Wheels India had earlier this fiscal entered into a technical agreement with Topy Industries
Wheels India, supplier to vehicles including cars, trucks and tractors, will invest over Rs70 crore this year on expansion.
A significant part of the investment will be for growing the exports market, the company's managing director Srivats Ram told PTI.
The company has plants at Padi and Sriperumbudur in Tamil Nadu; Pune, Rampur, Bawal and Pantnagar with overall annual capacity of 15 million wheels, he said.
While over 80% of the business comes from the domestic market, the company exports wheels for off-road construction equipments and agricultural applications to Japan, Korea, US, Brazil, Belgium, South Africa, China and Indonesia.
Wheels India had earlier this fiscal entered into a technical agreement with Topy Industries, a Japanese steel wheel manufacturer, for process, design and development of car wheels.
In the late afternoon, Wheels India was trading at around Rs599 per share on the Bombay Stock Exchange, 18.36% up from the previous close.
The orders shall be completed in 12 months
Construction company RPP Infra Projects Ltd has won new orders worth Rs30 crore in the irrigation and building sector in Tamil Nadu.
The orders include one for construction of a library building for Central Library Buildings at Thiruvarur, Tamil Nadu under the Central Public Works Department.
Other orders are for rehabilitation and modernization of supply channels in Vellore and Villupuram districts under Water Resources Department, Public Works Department Tamil Nadu. The orders shall be completed in 12 months.
In the late afternoon, RPP Infra was trading at around Rs69 per share on the Bombay Stock Exchange, 3.84% up from the previous close.
Cennergi will be based in South Africa and will focus on the investigation of feasibility, ownership and operation of electricity generation projects
Tata Power Company Ltd through its subsidiary, Khopoli Investments Ltd and Exxaro Resources Ltd (Exxaro), South African-based diversified resources company have announced the formation of a 50:50 joint venture (JV) to create a new energy company, Cennergi (Pty) Ltd (Cennergi).
Cennergi will be based in South Africa and will focus on the investigation of feasibility, development, ownership, operation, maintenance, acquisition and management of electricity generation projects in South Africa, Botswana and Namibia. The initial project pipeline focuses on renewable energy projects in South Africa and Cennergi's strategy is to create a balanced portfolio of generation assets.
In the late afternoon, Tata Power was trading at around Rs113 per share on the Bombay Stock Exchange, 1.99% down from the previous close.