News at a glance

BHEL hopes Rs 55000 cr orders this fiscal
BHEL (Bharat Heavy Electricals Ltd), the country’s largest power equipment manufacturer, is hopeful of getting orders worth Rs 55,000 crore within the financial year ending March 2010.
In first two quarters of this fiscal, BHEL already booked orders worth Rs 19,000 crore and remaining Rs 36000 crore orders are expected to come in next two quarters of this fiscal. The company have total outstanding order of about Rs 130000 crore in the order book.
BHEL have 80% of the total orders from private companies. The current share price of BHEL is Rs 2245.


Sesa Goa : plans to raise Rs 6000 crore
Sesa Goa is planning to raise Rs 6000 crore by issuing various securities in domestic and overseas markets. Sesa Goa is an iron ore exporter and has mining operations in Goa, Karnataka and Orissa. The proceeds will be used for finance the company's growth plans, including increasing its mining capacity.
There is a long list of companies planning to raise funds in the second half of current financial year and few among them are GMR Energy, Indiabulls Power, JSW Energy and state-run Bharat Heavy Electricals, NTPC, Welspun, Jet Airways and Reliance Infratel etc.
Sesa Goa would raise around Rs 2400 crore through FCCB (Foreign Currency Convertible Bonds). The company is considering QIP (Qualified Institutional Placements) route, global depository receipts, and warrants issue etc.
The company fixed the conversion price of Rs 346.88 for its FCCB issue to raise Rs 2400 crore.
The stock was down by 5.6 per cent to Rs 256.8 a share on the Bombay Stock Exchange on Friday.


Sujana Towers To Raise $ 24 mn in GDR/FCCB Funds
Sujana Towers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 22, 2009, inter alia, has considered and approved the following:
1. Issue of Global Depository Receipts (GDRs) to an extent of US $ 12 million.
2. Issue of Foreign Currency Convertible Bonds (FCCBs) to an extent of US $ 12 million.
3. Further issue of equity shares/convertible warrants of the Company to Promoters and Non-Promoters under Section 81(1A) of the Companies Act, 1956 by way of Preferential Issue to an extent of Rs. 10 crores.
4. Approval of the draft notice for the Extraordinary General Meeting of the Company and to fix the date, venue therefor


L&T wins Rs 2000 crore order from GMR Energy
Larsen & Toubro Ltd. (L&T) on 24/9/09 signed Rs 2000 crore order from GMR Energy for setting up 2×384 MW gas-based power plant at Vemagiri near Rajahmundry, Andhra Pradesh. The work includes design, detailed engineering, supply, installation and commissioning of the plant on a turnkey basis.
The plant will have advanced class gas turbines and high efficiency steam turbines, which will be procured. by L&T. Construction, installation, commissioning and project management will also be done by the company. The project is scheduled for completion in the 11th Plan.
L&T set up a similar plant of 388.5 MW for GMR at the same location in 2006.