Tokyo- Toshiba Corp has signed a contract to engineer and build two nuclear plants in the southern US state of Texas, the Japanese company said Wednesday.

Toshiba would deliver the two reactors and other equipment while offering engineering work for the project managed by the South Texas Project Nuclear Operating Co, it said.

The reactors would be the first 1,400-megawatt advanced boiling-water reactors in the United States.

One was expected to start operating in 2016, and the other in 2017.

The stock of Dr Reddy's (DRL) has fallen 8% in the past month to Rs 397.90 per share compared with a 1.7% increase in the BSE Sensex. 

Lack of clarity on execution of the 33 contracts (across eight products) on the Allgemeine Ortskrankenkassen (AOK) tender due to legal challenges has weighed heavy on the stock in recent past. The eight products are likely to enjoy relatively lesser margins, but volumes are expected to increase. Supplies begin in March 2009 and are valid for two years, but completion of the tender may be delayed. 

Some European players could pose legal hurdles, questioning the terms used to award contracts by AOK. DRL has not bagged contracts for any of its top 10 products under the AOK tender.

Parsvnath Developers Ltd, the New Delhi-based developer, has postponed its luxury mall-cum-office complex in Connaught Place, the commercial hub of Delhi.

VE Commercial Vehicles, a joint venture between AB Volvo and Eicher Motor Ltd (EML), has been facing tough times in the last few months with industry-wide commercial vehicle sales plummeting.

The two cranes stationed at DLF's construction site at Lower Parel, with the name DLF Laing O'Rourke written on them in big bold letters, have hardly moved in the last one month.