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CDSL touches historic milestone; Surpasses 10 crore demat accounts

In a significant feat, Central Depository Services (India) Limited (CDSL), the first and only listed depository in Asia, proudly announces the surpassing of yet another milestone. The company has successfully registered over Ten crore demat accounts, highlighting its robust position in the financial market. This achievement solidifies CDSL's pivotal role in facilitating secure and efficient electronic trading and settlement of securities. As the number of demat accounts under its purview reaches the remarkable 10 crore mark, CDSL continues to play a crucial role in shaping the landscape of the Indian financial ecosystem. For now, CDSL maintains and services more than 10 crore Demat accounts of Investors and Beneficial Owners spread across India. These Beneficial Owners are serviced by CDSL’s more than 580 Depository Participants (DPs) from over 20,000 locations. 

Ceinsys Tech secures order worth ₹9 crore and gets a major project extension

Ceinsys Tech, a subsidiary of the conglomerate Meghe Group of Institutions, specialises in providing engineering, geospatial and IT solutions. The company announced securing a substantial Purchase Order from MAHAGENCO, Maharashtra State Power Generation Company Limited, totalling ₹9,06,24,000. Adding to this positive momentum, Ceinsys Tech has been awarded an extension letter until June 15, 2024, for a major project from the State Water and Sanitation Mission (SWSM), Uttar Pradesh.

This project involves the Selection and Appointment of a Consultant for Third-Party Inspection (TPI) and Monitoring of Physical and Financial Progress through a Quality and Cost Based Selection (QCBS) process for various Rural Water Supply Projects across three clusters, namely Lucknow, Chitrakoot Dham, and Devi Patan. This extension builds upon the existing orders received by the company from SWSM, Uttar Pradesh in FY 2021-22, with the size of the orders/contract depending on the contractor’s actual execution value during the project duration. Ceinsys Tech had previously received Letters of Award from SWSM, Uttar Pradesh, for various Rural Water Supply Projects across the clusters mentioned, amounting to `65.93 crore. Now, the company has received an extension to the aforementioned orders, with the size of the orders/contract contingent on the contractor’s actual execution value during the project duration.

Garden Reach Shipbuilders & Engineers sign MoU to develop electric tugs

Garden Reach Shipbuilders & Engineers Limited (GRSE) has partnered with Shift Clean Energy, Seatech Solutions International, and ABS to develop electric tugs named E-VOLT 50. These tugs aim to reduce carbon emissions, improve operational efficiency, and set new standards for performance and environmental sustainability. GRSE will build the tugs based on Seatech's design, with Shift providing energy storage and ABS ensuring compliance with regulatory standards. This collaboration marks a significant step towards a greener future for the maritime sector.

GRSE's order book as of September 30, 2023, stands at ₹23,739.59 crore. This includes four projects for the Indian Navy, consisting of 19 warships. The company also has orders from the Government of Bangladesh, the Government of West Bengal, and the DRDO. GRSE has recently received a Letter of Intent from the Ministry of Earth Sciences for an Oceanographic Resource Vessel. The three P17 Alpha ships under construction for the Indian Navy have been launched and are undergoing outfitting.Recently, Garden Reach Shipbuilders & Engineers received a letter of intent from the National Centre for Polar and Ocean Research (NCPOR) for the construction and delivery of an ocean research vessel. The total contract value is approximately ₹840 crore, including taxes.

KEC International wins new order worth ₹1,005 crore

KEC International Limited has secured new orders worth ₹1,005 crores across its various businesses, including Transmission and Distribution (T&D), Railways, and Cables. The company has won orders for T&D and cabling projects in India, the Middle East, Europe, Africa, and the Americas, as well as 25 kV Overhead Electrification (OHE) works in the conventional segment in India.

Earlier, the company also secured new orders worth ₹2,157 crore across its various business segments. The company has won orders for T&D projects in India, the Americas, and Saudi Arabia. In the civil segment, the company has secured orders from new clients in the data centre and FMCG segments in India. The company has also reported strong Q1FY24 results, with revenue and PAT growing by 27 and 36 per cent on a YoY basis.

Larsen & Toubro bags new orders worth ₹30,000 crore from the Middle East

Larsen & Toubro Ltd (L & T Ltd) informed that the hydrocarbon business (L&T Energy Hydrocarbon – LTEH) of the company has received a mega offshore order worth approx. ₹15,000 crore from a prestigious client in the Middle East. The scope of work comprises engineering, procurement, construction and installation of a new large offshore platform and brownfield work of integration with existing facilities. The Hydrocarbon Business is executing several domestic and international offshore projects and is committed to expanding its regional presence across adjacent and business-conducive geographies.

