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India: Infrastructure Set to Outpace IT as the Growth Engine
Economy, Equities, Markets - September 23, 2025

India: Infrastructure Set to Outpace IT as the Growth Engine

India: Infrastructure Set to Outpace IT as the Growth Engine

For the past two decades, India’s economic growth story has been dominated by information technology services. Companies such as Infosys, TCS, and Wipro transformed India into a global outsourcing powerhouse, generating consistent earnings, foreign exchange inflows, and strong stock market returns. However, this phase appears to have peaked. The next decade is poised to be driven by infrastructure—encompassing construction, logistics, manufacturing, renewable energy, and digital infrastructure.

The IT Services Slowdown
IT has long been a reliable earnings anchor, contributing nearly 28% of Nifty50 earnings, with exports reaching $245 billion in FY24. Yet, growth is slowing. Between FY19 and FY24, IT services earnings expanded at just 8%–10% annually, compared to 15%–20% in the 2000s. Operating margins, previously 28%–30%, have fallen to 22%–24%. Slower global tech spending, automation, and increased competition are compressing profitability. While the sector remains cash-generative, it no longer dominates India’s growth narrative.

Infrastructure as the New Growth Engine
Infrastructure investment is surging. India’s National Infrastructure Pipeline outlines projects worth ₹143 lakh crore ($1.78 trillion) across energy, transport, and urban sectors from 2020 to 2025, with 40% already under implementation. Public capital expenditure has tripled over the past decade, reaching nearly ₹10 trillion in FY24. As a share of GDP, infrastructure spending has risen from 2% a decade ago to over 3.3%. Private capital formation is also reviving, with Gross Fixed Capital Formation climbing to 34% of GDP in FY24—the highest since 2012.

Manufacturing: The Make in India Boost
Manufacturing is poised to become a major growth driver. Once stagnating at 15% of GDP, the sector could reach 20%–22% by 2030, thanks to the Production Linked Incentive (PLI) scheme worth nearly ₹2 trillion. Electronics exports have surged at a 50% CAGR since FY20, crossing $23 billion in FY24. Industrial credit growth is picking up, reflecting a revival in corporate capex and signaling India’s emergence as a global manufacturing hub.

Logistics and Supply Chain Transformation
India’s logistics costs remain high at 13%–14% of GDP, versus the global average of 8%–9%. Yet improvements are underway: road construction has accelerated to 28 km per day in FY24, compared to 12 km a decade ago. Ports handled a record 1.65 billion tonnes of cargo in FY24—up 8% YoY. Air cargo is also expanding, fueled by e-commerce and pharma exports. Logistics costs are projected to fall to 10% of GDP by 2030, boosting India’s competitiveness in global trade.

Renewable Energy and the Green Transition
Energy infrastructure is another focus area. India targets 500 GW of non-fossil fuel capacity by 2030, with renewables already accounting for 33% of installed capacity. Solar tariffs are among the lowest globally (₹2.3–2.5/unit), enhancing clean energy viability. Renewable investments reached $15 billion in FY24 and are expected to double over the next decade. Firms like NTPC and NHPC are aggressively expanding into green power, creating long-term opportunities for investors.

Digital Infrastructure: The Rise of Data Centres
The digital economy is driving new infrastructure demand. India’s data center capacity is set to quintuple to 8 GW by 2030, requiring $30 billion in capital expenditure. With internet users projected to reach 1.2 billion and regulatory data localization pressures, demand for storage and processing capacity will rise sharply. Real estate, utilities, and private equity investors are heavily funding this segment, adding a new investable theme.

Valuations and Financial Metrics
The valuation gap between IT and infrastructure reflects investor priorities. IT majors trade at 22–24x forward P/E, while infrastructure firms such as L&T, Adani Ports, and IRB Infra trade at 12–18x. Debt-to-equity ratios have improved from 1.2x in FY13 to 0.7x in FY24. Projected returns are compelling: roads and transport projects deliver IRRs of 12%–14%, while renewables generate 10%–12%. IT still offers higher ROCE (20%–22%) but with less growth visibility.

Risks and Challenges
Execution risk is significant: about 25% of National Infrastructure Pipeline projects face delays or cost overruns. Rising global bond yields could increase borrowing costs and reduce project viability. IT, despite slowing, continues to generate high cash flows and 20%–25% operating margins—benchmarks infrastructure cannot immediately match.

Conclusion
India’s growth story is entering a structural shift. The baton is moving from IT services, which powered the economy for two decades, to infrastructure—backed by massive capex, government incentives, and structural demand. Investors should consider reallocating portfolios toward sectors such as construction, logistics, renewables, and data centers. While IT remains relevant, the next decade of wealth creation is likely to be built on hard assets rather than software exports.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Asian Markets Surge Amid AI Optimism

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HAL Q2 FY26: Revenue ₹6,628 Crore (+11%), PAT ₹1,662 Crore (+11.6%) — Margin Pressure Visible
Business, Economy, Equities - August 29, 2025

HAL Set to Benefit from $1 Billion GE Fighter Jet Engine Deal

HAL Set to Benefit from $1 Billion GE Fighter Jet Engine Deal

India Nears Groundbreaking $1 Billion Agreement with GE to Fortify Indigenous Fighter Jet Production. HAL Positioned at the Forefront of Boosting Defense Manufacturing and Technological Self-Reliance.

India’s Strategic Defense Milestone
India is close to sealing a landmark $1 billion defense agreement with US aerospace major General Electric (GE) to supply 113 GE-404 fighter jet engines.
This agreement is critical for powering the Indian Air Force’s indigenous Light Combat Aircraft (LCA) Tejas Mk 1A fleet, a program that embodies India’s pursuit of technological self-reliance and indigenous defense manufacturing under the ‘Atmanirbhar Bharat’ vision.
The deal represents not just a procurement exercise, but a strategic move to ensure the country’s long-term air combat readiness, while reducing dependence on legacy Russian platforms such as the aging MiG-21 fleet.

