DSIJ Mindshare

JMC Projects (India), a listed subsidiary of Kalpataru Power Transmission Ltd, has secured new orders worth Rs. 556 crore.

Overall volumes in futures & options currently stand at 59.72 lakh contracts with a turnover of Rs. 5,24,534.82 crore.

This effort is likely to minimize the risk arising from foreign currency fluctuation as localized sourcing would reduce imports by nearly 20 per cent. Currently, the import content is 38 per cent of the company's raw material cost.

The acquisition would improve the combined annual revenues by US$ 400-500 million. Besides, it would result in annual cost synergies of US$200 million. 

Samsung Engineering Co. Ltd. has given approval to Cords Cable Industries Ltd. to be its pre-qualified supplier for international orders. This global level approval is for a period of five years starting from August 1, 2018.