Stocks In Action For September 27, 2012

L&T Construction has announced the bagging of new orders valued at Rs 1,241 crore across various business segments this month. The Buildings & Factories IC of the company has bagged projects worth Rs 697 crore for the construction of residential towers, cement plants and factory structures across the country, the company said in a press release. Post this news we may see a positive momentum in the stock today.

Enterprise data services provider Tulip Telecom has bagged a deal worth over Rs 74 crore from the Tamil Nadu government for providing end-to-end connectivity to 2,000 offices in the state. Through this e-governance initiative awarded by the Electronics Corporation of Tamil Nadu Limited (ELCOT), Tulip will provide network infrastructure to connect 2,000 government offices in Tamil Nadu over a period of two years, the company said in a statement. The scrip may therefore show some upside movement today.

According to media reports, the Union Cabinet is likely to soon take up the proposal of hiking foreign investment limit in the insurance sector from 26 per cent to 49 per cent. Ahead of this receiving approval, the stocks of some of the insurance companies may swing upwards.

The miners’ body, Federation of Indian Mineral Industries (FIMI), has welcomed the imposition of a ban by the government on sale or export of iron ore from captive mines and demanded its strict enforcement to prevent misuse by the allottees. FIMI is of the opinion that not only iron ore but minerals from any mine allotted for captive use should be consumed only for specific purposes. We may therefore see some pressure in the scrips of iron and steel companies today.

A report in Business Standard states that Infosys has obtained a contract to do a makeover for the Ministry of Corporate Affairs. The information technology provider will execute the second phase of the ministry’s e-governance program MCA21, which will start from January and continue till July 2021 with a total project outlay of Rs 357.81 crore. The company’s stock may see some positive momentum today.