The Deal in Focus: Engine Supply and Production Continuity
The proposed contract builds on an earlier agreement for 99 GE-404 engines, ensuring that Hindustan Aeronautics Limited (HAL) maintains a steady supply line for Tejas production. The new order, expected to be sealed by September 2025, will provide the engines required to meet ambitious delivery schedules—83 Tejas Mk 1A fighters by 2029-30 and an additional 97 jets by 2033-34.
Production continuity is vital. Without it, delays could hinder the timely replacement of older aircraft and compromise India’s aerial defense preparedness. Securing this deal ensures HAL’s operational continuity, enabling it to fulfill the Indian Air Force’s requirements for a modernized and battle-ready fleet.

HAL’s Role and Technological Gains
As India’s premier aerospace manufacturer, HAL stands to gain significantly from this agreement. Beyond securing engines, HAL is expected to negotiate for an 80% transfer of technology (ToT) with GE, a move that will enable the company to localize a large portion of the engine’s manufacturing.
Such a transfer will not only enhance HAL’s in-house capabilities but also strengthen the domestic defense industrial base, creating a multiplier effect for suppliers and partners within India’s aerospace ecosystem. This positions HAL as a central pillar in the nation’s journey toward self-reliance in advanced defense technologies.

Expanding Horizons: Next-Gen Jet Engine Procurement
The GE-404 deal is just one part of India’s broader fighter jet propulsion roadmap. HAL is in advanced discussions with GE over a $1.5 billion agreement to acquire 200 GE-414 engines.
These more powerful engines will serve as the backbone for future aircraft programs such as the LCA Mark 2 and the indigenous Advanced Medium Combat Aircraft (AMCA).
Crucially, the GE-414 agreement is expected to bring with it a higher degree of technology transfer, giving India deeper know-how in advanced jet engine design and production—an area where the country has long aspired for independence.

Wider Implications for India’s Defense Industry
This forthcoming acquisition is part of India’s strategic push to modernize its air fleet and reduce reliance on foreign suppliers. By securing engines under this deal, India will not only enhance the capabilities of its indigenous Tejas program but also create long-term capacity for future fighter aircraft.
The partnership with GE also signals a matured Indo-US defense collaboration, complementing India’s parallel discussions with French aerospace firm Safran on indigenous engine development. Together, these efforts showcase India’s dual approach: leveraging foreign partnerships for immediate capability while steadily building domestic expertise for the future.

Market and Shareholder Perspectives
News of the impending deal has already generated excitement in financial markets. HAL’s shares have drawn notable investor attention, reflecting optimism about the company’s growth trajectory and strong order book. Analysts point out that large-scale defense contracts, backed by government support and international collaboration, significantly bolster HAL’s financial stability and manufacturing prospects.
The completion of this agreement is likely to provide a strong tailwind for HAL, reinforcing investor confidence and strengthening its reputation as India’s flagship defense manufacturer.

Conclusion
The $1 billion GE-404 fighter engine agreement represents a pivotal milestone in India’s defense modernization efforts.
For HAL, it ensures production continuity, technological advancement, and an expanded role in the country’s strategic aerospace ambitions. For India, it represents progress toward achieving self-reliance in defense while simultaneously modernizing its air fleet.
As the agreement edges closer to finalization, the deal stands as both a practical necessity and a symbolic milestone—one that reinforces India’s position as a rising force in global defense manufacturing.

 

 

 

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Indian Steelmakers Gain as Import Duties Continue and China Cuts Supply

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Indian Steelmakers Gain as Import Duties Continue and China Cuts Supply
Economy, Equities, Markets - August 29, 2025

Indian Steelmakers Gain as Import Duties Continue and China Cuts Supply

Indian Steelmakers Gain as Import Duties Continue and China Cuts Supply

Ongoing Import Tariffs and Reduced Chinese Steel Output Offer New Opportunities for Domestic Producers. Indian Steel Industry Positioned for Growth Amid Protective Policies and Rising Demand.

Import Duties Shielding Indian Steel Industry
India’s steel industry is entering a favorable phase as government policies continue to shield domestic players from foreign competition. In early 2025, the government extended a 12% safeguard duty on specific steel imports, a measure designed to protect local mills from cheap inflows, especially from China.
The duty has created breathing space for India’s small and medium-sized producers, who often struggle to compete against low-cost imports. By limiting the penetration of foreign steel, particularly hot-rolled coils and other key products, the safeguard measure is helping Indian companies consolidate their position in the domestic market. Policymakers have also hinted at the possibility of raising tariffs further, to 24%, should import pressures intensify.
This protectionist environment, while debated internationally, is being viewed domestically as critical for enabling Indian producers to achieve scale, modernize facilities, and prepare for future competition on stronger footing.

China’s Reduced Steel Supply and Its Impact
Globally, the steel supply landscape is also shifting. China’s steel output, which dominates the global market, has seen a slowdown. From January to May 2025, China’s steel output declined by 1.7% year-on-year.
Although China’s steel exports to other countries have ticked upward, the reduced domestic output has tightened overall supply.
For India, this situation provides a dual advantage: reduced risk of Chinese oversupply driving down global prices and stronger support for domestic steel pricing. Analysts note that while China remains the largest steel producer, its moderated production levels post-pandemic are creating space for other markets—including India—to expand their footprint and enhance competitiveness.

Steel Demand Rising Amid Domestic Infrastructure Push
Domestic demand continues to drive India’s steel growth, with the sector expected to expand by 8–10% in 2025, supported by the government’s infrastructure-focused development push.
Key initiatives such as the National Infrastructure Pipeline (NIP), PM Gati Shakti master plan, and affordable housing projects are driving steel-intensive construction activity. Rapid urbanization and the growth of new industrial corridors further reinforce long-term demand.
Additionally, the government’s directive to prioritize the use of ‘Made in India’ steel in public sector projects ensures a steady pipeline of orders for local producers. This policy not only creates assured demand but also aligns with India’s broader self-reliance (Atmanirbhar Bharat) objectives.

