IMFA Acquires 26% Stake in EG Urja Strot, Secures 65 MW Hybrid Renewable Power for Ferrochrome Operations

Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of ferro alloys, announced the acquisition of a 26% equity stake in EG Urja Strot Private Limited for an aggregate consideration of approximately Rs 110.18 crore.

The company has also executed a 29-year Power Purchase Agreement (PPA) with EG Urja Strot under the Captive Consumer structure as defined under the Electricity Act, 2003 and Electricity Rules, 2005, securing a contracted demand of 65 MW of hybrid renewable power for its ferro chrome operations. The underlying hybrid renewable energy project has a total installed capacity comprising solar capacity of 81.4 MW, wind capacity of 102.6 MW and battery energy storage system (BESS) capacity of 25 MWh, of which IMFA will draw 65 MW as a captive consumer. The indicative timeline for completion of the project is June 2027.

This development follows the previously announced 70 MWp hybrid renewable energy sourcing arrangement, expected to commence in Q2 FY27. With the signing of this agreement, IMFA’s contracted renewable energy supply portfolio stands at 135 MW. About 1.6 tonnes of carbon emission shall be offset annually and ~45 lakh tonnes over the course of the agreement, marking a significant step in IMFA’s transition to cleaner and more sustainable energy sources.

Renewable energy is now expected to account for nearly 40% of the Company’s total energy mix in the next fiscal. It will also help ensure reliable and cost-effective power supply for the company’s operations.

Incorporated on March 6, 2025, EG Urja Strot Private Limited is engaged in the renewable energy business in India.

Commenting on the development, Mr Binoy Agarwalla, Vice President and Head, Power Business Unit, said, “This acquisition is aligned with IMFA’s long-term strategy of strengthening energy security whilst increasing the share of renewable power in our overall energy mix. The arrangement will support our operations with reliable and competitively priced green power over the long term.”

Mr Agarwalla added, “The combination of solar, wind and battery storage capacity is expected to improve operational efficiency and provide greater stability in power procurement. Building on the strong foundation of our integrated business model, we will continue to pursue opportunities that enhance competitiveness and create sustainable value for stakeholders.”

About IMFA

Indian Metals & Ferro Alloys Ltd (IMFA), incorporated in 1961 and headquartered in Bhubaneswar, Odisha, is India’s largest fully integrated producer of value-added ferrochrome with an installed furnace capacity of 289 MVA capable of producing 434,000 tonnes per annum (tpa). The company operates captive chrome ore mines at Sukinda and Mahagiri, along with manufacturing complexes at Therubali, Choudwar and Kalinganagar. It also has captive power generation capacity comprising 200 MW coal-based and 4.55 MWp solar. IMFA’s operations are benchmarked to international standards and are ISO 9001 (Quality Management Systems) certified.

With the greenfield ferro chrome project in Kalinganagar, total furnace capacity will stand at 355 MVA (534,000 tpa). Chrome Ore requirement for the enhanced smelting capacity will be entirely met from the company’s captive chrome ore mines and supported by hybrid renewable power. As part of its diversification strategy, a 120 kLD grain-based ethanol plant is being set up at Therubali, Odisha.

TCS Unveils SovereignSecure Cloud™ in Europe to Power Digital Autonomy and Compliance

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has expanded its global cloud portfolio with the launch of SovereignSecure CloudTM in Europe. This bespoke offering, designed specifically for governments, public sector enterprises, and regulated industries, combines sovereign cloud architecture with AI capabilities to enable sovereignty across data, operations and digital infrastructure.

In the European Union (EU), the offerings will enable enterprises to achieve digital autonomy, strengthen regulatory compliance and enhanced security in an increasingly complex global environment without compromising on the speed, agility, and interoperability essential to modern businesses. The launch of TCS SovereignSecure CloudTM in the EU builds on its successful rollout in India in 2025, followed by expansions into Kenya, East Africa and the Philippines.

TCS SovereignSecure CloudTM for the EU has been designed to provide strategic autonomy through a multi-layered approach. It comprises a sovereign cloud layer delivered through hyperscalers, providing scale and the flexibility to operate securely within the EU regulatory framework. The national sovereign cloud layer enables country-specific localization while bringing operations under a unified control plane. And its enterprise cloud services layer leverages the EU-specific TCS Enterprise Cloud Framework, a unified orchestration and control layer that enables enterprises to dynamically apply the appropriate level of sovereignty across data, operations, and technology based on workload, risk, and sector.

Sapthagiri Chapalapalli, Head of Europe, TCS, said, “European organizations are looking to strike a balance between addressing supply chain and sovereignty risks while ensuring leverage of frontier technologies to be globally competitive. TCS SovereignSecure Cloud solutions mark an important milestone for TCS in Europe, as our customers can now benefit from a pragmatic approach to cloud that ensures resilience and sovereignty that is contextualized to the enterprise.”

