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ICICI Securities’ Net Profit Jumps Two-Fold in Q4 – Top Indian Market News

ICICI Securities Q4 Results: Net profit jumps two-fold to Rs 329 crore

ICICI Securities Limited reported over a two-fold year-on-year (YoY) increase in net profit to Rs 329 crore for the quarter ended March (Q4). Its revenue jumped 53% YoY to Rs 739 crore during the same period. The revenue growth was supported by a strong performance of equities and allied operations. The company’s private wealth management and investment banking businesses also showed significant growth. ICICI Securities has declared a final dividend of Rs 13.5 per share.

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Hero MotoCorp partners with Gogoro with focus on electric mobility

Hero MotoCorp Limited has announced a strategic partnership with Taiwan-based Gogoro Inc. to accelerate the shift to electric mobility in India. The companies will establish a battery swapping joint venture (JV) to bring Gogoro’s industry-leading battery swapping platform to India. The partnership will also focus on electric vehicle (EV) development to launch Hero-branded, powered by Gogoro network vehicles to the market.

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KEC International secures orders worth Rs 1,245 crore

KEC International Limited has secured new orders worth Rs 1,245 crore across various business segments. Its transmission & distribution business has secured orders worth Rs 629 crore in India, Middle East, Africa, and the Americas. The company’s railways business has secured orders worth Rs 446 crore, and civil business has won orders of Rs 107 crore for infrastructure works in the defence and industrial segments in India. With these orders, the total order inflow for FY 2020-21 stands at Rs 11,876 crore.

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Phillips Carbon Black Q4 Results: Net profit rises 75% YoY to Rs 128 crore

Phillips Carbon Black Limited reported a 75.55% YoY increase in consolidated net profit to Rs 127.73 crore for the quarter ended March (Q4). Its revenue rose 23.75% YoY to Rs 866.73 crore during the same period. The company’s carbon black segment posted a 24.77% YoY increase in revenue to Rs 848.28 crore. Kolkata-based Phillips Carbon Black is the largest carbon black manufacturer in India. [Carbon black is used as a reinforcing agent in tires. It is also used for printing and as a coating for electric wires]

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Merger of TV18 Broadcast, Hathway Cable, Den Networks with Network18 Media cancelled

Den Networks Limited said it has decided not to proceed with the composite scheme of arrangement in which TV18 Broadcast, Hathway Cable & Datacom, and Den Networks were to merge into Network18 Media & Investments. The company said the shareholders are aware that the scheme was filed with both NSE and BSE for their no-objection letter. On February 17, 2020, Reliance Industries Ltd (RIL) had announced the consolidation of its all media and distribution businesses under one umbrella brand ‘Network18’.

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Tejas Networks Q4 Results: Net profit at Rs 33 crore

Tejas Networks Limited reported a net profit of Rs 33.55 crore for the quarter ended March (Q4). It had posted a net loss of Rs 126.53 crore in the corresponding period last year. Revenue from operations rose over 269% YoY to Rs 201.55 crore in Q4 FY21. The company posted a 35% YoY increase in total revenue to Rs 526.60 crore and a net profit of Rs 37.54 (against a net loss of Rs 237.12 crore) for the financial year ended March 31, 2021. 

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Indiabulls Housing Finance enters into co-lending partnership with HDFC

Indiabulls Housing Finance Limited (IHFL) has entered into a strategic co-lending partnership with HDFC Limited to offer housing loans to homebuyers at competitive rates. IHFL will originate retail home loans as per jointly drawn-up credit policy and retain 20% of the loan in its books, and 80% will be on HDFC’s books. IHFL will service the loan account throughout the life cycle of the loan. Technology-led co-lending will help IHFL to offer a convenient and seamless experience to its customers. It will also help the company to expand its presence in Tier-3 and Tier-4 cities in India.

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5Paisa Capital Q4 Results: Net profit at Rs 6.21 crore

5Paisa Capital Limited reported a consolidated net profit of Rs 6.21 crore for the quarter ended March (Q4). The company had posted a net loss of Rs 1.76 crore in the corresponding period last year. Total revenue from operations rose 41% year-on-year (YoY) to Rs 49.9 crore in Q4 FY21. 5 onboarded more than 2 lakh new clients during the quarter, taking the total number of registered clients to 13.5 lakh.