Market Dynamics: Pricing and Supply Challenges
Despite strong demand indicators, steel prices in India faced some volatility in mid-2025. Global steel prices weakened due to softer international demand, while the domestic market saw a seasonal slowdown linked to the monsoon period, when construction activity typically dips.
Moreover, Chinese-origin imports, particularly hot-rolled coil (HRC), have become cheaper, creating renewed concerns of a potential surge in inflows. Indian authorities, however, are monitoring the situation closely. The existing safeguard duty, alongside discussions of higher tariffs, is intended to prevent the domestic market from being swamped by underpriced imports.
This delicate balance between ensuring affordable steel for end-users and protecting local manufacturers will remain a defining feature of India’s steel policy in the near term.

Industry Capacity and Future Prospects
By mid-2025, India’s steel production capacity rose to 205 million tons per year, firmly establishing it as the world’s second-largest producer after China.
The government aims to expand this to 300 million tons by 2030, supported by both public and private sector investments.
Challenges remain. India’s steel sector depends heavily on imported coking coal, a key input for production, making it susceptible to price volatility. The industry also faces limitations from inadequate scrap metal availability.
However, the industry is moving forward with modernization drives, digitalization, and green steel initiatives, aligning with global sustainability goals. Investments in hydrogen-based steelmaking and energy-efficient processes are expected to reduce carbon footprints while enhancing competitiveness.

Positive Stock Market Outlook
Equity markets have responded positively to these structural shifts. Shares of leading steelmakers like Tata Steel, JSW Steel, and SAIL have seen renewed interest, with investors factoring in improved pricing power, volume growth, and stronger policy support.
Infrastructure-driven demand is also expected to benefit ancillary sectors such as construction materials, engineering firms, and logistics providers. Together, these linkages create a multiplier effect, positioning the steel sector as a vital driver of India’s broader economic growth.
Analysts suggest that if current policies and demand trends continue, Indian steelmakers are well-placed to deliver robust earnings growth over the next several years, solidifying their global position.

Conclusion
With import duties continuing and China cutting back supply, Indian steelmakers find themselves in a uniquely advantageous position. Domestic demand, bolstered by massive infrastructure spending and government support for local production, is providing a solid growth foundation.
Although challenges such as input costs and potential import competition remain, the sector’s trajectory appears strong. As India works toward its 2030 steel capacity goals, the combination of protectionist policies, rising demand, and industry modernization suggests that the domestic steel industry is set to remain a key pillar of the country’s industrial growth story.

 

 

 

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IPO Watch: Vikran Engineering, Anlon Healthcare GMPs Signal Strong Gains

 

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Hindustan Copper and CODELCO Strategic Collaboration to Triple Output by 2030
business update, Market News - July 8, 2025

Hindustan Copper and CODELCO Strategic Collaboration to Triple Output by 2030

Hindustan Copper and CODELCO Strategic Collaboration to Triple Output by 2030

Hindustan Copper Limited (HCL) has launched a transformative partnership with Chile’s CODELCO, the world’s largest copper miner, aiming to boost its annual copper ore production from about 3.5 million tonnes to 12 million tonnes by 2030.

Introduction
India’s rapid economic development is fueling a sharp rise in copper demand, a key metal for infrastructure, electrification, and emerging technologies. Hindustan Copper Limited (HCL), the country’s only vertically integrated copper producer, has responded by embarking on an ambitious expansion plan. Central to this strategy is a landmark collaboration with Chile’s CODELCO, signed in April 2025, which promises to transform HCL’s operational capabilities and production scale.

The CODELCO Partnership: A Catalyst for Growth
Why CODELCO?
CODELCO, with decades of expertise in deep mining and large-scale operations, brings a wealth of technical know-how to the table. The partnership is designed to help HCL overcome historical challenges such as outdated infrastructure, slow production growth, and technical bottlenecks.
Key Features of the Alliance
• Technical Collaboration: CODELCO’s experts are currently in India, conducting site visits, evaluating equipment, and reviewing workflows at HCL’s major mines. Their assessment will guide operational improvements and technology upgrade.
• Knowledge Exchange: HCL’s senior officials are set to visit six to seven of CODELCO’s premier mines in Chile, including Chuquicamata and El Teniente, to learn best practices in underground mining, dilution management, and process optimization.
• Workforce Training: The agreement emphasizes upskilling HCL’s technical teams, adopting international safety standards, and implementing advanced mining methods.
• Future Expansion: While the current focus is on technical cooperation, both companies are open to exploring joint ventures for copper block development in Chile and India.

Malanjkhand: The Heart of Expansion
The Malanjkhand Copper Project in Madhya Pradesh plays a central role in HCL’s long-term growth agenda. Having transitioned from open-cast to underground mining, MCP produced a record 2.73 million tonnes of ore in FY25, surpassing its target despite past project delays. HCL aims to boost MCP’s annual output to 5 million tonnes, with comparable capacity expansions on the horizon for its other mines.

Meeting India’s Copper Needs
Demand Drivers
India’s copper consumption is expected to increase:
• Infrastructure Expansion: Government initiatives in power, transport, and housing.
• Green Energy: Solar, wind, and electric vehicle sectors require significant copper inputs.
• Tech-Driven Demand: Rapid growth in data infrastructure and AI sectors is heavily reliant on copper.
National Vision
The Ministry of Mines has laid out a comprehensive vision for the copper sector, targeting not only higher production but also sustainability, recycling, and global competitiveness. HCL’s expansion is integral to achieving these national goals and reducing import dependency.
Overcoming Challenges
HCL’s journey has not been without hurdles. Past audits highlighted issues like cost overruns and project delays, especially at Malanjkhand. However, the CODELCO partnership is expected to address these gaps by introducing global benchmarks, improving operational efficiency, and mitigating technical risks.

The Road Ahead
Immediate Steps
• CODELCO’s ongoing site visits in India will culminate in a detailed interim report by mid-July 2025, offering actionable recommendations.
• HCL’s executive delegation to Chile will facilitate direct learning and adaptation of advanced mining technologies.
Long-Term Impact
If successful, HCL’s output will triple by 2030, positioning India as a major copper producer in Asia. The collaboration may also pave the way for further international partnerships and joint ventures, enhancing India’s standing in the global mining industry.

