Heavy electrical equipment manufacturer, Crompton Greaves Ltd said it formed a joint venture with Spain-based ZIV Aplicaciones y Tecnologia to manufacture substation automation systems in India. Both companies will invest about Rs10 crore in the joint venture with Crompton Greaves will invest Rs7 crore for a 70% shareholding, it said in a regulatory filing.
The joint venture company in India will manufacture substation automation systems for substations, including protective relays, differential relays, bay control units, bus-bar systems, substation units, etc, said the company in a regulatory filing.
On Monday, Crompton Greaves shares gained 1.5% to Rs309 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.2% higher at 19,208 points.
State-run NMDC Ltd said it signed an agreement with Kopano Logistics Services (Proprietary) Ltd to set up a joint venture company, which would explore and develop mineral properties in South Africa. No financials were provided.
On Monday, NMDC shares rose 0.6% to Rs261 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.2% higher at 19,208 points.
Alstom Projects India Ltd (APIL) said its consortium with France-based Alstom Transport SA received a contract worth around Rs1,470 crore from Chennai Metro Rail Ltd. The scope of work includes design, manufacture, supply, testing and commissioning of electric multiple units and training of employees.
Out of the entire contract, APIL's scope of work would be Rs779 crore, it said in a statement.
On Monday, APIL shares gained 2.2% to Rs737 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.2% higher at 19,208 points.