In an important move, Government has allowed all trusts to invest in securities, including shares and bonds of listed companies.

The stock markets are expected to open with an upward gap. The Indian stock markets closed weak during the last week. The weekend was good for global markets. US markets closed higher.

PSL Limited has announced that the company has won a contract worth Rs 125 crore for the supply of coated line pipes and long radius bends for the 200 km Dullajan Numaligarh Pipeline in Assam.

The order consists of supply of primarily 16-inch Outer Diameter API 5L (X65 Grade) bare/coated line pipes.  These pipes have to be supplied by mid-2008, and PSL shall supply these pipes in entirety from its Varsana pipe mills in Kandla, Gujarat.

Mudra Lifestyle, a well-known firm in the fashion market has announced that board of directors of the company has given the approval for setting up of yarn project costing Rs. 300 crore preferably in the state of Uttarakhand or Himachal Pradesh.

An official release from the company stated, “The project is proposed to be funded by contribution from Promoters by way of Warrants amounting to Rs. 36 crore, issuance of foreign currency convertible bond or overseas equity up to Rs. 200 crore and the balance by way bank loans.”

India Ltd, division of Welspun Group has announced that the company has acquired 76 % stake in Portugal-based Sorema - Tapates e Cortinas de Banho, SA for Rs 60 crore.

Sorema is a leading player in bath rugs and shower curtains around the world, with an annual turnover of € 10 million. Its network has spread across in 44 countries including USA, England, Spain and Germany.

According to Welspun, the companies have also signed an agreement for marketing products exclusively in Spain and Portugal as well as in other European countries.