Conclusion
The collaboration between Hindustan Copper and CODELCO signals a transformative step for the Indian copper sector. By leveraging world-class expertise and embracing modernization, HCL is poised to meet the nation’s growing copper needs, support its green transition, and contribute to the vision of a developed India by 2047. The coming years will test the partnership’s ability to deliver on its promise, but the foundation for a new era in Indian mining has clearly been laid.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Tata Power Supercharges India’s Green Goals with Bold Investment Drive

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BEML Secures $6.23M Export Orders from Russia, Uzbekistan!
Business, Economy - July 5, 2025

BEML Secures $6.23M Export Orders from Russia, Uzbekistan!

BEML Secures $6.23M Export Orders from Russia, Uzbekistan!

The Indian heavy equipment giant expands its footprint in the resource-rich Russian and CIS regions with fresh orders for robust mining and construction equipment.

Summary:
BEML Limited has secured export orders worth $6.23 million from Russia and Uzbekistan, a move that strengthens its foothold in the challenging but opportunity-rich mining markets of the CIS region. This strategic win underscores BEML’s competitive positioning as a global supplier of durable, high-performance mining machinery.

In a significant boost to India’s engineering and export ambitions, BEML Limited, a leading manufacturer of mining and construction equipment, has secured fresh export orders worth $6.23 million from Russia and Uzbekistan. The orders include the supply of advanced, heavy-duty mining machinery specially designed to withstand the complex and demanding terrains of the Russian Federation and the wider Commonwealth of Independent States (CIS).
The CIS market, comprising resource-rich nations with substantial mineral wealth, has long been a priority for BEML, which specialises in manufacturing equipment for harsh mining environments. The newly secured orders mark a continuation of BEML’s strategy to tap global markets by offering high-quality, cost-effective, and technologically advanced solutions tailored to the needs of large-scale mining operations.
According to industry sources, the orders include a mix of dump trucks, crawler dozers, excavators, and other mining support equipment, which will be deployed in large mineral extraction projects in Russia and Uzbekistan. The company’s equipment is valued for its durability, reliability, and suitability for operations in subzero temperatures and rugged terrains — attributes that are critical for clients in these regions.

Strategic Expansion into Russia and CIS
Russia and Uzbekistan, both endowed with vast reserves of coal, copper, gold, and other strategic minerals, have been actively modernising their mining operations to improve productivity and reduce costs. With these fresh orders, BEML is well-positioned to support this transition while expanding its international customer base.
The CIS mining sector has traditionally depended on equipment from European and North American manufacturers, but geopolitical shifts and changing trade preferences have created opportunities for Indian companies like BEML to step in as reliable partners. This contract, therefore, is not just a commercial achievement but a strategic milestone that could open doors to larger deals in the future.

Building the ‘Make in India’ Brand
BEML’s success in winning these export orders directly supports the Indian government’s “Make in India” initiative, aimed at transforming India into a global manufacturing hub. Through the export of advanced, domestically produced mining equipment, BEML is highlighting India’s engineering capabilities globally, while also generating foreign exchange revenue and contributing to job creation within the country.
The company has consistently invested in modernising its manufacturing facilities, integrating advanced design, production, and testing capabilities to ensure its products meet the most rigorous international standards. Its R&D divisions have played a pivotal role in adapting machines to unique geographies like Siberia and Central Asia, where extremely low temperatures, rugged conditions, and logistical challenges demand ruggedised, specialised equipment.

A Step Toward Diversification
The orders from Russia and Uzbekistan come at an opportune moment, as BEML seeks to diversify its revenue streams beyond the Indian domestic market, where it primarily serves defence, mining, and metro rail sectors. With global mining recovering from the pandemic shock and commodity prices stabilising, demand for high-quality mining machinery is on the rise.
By securing these orders, BEML is not only mitigating risk from over-dependence on the domestic market but also strengthening its brand recognition internationally. The move will likely enhance its competitiveness when bidding for future projects across Central Asia, Africa, and Latin America — regions with similar infrastructure and mining needs.

Future Prospects and Roadmap
Going forward, BEML aims to deepen its engagement with customers in Russia and the CIS region by establishing local service centres, joint ventures for spares supply, and partnerships for technical training. This strategy will help build long-term relationships and ensure equipment uptime in remote and challenging mining sites, where after-sales support is often as critical as product quality itself.
Additionally, BEML is exploring opportunities to supply electric and hybrid mining vehicles to these regions, aligning with the global shift toward greener, more sustainable mining practices. Given its experience in developing advanced metro rolling stock and military vehicles, BEML is well-positioned to transfer those green mobility innovations into the mining sector over time.

Industry Response and Outlook
Industry experts have hailed the announcement as a win-win, bolstering India’s export ambitions while helping resource-rich nations modernise their mining fleets with affordable, world-class machinery. With geopolitical uncertainties disrupting traditional supply chains, countries like Russia and Uzbekistan appear increasingly interested in diversifying their supplier base — a change that may be advantageous for Indian engineering companies prepared to adhere to their quality and performance standards.
BEML’s current order book, coupled with this new $6.23 million export deal, underscores its resilience and adaptability in a rapidly evolving global business environment. By leveraging its manufacturing strengths, technical expertise, and long-standing experience in the mining sector, BEML is well-positioned to consolidate its position as a trusted global partner for sustainable and efficient mining solutions.
As global mining continues to grow in scale and complexity, BEML’s proven ability to deliver reliable, cost-effective, and locally adapted solutions will be a vital differentiator in maintaining its competitive advantage worldwide. This latest success is likely just one step in a larger journey of transformation, innovation, and global collaboration for one of India’s engineering champions.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Strategic Investment Fuels Deccan Gold Mines’ Kyrgyzstan Gold Project

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Peerless Group to Exit Insurance Distribution and Double-Down on Hospitals
business update, Market News, Real Estate - July 4, 2025

TCS Allocates ₹4,500 Crore for Realty Expansion!

TCS Allocates ₹4,500 Crore for Realty Expansion!

TCS Allocates ₹4,500 Crore for Realty Expansion!

