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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
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
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
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
BYD shifts to import-only strategy in India amid FDI challenges
BYD currently imports three models from China and believes this strategy will sustain its operations in the near term.Read more
Price of natural rubber surges more than 33% amid strong demand and low supply
Domestic prices of natural rubber closed August at Rs 238 per kg on average, way above the trend in the past decade.Read more
Indian steel firms slash prices amid rising imports to protect market share
The recent capacity expansions by major players like JSW Steel, Tata Steel, and Jindal Steel and Power Ltd (JSPL) have come online amid a slowdown in demand, leading to an oversupply in the market.Read more
The three paths for mobile hydraulics amidst electrified powertrains
Changes to the hydraulic system (often the least efficient system on an off-highway vehicle) are viewed by many vehicle OEMs as necessary to achieve electrification ambitions. Read more
NMDC sets Rs 22 billion capex in FY25 for slurry pipeline and processing plants
A flagship project in this plan is the 135-kilometer slurry pipeline from Bacheli to Nagarnar. Read more