KEC Says Powergrid Tender Ban Won’t Hit Ongoing Contracts

21 Nov 2025 CW Team

KEC International on Wednesday said the company expects “no bearing” on the execution of its existing Powergrid contracts after being barred from participating in future tenders by the state-owned transmission utility.

The clarification follows a communication from Power Grid Corporation of India Ltd (PGCIL) informing KEC that it has been excluded from bidding for, and receiving, new contracts for a period of nine months in connection with an earlier contractual issue.

In a statement to exchanges, KEC International said it “does not foresee any material impact on its ongoing operations or financial position”. The company added that it is reviewing its options, including potential legal recourse and approaching PGCIL for reconsideration.

In its exchange filing on Tuesday, KEC confirmed receipt of PGCIL’s notice, which cited alleged transgressions of contractual provisions in an earlier matter.

KEC reported an order intake of Rs 170.66 billion so far in FY26, marking year-on-year growth of 17 per cent. PGCIL accounts for 4 per cent of this year’s order intake, down sharply from 27 per cent in the previous year.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..