Tata Consultancy Services, India’s biggest IT services company, is set to invest more than ₹4,500 crore to expand its real estate presence in key cities across the country. This move highlights the firm’s confidence in India’s workforce, its digital future, and overall economic stability.

Summary:
Tata Consultancy Services (TCS) plans to invest over ₹4,500 crore to broaden its infrastructure presence throughout India. This initiative involves the creation of new campuses and contemporary office spaces in cities such as Bengaluru, Kolkata, and Kochi. This strategic initiative is aimed at accommodating the company’s growing workforce and reinforcing its long-term commitment to India as a global IT hub. The massive investment also signals strong business optimism following the company’s consistent financial performance and future-ready digital transformation agenda.

In a decisive and strategic effort to strengthen its long-term position in India, Tata Consultancy Services (TCS), the largest IT services exporter in the country, is initiating a real estate expansion initiative valued at over ₹4,500 crore. The plan includes the development of new campuses and enhancement of existing facilities in Bengaluru, Kolkata, Kochi, and several other tech hubs.
This large-scale infrastructure push aligns with TCS’s vision to support its expanding workforce, meet future delivery demands, and sustain long-term growth amid the increasing global focus on digital transformation. TCS’s continued investments in physical infrastructure underscore its confidence in India’s IT talent base, robust delivery capability, and the hybrid work culture emerging post-pandemic.

Cities Leading TCS’s Expansion Efforts
TCS’s infrastructure expansion will be spread across key Indian cities that are already established or emerging as IT powerhouses:
Bengaluru: Known as the Silicon Valley of India, Bengaluru will receive a significant share of the investment. TCS plans to develop a sprawling new campus to accommodate thousands of tech professionals, complementing its existing offices in Whitefield and Electronic City.
Kolkata: TCS is enhancing its footprint in the city by expanding its campus in New Town, Rajarhat. This location is crucial for the company’s operations in the eastern region and is anticipated to evolve into an essential centre for upcoming projects, particularly in digital and cloud technologies.
Kochi: In Kerala’s tech capital, TCS is investing in a larger, state-of-the-art delivery centre. The company is betting on the growing tech ecosystem in southern India, where it can tap into a steady stream of highly skilled graduates.
Other cities like Pune, Hyderabad, Bhubaneswar, and Chennai may also see enhancements as TCS aims to make its facilities more modern, collaborative, and future-ready.

A Vision Aligned with Headcount Growth and Digital Demand
TCS has more than 600,000 employees, positioning it as one of the largest private-sector employers globally. This realty expansion is a proactive step to accommodate future talent inflows, particularly as the company doubles down on digital, AI, cloud, and cybersecurity services.
In recent quarters, TCS has seen steady deal wins, healthy margins, and a positive revenue outlook—factors that are further fueling the need for scaled-up delivery capacity. Industry insiders suggest the expansion also reflects a strategic realignment toward Tier-2 and Tier-3 cities, allowing TCS to tap into untapped talent pools while maintaining cost efficiency.
Speaking about the investment, a TCS executive commented, “This infrastructure development is not just about creating office space—it’s about enabling smarter, greener, and more agile workplaces that are aligned with the needs of the next-gen workforce.”

Post-Pandemic Workspace Transformation
TCS has embraced a hybrid working model under its “25×25 vision,” which aims to have no more than 25% of its employees working from office premises at any given point in time by 2025. However, this doesn’t translate into reducing office space but rather repurposing it for collaboration, innovation, and learning.
The new facilities being developed as part of this ₹4,500 crore investment will focus on:
Energy efficiency and sustainability
Flexible workspaces for hybrid models
Advanced digital infrastructure for seamless connectivity
On-campus amenities like skilling centres, recreation zones, and R&D labs
This move is in sync with TCS’s belief that physical infrastructure still plays a critical role in fostering employee engagement, onboarding new hires, and building strong team dynamics.

Strategic Significance and Industry Implications
This expansion is a strong signal of stability and growth at a time when global tech giants are being more cautious in real estate investments. It also sends a message to international clients that India remains a resilient and scalable delivery centre for digital transformation projects.
Moreover, TCS’s investment could trigger a positive domino effect in India’s real estate and construction sectors, especially in the commercial segment. With increasing demand from large IT firms, developers are expected to fast-track infrastructure projects, potentially generating employment and regional development.
In the context of India’s ambitions to become a global digital powerhouse, TCS’s infrastructure strategy aligns well with the government’s focus on Digital India, Make in India, and skill development. It reaffirms India’s role not just as a service provider but also as a strategic innovation partner to global enterprises.

Conclusion: Building the Future of Work
TCS’s ₹4,500 crore realty expansion plan marks a significant milestone in the evolution of Indian IT infrastructure. At a time when remote work is prevalent, TCS is taking a balanced approach by investing in intelligent, flexible, and sustainable workplaces that enhance both employee experience and business efficiency.
As digital transformation accelerates globally, TCS is positioning itself for the long haul—with a more substantial footprint, sharper delivery capability, and deep-rooted confidence in India’s talent ecosystem.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Aditya Birla Group: Billion-Dollar Fashion Ambition!

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Genus Power Aims for 1.5M Smart Meters Monthly!
Equities, Markets - July 2, 2025

Genus Power Aims for 1.5M Smart Meters Monthly!

Genus Power Aims for 1.5M Smart Meters Monthly!

Riding the wave of India’s energy digitization, Genus Power Infrastructures expands its manufacturing capacity and targets significant global growth across strategic markets.

Summary:
Genus Power Infrastructures Ltd. has significantly ramped up its smart meter production capacity to 1.5 million units per month, reinforcing its position as a leader in India’s smart metering mission. The company is currently generating ₹90-95 crore annually through exports and has set its sights on achieving ₹500 crore in exports over the next 3 to 5 years. With a focus on four to five strategic international markets and rising domestic demand driven by India’s power sector modernization, Genus is well-positioned to play a central role in the global smart energy transformation.

As India accelerates its shift toward smarter, digitized energy infrastructure, Genus Power Infrastructures Ltd., one of the country’s foremost innovative metering companies, has scaled up its monthly smart meter production to a staggering 1.5 million units. This expansion aligns with both the Government of India’s ambitious nationwide smart metering rollout and the company’s own international aspirations.
The significant increase in production capacity comes as Genus Power doubles down on its commitment to transforming energy distribution efficiency—both domestically and globally—through cutting-edge smart meter technology.