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Tata Steel, HSBC execute a blockchain-enabled paperless trade transaction

Tata Steel Limited and HSBC (an investment banking company) have executed a blockchain-enabled, paperless trade transaction of export of steel by Tata Steel (India) to UAE-based Universal Tube & Plastic Industries. The end-to-end paperless trade transaction was done through a collaboration pivoted by Tata Steel across the spectrum over the Contour and essDOCS platforms. This transaction validates the commercial and operational viability of blockchain as an alternative to conventional exchanges for paper-based documentation.

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Vaccine updates: States to get Covishield vaccine at Rs 400; Covaxin shows 78% efficacy in Phase-3 interim analysis 

The Serum Institute of India (SII) announced that state governments will get the Covishield vaccine at Rs 400 a dose and private hospitals at Rs 600. The price for the central government stays at Rs 150 per dose. SII will address the limited capacity of scaling up vaccine production within the next two months. According to a PTI report, Covishield comprises more than 90% of the 12.76 crore Covid-19 vaccines administered in India so far.

Bharat Biotech said its Covid-19 vaccine, Covaxin, demonstrated overall interim clinical efficacy of 78% in Phase-3 trials. The efficacy against severe Covid-19 disease was 100%. The Hyderabad-based biotechnology company has announced plans to produce up to 3 crore vaccines next month.

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Bharti Airtel Reports Net Profit of Rs 854 crore in Q3 – Top Indian Market News

Bharti Airtel Q3 Results: Net profit at Rs 854 crore

Bharti Airtel reported a consolidated net profit of Rs 853.6 crore for the quarter ended December (Q3). It has posted a net loss of Rs 763.2 crore in the corresponding quarter last year. The telecom operator’s revenue grew 6% quarter-on-quarter (QoQ) to Rs 26,517 crore in Q3 FY21. Bharti Airtel’s average revenue per user (ARPU) stood at Rs 166 crore in Q3, compared to Rs 162 in Q2 FY21. The company added 1.2 crore 4G subscribers during the quarter to take its tally to 16.2 crore subscribers.

Bharti Airtel said it will raise up to Rs 7,500 crore through debt instruments such as debentures and bonds in one or more tranches. The fundraising has been announced as the telecom sector prepares for the upcoming spectrum auction in March and the rollout of 5G wireless service later this year.

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Govt formally seals Rs 48,000 crore deal to procure 83 Tejas jets from HAL

The Defence Ministry has awarded a Rs 48,000 crore contract to Hindustan Aeronautics Limited (HAL) to supply 83 LCA (light combat aircraft) Mk-1A jets to the Indian Air Force. The first Mk-1A aircraft will be delivered to the air force in three years, and the rest will be supplied by 2030. The deal for the 83 Mk-1A jets will take the total number of Tejas variants ordered to 123. Tejas (which is manufactured by HAL) is a single-engine and highly agile multi-role supersonic fighter aircraft capable of operating in high-threat air environments. 

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Jubilant FoodWorks Q3 Results: Net profit rises 22% YoY to Rs 123 crore

Jubilant FoodWorks Ltd reported a 21.71% YoY increase in consolidated net profit to Rs 123.91 crore for the quarter ended December (Q3). Its revenue from operations declined by 0.19% YoY to Rs 1,069 crore during the same period. The company stated that it has seen complete revenue recovery and strong improvement in margins. Jubilant FoodWorks expanded its network by opening 57 stores in Q3. 

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Hero MotoCorp sets up separate vertical for Harley Davidson distribution

Hero Motocrop Ltd on Wednesday announced that it will set up a separate vertical to drive its new business of Harley-Davidson products and merchandise distribution. The two-wheeler manufacturer has on-boarded 11 existing Harley-Davidson dealers in key geographies across the country. The company commenced wholesale dispatches of Harley products to the dealers on January 18. 

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Ramco Cements Q3 Results: Net profit at Rs 201 crore

Ramco Cements Ltd reported a standalone net profit of Rs 201.35 crore for the quarter ended December (Q3). It had posted a net profit of Rs 94.80 crore in the corresponding quarter last year. Its revenue stood at Rs 202.86 crore in Q3, compared with Rs 95.57 crore during the corresponding quarter last year (Q3 FY20). The company’s cement sales volume for the October-December quarter slipped to 26.14 lakh tonne, as against 28.44 lakh tonne in Q3 FY20.

