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BEML’s Q2 profit drops amid weakening demand
BEML’s material costs, which constitute over half of its expenses, rose slightly by 0.2%, while total expenses dropped 7% to Rs 8.2 billion.Read more
L&T expands aerospace focus amid India’s $44 billion space market boom
The first launch of a privately built PSLV is expected in early 2025, with each rocket costing approximately Rs 2 billion.Read more
Amara Raja to launch battery recycling operations in TN by November end
Currently, 83% of the lead in the company’s manufacturing comes from recycled sources.Read more
Sig Sauer to manufacture 73,000 assault rifles by 2025 for the Indian Army
Sig Sauer also plans to increase the proportion of locally manufactured components, integrating more Indian technology and materials into its products.Read more
Schaeffler to lay off 4,700 jobs amid challenges in Europe’s auto sector
Overall, the job cuts will affect around 3.1% of Schaeffler's workforce of 120,000, which increased after its merger with electric powertrain specialist Vitesco.Read more
L&T to acquire 21% stake in E2E Networks in Rs 13.27 billion deal
E2E Networks specialises in CPU and GPU-based cloud computing platforms, leveraging its relationship with NVIDIA to support large-scale general and AI workloads. Read more
Schneider Electric replaces CEO Peter Herweck amid disagreements
Herweck, who served as CEO for 18 months, will be succeeded by Olivier Blum, currently leading Schneider's Energy Management division.Read more
Karnataka's Kannada labelling mandate stirs concerns among export manufacturers
An anonymous FMCG executive told the source that industry standards usually support a uniform packaging design across markets. Read more
Transformer steel shortage threatens India’s energy ambitions: GTRI
CRGO steel, essential for reducing energy loss in transformer cores, plays a pivotal role in the country’s power distribution network. Read more
Bharat Forge to acquire AAM India Manufacturing for Rs 5.44 billion
The acquisition is subject to approval from the Competition Commission of India (CCI) and other customary closing conditions. Read more