L&T’s Engineering Construction and Contracts (ECC) segment, in association with Outotec GMBH, has bagged an Rs 7,620 million order for construction of a sinter plant, from SAIL.

Sinter plant of 2 X 204 square metre grate area with a total capability of 3.80 million ton annually, would be fulfilled on a turnkey basis, at the IISCO Steel Plant (ISP) of SAIL, at Burnpur, West Bengal. The project is likely to be completed in 30 months.

Welspun India has registered a 22.41 per cent growth in its net earnings, which stood at Rs 92.3 million for the quarter ended June 2007, as against Rs 75.4 million in the same period of the last year (2006).

The company recorded a 33 per cent increase in its net sales at Rs 2,647.42 million for the quarter (June 2007) as compared to Rs 1,988.95 million in 2006.

Total Income was seen at Rs 2,771.28 in the quarter, as against Rs 1,950.72 for the year ago period.

Mumbai: Key indices rise dramatically in early trade as banking and metal segments moved up. Real estate shares carried on their upward movement and FMCG appealed buying interest. Worldwide indications were also helpful of the uptrend.

The National Stock Exchange’s Nifty stood at 4568.5, higher by 39 points or 0.87 per cent from its last closure. The Bombay Stock Exchange’s Sensex gained 155 points at 15,769.43.

The major Sensex gainers were ICICI Bank (up 1.83%), Grasim Industries (1.4%), Satyam Computer (1.35%), Dr Reddy's Laboratories (1.32%), Reliance Energy (1.29%) and Tata Motors (1.24%).

Hindustan Unilever was down 0.33 per cent. It was the only laggard in the rally.

New Delhi: Close to the heels of retardation in industrial productivity, the country’s core segment growth is decompressing too, posing more queries over the Indian growth story.

New Delhi-based Fortis group is ready to purchase stakes in Chennai-based Malar Hospitals Ltd.

The group has signed up an agreement with the Chennai-based Malar Hospitals promoters’ to buy 28 per cent of the holdings through International Hospital Ltd - a wholly owned subsidiary of Fortis Healthcare Ltd (FHL) - and Oscar Investments Ltd.

Fortis will also make an open public offer to take over 20 per cent stake from the public. The transaction will mount Fortis’ entry into south India.