DCX Systems LTD Awarded Export Orders Worth INR 154.80 Cr.

Key Takeaways from the Award Win

• DCX Systems Limited received an export order from Israel-based M/s. Elta Systems Ltd. is worth US$ 18.49 million (approximately INR 154.80 crores).
• The order involves the supply of RF Electronic Modules and is expected to be fulfilled within 12 months.
• There is no promoter or related party involvement in the transaction, ensuring that the contract is conducted at arm’s length.

M/s. ELTA Systems Ltd. from Israel has awarded a purchase order to supply RF Electronic Modules, with the total contract valued at US$ 18,495,779.10 (approximately INR 154.80 crores at an exchange rate of 1 USD = INR 83.70). 

As per a stock exchange filing, the order, placed by an international entity, is to be executed within a 12-month timeframe. There is no involvement or interest of the promoter, promoter group, or group companies in the awarding entity, and the contract does not fall under related party transactions.

About DCX Systems Limited

Incorporated in 2011, DCX Systems Ltd. specialises in system integration and the manufacturing of cables and wire harness assemblies. The company is recognised as a prominent Indian Offset Partner (IOP) for international OEMs, particularly within the aerospace and defence sectors. DCX Systems Ltd. is a key partner for ELTA Systems Limited and Israel Aerospace Industries Limited (IAI Group), focussing on the Indian defence market for producing electronic sub-systems and cable and wire harness assemblies. Over time, DCX Systems has developed a strong reputation for its system-driven efficiency, quality control, and timely delivery, fostering long-term relationships with its OEM clients and contributing to significant growth and a robust order book.

Key Takeaways from JSW Steel’s Achievement 

• JSW Steel USA achieved an impressive 25% energy reduction, demonstrating the company's commitment towards sustainability and conservation of energy.
• The US Department of Energy recognised the company for its outstanding performance in the Better Plants Challenge.
• Moreover, JSW Steel USA announced an investment of USD 145 million to its facility in Mingo Junction to support the production of steel for use in offshore wind energy projects which feed into the 'cleaner energy power revolution'.

In addition to energy savings, JSW Steel USA committed to strengthening the green future of its operations and announced an investment of $145 million for the Mingo Junction facility. This in turn will allow the production of monopile grade steel slabs for monopile pole towers used in offshore wind energy projects.

JSW Steel is featured in the DOE Better Buildings, Better Plants Solution Center, where partners have collectively saved nearly $22 billion in energy and avoided more than 220 million metric tonnes of greenhouse gas emissions.

“These industry leaders are demonstrating that decarbonization is not only possible – it’s happening now and it's good business. We invite organizations to take up the charge and join us to build the clean energy economy of the future", DOE Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy Jeff Marootian said.

As a part of the improvement efforts, Parth Jindal, Director of JSW Steel USA, said the modernisations at the Baytown facility strengthen the company's focus on sustainability and lay on the long-term Environmental, Social, and Governance or ESG initiatives. He added that the investments will help JSW USA market high-quality steel products while increasing its niche in the speciality steel market, which will significantly reduce US dependence on imports from infrastructure and renewable energy sectors.

About JSW Steel Limited

JSW Steel is a flagship business of the diversified US$ 24-billion JSW Group and is one of the leading steel producers in India, the country's largest producer. With interests in energy, infrastructure, cement, paints, sports, and venture capital, the JSW Group has consolidated its organisational culture, which was certified to be a Great Place To Work in 2021. For three decades, JSW Steel has grown from a single manufacturing unit into India's premier integrated steel plant, having a capacity of 28.5 million tonnes per annum (MTPA) across India and the USA, the plans are to expand to 38.5 MTPA by FY25. Its largest plant at Vijayanagar, Karnataka, is 12 MTPA. Thus, it is India's single-largest steel production location. With a strategic partnership with Japan's JFE Steel, JSW Steel excels in research and innovations by exploiting cutting-edge technologies for high-value-added special steel products for different construction, automotive, or electrical applications. 

Key Takeaways:

• Dr Sridevi Khambhampaty has been appointed as the new Chief Executive Officer of Shilpa Biologicals Private Ltd.
• She has a PhD in Biophysics from the NCBS-TIFR Bangalore and currently holds a postdoctoral fellowship at Stanford University.
• Dr Khambhampaty has over 22 years in the biologics sector, with significant roles at Lymphoma & Leukaemia Research Foundation and then at Dr. Reddy's, Intas Pharmaceuticals, and Syngene International Ltd.

Dr Sridevi Khambhampaty is a seasoned biologics industry leader with over two decades of experience in product development for Indian, US, and EU markets. She has a PhD in Biophysics from NCBS-TIFR Bangalore and has a postdoctoral fellowship from Stanford University, California. She has an overall experience of 22+ years in various organisations, notably in the Lymphoma & Leukaemia Research Foundation, Dr Reddy’s, Intas Pharmaceuticals, and most recently, Syngene International Ltd.

Dr. Khambhampaty is regarded as an exceptional people leader who has consistently built high performing teams. Her deep understanding of the regulatory and compliance requirements of biologics development and manufacturing coupled with her business acumen make her highly suited for leading Shilpa Biologics into an extraordinary growth phase.  

About Shilpa Medicare Limited

Shilpa Medicare Limited operates as one of the world's largest speciality generic pharmaceutical companies, manufacturing high-quality, affordable medicines that healthcare professionals and patients trust in more than 100 countries, based on six manufacturing facilities. The company is always on the lookout for partners who have their values, work ethics, and commitment towards patients. The company record spans successful partnerships, starting from the licensing of products and technology to joint ventures, mergers, and acquisitions. They can provide organisational and commercial capabilities with a solid history of the success of their product launches. Financial strength will enable them to invest prudently in their products.

About Shilpa Biologicals Private Limited 

Shilpa Biologicals is a biologics manufacturing and services company, located in Dharwad, Karnataka, with a commitment towards curative therapies. It involves scientists and dedicated professionals. The company’s strong scientific knowhow base gives it a mandate to contribute to significant scientific breakthroughs in the world. Shilpa Biologicals has built a highly promising pipeline of wholly-owned projects that are intended to revolutionise the blood-product space and compete globally for top-of-the-line services. The company comprises talented professionals dedicated to enhancing patient welfare, wherein scientists are competent enough to challenge conventional thinking and offer innovative solutions towards complex scientific problem-solving.

Key Takeaways from Fed Rate Cut Implication on D-Street

• Fed’s rate cut could lead to increased capital flows in India, enhancing foreign investment and improving overall market sentiment for Indian equities.

• Indian markets are likely to be positive, especially in sectors such as financials, real estate, and consumer discretionary, with reduced borrowing costs.

• Growth in US economic activity could therefore also translate to increased sales and stock prices for technology and pharma.

The immediate impact of the rate cut by the Fed would be in terms of a huge shift in capital. Fewer yields from US assets mean it can be translated into reduced interest rates in the United States. This means investors are going to push back for a higher return in some other markets, like India. Foreign Institutional Investors would pour into Indian equity markets, thereby further improving liquidity, boosting stock prices and improving market sentiment.

Indian markets are likely to react positively to the Fed rate cut, mainly in interest-rate-sensitive sectors. Financial, real estate and consumer discretionary sectors may experience heightened activity as lower borrowing costs create a favourable environment for investment.

Technology and pharmaceutical sectors, two major contributors to India's export economy, may also benefit due to higher US economic activity as a result of lower interest rates. The pick-up in their sales may push up the prices of their shares and thereby propagate the rally.