Hyderabad-based company IVRCL Infrastructures & Projects Ltd has informed that the Buildings & Industrial Structures (B & IS) and Water Divisions of the Company have jointly bagged orders worth Rs 260.46 Crores.

Further, IVRCL quoted in a press release that company’s B&IS Division has picked first order worth Rs 92.51 crore from Bangalore Metro Rail Corporation for the construction of two elevated metro station viz CMH Road and Byappanahalli Station in Reach-I. The project is scheduled to be completed in 22 months.  

Quippo Telecom Infrastructure Ltd (QTIL), a SREI Group subsidiary, has finally acquired a 49 percent stake in Wireless Tata Telecom Infrastructure (WTTL), Tata Teleservices' tower arm.

Under the deal, QTIL will pay Rs 2400 crore to Tatas, and transfer its 5000 towers into WTTI. In addition, QTIL will have management control in the firm.

New Delhi based civil engineering contracting firm, Ahluwalia Contracts Ltd has informed that the company has secured various orders worth Rs 394 crore.

The company has secured first order worth Rs 72.84 crore from Delhi Metro Express for construction of Dwarka Depot including civil, building services and architectural work in New Delhi.

While, the second order, valued at Rs 50 crore has been received from Tata Medical Centre Trust, for construction of general building, finishing and miscellaneous works of Tata Medical Centre, situated at Kolkata.

The third order, which is for construction of D.N.Nagar Depot, Mumbai has been secured from Mumbai Metro One Pvt. Ltd. for Rs 184.09 crore.

Signaling the first flourish of laptop announcements for this week's Consumer Electronics show, Lenovo, having pooled its resources in the quest of thinner and lighter laptops, announced some new models of IdeaPad, aimed at strengthening its consumer line.

Rate drops to new lows in early New York today, aggressive liquidation by EURO-Sterling cross spreaders likely providing the main selling. Late longs are under pressure and can't ignore a break of the 50% fib defense numbers.

Bears took a stand at 1.4700 area last year and likely won't let go of shorts until technical levels are tested around 1.3660 area or lower which we have today. Technical traders will be looking for a test of the 100 day MA near-term to offer support this time after blowing through to the upside.

Rate is two-way and firmer due to cross-spreaders liquidating EURO-Sterling; repatriation also lending to the firm tone. Rate is likely to have a knee-jerk reaction to more rate cuts due later in the week but with a new 2008 low late in the month last month the probabilities are good that any rate cut is factored in.

Rate sees upside stops cleared around the 1.4550 area in light trade but no follow-through as of yet. Toolbox signals a trend sell as active from late in December likely running out of steam around the 1.4400 area so if holding shorts be nimble.