Corporate News Highlights : Key Players Welspun Corp, Himalaya Food, Choice Consultancy, Bharat Electronics Limited etc.
Corporate News – 1 ) Welspun Corp Secures Repeat Export Order for Offshore Project
Welspun Corp Limited (WCL) has secured a prestigious repeat export order for the supply of 50 kilometers of Longitudinal Submerged Arc Welded (LSAW) Pipes and Bends. These will include anti-corrosion and concrete weight coating (CWC), highlighting the company’s expertise in delivering high-grade products for critical offshore projects in the Middle East.
Global Recognition for Quality and Technology
This latest order reinforces Welspun Corp’s global reputation for superior technology, uncompromised quality standards, and a strong track record in handling sour service requirements. The company continues to be a preferred partner for complex infrastructure developments, especially in the energy sector.
Cumulative Orders Worth ₹450 Crore
In addition to the offshore project order, Welspun Corp has also secured new domestic orders valued at approximately ₹450 crore for its India-based pipes facility. These projects are scheduled for execution during the financial years FY26 and FY27, strengthening the company’s future revenue pipeline.
Commitment to Transparency and Compliance
The company has disclosed this development in adherence to Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements. It emphasizes Welspun’s commitment to fair disclosure and robust corporate governance.
This new order adds further momentum to Welspun Corp’s growth trajectory in the global pipe manufacturing sector.
Corporate News 2 ) Himalaya Food International Secures Major US Export Order
Bulk Order for Brown Patties from Leading US Manufacturer
Himalaya Food International Limited has received a significant export order from a major US-based food manufacturer for its popular Brown Patties. The contract includes a total of 18 containers, each containing 2,500 cases, with a total weight of approximately 742,500 lbs (336,820 kgs). This bulk order showcases the company’s growing presence in the international frozen food market.
USD 1 Million Deal to Boost Revenue
The total value of the order stands at USD 1.017 million, equivalent to INR 8.68 crore at the prevailing exchange rate as of June 2, 2025. Scheduled for delivery every two weeks, the shipment will cover all 48 contiguous states in the USA, ensuring widespread product availability.
Seamless Logistics via US Associate Entity
The order is being executed through Himalaya’s US associate, Himalaya International Inc. DBA Global Food, which is managing logistics, customs, and compliance. Notably, the US entity is not earning any profit from this facilitation, reflecting the company’s focus on relationship building and strategic growth.
Corporate News 3 ) Choice Consultancy Services Secures ₹63.47 Crore Projects in Maharashtra and Odisha
Major Public Sector Wins Strengthen Choice’s Advisory Role
Choice Consultancy Services Pvt Ltd, the public sector consulting arm of Choice International Limited, has bagged two prestigious government projects worth ₹63.47 crore. These wins significantly enhance the firm’s footprint in public infrastructure development and public policy implementation across India.
World Bank-Backed MahaSTRIDE Project in Maharashtra
The first project, valued at ₹52.80 crore, has been awarded by the Maharashtra Institution for Transformation (MITRA). It falls under the World Bank-supported MahaSTRIDE initiative, aiming to establish District Strategic Units (DSUs) in Chhatrapati Sambhajinagar Division. This five-year engagement focuses on improving district-level institutional capacity and fostering data-driven governance to support Maharashtra’s $1 trillion economy vision.
Urban Infrastructure Consulting for 58 Towns in Odisha
Choice Consultancy also emerged as the top-ranked bidder (H1) for a ₹10.67 crore consultancy contract in Odisha. Issued by the State Urban Development Agency (SUDA), this two-year engagement covers engineering consultancy services for 58 Urban Local Bodies, helping bolster technical capabilities amid rapid urbanization.
Corporate News 4 ) NTPC Green Energy Clarifies Subsidiary Structure in Power Purchase Agreement Update
Correction on PPA Disclosure
NTPC Green Energy Limited (NGEL), a subsidiary of India’s largest power utility NTPC Limited, has issued an official clarification regarding its earlier disclosure dated June 4, 2025. The initial update related to the signing of a Power Purchase Agreement (PPA) by NTPC Renewable Energy Limited, which was incorrectly referred to as a direct subsidiary of NTPC Limited.
NTPC Renewable Energy Is Subsidiary of NGEL
In its revised filing on June 5, 2025, NGEL confirmed that NTPC Renewable Energy Limited is, in fact, a wholly owned subsidiary of NTPC Green Energy Limited — not NTPC Limited directly. This clarification was submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Transparency and Compliance at Core
This update reinforces NGEL’s commitment to transparency and regulatory compliance. By promptly correcting the ownership structure, the company continues to uphold high standards of corporate governance in line with SEBI norms.
