Shakti Pumps (India) consolidated net profit rises 4.50% in the June 2025 quarter
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Time of India
17 minutes ago
- Time of India
Pixxel-led consortium to use own funds for EO satellite constellation
Pixxel-led consortium that won the government contract to design, build, and operate India's first fully indigenous commercial Earth Observation (EO) satellite constellation bid at zero cost. This means the group will bear the entire Rs 1,200 crore investment while forgoing the government's public-private partnership (PPP) offer of up to Rs 350 crore in support.'The winning bid was zero. I cannot reveal the other bids, but this zero bid by the consortium is a very strong statement that the private sector sees immense opportunities in space,' IN-SPACe chairman Pawan Goenka confirmed to Pixxel consortium, comprising SatSure, PierSight, and Dhruva Space, on Tuesday emerged as the lowest bidder (L1), ahead of two other technically qualified groups: Astra Microwave Products Bharat Electronics , Sisir Radar, and Spectragaze Systems; the second one was GalaxEye Space, with added that without an Indian constellation, the country would end up spending heavily on foreign data, and noted that the PPP model had drawn strong interest. Asked if IN-SPACe had estimated potential savings, he said it would depend on the constellation's revenue.'The lowest revenue estimate among the bidders was Rs 1,800 crore annually. If all of that would otherwise be imported, India could save about Rs 9,000 crore (~$1 billion) over five years,' he founder Awais Ahmed said the partners are confident of recovering the investment within a few years of operations, given strong demand in India and global markets. 'Pixxel and our consortium members will pool in our own fundraised money to put into the project. At a future stage we could augment it with more investor funding or by bringing a strategic partner or debt financing as well,' he told has raised $95 million across 11 rounds so far. SatSure has raised $27.1 million in 11 rounds, Dhruva Space $16.1 million in seven rounds, and PierSight $6.6 million in two rounds, according to consortium said its primary customer will be the Indian government. The group will also leverage its global customers globally in agriculture, oil and gas, mining and maritime sectors. "We'll sell to them as well and then other friendly governments,' Ahmed first satellite will launch within two years, with the rest following over two-and-a-half years. Goenka stressed that all contractual obligations, local content norms, and penalties will still apply despite no government project will deploy 12 satellites over four years carrying optical, hyperspectral, multispectral and synthetic aperture radar (SAR) sensors to deliver high-resolution data for agriculture, urban planning, disaster management, climate monitoring, and national security.
Indian Express
17 minutes ago
- Indian Express
5.5-km Bhangel elevated road completed, awaits inauguration
The Noida Authority has completed the construction of the 5.5-km Bhangel elevated road over the Dadri-Surajpur-Chhalera (DSC) road, which extends from Vikas Marg in Noida's Sector 51 to the Noida Special Economic Zone (NSEZ), connecting Noida to Dadri, officials said on Wednesday. The authority, however, has not announced when the road will be inaugurated. Officials said the multi-point elevated road, built at a cost of Rs 608 crore, will make the traffic movement between Noida and Greater Noida smoother. Deputy General Manager (Civil Works) of Noida Authority, Vijay Rawal, told The Indian Express that the elevated road will benefit at least two lakh people living in Greater Noida. 'Majority of labourers stay in Phase 2 and NSEZ. Their travel time will be reduced from 35-40 minutes to just five minutes,' said Rawal. The project was launched in June 2020 and the inauguration was initially scheduled for December 2022. However, the project took over five years to be completed. Officials further said that several other projects under Noida Authority have been completed. 'The 5.54-km-long Chilla Elevated Road near Mayur Vihar will connect Akshardham via Noida's Sector 14,' said an official, adding that the deadline for the completion of the project is December 2027. An official statement issued by the authority stated that the Metro line between Depot Station and Botanical Garden is under construction. This will be a 2.6-km-long line connecting Tugalpur village to Botanical Garden and the cost of the project is estimated at Rs 416.34 crore, it added. 'One more corridor from Noida Sector 142 to Greater Noida West has also been proposed. The project has already been approved by the Uttar Pradesh government and is under consideration at the central level. This 11.56-km-long corridor will have eight stations,' said an official. As per the authority, another Metro line from Noida Sector 51 to Greater Noida's Knowledge Park area is awaiting approval by the Centre. This 17.4-km-long line will have 11 stations. The official added: 'A walking track, parking, cycling and food vending zones are among facilities that would come up at three locations — Noida's Sector 18, GIP Mall and Botanical Garden.'
India Today
41 minutes ago
- India Today
Gujarat's textile industry threatened by 50% US tariffs demands 10% export incentive
Gujarat's textile sector is staring at a severe crisis after the US announced a 50 per cent tariff on all imports from India — a move industry leaders say could force many exporters to shut shop. Industry stakeholders have urged the Centre to step in to take effective measures, including a 10 per cent export incentive to help offset the tariff's new duty was imposed by US President Donald Trump in two stages — a 25 per cent tariff on all Indian imports and an additional 25 per cent penalty over India's continued purchase of Russian oil. The Indian government condemned the decision and has refused to bow to American pressure to stop buying Russian blow is particularly harsh for Gujarat, home to major textile hubs Ahmedabad and Surat. India's total textile exports to the US are valued at USD 10–12 billion annually, with Gujarat accounting for more than 15 per cent of that trade. Sandip Shah, co-chairman of the textile committee of the Gujarat Chamber of Commerce and Industry, said exporters had initially hoped the earlier 25 per cent tariff would be rolled back after talks. "But with 50 per cent now in place, trade with America has become impossible," he said. "For textiles, the US market is now almost shut".According to Shah, such a sudden halt in trade will create serious liquidity problems. "If this is not resolved quickly, it could take the industry more than six months to recover," he believe that Surat, known for its synthetic fabric exports, will be hit Gujarati, former president of the Southern Gujarat Chambers of Commerce and Industries, said the city alone accounts for Rs 3,000–Rs 4,000 crore in direct exports to the US. "The indirect impact will be even bigger — losses could touch Rs 10,000–Rs 12,000 crore because several allied industries depend on textiles," he some, the only option might be to shut down or relocate production. "If 50 per cent tariff is implemented, no one will be able to export to the US," said PR Kankaria, owner of Kankaria Textiles in Ahmedabad. "Units will close, artisans will lose jobs, and many will have to migrate".Industry bodies are urging the central government to step in. One proposal is for a 10 per cent export incentive to help offset the tariff's impact and redirect exports to other countries. "If we get incentives, our exports to other markets can triple," said Kankaria. "If not, everything will stop".advertisementThe US remains a key buyer of Indian textiles, and losing that market could have ripple effects across supply chains — from yarn makers to embroidery the sector has diversified exports to regions like Europe, West Asia, and Latin America, replacing the US market in the short term will be industry hopes for urgent action. "We still expect the government to make a decision in traders' interest so that losses are minimised," said the trade standoff now tied to geopolitical tensions over Russian oil, analysts warn the textile industry's fate may depend as much on foreign policy as on economic measures.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends
