Texmaco Rail share price: Railway stock jumps 9% after THIS order worth ₹535 crore
According to Texmaco's Vice-Chairman Indrajit Mookerjee, the agreement aligns with India's 'Make for World' initiative, while Managing Director Sudipta Mukherjee emphasized that it showcases the manufacturing capabilities of the nation.
Rana Pratap Singh, CEO of CAMALCO, mentioned that this collaboration contributes to the development of infrastructure in Cameroon.
Company representatives stated that the contract enhances Texmaco's order backlog to ₹ 7,820 crore, solidifying its presence in both African and global markets.
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Business Standard
4 hours ago
- Business Standard
Vedanta rejects Viceroy's claim its Namibia zinc assets are worthless
Vedanta Ltd's Zinc International unit is holding 'worthless' overseas assets whose loans are secured against the company's stake in Hindustan Zinc Ltd, according to a report by Viceroy Research Group, which warned that liabilities from its idled Skorpion zinc complex in Namibia remain unaccounted for. The Skorpion mine and smelter, once touted as a key pillar of Vedanta's African operations, has been shut since a wall collapse in 2020 and is now 'a scrapheap' with no industrial power, missing equipment, and no sign of restart activity, the short-seller said on Monday. Despite being carried on Vedanta's books at about $70 million, the site is 'functionally beyond economic recovery' and must undergo rehabilitation, for which no adequate provision has been made, Viceroy said. 'While the Skorpion complex itself is held on-book at a nominal $70 million valuation, it supports a $1 billion valuation of Skorpion's sister mine – Black Mountain/Gamsberg,' it said. Rejecting the allegations, a Vedanta spokesperson said the Skorpion zinc mine was acquired by the company in 2010, when the remaining life of mine was estimated at just four years. 'Through sustained investment, rigorous exploration, and advanced geological analysis, Vedanta successfully operated the mine for a full decade, until 2020. In that year, the mine was placed under care and maintenance. This strategic pause was implemented to chart a sustainable path forward. Skorpion is currently undergoing a structured and technically supported evaluation and exploration aimed at restart. Multiple bankable feasibility studies have been completed for various projects. Skorpion Zinc remains one of Africa's most significant and strategic zinc assets, and the company is fully committed to the project,' the spokesperson said. According to Viceroy, Zinc International's debts are cross-guaranteed with other Vedanta assets, and financing for the African operations is secured against the group's shares in Hindustan Zinc. That potentially exposes Vedanta's crown jewel in India to lenders if the overseas operations default, it warned. Vedanta has allocated just $16 million for Skorpion's cleanup — far short of the hundreds of millions of dollars typically needed for such mine closures — and is likely to place the asset into liquidation once inventories are sold, Viceroy alleged. The mine's environmental liabilities, including lead contamination in the nearby town of Rosh Pinah, remain unresolved. The report also cast doubt on Vedanta's plans to retrofit the Skorpion smelter to process ore from its Black Mountain mine in South Africa, saying the conversion would require a full rebuild, new power arrangements, and road infrastructure that does not exist. 'Viceroy's visit to Skorpion enforces our belief that the asset is completely worthless. Management's plans to re-start the mine and convert the smelter are pure fiction,' it said.
Time of India
9 hours ago
- Time of India
Indian auto component makers see huge export potential in aftermarket: EY-Parthenon
Indian auto component manufacturers have a significant opportunity to grow their exports particularly in the independent aftermarket segment , according to a new report by EY-Parthenon. The study noted that mature markets such as Brazil, Indonesia, and Colombia, alongside emerging regions in Africa, offer strong growth prospects for Indian suppliers, driven by demand for cost-effective and readily available parts. Indonesia's aftermarket is projected to reach $7,759 million by 2028, with importers valuing short lead times and flexible order quantities — areas where Indian exporters have a competitive edge. Brazil's aftermarket is expected to touch $12,091 million, supported by a large vehicle population and ageing fleet, while Colombia's market is estimated at $1,999 million. In Africa, North and South Africa are forecast to have aftermarket sizes of $3,415 million and $3,685 million respectively, with strong demand from independent garages. East and West Africa, projected at $521 million and $ 596 million, remain highly price-sensitive, preferring parts up to 50 per cent cheaper than Chinese-origin alternatives. The UAE, with an $888 million aftermarket, also serves as a trade gateway to GCC countries and Africa, offering logistical advantages to Indian exporters. The report added that by leveraging cost competitiveness, organised supply channels, and proximity to high-growth markets, Indian component makers can expand their global footprint, particularly in Brazil, Indonesia, Colombia, and key African markets.
Economic Times
15 hours ago
- Economic Times
Indian auto component makers have huge export opportunities in markets of Brazil, Colombia, Poland, Africa: Report
Synopsis A report suggests Indian auto component makers can boost exports. The independent aftermarket segment offers big potential. Brazil, Indonesia, and Colombia are key markets. Africa also presents opportunities due to demand for lower-priced parts. The UAE serves as a trade gateway. Indian exporters can leverage cost advantages. They can strengthen their global presence in high-growth markets. ANI Indian auto component makers have huge export opportunities in markets of Brazil, Colombia, Poland, Africa: Report Indian auto component manufacturers have a significant opportunity to expand their exports, particularly in the independent aftermarket segment, according to a report by EY-Parthenon. The report highlighted that the global auto component market offers strong growth prospects for Indian suppliers, with countries like Brazil, Indonesia, Colombia, and various African regions showing significant potential. It stated, "The global auto component market, especially the independent aftermarket presents a large opportunity for our industry".The study in the report divides the opportunity into two broad market categories, mature markets with substantial consumption and developing markets with strategic trade mature markets, Indonesia stands out with a projected aftermarket size of USD 7,759 million by 2028. Here, importers prefer short lead times and flexible order quantities, which Indian suppliers can meet effectively. Latin American countries, particularly Brazil and Colombia, also present attractive prospects. Brazil, with a large number of vehicles on the road and a high average vehicle age, is expected to have a massive USD 12,091 million aftermarket aftermarket is projected at USD 1,999 million. These markets demand organised supply through large distributors and wholesalers, an area where Indian exporters can strengthen their with an expected USD 4,769 million aftermarket, is another example of a mature market, though the primary focus for Indian players remains Brazil, Indonesia, and report also shared that the developing markets also hold immense promise, especially across Africa is projected to have an aftermarket size of USD 3,415 million, South Africa USD 3,685 million, East Africa USD 521 million, and West Africa USD 596 regions have a strong preference for lower-priced parts compared to genuine parts, providing Indian manufacturers an edge. The rising number of independent garages in North and South Africa further boosts demand for aftermarket report noted that customers in East and West Africa are highly price-sensitive and receptive to cheaper alternatives, including parts that are up to 50 per cent less expensive than Chinese-origin UAE, with an aftermarket size of USD 888 million, also plays a key role as a trade gateway for the Gulf Cooperation Council (GCC) countries and Africa, offering logistical advantages and quicker turnaround these opportunities, Indian auto component exporters can tap into high-growth markets, leverage cost advantages, and strengthen their global presence, particularly in Brazil, Indonesia, Colombia, and Africa.
