The project will be implemented by Andhra Pradesh Gas Distribution Corp (APGDC), a company jointly promoted by Gail Gas and Andhra Pradesh Gas Infrastructure, which has recently signed an agreement with GDF Suez LNG UK for jointly setting up a floating storage and regasification unit (FSRU). The project is estimated to be commissioned by the end of 2013.
Barring Infosys, all software stocks have been trading in the green led by HCL Technologies Ltd. and CMC Ltd. HCL Technologies has reported its results for third quarter of FY12 (3QFY12). The company has reported a 26% year on year (YoY) increase in the topline. The sales for the quarter stood at Rs 52 bn. The consolidated net profit for the quarter came at Rs 6 bn, up 28% YoY. This was on account of strong order flow from the customers that helped to cut the operational costs.