenditures and for meeting general corporate purposes.
• Tata Power Company, the largest private power firm in the country, has registered a 57.61 per cent rise in net profit at Rs 354.60 crore in the Marchended quarter. The rise was due to a Rs 308-crore gain from the company’s sale of its partial holdings in Tata Teleservices (TTSL).
• NTPC Limited, country’s largest power generating company having an installed capacity of 30,144 Mw, is adding 6,500 Mw in the southern region. Of this, 1,000 Mw is for the Simhadri Super Thermal Power Station at Visakhapatnam, according to NTPC regional executive director (south) Ambarish N Dave.