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L&T has bagged two orders valued at Rs 4.12 bn. The first one is a Rs 3.32 bn Engineer-Procure-Construct (EPC) lift irrigation contract from the Irrigation & Command Area Development Dept (ICAD), Government of Andhra Pradesh and will be executed by L&T and its JV partner Kirloskar Brothers. The second contract is worth Rs 0.8 bn from Rashtriya Ispat Nigam (RINL). The lift irrigation contract from ICAD involves investigation, design, supply and erection of necessary lift systems with all electrical and mechanical components, surge protection systems, control valves, etc., for lifting 7.80 TMC water from one village to another in a district of Andhra Pradesh, including operation and maintenance. The order from RINL is for executing civil works for Wire Rod Mill No. 2 of Visakhapatnam Steel Plant (VSP), where the Company and its International consortium partners of Paul Wurth Italia and will be executing an EPC package valued over Rs 14 bn for the expansion of VSP. Tata Steel, the 5th largest steel producer in the world, announced results for 4QFY07 and full year FY07. On a consolidated basis, topline and bottomline have grown by 40% YoY and 19% YoY respectively during the quarter. For the full year, the same have stood at 24% and 12% respectively on a YoY basis. Here, while operating margins have fallen marginally, it is the more than 2.5 fold jump in interest expenses, which has led to the bottomline growing at a slower pace than the topline. The board of directors of HDFC Bank has approved a proposal to raise additional capital of Rs 42 bn or US$ 1 bn, whichever is higher. The proposed equity issue will result in the reduction of the present shareholding of the promoter, HDFC, from the current level of 21.6%. With a view to maintain the shareholding of the promoter group at or about 23% of the enhanced capital base, it has been proposed to offer to the promoter group, by way of preferential offer, 13.5 m equity shares of Rs 10 each at an issue price of Rs 1, 023.49 per share. The balance amount of the proposed equity capital may be raised either as domestic public offering or as public or private offerings in one or more international markets. The equity-raising plan of the bank is in view of sustaining its growth momentum and meeting the Basel II norms.