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Pai Machines buys manufacturing asset of L&T Construction Equipment’s unit
Pai Machines acquired the plant with a capacity to produce more than 1,800 units, featuring machines ranging in cost from 25 lakhs to 75 lakhs, and providing employment to over 300 people. Read more
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
Sales of Indian MCE industry to fall by 5-7% in FY2025: ICRA
Road construction accounts for 35-45% of MCE sales in India, followed by mining (20-30%), real estate (10-20%) and other sectors (railways, water supply, power etc.).Read more
India's MCE industry set for 70-80% expansion in 5 years: ICRA
The MCE industry, driven by the country’s infrastructure-led growth, has already witnessed a compound annual growth rate (CAGR) of 12% over the past decade (FY2015-FY2024), reaching 136,000 unit sales in FY2024.Read more
GOI approves Konoike Transport as buyer of Ferro Scrap Nigam for Rs 320 billion
FSNL, founded in 1979, specialises in recovering and processing scrap from slag in steel plants.Read more
Carborundum Universal acquires full stake in US-based Silicon Carbide Products
The transaction is expected to close by the end of October 2024. Read more
Caterpillar to invest Rs 5 billion to expand Tamil Nadu facilities
In addition to this MoU, agreements worth Rs 70.16 billion were signed with 16 global companies in San Francisco and Chicago.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
JSW Steel open to acquiring operating coking coal mines
Earlier this month, JSW Steel announced its acquisition of a 66.67% economic interest in M Resources NSW.Read more
State oil companies are investing in petrochemical; despite facing oversupply
The aim is to boost the production of essential chemicals used in plastics, paints, and other industrial applications, which have historically been imported from countries like China.Read more