
SCC- Capacit'e (JV) receives LoA for Mumbai-Ahmedabad High Speed Rail project
SCC- Capacit'e (JV) has received Letter of Acceptance (LOA) from National High Speed Rail Corporation (NHSRCL), for a total contract value ofRs 384.72 crore. The scope of the contract involves Design and Build Works for Construction of Maintenance cum Technology Centres at six (6) locations in Gujarat for Mumbai- Ahmedabad High Speed Rail Project. In the aforementioned Joint Venture, SSC Infrastructure holds 60% share as the Lead Partner, while Capacit'e Infraprojects holds a 40% share.Powered by Capital Market - Live News

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Time of India
21 hours ago
- Time of India
Minda Corp forms JV with Japan's Toyodenso to make advanced automotive switches in India
Minda Corporation , the flagship company of the Spark Minda Group, has announced a strategic joint venture (JV) with Japan-based Toyodenso Co., Ltd. to design, develop, manufacture, and market advanced automotive switches for the Indian market. Under the terms of the agreement, Minda Corporation will hold a majority 60 per cent stake in the newly formed JV, while Toyodenso will own the remaining 40 per cent . The partnership is aimed at catering to the rising demand for advanced switching systems across two-wheelers, passenger cars, and other automotive segments in India. The JV has already secured initial orders from Indian customers. A greenfield manufacturing facility is planned to be established in Noida , Uttar Pradesh, and is expected to be operational by the second half of FY 2026–27. 'This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognized technologies into India's automotive ecosystem,' said Ashok Minda, Chairman and Group CEO of Minda Corporation. 'We are very excited and privileged to partner with Toyodenso, a global Japanese company with a rich legacy of technological innovation.' To leverage advanced engineering capabilities The collaboration will leverage Toyodenso's cutting-edge technologies and advanced engineering capabilities, while Minda Corp will contribute with its local manufacturing expertise and strong supply chain network. Commenting on the alliance, Kiyoshi Koide, President, Toyodenso Co., Ltd., said, 'Toyodenso aims to stabilize its business base and will work with SPARK MINDA to develop the Indian market, focusing on manufacturing and sales of automotive parts in this growing region.' The JV aligns with Minda Corp's strategy to strengthen its synergistic product portfolio and localise new technologies in line with the government's ' Make in India ' initiative.

Economic Times
a day ago
- Economic Times
Adani Power shares snap 5-day rally, slip over 1% amid profit-taking
Shares of Adani Power slipped as much as 1.2% on Wednesday to Rs 589 on the BSE, snapping a five-day rally that saw the stock surge nearly 12% since June 3. The decline appears to reflect profit-booking after a sharp upward move driven by a combination of technical strength and long-term growth triggers. ADVERTISEMENT The stock had rallied to an intraday high of Rs 610 on Tuesday, gaining 8.2% during the session and marking its fifth consecutive day of gains. Despite a mixed March-quarter performance—with net profit falling 4% year-on-year to Rs 2,637 crore and a sequential decline of 14%—investor sentiment remained upbeat, supported by long-term order wins and capacity expansion plans. Revenue for the quarter rose 6.5% YoY to Rs 14,237 crore, though it fell 4% compared to the December quarter. Total expenses during the period surged 9% YoY to Rs 11,274 crore. The recent rally was partially driven by Adani Power's announcement in May of a Rs 2 billion greenfield thermal power project. The company secured a Letter of Award to supply 1,500 MW of electricity to Uttar Pradesh Power Corporation Ltd under a long-term power purchase agreement. ADVERTISEMENT The power will be generated from a 2×800 MW ultra-supercritical plant, developed under the DBFOO (Design, Build, Finance, Own, and Operate) InCred Equities, which initiated coverage in May with an 'Add' rating and a price target of Rs 649, described Adani Power as a 'pure play on the Indian thermal space.' It noted that the company generated Rs 200 billion in recurring EBITDA in FY25, backed by a stable revenue mix. ADVERTISEMENT InCred also highlighted the company's merchant power exposure via the Indian Energy Exchange (IEX), with realised prices ranging from Rs 5–6/kWh and peaking at Rs 10/ ahead, Adani Power plans to expand capacity from 17.55 GW to 30.67 GW by FY30, including brownfield additions such as Mahan Phase II (1.66 GW), Raipur Phase II (1.66 GW), and Korba Revival (1.32 GW). InCred noted that this expansion aligns with India's projected 5–6% annual power demand growth, which is expected to drive peak demand to 458 GW by FY32F. ADVERTISEMENT Despite muted earnings, technical indicators remained supportive. The stock has been trading above all eight key simple moving averages—from the 5-day to the 200-day SMA. The Relative Strength Index (RSI) stood at 68.8, near the overbought threshold of 70, while the MACD reading of 6.9 stayed above both its center and signal lines, reinforcing bullish momentum until the latest the stock has gained 15.4% over the past month and 8.5% in the past week, it remains down 23% over the past year, underperforming both the Nifty 50 and Nifty Energy indices. ADVERTISEMENT According to Trendlyne, analyst sentiment remains strong, with a consensus 'Strong Buy' rating on the stock. Also read | From bankruptcy to bull run: Can Reliance Infra & Reliance Power fuel Anil Ambani's comeback saga? (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)


Business Standard
a day ago
- Business Standard
Talbros Automotive Components JVs win orders worth Rs 580 cr
Talbros Automotive Components along with its JV's has received orders worth ~Rs. 580 crore for both domestic and exports market from the leading OEM's. These orders are to be executed over the period of next 5 years. These orders include orders from all the company's product lines like gaskets, heat shields, forging components, chassis and hoses. - Received orders worth ~Rs. 260 crore (includes ~Rs. 150 crore of exports, majorly in Europe) from the sealing business for gaskets and heat shield products and forgings products. Of this, ~Rs. 180 crore is for the gasket & heat shield segment received from multiple OEMs. Remaining ~Rs. 80 crore is for the forgings division. By strategically increasing its exports to Europea region known for its stringent quality standards and specialization in the automotive components industrythe company is deepening its footprint in a highly competitive and demanding market. This expansion not only demonstrates the company's capability to meet global benchmarks but also positions it as a reliable supplier within the European automotive ecosystem. As a result, the company is gaining market share in this region. - Received orders worth ~Rs. 290 crore through JV (Marelli Talbros Chassis Systems) for Chassis components. ~50% of these orders are for EV segment. - Received orders through JV (Talbros Marugo Rubber) worth ~Rs. 30 crore in the domestic market for products like Hoses and A/V. The commercialization for these products will start from the H2 FY26.