TCS is also introducing the TCS Sovereignty Consulting and Delivery Framework in the EU to help organizations become a "minimum viable sovereign enterprise" by finding the right balance between control and flexibility. It recognizes that not all workloads need the same level of sovereign protection. Using a practical, risk-based approach, it categorises workloads by importance and applies the right level of sovereignty to each, focusing effort where they deliver the greatest impact and risk mitigation.

As enterprises and governments across Europe accelerate their digital transformation journeys, the need for secure, compliant and sovereign cloud architectures has never been more critical. With SovereignSecure CloudTM, TCS is bringing together the scale of hyperscalers, localized sovereign controls, and AI-led capabilities to help organizations achieve digital autonomy without compromising on agility, innovation or operational resilience.

This new TCS SovereignSecure CloudTM offering leverages TCS’ strength in the European region, enabling organizations to innovate and grow with more flexibility. Operating in Europe for over 45 years, TCS has a diverse workforce operating from 58 offices across the region. TCS drives digital transformation for some of Europe’s leading multinationals adapting to the changing digital landscape of today across industries such as banking and financial services, manufacturing, telecom, retail, travel, logistics, and more. TCS is committed to serving as a trusted IT service provider across its TCS European Delivery Network of 10 data centres and 21 delivery locations across Europe.

AM/NS India Achieves World First with ABS‑Certified Ultra‑High Strength Welded Pipes

• Certified by American Bureau of Shipping (ABS), confirming compliance with stringent international standards for offshore applications, including strength parameters
• Company demonstrates world-class manufacturing capabilities in high-performance, critical steel applications. 
• Contributes to ‘Atmanirbhar Bharat’ vision by enabling indigenous production and reducing imports

ArcelorMittal Nippon Steel India (AM/NS India) has demonstrated its world-class manufacturing capabilities by becoming the first steel company in the world to produce the highest strength welded pipes (EQ70 grade) used in marine engineering projects, with certification from the American Bureau of Shipping (ABS). The ABS is a leading maritime classification society that provides independent validation of compliance, including strength parameters, with globally recognised standards.

While setting a new benchmark in offshore engineering, this endeavour by ArcelorMittal Nippon Steel India strongly supports the ‘Atmanirbhar Bharat’ and ‘Viksit Bharat’ initiatives by enabling the domestic availability of indigenously produced highest strength welded pipes, replacing seamless pipes currently imported from Europe for critical applications such as oil & gas platforms, offshore wind structures, and deepwater pipelines. With high performance welded pipes, customers from India’s offshore and engineering sectors will benefit with enhanced supply security, shorter lead times, and lower costs, as well as improved competitiveness both domestically and internationally.

The company’s latest advancement further reinforces its commitment to steelmaking innovation, supported by the strong technological expertise, R&D capabilities, and global best practices of its parent companies ArcelorMittal and Nippon Steel. Aligned with its brand promise – ‘Smarter Steels, Brighter Futures’, this milestone underscores ArcelorMittal Nippon Steel India’s role in building a resilient domestic steel ecosystem while catering to highly specialised and regulated global applications.

ArcelorMittal Nippon Steel India has already supplied a substantial quantity of welded pipes to a leading oil and gas producer in the country.

Equivalent to the American Petroleum Institute (API) 5L X100Q, EQ70 grade is a high-strength low-alloy steel grade with a minimum yield strength of 690 megapascals (MPa) and exceptional toughness. EQ70 grade welded pipes meet the demanding requirements of offshore applications such as leg bracing in jack-up rigs and deepwater pipelines. Their superior strength allows for thinner, lighter pipes without compromising structural integrity, while their advanced weldability and corrosion resistance ensure reliability in harsh marine environments.

The successful fabrication of welded pipes from ABS EQ70 grade plates using Submerged Arc Welding (SAW) at the company’s flagship plant in Hazira, Gujarat, sets new industry standards for safety, sustainability, and cost-effective production for critical offshore projects. Producing ultra-high strength welded pipes is technically challenging, as it requires maintaining uniform strength and toughness across both the base metal and the welded seam, while ensuring structural integrity under extreme offshore conditions. This innovation advances India’s manufacturing capabilities further up the value chain.

The ABS certification has provided an independent validation that the welded pipes met globally recognised standards for safety, strength, structural integrity, and performance in marine environments. The certification is widely regarded as a key requirement for participation in offshore and marine projects, enabling the product to be considered for regulated international applications.

Uber and JSW Group Partner to Co‑Develop EVs for India’s Ride‑Hailing Market

Uber, India’s leading ridesharing app, today announced a partnership with the JSW Group for joint co-development and deployment of electric vehicles (EVs), tailored for the Indian ride hailing market, with the shared goal of supporting and scaling EV adoption for mobility services in the country in alignment with India’s net-zero goals.

The memorandum of understanding (MoU) was signed between Parth Jindal of JSW Group and Dara Khosrowshahi, Uber CEO, at the JSW headquarters in Mumbai last week.