Earlier, the Hydrocarbon Business (L&T Energy Hydrocarbon – LTEH) of L & T secured a Letter of Intent for another Ultra-Mega Onshore project worth more than ₹15,000 crore from a prestigious client in the Middle East further to the recent ultra-mega project award for a gas compression plant. The scope of work comprises engineering, procurement, & construction for a gas processing plant consisting of inlet separation facilities, booster compression system, amine gas recovery unit, dehydration unit, mercury removal unit, NGL recovery unit and sales gas compression system in new onshore facilities and its integration with existing gas processing plants.

Netweb Technologies announces partnership with NVIDIA 

Netweb Technologies, a leading Indian Original Equipment Manufacturer (OEM) in high-end computing, announced a strategic partnership with NVIDIA. NTIL is now a manufacturing partner for the NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs. The company plans to produce over ten server variations under its Tyrone range of AI systems, targeting a wide array of AI and high-performance computing applications. 

The collaboration with NVIDIA, particularly involving the MGX platform, positions Netweb's AI systems to address complex workloads, including HPC, data science, language models, edge computing, enterprise AI, and design and simulation. This product range is designed to support multiple workloads simultaneously, such as AI training, inference, and 5G, all on a single system. The collaboration aims to harness the immense potential of AI in India and the Asia-Pacific region, aligning with the 'Make in India' mission.

Coal India reports highest ever profit; announces capex of ₹80,000 crore over the next 5 years

Heralding a miracle in the financial landscape, Coal India Ltd.'s H1FY24 performance reads like a saga of success. Picture this: the highest-ever H1 coal production, offtake, and overburden (OB) removal during the first half of the fiscal year 2023-24. If that's not enough, throw in the highest-ever total revenue from operations and net sales during the same period. Hold on, we're just getting started – record-breaking Q2 Profit Before Tax (PBT), Profit After Tax (PAT), and Net Sales have set the stage on fire. Interestingly, Life Insurance Corporation of India (LIC) has an 11 per cent stake in the company. 

But this is not a tale of resting on laurels; it's a story of ambitious peaks. Coal India Ltd. achieved a pinnacle in FY 2022-23 with a staggering 703.2 million tons of coal production, eyeing an even loftier target of 1 billion tons by FY 2025-26. The company is not merely mining coal; it's sculpting a vision of the future, enhancing its rail infrastructure to boost excavation capacities and aiming for a monumental 1-billion-ton evacuation capability. 

Coal India Ltd supplies a whopping 90 per cent of its production to power generation, with thermal power accounting for 83-85 per cent of the nation's total power output. In a bid to meet the ever-growing power demand, the company has set its sights on a colossal target – 1 billion tons of coal production by FY26-27. In a recent conference call, it was revealed that Coal India Ltd. is poised to spend a staggering ₹80,000 crore as capital expenditure over the next five years. This colossal investment is not just about numbers; it's a strategic move to enhance excavation capacities and drive cost synergies. 

SJVN inks PPA for a 200 MW power project with Solar Energy Corporation of India

Satluj Jal Vidyut Nigam Limited (SJVN) informed that the company has signed a power purchase agreement (PPA) for a 200 MW grid-connected wind power project with Solar Energy Corporation of India Limited (SECI). The tentative cost for the development of this project is ₹1,400 crore. The project is expected to generate 482 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years is 12,050 million units. The project will be commissioned by November 2025 i.e., within 24 Months from the effective date of PPA signing.

SJVN Green Energy Limited (SGEL), a subsidiary of SJVN Limited, has won a 200 MW wind power project at a tariff of ₹3.24 per unit in an open competitive bidding process conducted by the Solar Energy Corporation of India (SECI). The project will be developed by SGEL on a build-own-operate (BOO) basis and will be located anywhere in India. With the allotment of this project, the wind portfolio of SJVN Limited now stands at 497.6 MW.

This is a significant development for SJVN Limited as it expands its presence in the renewable energy sector. Furthermore, SJVN Limited has successfully connected the first unit of its 60 MW Naitwar Mori Hydro Electric Project to the national grid. The project, comprising two 30 MW generating units, is anticipated to generate 265.5 million units of electricity annually. The company has also constructed a transmission line for power evacuation and will provide 12 per cent of the generated electricity to the state as royalty