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Maruti Suzuki partners with ALD Automotive India for subscription program

Maruti Suzuki India Ltd has partnered with ALD Automotive India for its subscription program for individual customers. ALD Automotive is the leasing and fleet management business line of Paris-based Société Générale Group. Maruti Suzuki has also expanded its subscription programme to customers in Kochi. Customers can pay an all-inclusive monthly subscription charge starting at Rs 12,513 for WagonR and Rs 13,324 for Ignis in Kochi (including taxes) for a tenure of 48 months. 

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Adani Enterprises Q3 Results: Net profit declines 10% YoY to Rs 343 crore

Adani Enterprises Ltd reported a 10.39% YoY decline in consolidated net profit to Rs 343.17 crore for the quarter ended December (Q3). Its consolidated revenue rose 6% YoY to Rs 11,788 crore during the same period. Mining and solar manufacturing revenues were up 13% and 29%, respectively, in Q3.

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SEBI bars Future Group CEO Kishore Biyani from securities market for 1 year

The Securities and Exchange Board of India (SEBI) has barred Future Group CEO Kishore Biyani from accessing the securities market for a period of 1 year in a case pertaining to alleged insider trading between March and April 2017. Biyani has also been barred from buying, selling, or dealing in securities of Future Retail for 2 years. SEBI announced its decision after a probe into the use of unpublished price sensitive information to trade in Future Retail.

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Ujjivan SFB Q3 Results: Net loss at Rs 279 crore

Ujjivan Small Finance Bank reported a net loss of Rs 279 crore for the quarter ended December (Q3). It had posted a net profit of Rs 90 crore in the corresponding quarter last year. The bank’s provisions increased to Rs 584 crore, compared to Rs 31 crore in Q3 FY20. Ujjivan SFB’s gross non-performing assets (NPAs) ratio remained stable at 1%, compared to 0.9% in Q3 FY20.

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Adani Total Gas Q3 Results: Net profit rises 27% YoY to Rs 145 crore

Adani Total Gas Ltd reported a 26.7% YoY increase in net profit to Rs 145.87 crore for the quarter ended December (Q3). Its revenue rose 1.42% YoY to Rs 496 crore during the same period. The company commissioned 17 new CNG stations in Q3, taking the tally to 151 stations. PNG home connections increased to 4.75 lakh, with 10,346 new connections during the October-December quarter.

Adani Total Gas has reached a three-year deal to import liquefied natural gas (LNG) from French major Total’s assets. The gas is being procured by Adani Total Private Ltd for sale in India to the company’s domestic and industrial customers.

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Venky’s Q3 Results: Net profit at Rs 106 crore

Venky’s (India) Ltd reported a net profit of Rs 106.5 crore for the quarter ended December (Q3). It had posted a net loss of Rs 5.86 crore in the corresponding quarter last year. The company’s revenue rose 5.8% YoY to Rs 931.68 crore in Q3 FY21. Venky’s poultry and poultry products segment recorded a growth of over 11% YoY, while its animal health products segment grew by ~10% YoY. 

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HUL’s Q3 Profit Jumps 19% YoY to Rs 1,921 crore – Top Indian Market News

HUL Q3 Results: Net profit rises 19% YoY to Rs 1,921 crore

Hindustan Unilever Ltd (HUL) reported an 18.8% YoY increase in net profit to Rs 1,921 crore for the quarter ended December (Q3). The FMCG firm’s revenue rose 20.94% YoY to Rs 11,862 crore during the same period. Its domestic volume growth jumped 7% in Q3. The company’s strong performance was led by double-digit growth in its homecare product segment, while its beauty and personal care segment clocked a 9% YoY rise in revenues. HUL stated that rural growth continued to outpace urban during the quarter and is growing in double digits. 

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Hero MotoCorp to enter Mexican market; enters into partnership with Grupo Salinas

Hero MotoCorp Ltd announced that it will soon commence operations in Mexico. The company has entered into a distribution agreement with Grupo Salinas (a group of companies founded by Mexican entrepreneur Ricardo Salinas). In the first phase of operations, Hero MotoCorp will launch 9 products. This includes motorcycles for work (100cc), street (125cc), premium (150cc,160cc), as well as scooters.

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Marico Q3 Results: Net profit rises 13% YoY to Rs 312 crore

Marico Ltd reported a 13% YoY increase in consolidated net profit to Rs 312 crore for the quarter ended December (Q3). The FMCG firm’s revenue rose 16.34% YoY to Rs 2,122 crore during the same period. The company’s performance in Q3 was driven by strong domestic volume growth of 15% and a constant currency growth of 8% in the international business. 