Corporate News 5) Setco Automotive Launches Advanced Water Pump for Commercial Vehicles
Diversifying Beyond Clutches with Innovation
Setco Automotive Limited, a leading name in clutch manufacturing for medium and heavy commercial vehicles (MHCVs), has launched its newest product—an Automotive Water Pump. This strategic expansion into engine cooling systems showcases Setco’s commitment to innovation and engineering excellence in the auto component industry.
High-Performance Features for LCVs and MHCVs
The newly launched water pump is designed to meet the demanding performance needs of Light and Medium/Heavy Commercial Vehicles. It features:
- Superior long-life seal integrity
- High load-bearing capacity
- Enhanced NVH (Noise, Vibration & Harshness) isolation
- Thermal-optimized impeller materials
These features ensure efficient engine cooling, durability, and consistent performance under varied operational environments.
Strengthening OEM and Aftermarket Presence
According to Chairman & MD Harish Sheth, the water pump reflects Setco’s focus on delivering premium-quality components. It also strengthens the company’s relationships with OEMs and aftermarket stakeholders.
About Setco Automotive
Founded in 1982, Setco offers over 100 products in the commercial vehicle segment and operates across global markets including the US, UK, SAARC, and the Middle East. With five manufacturing units and R&D centres in India and the UK, Setco continues to be a benchmark in auto components.
Corporate News 6) Power & Instrumentation (Guj.) Limited Secures Major Work Order for Udaipur Air Terminal
Power & Instrumentation (Guj.) Limited (PIGL), an ISO 9001:2008 certified company, has officially announced the receipt of a significant work order worth Rs. 6,25,40,000/- (Six Crores Twenty-Five Lakhs Forty Thousand Only). The order pertains to the design, supply, installation, testing, commissioning, and handover of the power supply system for the Udaipur Air Terminal in Rajasthan. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Project Details
The contract has been awarded by Nyati Engineering & Construction Private Limited, a domestic entity. The project is slated for completion within 6 months from the effective date of the contract. The scope of work includes full execution of the electrical power supply system, ensuring seamless functionality for the airport infrastructure.
Corporate News 7) A Milestone for Go Fashion (India) Limited
Go Fashion (India) Limited, the parent company of Go Colors, has marked its international debut with the opening of its first overseas store in Dubai’s Silicon Central Mall. This strategic expansion, executed in partnership with Apparel Group, a leading retail conglomerate in the Middle East, aligns with the company’s vision to establish a global presence.
Strategic Partnership with Apparel Group
The collaboration with Apparel Group—which operates 2,300+ stores across 14 countries—provides Go Colors with a strong foothold in the GCC market. The Dubai store will feature a curated selection of leggings, denims, trousers, and joggers, catering to diverse fashion needs.
Leadership Insights
Mr. Gautam Saraogi, ED & CEO, highlighted Dubai’s dynamic market as an ideal launchpad for international growth. Neeraj Teckchandani, CEO of Apparel Group, emphasized Go Colors’ affordable, stylish, and inclusive fashion as a perfect fit for their portfolio.
Future Growth Prospects
With over 750 stores in India, Go Colors’ Dubai launch signals its ambition to expand further in the Middle East. This move is expected to strengthen brand visibility and drive long-term growth.
Corporate News 8) Kilburn Engineering Secures Major Orders Worth ₹30.81 Crores
Kilburn Engineering Ltd. has announced the receipt of multiple orders totaling ₹30.81 crores (₹3,081 lacs). The contracts include:
- ₹29.89 crores for a granulation and drying package for Ammonium Nitrate and Nitric Acid.
- ₹92 lacs for Tea Dryers and Spares/Services.
These orders align with the company’s core business operations and were disclosed under SEBI’s Listing Obligations and Disclosure Requirements (Regulation 30).
Business Impact
The new contracts reinforce Kilburn Engineering’s expertise in engineering solutions for industrial processes, particularly in chemicals and agro-processing. The Ammonium Nitrate project highlights its capabilities in large-scale chemical processing, while the Tea Dryers order underscores its presence in the agricultural machinery sector.
Corporate News 9 ) Intellect Design Arena Secures Transformational Deal with South African Bank
Landmark Multi-Country Implementation
Intellect Design Arena Ltd. has announced a milestone engagement with a leading South African bank to deploy its eMACH.ai Digital Engagement Platform (DEP) across nine countries. This deal represents a major step in the bank’s digital transformation journey, with the platform serving six countries on Cloud and three On-Premise to comply with data residency requirements.
