Azad Engg spurts after inking $53.5 million deal with GE Steam Power
Azad Engineering rallied 7.27% to Rs 1,664.90 after the company signed an agreement worth $53.5 million with GE Steam Power GMBH for the manufacturing and supply of stationary airfoils for power generation.
Under the six-year contract, Azad Engineering will manufacture and supply highly engineered and complex rotating and stationary airfoils for advanced nuclear, industrial, and thermal power industries.
Azad Engineering is engaged in the manufacturing of precision forged and machined components for clean energy, aerospace, defense, oil and gas, and standalone power supply (SPS) as required by OEMs with its manufacturing unit in Hyderabad.
The companys consolidated net profit jumped 42.3% to Rs 23.92 crore on a 35% increase in net sales to Rs 120.48 crore in Q3 FY25 over Q3 FY24.
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Time of India
41 minutes ago
- Time of India
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Thiruvananthapuram: The long-pending Metro rail project in the state capital has hit another roadblock, as the high-level meeting chaired by chief minister on Wednesday failed to finalise the alignment. Tired of too many ads? go ad free now Instead, the state govt decided to constitute an advisory committee to consult stakeholders on the various alignment proposals, effectively pushing the project back to square one. According to sources, the decision to form the committee was taken after multiple stakeholders presented differing alignment suggestions, complicating the planning process. The committee will be formed under the leadership of the chief secretary. It will examine related matters and submit its recommendations. The committee will include the secretaries of revenue, finance, local self-govt and transport departments. Kochi Metro Rail Limited (KMRL), the implementing agency of the project, presented six alignment options during the meeting. However, Shashi Tharoor, MP, who participated online, also submitted his alignment proposals, prompting the chief minister to recommend further stakeholder consultation before moving forward. In a post on social media platform X, Tharoor wrote, "Had a very constructive online meeting this morning (Wednesday), chaired by the Chief Minister @pinarayivijayan, to discuss plans for a Metro in Thiruvananthapuram, something I have been clamouring for ever since becoming an MP." He added that an advisory committee would be formed to evaluate the proposals. "Our vision for the Metro must be to anticipate the needs of generations yet unborn," Tharoor posted. Tired of too many ads? go ad free now "I am confident that, with the right approach, we can make Thiruvananthapuram an ideal capital city for the 21st century," he added. Meanwhile, KMRL chief Loknath Behera described the meeting as positive and expressed hope that a final decision would be made soon. "A presentation about the alignments of the proposed Metro rail in Thiruvananthapuram was completed. Now, the govt has to take a final decision," he told TOI. Once the alignment is finalised, it will be handed back to KMRL to revise the detailed project report (DPR) originally prepared by Delhi Metro Rail Corporation (DMRC). The DPR's executive summary was submitted to the state govt in Feb 2024. The finance department gave its approval to the project earlier this year. After the chief minister's nod, the project will be sent to the state cabinet for final clearance. In the 2025-26 state budget, the govt announced that preliminary work on the Metro would begin within the year. However, alignment disputes continue to stall progress. The transport department earlier rejected DMRC's original alignment, citing impracticalities and suggested an alternative route beginning at Kazhakkoottam instead of Pallipuram on NH 66. As per the previous cost estimate prepared by DMRC, the project will cost Rs 11,560.8 crore. The KMRL proposed a conventional Metro in Thiruvananthapuram instead of a light Metro, which was initially proposed. It was earlier said that DMRC would submit the report to the KMRL in Jan last year, which would in turn submit it to the state govt by the end of Jan after reviewing it. However, it was delayed.
Time of India
an hour ago
- Time of India
Ranchi vendor markets sinking under choked drains, unhygienic surroundings, & poor infra
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Time of India
an hour ago
- Time of India
After SC order, MMRDA seeks price bids from L&T on projects
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