In a secular bull market, secondary correction is a common phenomenon wherein small cap index has a tendency of correcting 12-15 per cent from swing highs, said ICICI Securities.
Texmaco-SSFMPL JV, a collaboration between Texmaco and SSF MPL, has won a contract worth Rs 179.89 crore from SJVN Arun-3 Power Development Company Limited for the construction of the Arun-3 hydroelectric power plant in Nepal. The scope of work includes procurement, fabrication, assembly, testing, and commissioning of the pressure shaft steel liner. The project is a collaboration between SJVN and the Nepal Government, and the ownership of the power plant will be transferred to Nepal after 25 years.
Deputy Managing Director of the company Sudipta Mukherjee said, "We are happy to announce the successful inauguration and operation of India s highest capacity Gantry Crane at the Subansiri Lower Hydroelectric Project. Texmaco Rail & Engineering Limited continues to push the boundaries of innovation and engineering excellence…We are proud to be part of India s journey towards harnessing clean and sustainable energy through projects like this."
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