News Capsule (16 Jun 10)

  • Punj Lloyd has bagged Singapore USD 419 million order, quoting Agencies
  • Mukesh Ambaniled Reliance Industries (RIL) is bidding for ultra mega power projects (UMPPs) in Chhattisgarh, Orissa and Tamil Nadu. Sources inform that the company is in the process of purchasing request for quotation (RFQ) documents for the 4,000 megawatt project.
  • Mukesh Ambani promoted Reliance Industries (RIL) is looking at acquiring 26% stake in Anil Ambani backed Reliance Communications (RCom), reports CNBC Awaaz quoting sources.
  • Automobile major Hyundai is set to ink an MoU with Andhra Pradesh to set up a spare-parts facility and other ancillary units, entailing an investment of over Rs 1,000 crore.
  • Aban Offshore is going to restart drilling in Venezuela soon, reports Business Line.
  • Gammon Infrastructure Projects has entered a MOU for an acquisition of an entity which has 250MW, reports CNBCTV18.
  • Crude prices surged over 2% to its highest in more than fiveweeks as the euro and equity markets rallied after debt auctions in Europe bolstered investor confidence in global economic recovery. A hurricane and delayed gulf of Mexico drilling also boosted prices. It is currently trading at USD 77.09 per barrel.
  • Emami is close to acquiring a company in Egypt, reports Business Standard.
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