The current order book of Welspun Corp stands at Rs6,941 crore
Welspun Corp, the flagship company of the Welspun Group, said it has won orders worth Rs788 crore for plates, coating and other line pipe items.
“With these orders, the current order book of the company stands at Rs6,941 crore,” the company said in a filing to the Bombay Stock Exchange.
Commenting on the order, Welspun chairman BK Goenka said, “With the oil and gas sector showing signs of revival, the market is looking bullish. We are positive that with our technical expertise, coupled with global reach, the company will delivery high quality products and services to our customer.”
Welspun Corporation is among the largest line pipe companies in the world and has a manufacturing capacity of two million tonnes per annum at Dahej in Gujarat. The company also has manufacturing facilities in the United States of America and Saudi Arabia. On Monday, Welspun ended 0.85% up at Rs189.05 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.05% to 18,528.96 points.
Tata Motors exported 498 Nano last month compared to a single unit in the corresponding month last year
Tata Motors has started sending its small car Nano to overseas markets, with shipment of 498 units in April this year and a formal announcement of starting exports of the ‘people’s car’ is expected soon.
According to figures released by Society of Indian Automobile Manufacturers (SIAM) today, Tata Motors exported 498 units last month compared to just a single unit in the corresponding month last year.
When contacted, the company, however, declined to share details such as which are the countries where Nanos have been despatched in last month.
“We will make an announcement regarding exports of Nano very shortly,” a Tata Motors spokesperson told PTI.
Without identifying a timeline to share the details, the official further said: “For various reasons, we need to send out the cars. If we want to market and sell a car tomorrow, then it cannot be started immediately tomorrow.”
Last month, the Tata group had said Tata Motors was “at a very high stage” in finalising a production site for its small car Nano at an overseas location, which could be either in Latin America, South East Asia or Africa.
“The work is at a very high stage,” Tata Industries managing director Kishor Chaukar had said when asked about a time-line to produce Nano in any of the overseas locations.
He had said that the automobile major was exploring various options at different places and looking at uninterrupted supply chain for the components.
Tata Motors is looking at various regions such as Latin America, South East Asia and Africa. “They are looking at any of these possibilities,” Chaukar had said.
Apart from considering land building facilities availability, Tata Motors is looking at supply chain availability and at the accessibilities of markets.
Besides, the company was exploring possibilities in different neighbouring nations such as Nepal.
In June, 2010, Tata Motors’ distributor in Nepal, Sipradi Trading chief executive officer Shambhu Prasad Dahal had said his company would import five Nano cars as a test drive in the first lot by July last year.
He, however, had said the price of Nano could touch NPR 700,000 (about Rs4.5 lakh) because of the 300% customs duty in the Himalayan Kingdom.
Nano, touted as the world’s cheapest car, is now produced at Sanand in Gujarat for the Indian market after initially producing at Pantnagar in Uttarakhand.
On Monday, Tata Motors ended 1.90% down at Rs1,178.15 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.05% to 18,528.96 points.
The joint venture company will serve the Indian heavy engineering industry, supplying both new build gearboxes and aftermarket services
Manufacturer of automotive components, Bharat Forge (BFL) through its wholly owned subsidiary, BF Infrastructure Ventures (BFIVL) has signed a shareholders agreement with David Brown System India (Holdings), part of David Brown Group, manufacturer of gearing products to form a joint venture company in India.
The JV company will be named ‘David Brown Bharat Forge Gear Systems India’ and will serve the Indian heavy engineering industry, supplying both new build gearboxes and aftermarket services to high demand sectors including power, mining, defence, wind, rail and steel.
Initially, David Brown Bharat Forge Gear Systems India is intended to be operational from Bharat Forge’s current facilities. However, by the middle of 2012, it is intended to have a site for gear box assembly and testing. Further, the JV company intends to set-up two service centres in Bangalore and Kolkata by the end of 2011. Additional locations for service centres in Delhi and Hyderabad are being planned by the end of 2013. These service centres will be designed to world class standards, providing rapid aftermarket service and support to key industries.
On Monday, Bharat Forge ended 1.72% up at Rs343.50 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.05% to 18,528.96 points.