GAIL (India) after trading hours on Monday, 18 February 2013, said it has commenced supply of gas to the city of Bengaluru. A Gas Transmission Agreement was also signed between GAIL (India) and Karnataka Power Corporation (KPCL) in the presence of Minister for Petroleum and Natural Gas Dr. M Veerappa Moily, GAIL (India) said. Dr. Moily also laid the foundation stone to mark the beginning of the construction of gas pipeline to Chikballapur, GAIL (India) said.
The gas supply to Bengaluru has been commenced from GAIL (India)'s Dabhol-Bengaluru 1,000 km pipeline constructed at an investment of Rs 4500 crore with a design capacity of 16 MMSCMD of natural gas, GAIL (India) said in a statement. This initiative of GAIL (India) will bring natural gas to the people of Karnataka for the first time, GAIL (India) said. The pipeline passes through Belgaum, Dharwad, Gadag, Bellary, Devanagere, Chitradurga, Tumkur, Ramanagaram, Bengaluru Rural and Bengaluru Urban. It traverses through 18 National Highways, 382 other Road crossings, 20 Railway crossings, 83 Cased crossings and 276 Watr Body crossings including Asia's largest river crossing in rocky terrain at Ghatprabha. The project involved laying of 73 km of 18 inch diameter pipeline in the city of Bengaluru. With only 25 km stretch passing through Reserve Forest Area, it goes through 11 major river crossings including Zuari, Shastri, Ghad and Ghatprabha, GAIL (India) said.
The Gas Transmission Agreement between GAIL (India) and KPCL provides for supply of 2.1 MMSCMD of natural gas from GAIL (India)'s Dabhol-Bengaluru pipeline to feed KPCL's power plant for 700 MW of power generation at Bidadi. The supplies shall begin within the next 30 months, GAIL (India) said.
Glaxosmithkline Pharmaceuticals and Thomas Cook (India) will declare their October-December 2012 quarter results today, 19 February 2013.
Infosys said it will be the first Indian company admitted to trading on NYSE Euronext's (NYX) London and Paris markets from Wednesday, 20 February 2013.
Infosys' CEO and Managing Director, S. D. Shibulal, said, "Listing on NYSE Euronext enables UK, French and other European investors to have direct access to Infosys ADS. It is testament to the strong relationship between India and the UK and allows UK investors to benefit from the India growth story. The listing broadens our trading window between Mumbai and New York and demonstrates our commitment to the region as one of the key drivers of our next phase of growth."
"By leveraging our platform to reach the European investor community we are delighted to be the partner of choice for Infosys in realizing their strategic ambitions, said Dominique Cerutti, President and Deputy CEO, NYSE Euronext. For leading Indian companies, like Infosys, looking to increase their liquidity and visibility, NYSE Euronext provides a unique proposition to the issuer community by facilitating multiple listings under the umbrella of a single stock exchange operator."
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Infosys began trading on the NYSE on 12 December 2012 and trades under the ticker symbol INFY. Infosys will also trade on NYSE Euronext under the ticker symbol INFY.
Hotel Leelaventure executed an agreement on 18 February 2013 to sell its IT Park building in Chennai to Reliance Industries for Rs 170.17 crore.
The board of Trent has approved purchasing the entire shareholding of 18.25 lakh equity shares of Landmark, a subsidiary of the company, from TVS Shriram Growth Fund I (the Fund), for Rs 84 crore. Further, it has been agreed between the parties that the Fund will retain an option to invest in a minority stake in Westland, also a subsidiary of the company, at a future date. The company said it will continue to pursue the build out of the Landmark format, increasingly focusing on family entertainment categories and seek to integrate these operations with the Westside business. This is aimed at realising cost and other operating synergies, Trent said in a statement.
The board of Titagarh Wagons has decided to reorganise the business by transfering heavy earth moving and mining equipments (HEMM) division to one of the company's existing wholly-owned subsidiary against allotment of shares to Titagarh Wagons. The details of the scheme along with swap ratio/consideration will be submitted at the earliest. All other business segments shall continue to be with Titagarh Wagons.
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