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NALCO announces Rs 749 crore share buyback plan

National Aluminium Company’s (NALCO) board has approved the buyback of 13.03 crore shares for about Rs 749.10 crore. The shares will be bought back at Rs 57.5 per share, which is a 24.5% premium over Monday’s closing price of Rs 46.15. NALCO has fixed February 8 as the record date to ascertain the eligibility of shareholders for the buyback of equity shares.

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Jyothy Labs Q3 Results: Net profit rises 18% YoY to Rs 53 crore

Jyothy Labs Ltd reported an 18% YoY increase in consolidated net profit to Rs 53.2 crore for the quarter ended December (Q3). The FMCG firm’s revenue from operations rose 13.3% YoY to Rs 477 crore during the same period. Jyothy Labs stated that the revival of consumer sentiment is reflecting in the company’s performance across its brand portfolio. The company has witnessed demand acceleration in general trade and e-commerce platforms in Q3.

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Sterling and Wilson Solar commissions 25 MW solar energy project in Oman

Sterling and Wilson Solar Ltd (SWSL) has commissioned a 25 megawatt (MW) solar project in Oman. The project was awarded to SWSL by global energy company Shell. The solar project, located on a 50-hectare site within Sohar Freezone, will save 25,000 tonnes of carbon emissions annually. 

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India Cements Q3 Results: Net profit at Rs 67.90 crore

India Cements Ltd reported a consolidated net profit of Rs 67.90 crore for the quarter ended December (Q3). It had posted a net loss of Rs 8.79 crore during the corresponding period in FY20. The company’s revenue from operations declined 4.79% YoY to Rs 1,184.68 crore in Q3 FY21. The company stated that the Covid-19 pandemic had severely impacted its normal business operations.

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Dr. Reddy’s Labs terminates Covid-19 treatment study in Kuwait

Dr. Reddy’s Laboratories has terminated its clinical study of Fujifilm Holdings’ Covid-19 treatment Avigan in patients with moderate to severe symptoms in Kuwait. This comes after data from the Kuwait trial showed that the difference in time taken by Avigan and a placebo to resolve a sustained absence of oxygen in the tissues was not significant enough to continue the trial. Dr. Reddy’s stated that a late-stage North American trial of Avigan in patients with mild to moderate Covid-19 will continue.

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Canara Bank Q3 Results: Net profit at Rs 739 crore

Canara Bank reported a consolidated net profit of Rs 739.20 crore for the quarter ended December (Q3). The state-owned bank had reported a net profit of Rs 406.43 crore during the corresponding period in FY20. Net interest income (NII) grew 14.58% YoY to Rs 6,081 crore in Q3 FY21. Provisions for bad loans and contingencies stood at Rs 4,327.34 crore, compared with Rs 1,814.32 crore in Q3 FY20.

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Axis Bank Q3 Results: Net profit falls 36% YoY to Rs 1,117 crore

Axis Bank Ltd reported a 36% YoY decline in net profit to Rs 1,116.6 crore for the quarter ended December (Q3). The bank’s net interest income (NII) rose 14% YoY to Rs 7,372.7 crore during the same period. Provisions increased by 32.7% YoY to Rs 4,604.28 crore. Axis Bank’s gross non-performing asset (NPA) ratio stood at 3.44%, compared with 4.18% in Q2.

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Aditya Birla Fashion to acquire 51% stake in Sabyasachi for Rs 398 crore

Aditya Birla Fashion and Retail Ltd (ABFRL) has announced a strategic partnership with designer brand Sabyasachi, by signing a definitive agreement for acquiring a 51% stake in the Sabyasachi brand. The cost of acquisition or the price at which the shares are acquired will be approximately Rs 398 crore. The indicative time period for completion of the acquisition is 30-45 days.

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Tata Elxsi partners with Syntiant to provide low-power edge AI device development for voice applications

Tata Elxsi and US-based Syntiant Corp. have announced a collaboration to help manufacturers design and develop low-power always-on voice applications across multiple product categories. Some of these categories include smart home devices and consumer electronics, along with industrial & automotive use cases. The developed application aims to provide end-to-end solutions and services for customers using Syntiant’s deep learning Neural Decision Processors.  

