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KEC International on Wednesday said the company sees "no bearing" on the execution of existing contracts from Powergrid, after being excluded from participating in future tenders by the state-owned transmission player. The company has issued a clarification after receiving a communication from Power Grid Corporation of India Ltd (PGCIL) that it has been excluded for a period of nine months related to an earlier issue. In a statement to exchanges, KEC International said it "does not foresee any material impact on its ongoing operations or financial position". The company said it is examining various options available, including legal recourse/approaching PGCIL for reconsideration of the matter. In a filing to exchanges on Tuesday, KEC International informed "receiving a letter from PGCIL informing that the company has been excluded from participating in tenders of PGCIL and award of contracts by it for a period of 9 months... for alleged transgression of contractual provisions, in .
Tyre maker CEAT Ltd is looking to cash in on the growth of passenger vehicles sales in India, which will boost demand in the replacement market going forward, according to the company Managing Director & CEO Arnab Banerjee. The company is also gearing up to enter the passenger vehicles (PV) and truck and bus radial (TBR) tyre market in the US in the first quarter of the next fiscal, with an eye on making its international business one of the growth engines. "Four million cars means immediate translation into replacement demand in the next two to three years. So it is a very good trajectory. The Original Equipment Manufacturer (OEM) trajectory is boding very well for the replacement market," Banerjee told PTI. He was responding to a query on the impact of the growth of PV sales in India on tyre makers. In 2023, PV sales in India touched a record high at 41.08 lakh units, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total ...
Engineering firm KEC International on Tuesday said it has bagged new projects worth Rs 1,005 crore across its various business verticals, including railways and cables. The RPG Group company has bagged projects for transmission and distribution and cabling in the domestic market as well as in the Middle East, Europe, Africa and Americas. In the railways vertical, it has "secured an order for 25 kV overhead electrification (OHE) and associated works in the conventional segment in India," the company said in a regulatory filing. The company has secured orders for the supply of various types of cables in the domestic market and overseas. "We are particularly enthused by the order in railways, which further consolidates our order book in the conventional railway segment. With these orders, our YTD (Year to Date) order intake stands at Rs 10,000 crore," KEC International Ltd MD & CEO Vimal Kejriwal said. KEC International is a global infrastructure engineering, procurement and ...
Engineering firm KEC International has bagged new orders worth Rs 1,007 crore, including for construction of a multi-speciality hospital. Its civil business vertical secured an order for design, engineering, procurement and construction of a multi-speciality hospital in eastern India, the company said in a regulatory filing on Friday. The company's transmission and distribution business secured an order for a 380 kV overhead transmission line project in the Middle East. The cables business bagged orders from within the country and abroad. "KEC International Ltd, an RPG Group company, has secured new orders of Rs 1,007 crore across its various businesses," the filing said. "With these orders, our YTD (Year To Date) order intake stands at a record of over Rs 5,500 crore, registering a strong growth of 15 per cent from last year," Vimal Kejriwal, Managing Director and Chief Executive Officer of KEC International, said.