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France’s Exxelia acquires 70% stake in Indian magnetic component maker SVM
With this with strategic investment in SVM, Exxelia expands footprint in India and enhances its magnetics offering for medical and adds busbars to its power electronics passive components portfolio.Read more
MAGIC selected for DPIIT's Startup India Manufacturing Incubator Initiative
This initiative aims to fuel innovation within India's manufacturing sector, creating new opportunities for manufacturing-focused startups.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
Hero-owned Tessolve acquires Dream Chip Technologies for Rs 4 billion
This move aligns with India’s Semiconductor Mission launched in late 2022 to bolster the country’s role in this critical industry following the global chip shortages post-COVID-19.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
Kataria Industries buys Ratlam Wires' manufacturing unit for Rs 306 million
Kataria Industries specialises in producing low relaxation pre-stressed concrete (LRPC) strands and post-tensioning anchorage systems, primarily used in infrastructure, road, bridge, and power transmission projects.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
Shyam Metalics rises 3% on new blast furnace and sinter plant in West Bengal
The facility also features an 18 MW top gas pressure recovery turbine (TRT), which improves energy recovery by 10%, and an evaporative cooling system that reduces water and power consumption by 20% compared to standard systems.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