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Stove Kraft IPO subscribed 2.93 times on Day 2

The initial public offering (IPO) of Stove Kraft was subscribed 2.93 times on the second day of bidding. The IPO has received bids for 1.72 crore equity shares, against an offer size of 58.94 lakh equity shares. The reserved portion for retail investors was subscribed 13.07 times. The portion set aside for non-institutional investors was subscribed 1.85 times. Qualified institutional investors have put in 8.15% bids against the reserved portion.

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IMF Projects 11.5% Growth Rate for India in 2021 – Top Indian Market News

IMF projects 11.5% growth rate for India in 2021

According to the World Economic Outlook Update by the International Monetary Fund (IMF), the Indian economy is likely to recover at a faster pace in 2021. The IMF has projected an 11.5% growth rate for India in 2021, which makes the country the only major economy in the world to register double-digit growth this year. China is next with 8.1% growth in 2021, followed by Spain (5.9%) and France (5.5%). IMF’s latest growth projection is in line with the Indian government’s assessment of a strong revival in the coming months, especially after the recent vaccine approvals. 

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Farmers clash with police at Red Fort; one dead as tractor overturns

Thousands of farmers entered New Delhi and reached Red Fort and ITO from Singhu and Ghazipur borders as part of their tractor rally on Tuesday. The farmers deviated from the pre-approved route and clashed with the Delhi Police, vandalised buses, and breached barricades. The police, in turn, resorted to lathi-charge and also lobbed tear gas shells. A farmer in his 30s, who was on one of the tractors, was allegedly hit by a tear gas shell on his head. He started bleeding profusely, his tractor overturned, and was claimed to have died on the spot. 

Reliance Jio, Bharti Airtel, and Vodafone Idea suspended their internet services in parts of the National Capital Region (NCR) following a Home Ministry directive on Tuesday, in the wake of farmers’ violent protests.

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Inox Leisure commences operations at new multiplex in Thane

Inox Leisure Ltd has commenced commercial operations at a new multiplex at Thane, Maharashtra. The company is now present in 69 cities with 151 multiplexes, 641 screens. It has a total seating capacity of 1.46 lakh seats across India. According to Unlock 5 guidelines issued by the government, multiplexes and cinema halls are now operating under half of their sitting capacity.

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Hero MotoCorp may launch electric car as part of new future-forward lineup: Report

According to a report from the Times of India, Hero MotoCorp may launch an electric car as part of its efforts to fuel the next leap in mobility. The company has already prototyped a high-utility, modular electric three-wheeler (Quark 1), which can be converted into a two-wheeler based on the requirements of the user. “Similar innovations and solutions— beyond its traditional two-wheeler business— will form the new line-up that the company is working on as part of a vision of the future of mobility,” said Pawan Munjal, chairman of Hero MotoCorp.

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Adani Ports to raise $500 million via dollar bonds to refinance overseas debt

Adani Ports & Special Economic Zone Ltd (APSEZ) on Tuesday said it will raise $500 million (~Rs 3,645 crore) through dollar bonds. The proposed bonds will have a 10-year maturity. The funds will be used for early redemption of dollar bonds of the company which matures in 2022. Investment banks Barclays, Bank of America, and Citibank have been selected as advisors for the proposed bond issuance.

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Petrol crosses Rs 86 mark in Delhi, diesel above Rs 76

The price of petrol touched a record high of Rs 86.05 per litre in Delhi, while diesel price rose to Rs 76.23 per litre. Petrol and diesel cost Rs 92.62 and Rs 83.03 per litre, respectively, in Mumbai. In the last 10 weeks, state oil companies have raised prices of petrol by Rs 5 per litre and that of diesel by nearly Rs 6 per litre. Taxes, which the government raised steeply last year, comprise about 60% of the fuels’ retail prices.

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Affle India’s subsidiary to acquire business assets of Discover Tech

Affle MEA FZ-LLC (AMEA), a wholly-owned subsidiary of Affle (India) Limited, has entered into a definitive Business Transfer Agreement to acquire the business assets of Israel-based Discover Tech Limited. As part of the deal, the technology platform, brand name, intellectual property rights, and business relationships of Discover Tech will be acquired by AMEA. The cost of the acquisition is estimated at $1.15 million (~Rs 8.38 crore).

