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Time of India
2 days ago
- Business
- Time of India
RamKrishna Forgings looks to start forged wheel production from Chennai plant in FY27
RamKrishna Forgings aims to foray into forged wheel manufacturing and is in process setting up a manufacturing plant at Chennai having an annual capacity to produce 228,000 forged wheels per annum, according to a senior company official. The company's Managing Director Naresh Jalan in an interaction with PTI said the company is in process setting up the manufacturing plant in Chennai and the total project cost is estimated at Rs 2,000 crore, which is being funded through a mix of debt and equity. "We expect to start with about 40,000 wheels by FY27 and scale up to 1,00,000 by FY28. If all goes as planned, this single vertical could generate multi crore annual revenues, making it one of the company's most significant growth engines," he told PTI. Ramkrishna Forgings & Titagarh Rail Systems Consortium had earlier received a Letter of Award (LOA) for manufacturing and supplying forged wheels for the Indian Railways. Ramkrishna Forgings holds a 51 per cent stake in the Joint Venture and is the lead partner in this railway contract. This foray builds on the company's long-standing partnership with Indian Railways, where it has already expanded from fabrication to the complete assembly of undercarriages, Jalan said. Another area where the company will be entering is undercarriage, he said, adding "we have received first orders from Indian Railways to supply them prototypes for assembled undercarriage". The first supplies of fully assembled undercarriage systems are expected to begin in July, with revenues from this segment projected to touch Rs 250 crore -300 crore over the next two years. Together, these developments mark a clear pivot toward more integrated and value-added offerings, he said. Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings . In FY25, the company had reported a revenue of Rs 4,034 crore, while profit after tax (PAT) was at Rs 331.55 crore.
Time of India
25-06-2025
- Business
- Time of India
Andhra Pradesh cabinet clears new land pooling rules for capital region
AMARAVATI : The Andhra Pradesh cabinet on Tuesday approved the Andhra Pradesh Capital Region Land Pooling Scheme Formulation and Implementation Rules 2025, along with several other proposals, Information and Public Relations (I&PR) Minister K Parthasarathy said. Addressing a press conference at the Secretariat, Parthasarathy noted that the land pooling rules have been framed with the vision of transforming Amaravati into a global city, a financial powerhouse for the state, attracting international educational institutions, establishing an airport, and fulfilling other development requirements. "The Andhra Pradesh Capital Region Land Pooling Scheme Formulation and Implementation Rules 2025 have been approved, keeping the future in mind and to ensure competitiveness with other major cities in the country," Parthasarathy said. All land parcels identified under the land pooling scheme will be brought under a uniform framework, unlike the earlier system where different parcels followed different rules, he added. The greenfield capital city of Amaravati already has a land bank of 54,000 acres, while Naidu aims to acquire another 40,000 acres to transform the region into a futuristic megapolis by integrating Guntur, Vijayawada, Mangalagiri, and Tadepalli. According to Parthasarathy, the land pooling rules have been designed in a manner favourable to farmers. The cabinet has also approved orders to issue Letters of Agreement (LOA) to three contractors-NCC, Shapoorji Pallonji, and L&T-for the construction of 69 lakh sq ft of office space in Amaravati. These projects include the construction of the Heads of the Departments' towers and the General Administration Department (GAD) towers. The minister said the cabinet approved orders for NCC to build two GAD towers at Rs 844 crore, L&T to construct another two GAD towers at Rs 1,247 crore, and Shapoorji Pallonji to build HoD towers at Rs 1,423 crore. Similarly, the cabinet approved a proposal to lease 55 acres of land to the Indian Institute of Legal Education and Research at the rate of Re 1 per sq m per annum in Amaravati. Parthasarathy said the state had initially planned to allot land for the institution at Rs 50 lakh per acre, but dropped the idea as the total cost would have been Rs 25 crore, making the project unviable for the institution. The cabinet also approved the appointment of building inspectors as part of the Andhra Pradesh Capital Region Development Authority (APCRDA) human resources policy. Given the increased workload and rising number of building permits, 40 town planning assistant posts have been created, along with a promotion channel for these positions, among other decisions.
