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Use close to money spreads
An intermediate reversal could mean net losses over the next 4-6 weeks.

Magma Fincorp picks up 7 per cent in Experian India
Magma Fincorp Limited, a leading asset finance company, has picked up seven per cent stake in Experian Credit Information Company of India Pvt Ltd, the Indian Credit Information Company (CIC) arm of the global information services company, Experian.

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Composite silk unit in near Guwahati
Assam, which produces three types of indigenous wild silks – Muga, Pat and Eri, today got a composite silk unit at Chaygaon Industrial Growth Centre, near Guwahati. The composite unit, or Eri Spun Silk Mill, came up with an investment of Rs. 5.5 crore, which includes infrastructure for spun silk mill, machineries, looms etc. The unit is expected to go a long way in adding value to the silk industry of Assam. The unit was inaugurated by union minister of textiles, Dayanidhi Maran. For the establishment of the unit, along with additional facilities like weaving processing and dyeing etc., the Central Silk Board (CSB), under the ministry of textiles, and the state government of Assam had provided a subsidy of Rs. 155.30 lakh and Rs. 48.10 lakh respectively to the promoter of the unit, Fabric Plus Pvt. Ltd., for installation of machineries, equipments etc. The promoter also contributed an amount of Rs. 22.60 lakh.
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BHEL bags Rs 91 cr contract from UK firm

State-run BHEL today said it has bagged a Rs 91 crore order from UK-based Power Engineers Contracting company to supply gas turbine generating unit for its Nasiryah power project in Iraq. - Subhash Projects receives 2 orders of Rs 278 cr - Alstom bags Rs 365 cr orders from Hindalco - Siemens bags Rs 608-cr order - Indo-China border differences can be resolved: Pranab - Ahluwalia Contracts bags four orders worth Rs 242 cr - India Eco Summit: Alstom India in talks with Bhel, NPCIL in planned JV "BHEL has received an order from Power Engineers Contracting Company, UK for supplying 42 MW Gas Turbine generating unit for Nasiryah power project in Iraq," the company said in a statement. BHEL has also signed a Memorandum of Understanding with Power Engineers for supplying gas turbine generators and steam turbine generators for future projects in Iraq, it said. The gas turbines and associated equipment will be made and supplied by BHEL"s Hyderabad plant and the control system will be manufactured and supplied by its electronics division, Bangalore.


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