Uber continues to expand access to electric mobility in India as part of its broader commitment to building a more sustainable future for urban transportation. Through partnerships with automakers, fleet operators, and ecosystem players, Uber aims to increase the availability and adoption of EVs across multiple categories on its platform.

As part of the (MoU) signed between Uber and JSW Green Mobility – a wholly-owned company of JSW Group - the two companies will deploy EV solutions that align with the price and performance expectations of the Indian market. The partnership will focus on exploring opportunities to develop and scale localised EV solutions suited for use on the Uber platform in various categories, in line with the evolving needs of India’s mobility ecosystem.

Speaking on the partnership, Parth Jindal of JSW Group, said, “We are excited to collaborate with Uber to explore scalable EV mobility solutions aligned with national net-zero goals for India. By combining Uber’s platform scale and mobility insights with JSW’s growing automotive and clean mobility ambitions, we hope to contribute meaningfully to India’s EV ecosystem.”

Prabhjeet Singh, President, Uber India and South Asia, said, “India’s transition to electric mobility requires strong ecosystem partnerships across technology platforms, automakers, fleet operators, and infrastructure players. Through this collaboration with JSW Group, we aim to help accelerate the adoption of EVs on the Uber platform by exploring solutions purpose-built for the needs of Indian riders and drivers. This partnership also reflects our continued commitment to supporting the Government of India’s vision of advancing green and sustainable mobility at scale.”

JSW MG Motor India Begins Production of MAJESTOR, India’s First D+ Segment SUV

• Longest, Widest, and Tallest dimensions - stands above D-segment SUVs
• Offers First-in-segment Triple Differential Locks (front, rear, and centre) and Advanced 4WD system with 10 off-road modes; deliver the best of both worlds
• India’s First D+ SUV with Crawl Control Mode and Level 2 ADAS
• Powered by best-in-segment power: 215.5 PS and 478.5 Nm torque
• 219 mm ground clearance*, and an 810 mm water wading capability
• Reinforcing reliability through 5-Year Unlimited KM Warranty, Free 5-Year Roadside Assistance for Unlimited Km and 5 Labour-Free Service**
• Customers can Pre-reserve the MAJESTOR at INR 41,000 with MG’s Complete Peace-of-Mind programme*
• With its dominating stance, best-in-class innovations, premium features, advanced safety, and reliability, MG MAJESTOR sets a new benchmark in the Indian premium SUV landscape. 

JSW MG Motor India has announced the start-of-production of the MG MAJESTOR, India’s First D+ segment SUV, at its manufacturing facility in Halol, Gujarat. The MG MAJESTOR is designed for customers who seek a lifestyle defined by bold presence, unyielding dominance and superior capability.

Engineered for demanding conditions, the MG MAJESTOR is equipped with an advanced 4WD system and segment-first triple differential locks, enabling superior traction and precise control across challenging terrains. Powered by a 2.0-litre twin-turbo diesel engine paired with an advanced drivetrain, the SUV delivers strong performance with controlled capability, ensuring confidence in real-world driving scenarios.

Driven by a customer-first philosophy, JSW MG Motor India offers the MG MAJESTOR with its Complete Peace of Mind programme, featuring a 5-5-5 ownership package comprising a 5-Year Unlimited Kilometre Warranty, 5-Year Roadside Assistance, and 5 Labour-Free Services*.

Commenting on the milestone, Biju Balendran, Deputy Managing Director, JSW MG Motor India, said, “The commencement of production of the MG MAJESTOR marks a significant step for us as we move closer to introducing a new benchmark in the premium SUV space. With the MAJESTOR, we are bringing together strong engineering, advanced capability and a commanding presence, aligned to the evolving expectations of customers. Built at our Halol facility with advanced processes and stringent quality systems, the MAJESTOR is engineered to deliver high standards of durability, performance and reliability. We are confident it will resonate strongly with customers looking for both capability and refinement in their next SUV.”

The Halol facility, known for its advanced manufacturing capabilities and stringent quality systems, continues to play a pivotal role in delivering world-class manufacturing standards. Equipped with precision engineering processes and robust quality control mechanisms, the plant ensures that every MG MAJESTOR is built to deliver high levels of durability, performance and reliability across demanding conditions.

Built on true SUV fundamentals, the MG MAJESTOR stands as MG’s most rugged and premium offering, designed to deliver commanding road presence along with exceptional real-world capability. With its strong proportions and bold design language, the SUV reflects a confident, upright stance while maintaining a refined and premium aesthetic suited for both urban environments and demanding terrains. Safety and intelligent technology remain integral to the MG MAJESTOR, with the SUV equipped with advanced driver assistance systems designed to enhance confidence, control and overall driving experience across diverse conditions.

Customers can pre-reserve the MG MAJESTOR at INR 41,000 on www.mgmotor.co.in, with early customers set to benefit from priority deliveries, exclusive previews and curated experiential drives.

Ground Clearence 4x2*

T&C Apply**