Corporate News 4 L&T received orders worth 50 billion rupees ($1.1 billion) in the buildings and factories segment from NESCO, Godrej Properties, PBEL Property Development, Om Prakash Jindal Grahim Jan Kalyan Sansthan and Mahi Cement. (ET) 4 Jharkhand government and the Steel Ministry in-principle agreed to sort out a logjam in the allotment of iron ore from the Chiria Mines to the SAIL by October. The earlier state governments had been insisting that the company could not count Chiria Mines as its lease was given to IISCO before its merger with the SAIL. (ET) 4 Vedanta Resources, said it had cancelled the group restructuring plan under which Sterlite Industries would have sold its 51% in Balco and a 29.5% in Vedanta Aluminium Company to Malco, another subsidiary of Vedanta Resources. (BS) 4 Simplex Infrastructure has said that it has bagged a Rs 630-crore order in the Middle East for construction of a twin-tower complex in Dubai, which would add to its overseas revenue. (ET) 4 IFC has lent $100 million loan to Idea Cellular to strengthen its network and enable the telecom company to offer services in Bihar. (BS) 4 Bharti Airtel Ltd announced that it has partnered with SingTel to offer all Airtel customers free incoming calls while roaming in Singapore during this weekend when the inaugural Formula 1 race takes place in the city state. (BS)

SATYAM COMPUTER SYSTEMS LTD PRICE: RS.334 RECOMMENDATION: BUY
TARGET PRICE: RS.527
FY09E P/E: 10.6X

PUNJ LLOYD LTD
PRICE: RS.292
RECOMMENDATION: BUY
TARGET PRICE: RS.484
FY10E P/E: 12.0X