Areva T&D, Provogue India likely to see some action today

Leading electrical equipment manufacturer, Areva T&D India has bagged 765kV substation order for Anpara ‘C’1200 MW (2X600MW) Thermal Power Plant from Lanco Infratech. All the major 765kV equipment like circuit breakers, disconnectors, instrument transformers, automation, and protection systems will be produced in the company’s Indian plants. The said project is expected to be fully commissioned by April 2010.

Mumbai based textile group — Provogue (India) — is planning to open 35 Provogue stores and eight Promart outlets across India for an investment of Rs 25 crore. These stores, expected to be set up by 2010, would be built across 800-4,000 square feet in high streets and malls of metros, Tier II and Tier III cities. Of this, four stores would be set up in Mumbai and Delhi this year.

Hospitality major Panoramic Universal is planning to develop two exclusive properties in Hyderabad and Jaipur for Rs 50 crore and is in talks with private equity players and institutional investors to raise the required amount. The company had recently acquired three hotels in India taking the total number of hotels to 11 across India, US and New Zealand.

The Company Law Board (CLB) has finally paved the way for the acquisition of Satyam Computer Services. The CLB, after hearing on the petition of the company, has allowed it to conduct an open transparent auction process for inducting a strategic investor and to raise its equity base.