Power Grid Corp Wins Major Interstate Transmission Projects

Power Grid Corporation of India has secured two significant interstate transmission projects on a Build, Own, Operate, and Transfer (BOOT) basis. These projects aim to enhance power infrastructure and reliability in Karnataka and Rajasthan.

1. Karnataka Project: This includes the development of new pooling substations in Davangere, Chitradurga, and Bellary, along with crucial transmission line upgrades.
2. Rajasthan Project: The project focuses on ICT augmentation at substations in Fatehgarh-II, Fatehgarh-IV, and Barmer-I.

With these contracts, Power Grid strengthens its leadership in India’s power transmission sector by ensuring efficient electricity distribution across key states.

Zaggle Prepaid Ocean Services Forms Strategic Partnership with Redington

Zaggle Prepaid Ocean Services has entered into a five-year strategic partnership with Redington to develop innovative employee benefits solutions for corporate clients.

• The partnership will leverage Google’s technological capabilities via Redington to create digital solutions for workforce benefits.
• This move aligns with Zaggle’s expansion strategy to offer customized financial solutions to businesses.
• The new solutions will focus on employee engagement, productivity, and digital payment innovations.

This collaboration highlights the growing demand for digital payment solutions in corporate India.

Uno Minda Expands into EV Market with New Joint Venture

Uno Minda has signed a joint venture agreement with Suzhou Inovance Automotive and Inovance Automotive (HK) Investment to manufacture powertrain components for electric passenger and commercial vehicles.

• The JV will focus on developing high-performance, cost-effective EV components to cater to India's rapidly growing electric mobility market.
• Uno Minda aims to strengthen its market position in the EV segment while supporting India's green energy transition.
• The collaboration will also help Uno Minda enhance its R&D capabilities in electric powertrain technology.

This strategic move positions Uno Minda as a key player in India’s EV supply chain.

Patel Engineering JV Secures Rs 1,090.5 Crore Order

A joint venture involving Patel Engineering has secured an Rs 1,090.5 crore contract from Maharashtra Krishna Valley Development Corporation.

• The project focuses on building a pipeline distribution network for the Nira Deoghar Right Bank Main Canal.
• It includes excavation, refilling, laying pipelines, installing valves, testing, and maintenance.
• The contract comes with a five-year operations and maintenance period after completion.

This deal strengthens Patel Engineering’s position in India's water infrastructure sector.

SBI Cards Appoints New MD & CEO

SBI Cards and Payment Services has appointed Salila Pande as the new Managing Director (MD) and Chief Executive Officer (CEO) for a two-year term, effective April 1, 2025.

• She succeeds Abhijit Chakravorty, who served as MD & CEO.
• Pande brings extensive experience in digital payments and banking operations.
• SBI Cards aims to strengthen its market presence in India’s rapidly growing credit card industry.

Her leadership is expected to drive innovation and expansion in SBI Cards' services.

ABB India Posts Strong Q3FY25 Results

ABB India has reported a 56% YoY increase in net profit for Q3FY25, reaching Rs 528.4 crore.

• Revenue grew 22% YoY to Rs 3,364.9 crore, driven by robotics, automation, and electrification segments.
• The company benefited from inventory destocking and lower finance costs.
• ABB India is now featured in a stock screener for companies with increasing Return on Equity (RoE) over the past two years.

The Upcoming IPOs in this week and coming weeks are Swasth Foodtech, Beezaasan Explotech, HP Telecom India.

The Current active IPO are Royalarc Electrodes, Tejas Cargo India, Quality Power Electrical Equipments.

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