Revolutionizing Customer Experience
The eMACH.ai DEP will enable the bank to deliver:
- Personalized, seamless experiences across all customer touchpoints
- Rapid app launches using a codeless platform with 750+ front-end journeys
- Enhanced scalability with 520+ open APIs for integration with fintech and third-party systems
Leadership Perspective
Rajesh Saxena, CEO of Intellect Consumer Banking, emphasized the platform’s ability to drive global digital banking innovation, stating, “This engagement underscores our commitment to empowering banks with cutting-edge, future-ready solutions.”
About Intellect Design Arena
A global leader in fintech solutions, Intellect serves 325+ clients across 57 countries with its AI-powered eMACH.ai platform. The company’s microservices-based architecture ensures agility and scalability for financial institutions worldwide.
Corporate News 10 ) RIR Power Electronics Expands SiC Diode Manufacturing in Collaboration with Pro Asia Semiconductor
Strategic Partnership to Boost High-Efficiency Power Solutions
RIR Power Electronics Ltd. has announced a significant milestone in its manufacturing capabilities with the successful expansion of 1200V Silicon Carbide (SiC) diode production. This achievement was made possible through a collaboration with Pro Asia Semiconductor Corporation (PASC) in Taiwan, leveraging technology IP acquired from Sicamore Semi, USA. The new product lineup includes Schottky Barrier Diodes (SBDs) ranging from 2 to 60 amps, catering to global markets in automotive, industrial, renewable energy, and defence sectors.
Accelerating India’s Semiconductor Ambitions
The partnership aligns with India’s Make in India initiative, reducing reliance on imports and strengthening the domestic semiconductor supply chain. RIR Power’s upcoming SiC facility in Odisha, backed by a ₹618 crore investment, will further enhance indigenous manufacturing and create employment opportunities. The company has already secured orders from key clients like Richardson Electronics (USA) and Ankit Plastics (India), validating the quality and global standards of its products
Corporate News 11 ) Bharat Electronics Limited (BEL) Secures Major Defence Orders Worth ₹2,323 Crores
Key Contracts for Naval Missile System Spares
Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Undertaking, has announced the receipt of significant orders totaling ₹2,323 crores (excluding taxes). These contracts, awarded by Mazagon Dock Shipbuilders Limited (MDL), Mumbai, and Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, involve the supply of base and depot spares for missile systems installed on Indian Naval ships. The spares will play a crucial role in maintaining the operational readiness of mission-critical equipment onboard these vessels.
Strengthening India’s Defence Capabilities
The orders underscore BEL’s pivotal role in supporting India’s defence infrastructure. By ensuring the availability of essential spares, BEL contributes to the seamless functioning of naval systems, enhancing the Indian Navy’s operational efficiency. This achievement aligns with the government’s vision of self-reliance in defence manufacturing and reinforces BEL’s reputation as a trusted supplier in the defence sector.
Commitment to Operational Excellence
BEL’s ability to secure such high-value orders highlights its technical expertise and commitment to delivering reliable defence solutions. As a key player in India’s defence ecosystem, the company continues to drive innovation and support the nation’s strategic goals. This milestone further solidifies BEL’s position as a leader in defence electronics and manufacturing.
Corporate News 12 ) JSW Energy Boosts Green Portfolio with 281 MW Renewable Capacity Addition
JSW Energy Strengthens Renewable Energy Base
JSW Energy Limited has successfully commissioned 281 MW of organic renewable energy capacity, which includes 215 MW of solar power and 66 MW of wind energy. This addition takes the company’s total installed capacity to 12,499 MW and strengthens its renewable energy contribution, now forming 55% of its energy mix.
Power Purchase Agreement Signed with Adani Electricity
In a significant development, JSW Renew Energy Three Limited, a step-down subsidiary of JSW Energy, has signed a 25-year Power Purchase Agreement (PPA) with Adani Electricity Mumbai Limited. This agreement is for a 250 MW wind project located in Maharashtra, with a fixed tariff of ₹3.65/KWh. The project is expected to be commissioned within 24 months and will supply clean energy to Mumbai.
Growth Vision Under Strategy 3.0
JSW Energy currently has a total locked-in generation capacity of 29.9 GW, including 12.5 GW operational and 12.4 GW under construction. The company is also building energy storage capacity of 29.3 GWh and aims to reach 30 GW of generation and 40 GWh of energy storage by FY2030.
Commitment to Sustainability
Part of the USD 24 billion JSW Group, JSW Energy is focused on achieving carbon neutrality by 2050 and continues to lead India’s energy transition through sustainable and innovative solutions.
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