Meeting India’s Energy Vision: A Domestic Surge
India’s energy landscape is undergoing a radical transformation under the Revamped Distribution Sector Scheme (RDSS) and the National Smart Metering Mission (NSMM). With a goal to replace 25 crore conventional meters with smart meters by 2025-26, the country offers fertile ground for companies like Genus Power.
Genus is already a significant beneficiary of large-scale smart metering tenders issued by government-owned energy distribution companies (DISCOMs) and energy service companies (ESCOs) across India. The increase in production capacity is aimed at fulfilling the massive demand pipeline, particularly from key states such as Uttar Pradesh, Bihar, Rajasthan, Madhya Pradesh, and Gujarat.
The smart meters produced by Genus offer real-time monitoring, remote disconnection/reconnection, tamper alerts, and seamless data transmission—key functionalities that aid in reducing Aggregate Technical and Commercial (AT&C) losses, improving billing efficiency, and enhancing energy access.
According to Jitendra Kumar Agarwal, Joint Managing Director of Genus Power, “We are proud to contribute to the nation’s energy transformation goals. Our scale-up to 1.5 million meters per month reflects the rising demand for high-quality, reliable smart metering solutions.”

A Global Vision: From ₹95 Crore to ₹500 Crore in Exports
While the domestic market remains a high priority, Genus is increasingly looking outward to international markets to tap into the global smart meter demand, which is projected to grow rapidly amid rising energy costs, grid modernization efforts, and carbon neutrality goals.
Currently, Genus Power is clocking ₹90-95 crore annually in export revenues, serving a diverse set of clients across Asia, Africa, the Middle East, and Latin America. However, the company has now set a target of ₹500 crore in exports over the next 3 to 5 years, a nearly five-fold jump, signalling its aggressive push into global markets.
“We are focusing on four to five strategic markets where utility reforms and smart grid initiatives are gaining traction,” Agarwal confirmed. The identified regions are expected to witness a surge in demand for smart grid infrastructure driven by population growth, electrification, and digital transformation policies.

Export Strategy: Local Partnerships and Tech Differentiation
To achieve its ambitious export target, Genus Power is deploying a multipronged strategy that includes:
Collaboration with local utility companies and energy organizations
Customized metering solutions that comply with country-specific regulatory norms
On-ground support and after-sales service infrastructure
Digital solutions for instantaneous monitoring, invoicing, and grid analysis
Genus also stands out for its in-house R&D capabilities, with over 200 patents filed and a robust product innovation pipeline, ensuring it remains ahead of technological curves and evolving international standards.

The Smart Metering Boom: A Global Opportunity
Globally, the smart meter market is projected to surpass $30 billion by 2030, according to various industry reports. This growth is driven by rising urbanization, need for energy conservation, transition to renewable power, and regulatory mandates.
In regions such as Southeast Asia, Sub-Saharan Africa, and Latin America, where grid losses and power theft remain significant challenges, smart meters are emerging as a key solution for improving financial health of utilities.
Genus Power’s export ambitions are well-timed to leverage this once-in-a-generation market shift, where technological leadership, operational scale, and cost-efficiency will define winners.

Backed by Financial and Policy Tailwinds
Genus Power has also been in the spotlight for its role in India’s smart metering rollout under public-private partnership models. It has been a successful participant in recent tenders issued under Advanced Metering Infrastructure (AMI) projects, many of which are being structured on a BOOT (Build, Own, Operate, Transfer) basis.
These projects are also backed by financial institutions such as REC (Rural Electrification Corporation) and PFC (Power Finance Corporation), giving Genus significant financial flexibility and execution confidence.
Moreover, the Government of India’s push for Make in India, along with PLI schemes (Production-Linked Incentives) for electronics manufacturing, adds another layer of support to Genus’s domestic and export-driven manufacturing plans.

Conclusion: A Metered Approach to Global Leadership
With its upgraded production capacity, Genus Power is not only meeting India’s urgent infrastructure demands but also setting the stage for global leadership in innovative metering technology. As the world moves toward cleaner, more accountable energy systems, companies like Genus will play a pivotal role in powering this transition through digital innovation, scale, and sustainability.
With solid fundamentals, a proactive leadership team, and a well-defined global strategy, Genus Power is ready to become a significant contender in the worldwide energy technology sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Hindalco to Acquire US-Based AluChem for $125 Million to Strengthen Specialty Alumina Portfolio

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Defence Stocks Retreat After Two-Day Rally Amid Israel-Iran Ceasefire

Defence Stocks Retreat After Two-Day Rally Amid Israel-Iran Ceasefire

After witnessing a robust rally over the past two trading sessions, Indian defence sector stocks reversed course on June 24, 2025, as global tensions eased following the ceasefire agreement between Israel and Iran. The market’s reaction was immediate and widespread, with leading defence companies experiencing a notable decline in share prices. This correction came as investors chose to book profits amid reduced geopolitical risk, especially after recent gains driven by conflict-related speculation.

Market Overview: Broad Sell-Off in Defence Stocks

Several prominent defence firms saw their share prices fall by over 2% during the trading session, with some companies losing up to 6–7% in value. BEML Ltd and Garden Reach Shipbuilders & Engineers (GRSE) were among the biggest losers on the day, with BEML dropping approximately 6.4% and GRSE slipping between 5% to 7%.

The sell-off wasn’t limited to just a few names. Other major players, including Hindustan Aeronautics Ltd (HAL), Bharat Dynamics Ltd (BDL), Bharat Electronics Ltd (BEL), Paras Defence & Space Technologies, IdeaForge Technology, and Cochin Shipyard, also witnessed intraday declines ranging between 2% and 6%.

By the end of the trading session, the Nifty India Defence Index had declined more than 2.2%, indicating widespread softness in defence stocks.

