Refex Industries, GE Vernova T&D India and Power Grid to see some action today

05 Mar 2025 Evaluate

In a significant step towards accelerating sustainable urban mobility, Refex Green Mobility (Refex eVeelz), a wholly owned subsidiary of Refex Industries, has entered into an agreement with one of India’s largest ride-hailing platforms to induct and operate 1,000 electric four-wheelers (e4Ws) across Chennai, Hyderabad, Bengaluru, and Mumbai in FY26. This expansion is a part of the company’s strategic growth roadmap and reinforces its commitment to India’s clean mobility transition.

GE Vernova T&D India has received an order from Power Grid Corporation of India for Bulk Procurement of 765kV Class Transformers & Reactors of various capacities. Three orders totaling to approximately Rs 500 crore. The said orders to be executed within 36 months.

Power Grid Corporation of India has been declared as successful bidder under Tariff Based Competitive Bidding for the following three projects to establish Inter-State Transmission System under Build, Own Operate and Transfer (BOOT) basis. The project comprises establishment of new 765 / 400 / 220kV Kurnool IV Pooling Sub-Station and augmentation of transformation capacity at existing C’peta Substation in the State of Andhra Pradesh. The project also comprises 765kV and 400kV D/C Transmission Lines traversing in the States of Andhra Pradesh and Karnataka.

JSW Energy has raised Rs 1200 crore through the allotment of 1,20,000 unsecured, rated, listed, taxable, redeemable Non-Convertible Debentures (NCDs) of Rs 1,00,000 on a private placement basis. The Finance Committee of the company, at its meeting held on March 4, 2025, approved the allotment of the same.

Race Eco Chain has invested Rs 95 lakh in the Equity Shares of Vasundhara Envirogreen. The company has been allotted 9,50,000 equity shares (i.e) 95% Equity stake at a price of Rs 10, aggregating to Rs 95 lakh. Further, pursuant to the said Investment, Vasundhara Envirogreen become a Subsidiary of the company.

Marsons has received an order worth around Rs 9.49 crore (exclusive of taxes) from Inox Wind to supply 160 MVA 220 kV class EHV Power Transformer. The order is to be executed by July 30, 2025.

ABB India’s group company -- ABB Motion has made a strategic investment in AI start-up UptimeAI through ABB Motion Ventures, aiming to transform how industrial customers manage the health and performance of motors, drives, and related assets. The transaction consists of ABB taking a minority stake in UptimeAI. The collaboration leverages machine learning and expert systems to provide customers with deep insights into asset performance, failure predictability, and reduction of maintenance costs and risks.

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