Hans India
25-06-2025
- Business
- Hans India
AP Cabinet nod for new land pooling norms in Amaravati
Vijayawada: The state Cabinet, chaired by Chief Minister Nara Chandrababu Naidu, on Tuesday gave its nod for the Andhra Pradesh Capital Region Land Pooling Scheme Formulation and Implementation Rules 2025. It also approved several other proposals. Speaking to the media at the Secretariat after the Cabinet meet, Information and Public Relations (I&PR) Minister K Parthasarathy said the land pooling rules were framed with an aim to transform Amaravati into a global city, a financial powerhouse for the state, attracting international educational institutions, establishing an airport, and fulfilling other development requirements. "The Andhra Pradesh Capital Region Land Pooling Scheme Formulation and Implementation Rules 2025 have been approved, keeping the future in mind and to ensure competitiveness with other major cities in the country,' Parthasarathy said. All land parcels identified under the land pooling scheme will be brought under a uniform framework, unlike the earlier system where different parcels followed different rules, he added. The government, which already acquired 54,000 acres through land pooling, aims to acquire an additional 40,000 acres to transform the region into a metropolis by integrating Guntur, Vijayawada, Mangalagiri, and Tadepalli. The minister said the land pooling rules had been designed to benefit farmers. Besides the land pooling norms, the Cabinet also approved orders to issue Letters of Agreement (LOA) to three contractors - NCC, Shapoorji Pallonji, and L&T - for the construction of 69 lakh sq ft of office space in Amaravati. These projects include the construction of the Heads of the Departments' towers and the General Administration Department (GAD) towers. Parthasarathy explained that the Cabinet approved orders for NCC to build two GAD towers at Rs 844 crore, L&T to construct another two GAD towers at Rs 1,247 crore, and Shapoorji Pallonji to build HoD towers at Rs 1,423 crore. Similarly, it has given a nod for a proposal to lease 55 acres of land to the Indian Institute of Legal Education and Research at the rate of Re 1 per sq m per annum in Amaravati. Parthasarathy said the state had initially planned to allot land for the institution at Rs 50 lakh per acre, but dropped the idea as the total cost would have been Rs 25 crore, making the project unviable for the institution. Further approvals included the appointment of 40 town planning assistants in CRDA and the establishment of nine more Anna canteens. The Cabinet, led by the Chief Minister, also greenlit the AP Building Rules Amendment proposal, aiming to liberalise building regulations and stimulate construction activity across the state. Additionally, the Cabinet decided to appoint international tennis player Saketh Sai as a deputy collector under the sports quota. Further, the Chief Minister instructed ministers and MLAs to organise meetings in their respective constituencies to highlight the achievements of the NDA government over the past year. He also announced that a door-to-door campaign programme would commence from July 1.
Business Upturn
24-06-2025
- Business
- Business Upturn
Bondada Engineering bags Rs 836 crore battery storage project in Tamil Nadu
Bondada Engineering Limited has received a Letter of Award (LOA) from the Tamil Nadu Green Energy Corporation Limited (TNGECL) for the development of a 400 MWh Battery Energy Storage System (BESS) project. This landmark order marks the largest energy storage assignment in the company's history and is a major milestone in its ongoing mission to achieve 10 GW of green energy capacity by 2030. The project will involve the installation of standalone, grid-scale battery storage units at Vellalaviduthi and Thennampatty in Tamil Nadu. With a total capacity of 400 MWh (200 MW x 2 hours), these facilities are designed to strengthen grid stability, support renewable energy integration, and manage peak electricity demand. The development will follow the Build-Own-Operate (BOO) model and was awarded through a tariff-based competitive bidding process, with viability gap funding support from the state. Scheduled to be integrated into the state grid by 2027, the system aligns with India's National Framework for Energy Storage Systems (NFESS) 2023 and Tamil Nadu's renewable energy target of 50% by 2030. The project will play a key role in advancing India's clean energy objectives, especially the national target of reaching 500 GW of non-fossil fuel capacity. Valued at ₹836 crore, including GST, the project will be executed over a period of 18 months and will generate revenue over 12 years. With this strategic win, Bondada Engineering further cements its position in India's rapidly growing energy storage sector, contributing meaningfully to the country's green transition. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
12-06-2025
- Business
- Business Upturn
SEPC shares gain 5% after Rs 650 crore solar project win in Maharashtra
By Aman Shukla Published on June 12, 2025, 09:39 IST SEPC shares rose 5% in early trade on June 12, 2025, following the announcement of a major ₹650 crore EPC contract win from Parmeshi Urja Limited. The Kolkata-based energy firm has awarded SEPC the responsibility for executing a 133 MW AC solar power project across 26 locations in four districts of Maharashtra. As of 9:37 AM, the shares were trading 5.74% higher at Rs 14.55. The Letter of Award (LOA) was officially received by SEPC on the evening of June 10. This contract marks a significant step forward for the company in expanding its footprint in India's renewable energy sector. Under the agreement, SEPC will handle full Engineering, Procurement, and Construction (EPC) duties, covering all aspects of infrastructure development for solar energy generation. The project is classified as a domestic assignment and aligns with the government's broader push toward clean energy adoption. Execution timelines for each site will be finalized through individual kick-off meetings. The large-scale project is expected to boost SEPC's order book and enhance its profile as a key player in the green energy space. SEPC shares opened at ₹15.00 and touched the same mark as the intraday high, while the low was recorded at ₹14.35. The stock continues to show limited movement in early trade. Over the past year, SEPC has seen a 52-week high of ₹31.53 and a low of ₹11.19. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