Jubilant Foodworks completes acquisition of 10.76% stake in Barbeque Nation

Jubilant Foodworks Ltd has completed the acquisition of a 10.76% stake in Barbeque Nation Hospitality Limited (BNHL). On December 31, the company said it would invest Rs 92 crore into BNHL. BNHL owns and operates 138 Barbeque Nation restaurants across 73 cities in India.

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Hero MotoCorp to Sell Harley-Davidson Motorcycles in India – Top Indian Market News

Hero MotoCorp to sell and service Harley-Davidson motorcycles in India

Hero MotoCorp Ltd. has signed an agreement with Harley-Davidson Inc. to develop and sell premium motorcycles in India, under the Harley brand name. According to the distribution agreement, Hero will also sell the accessories, parts, and merchandise of the US-based motorcycle maker. This would allow Harley Davidson to retain its operations in India.

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Tata Motors Q2 Results: Net Loss increases to Rs 307 crore

Tata Motors Ltd. reported a consolidated net loss of Rs 307.3 crore, for the quarter ended September (Q2). The company’s total revenue from operations declined by 18.19% to Rs 53,530 crore, during the same period. The company has now reported a net loss for three quarters in a row. The share price of Tata Motors saw a rise of 2.21%, and closed at Rs 136.65 on the NSE today.

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TCS partners with Equinor for digital transformation

Tata Consultancy Services (TCS) has been selected as a strategic partner by Equinor, a Norway-based global energy company. The partnership will help to accelerate Equinor’s vision of becoming a digital energy company. TCS will use its expertise and technology framework to help Equinor achieve its growth and transformation objectives.

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Bharti Airtel reports net loss of Rs 763 crore in Q2

Bharti Airtel Limited has reported a consolidated net loss of Rs 763 crore, for the quarter ended September (Q2). The company’s revenue from operations increased by 22% year-on-year (YoY) to Rs 25,785 crore, during the same period. The share price of Bharti Airtel fell by 0.17%, and closed at Rs 433.30 on the NSE today.

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HCL Tech completes acquisition of Cisco’s SON platform

HCL Technologies Limited has completed the acquisition of Cisco’s Self Optimization Network (SON) technology. The cost of the acquisition has been estimated at $49 million (~Rs 361 crores). The Cisco SON platform will help HCL to meet the needs of its customers in the telecommunications industry.

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Angel Broking reports Profit after Tax at Rs 74.6 crore in Q2

Angel Broking has reported its highest-ever quarterly profit after tax (PAT) at Rs 74.6 crore, for the quarter ended September (Q2). The total income has increased by 29% quarter-on-quarter (QoQ) to Rs 317.9 crore. The Board of Directors of Angel Broking has approved an interim dividend of Rs 4.15 per share.

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Tech Mahindra acquires Momenton and Tenzing to boost financial services business

IT major Tech Mahindra, on Tuesday, said it has acquired Australian-based Mementon, a digital enterprise technology firm, for Rs 75 crore. The IT company has also acquired New Zealand-based Tenzing Ltd., which is a technology consulting company, for Rs 217.3 crore. The two companies will help Tech Mahindra to further strengthen its financial services position in the Australia-New Zealand (ANZ) market.

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Amara Raja Batteries Q2 Results: Net Profit falls 8% YoY to Rs 201 crore

Amara Raja Batteries Limited has reported an 8% year-on-year (YoY) decline in net profit to Rs 201 crore, for the quarter ended September (Q2). The company’s revenue from operations increased by 14% to Rs 1,936 crore, during the same period. The share price of Amara Raja Batteries saw a rise of 3.38%, and closed at Rs 786 on the NSE today.

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Ceat Limited Q2 Results: Net Profit jumps four-fold to Rs 182 crore

Ceat Limited, on Tuesday, reported a four-fold increase in net profit to Rs 182.18 crore, for the quarter ended September (Q2). The tire manufacturing company’s revenue from operations increased by 16.96% to Rs 1,978.47 crore, during the same period. The share price of Ceat Ltd. saw a rise of 1.19%, and closed at Rs 1,142 on the NSE today.

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Patel Engineering gets Rs 1,564 crore order to build hydro project in Arunachal Pradesh

Patel Engineering Limited has received an order worth Rs 1,564.42 crore to build the 2,000 MW (megawatt) Subansiri Lower Hydro Electric Project in Arunachal Pradesh. The company has stated that this would be the largest hydro power generation project in India. The project is located at Kolaptukar village, in Kamle district of Arunachal Pradesh.

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