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Tuesday, May 5, 2009

L&T to invest Rs15-20bn over next 3yrs

L&T announced that would invest Rs15-Rs20bn over the next 3 years on defence-related business, said the Chairman A.M. Naik.

"Of this, Rs15bn would be spent for the defence shipyard at Ennore," the chairman said. The remainder would be spent on expansion of existing facilities.

Shares of L&T have advanced by 2% to Rs971 after hitting an intra-day high of Rs992 and a low of Rs955 and has recorded volumes of over 2.2mn shares on NSE.

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GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 09
07:30 RBNZ Monetary Policy Statement 3
07:30 RBNZ Interest Rate Decision 3 3.50% 3.50% 3.75%
15:00 FPC Meeting Minutes 1
15:00 FPC Statement 1
16:30 MBA Mortgage Applications 1 20.0% -1.6%
19:30 Wholesale Inventories 1 0.3% 0.3%
20:00 EIA Crude Oil Stocks Change 1 2.200M 6.165M
22:00 Fed's Barkin speech 2
22:30 10-Year Note Auction 1 4.31%
23:30 FOMC Minutes 3
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