Ceasefire Triggers Risk Sentiment Shift

The trigger for this sudden reversal in defence stocks was the official announcement of a ceasefire between Israel and Iran, bringing an end to weeks of military escalation in the Middle East. Global equity markets reacted positively to the news, shifting investor sentiment away from defence and toward safer and more stable sectors.

During the conflict period, investors had rushed to buy defence stocks, anticipating that global tensions would lead to increased defence spending and stronger order books for Indian defence suppliers. However, with the conflict de-escalating, the speculative risk premium that was priced into these stocks quickly eroded.

Analyst Perspective: Healthy Correction or Start of Repricing?

Market experts view the decline as a healthy correction following an overheated rally. According to Vishnu Kant Upadhyay of Master Capital Services, the sell-off is likely a short-term reaction to geopolitical developments and not indicative of weakening fundamentals. He stated, “This pullback is natural after such a sharp rise. However, the long-term structural story for India’s defence sector remains intact.”

Indeed, many analysts agree that despite the temporary weakness, the Indian government’s continued emphasis on indigenization, export growth, and Make in India initiatives will continue to drive long-term value in defence manufacturing and related sectors.

Fundamentals Remain Strong Despite Short-Term Pressure
Over the last few years, India has significantly boosted its defence budget and strengthened policies to support domestic manufacturing. In FY25, the country allocated over ₹6 lakh crore for defence spending, with increasing emphasis on procurement from domestic companies.

Moreover, India’s defence exports have been growing steadily. The government has set a target to achieve ₹25,000 crore in defence exports by FY26, encouraging companies to expand their production and improve competitiveness globally.

Companies like HAL, BEL, and Cochin Shipyard have benefited from consistent orders from the Indian Armed Forces, and firms like IdeaForge have found demand in cutting-edge technologies like drones and unmanned aerial systems, making them attractive for long-term investors.

Short-Term Volatility Offers Entry Opportunities

For retail and institutional investors, the correction could offer a good opportunity to accumulate quality defence stocks at lower valuations. While the ceasefire has removed immediate catalysts for rapid price movement, the sector continues to enjoy robust order books, healthy margins, and strong policy support.

Technical analysts also point out that despite the decline, many defence stocks continue to trade above key support levels, indicating that the long-term trend remains bullish.

Investors with a long-term horizon may consider this a consolidation phase rather than a reversal, particularly given the consistent push by the Indian government to reduce defence imports and develop indigenous capabilities.

Global Sentiment Also Shifts

International markets mirrored the sentiment seen in India. U.S. equity indices rallied on news of the truce, with defence-related stocks underperforming while broader sectors such as technology and financials gained. This global shift away from “conflict-driven” trades has been echoed in the Indian markets as well.

With geopolitical risk temporarily off the table, global funds are rebalancing their portfolios, leading to profit booking in sectors that benefited from conflict-driven speculation.

Conclusion

Indian defence stocks pulled back on June 24, reflecting a notable change in investor sentiment after the ceasefire between Israel and Iran. While the immediate driver of the recent rally has subsided, long-term fundamentals for India’s defence sector remain robust. This correction, though sharp, is seen more as a breather than a breakdown. For investors with a strategic view, the dip may present a chance to re-enter quality defence names at more reasonable valuations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Paper Arizona Prepares for IPO in 2026 as Revenues Cross ₹100 Crore

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Reliance Infra Soars on Jet Manufacturing Pact With Dassault Aviation

Reliance Infra Soars on Jet Manufacturing Pact With Dassault Aviation

Reliance Infra’s shares surge as it joins hands with Dassault Aviation to build Falcon 2000 jets in Nagpur, marking a major boost to India’s aerospace sector.

Stock Soars on Major Aerospace Deal

On Wednesday, Reliance Infrastructure’s share price climbed 5%, locking in at its upper circuit limit of ₹386 on the BSE trading platform. The rally was triggered by news of a landmark partnership between a Reliance subsidiary and French aerospace heavyweight Dassault Aviation, signaling a strategic leap for India’s defence and aviation ecosystem.

India Set to Host First-Ever Assembly Line for Falcon 2000 Business Jets

In a first-of-its-kind move, Reliance Aerostructure Limited has entered into a joint venture with Dassault Aviation to assemble Falcon 2000 business jets in India. This marks the first time Dassault will produce these jets outside its home country of France.

The assembly line will be established in Nagpur and operated through Dassault Reliance Aerospace Limited (DRAL). India’s inaugural fully assembled Falcon 2000 jet is slated for launch by 2028, aiming to serve both corporate aviation needs and defense applications.

This initiative represents a significant milestone for India’s ambitions to become a global hub in aerospace manufacturing and aligns with the country’s “Make in India” vision.

Nagpur to Become a Global Hub for Jet Components

The upcoming production facility in Nagpur is projected to emerge as a center of excellence for the Falcon jet series. The scope of work extends beyond simple assembly—it includes the local manufacturing of critical aircraft components such as fuselages, wings, and other structural elements.

In addition to the Falcon 2000, the facility will also be involved in structural work for other Dassault jets, including the Falcon 6X and Falcon 8X models. Dassault Aviation will oversee significant infrastructure enhancements at the site to support this expanded production capability.

This strategic location not only accelerates India’s participation in the global aerospace supply chain but also boosts regional industrial development.

Employment Boost and Local Skill Development

Established in 2017, DRAL has successfully manufactured and supplied over 100 subcomponents for the Falcon 2000 aircraft series to date. The new agreement is expected to create long-term job opportunities, especially for skilled engineers, technicians, and support staff over the next decade.

This initiative is likely to stimulate technical upskilling in the region and foster innovation through exposure to world-class aerospace manufacturing standards.

The long-term employment potential of this project reinforces its value not only to the private sector but also to broader socio-economic development goals.

Capital Infusion to Support Strategic Expansion

Alongside this landmark partnership, Reliance Infrastructure has also successfully completed a significant financial move. The company allotted 1.25 crore equity shares at ₹240 per share, converting existing warrants into stock and raising a total of ₹300 crore.

The proceeds from this capital infusion will be channeled towards advancing the company’s long-term strategic goals, including strengthening its presence in high-growth industries like aerospace, infrastructure, and defence manufacturing.

