Maintain ‘buy’ on Lanco Infratech with an SoTP-based target price of Rs 9 per share. Resolution of regulatory issues seems to be behind us and progress on asset / stake sale leading to reduction in debt will determine stock performance.

Lanco’s Q2FY16 adjusted loss was in line at ~Rs 470 crore. EPC operations have resumed and normalised activity is expected going forward with quarterly revenue of ~Rs 1,500 crore and ~11-12% ebitda. Kondapalli expansion is expected to be commissioned by Q3FY16 end; with the recent gas pooling initiative, it is expected to operate at ~50% PLF.

Mumbai: The Indian rupee recovered marginally from 26-month low hit earlier in the session, but ended weaker on Friday as caution ahead of key economic data and a strong dollar overseas kept most traders on the sidelines.

The home currency closed at 66.76, down 0.29% from its previous close of 66.57. It had opened at 66.71 and touched an over two-year low of 66.89 per dollar intra-day— a last level seen on 4 September 2013.

NEW DELHI: The National Highways Authority of India ( NHAI) today approved a pilot project for developing greenbelts along the national highways (NHs).

"NHAI has approved a pilot project submitted by National Environmental Engineering Research Institute (NEERI), Nagpur for undertaking scientific studies on designing greenbelts along national highways," an official statement said today.

Noida-based Fastudent, an education eCommerce startup, has raised a round of seed investment from a group of angel investors led by Ashish Gupta, Founder and Trustee at Ashoka University.

Founded by IIT-IIM alumunus, Gaurav Barman and Geetanjali Khanna, Fastudent is an educational products aggregator – helps students, parents, schools and teachers across the bandwidth – from play groups to post graduation to fulfill their academic needs. It offers one of its kind eCommerce enabling technology platforms to enable education Institutes to bring eCommerce in their own fold of offerings.

Axis Bank, India's third largest private sector bank, has recorded a five-fold growth in digital transaction in the first six months of financial year 2015-16.

“With 16 million strong retail customer base, the bank has conducted Rs 22,000 crore worth of transactions in the first 6 months of the FY16 through its mobile platform," Rajiv Anand, Group Executive and Head of Retail Banking, said here today.

L&T Construction’s power transmission & distribution business has won orders worth Rs 1038 crores in the international and domestic markets in November 2015. Larsen & Toubro Saudi Arabia LLC, a fully owned subsidiary of L&T, has bagged an order valued at $ 108.2 million for the construction of five 132 kV substations at Hail area from the National Grid, Saudi Arabia, a subsidiary of Saudi Electricity Company.

Volvo Trucks has launched two new large capacity 5-axle dump trucks for various mining applications, saying the new products are ready to take on future demand of coal mining.

The FMX 520 10x4 and FMX 480 10x4 dump trucks were launched at the five-day ongoing Excon, which is touted as South Asia's largest exhibition on construction equipment and technology.

Benchmark indices BSE Sensex and NSE Nifty are likely to open on a flat to cautious note on Friday taking cues from SGX Nifty and Asian markets.

At 8.27 am (IST), SGX Nifty was marginally down 5 points, or 0.06 per cent, at 7,928.50.

MUMBAI: Revenue from online ticketing on Indian Railway Catering and Tourism Corp crossed the Rs 20,000-crore mark during the year to March 2015, nearly double the turnover of India's largest online retailer Flipkart. IRCTC generated Rs 20,620 crore, or nearly $3 billion, through online ticket sales in the last financial year, up 34 per cent from a year ago when it sold tickets worth Rs 15,410 crore.

Ashok Leyland is trading higher by 3% at Rs 96.75 on the BSE after the company said it has won a contract for 3600 vehicles worth $200 million from the government of Cote D'Ivoire, a west African country formerly known as Ivory Coast.

The contract is being funded by Exim Bank of India and is pending for final clearance from respective governments, said the company. The order includes supply of trucks and buses, which will be delivered in the next 12 months, Ashok Leyland said in a filing.

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