This funding also bolsters the company’s ability to support future expansions and meet the demands of large-scale, technologically intensive projects.

Final Thoughts

The joint venture between Reliance Aerostructure and Dassault Aviation is a transformative step for India’s aerospace ambitions. By bringing Falcon 2000 jet assembly to Nagpur, the partnership is set to elevate India’s manufacturing capabilities on a global stage.

With the facility set to handle key structural components and potentially evolve into a center of excellence, this collaboration stands to enhance local employment, drive skill development, and attract further investment in the sector.

This initiative also resonates with India’s overarching goal of achieving technological self-sufficiency and strengthening its footprint in the international aerospace arena. For Reliance Infrastructure, this milestone—combined with a fresh ₹300 crore equity infusion—positions the company for sustained growth in defence and aerospace ventures.
Investors and industry observers alike will be watching closely as this high-profile collaboration unfolds in the coming years.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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US Airstrike on Iran: Oil Shock for India

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Shivalic Power Control Ltd Secures Major Domestic Orders, Reinforcing Industry Leadership

Shivalic Power Control Ltd Secures Major Domestic Orders, Reinforcing Industry Leadership

Recent contracts worth over Rs 1 crore and a string of high-value deals underscore Shivalic Power Control’s dominance in India’s electrical panel manufacturing sector.

Introduction
Shivalic Power Control Ltd, a leading manufacturer of electrical panels, has clinched new domestic orders totaling Rs 1,06,00,000 from electrical contractors. This win, alongside a series of recent high-value contracts, highlights the company’s robust growth, technological prowess, and expanding market presence in India’s rapidly evolving power infrastructure sector.

Shivalic Power Control: A Snapshot of Excellence
Founded in 2004, Shivalic Power Control Ltd (SPCL) has grown into one of India’s most trusted names in electrical panel manufacturing. The company’s diverse product portfolio includes Power Control Center (PCC) panels, Intelligent Motor Control Center (IMCC) panels, Smart panels, Motor Control Center (MCC) panels, DG Synchronization panels, high-tension (HT) panels up to 33kV, variable frequency drive (VFD) panels, and power distribution boards, among others.
SPCL’s state-of-the-art manufacturing facility in Ballabgarh, Haryana, spans 1.25 lakh square feet and is equipped to produce 10,000 verticals annually. The company’s dedication to quality, innovation, and safety is evident through its ISO certifications and compliance with global standards like IEC 61439-1&2.

Recent Order Wins: A Testament to Market Trust
Rs 1.06 Crore Order from Electrical Contractors
In June 2025, Shivalic Power Control Ltd announced a significant domestic order valued at Rs 1,06,00,000. The contract covers a range of electrical panels, including HT switchboards, MCCB boxes, and various customized solutions, with execution scheduled for completion within the next few months.
Other Major Contracts in 2025
• Rs 2.31 Crore LT Panel Orders:
In April 2025, SPCL secured two separate contracts for low-tension (LT) panels from CBG and Mahagun, valued at Rs 1.52 crore and Rs 79 lakh, respectively. Both projects are slated for completion by July 2025, further strengthening the company’s order book.
• Rs 3 Cr deal happened with the GMT Industries:
In March 2025, Shivalic got a ₹3 crore contract from GMT Industries Limited for the provision of LT panels. This project, scheduled for completion by May 2025, is a major boost to the company’s growth trajectory and market reputation.
• Rs 49.95 Lakh Order from Vayu:
At the close of 2024, SPCL secured a Rs 49.95 lakh order from Vayu, a domestic client, with project completion targeted for March 2025.
• Rs 6.2 Million Order from Solid Properties:
In January 2025, the company was awarded a Rs 62 lakh order from Solid Properties Pvt Ltd for LT panels, with execution set for mid-April 2025.
• Rs 3.5 Million Contract Secured from Victora Auto
Also in January, SPCL won a Rs 35 lakh LT panel contract from Victora Auto Pvt Ltd, demonstrating its appeal across diverse industrial sectors.

Product Range and Technological Edge
Shivalic Power Control’s product suite is tailored to meet the needs of over 15 industrial sectors in India and abroad, including Nepal, Bangladesh, and several African nations. The company is renowned for:
• Custom Solutions:
Offering panels for automatic power factor correction, firefighting, VFD/AC drives, and more.
• Technical Partnerships:
Collaborating with top industry players like L&T, Schneider Electric, Siemens, and TDK to provide fully certified type-tested panels.
• Manufacturing Excellence:
Its facility is designed for seismic resistance and internal arc testing, ensuring maximum safety and reliability.

Financial Performance and Market Impact
SPCL’s robust order inflow has translated into strong financial results. For the fiscal year ending March 2024, the company reported a 55.5% jump in consolidated net profit to Rs 11.21 crore, alongside a 24.4% increase in revenue to Rs 102.18 crore over the previous year. The company’s shares have shown a positive trend, indicating strong investor confidence in its future growth potential.
Notably, the company maintains transparency in its transactions, with recent contracts not involving related parties or promoter interests, reinforcing its credibility in the market.

Industry Outlook and Strategic Positioning
The Indian electrical infrastructure sector is witnessing rapid expansion, driven by urbanization, industrial growth, and government initiatives in power and smart grid projects. Shivalic Power Control’s consistent order wins, technological partnerships, and focus on quality position it as a preferred supplier for both public and private sector projects.
SPCL’s ability to secure repeat business from major clients and its push into high-growth markets like HT panels (which contributed 94% of FY24 revenue) signal a bright outlook for the company.

Conclusion
Shivalic Power Control Ltd’s recent ₹1.06 crore order, along with a series of substantial contracts in 2025, highlights its strong position in India’s electrical panel manufacturing sector. With a strong product portfolio, cutting-edge manufacturing, and a growing client base, SPCL is well-placed to capitalize on the nation’s infrastructure boom. As the company continues to deliver on large-scale projects and expand its technological capabilities, it stands out as a beacon of reliability and growth in the sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Tel Aviv Stock Exchange Soars as U.S. Enters Israel-Iran Conflict

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