The government shareholding in Engineers India Ltd (EIL) has fallen to 54.17% after it sold some shares under the company’s buyback programme. It had 57.02% in EIL prior to the launch of the Rs658.80 crore share buyback...
L&T to sell subsidiary L&T Cutting Tools for Rs 174 cr
Engineering conglomerate Larsen & Toubro (L&T) on Wednesday plans to divest its entire stake in L&T Cutting Tools for Rs 174 crore. The sale is part of L&T’s larger strategy to focus on core business...
EIL’s Rs 658.80-crore share buyback to open on July 25
State-owned Engineers India’s (EIL) Rs 658.80 crore share buyback will open on July 25 and close on August 7. According to a regulatory notice by lead manager IDBI Capital Markets and Securities, EIL plans to...
Wipro Infrastructure Engineering ties up with IAI
Wipro Infrastructure Engineering (WIN) and Israel’s largest aerospace and defence firm Israel Aerospace Industries (IAI) on Wednesday announced a strategic alliance for manufacturing composite aerostructure parts and...
Bankruptcy tribunal initiates action against Jyoti Structures
The Mumbai bench of National Company Law Tribunal (NCLT) on Tuesday cleared bankruptcy proceedings against Jyoti Structures after the company failed to repay dues worth Rs 7,000 crore to Indian banks. The company was...
Adventz Group signs $2 billion pact with Israeli firm Lesico
Adventz Group today said it has signed a USD 2-billion-plus agreement with Israel’s Lesico group to collaborate in light rail transit (LRT) projects in Tel Aviv and Jerusalem. “The MoU between Lesico with...
BHEL ties up with Kawasaki to make steel metro coaches
State-run engineering firm BHELBSE -0.33 % today said that it has entered into an agreement with Kawasaki Heavy Industries Ltd (KHI), Japan, to produce stainless steel coaches and bogies for metro rail. “To this...
Tube Investments regains lustre as investors angle for demerger gains
The Tube Investments of India Ltd stock had fallen after its restructuring plan was announced in early-November but has recovered now. The company plans to demerge its manufacturing business comprising auto components...
Siemens, Schneider Electric and Eaton Corporation join ABB in race for L&T’s electrical unit
Global industrial conglomerates Siemens, Schneider Electric and Eaton Corporation have joined ABB in the race to acquire the electrical and automation division of Larsen & Toubro, two people aware of the discussions...
Kirloskar Oil Engines to buy La-Gajjar Machineries
Kirloskar Oil Engines Ltd said it has executed a definitive agreement to buy a majority stake in La-Gajjar Machineries (LGM), the maker of Varuna and Raindrop brands of electric pumps. Kirloskar will acquire a 76% stake...
Warburg Pincus to invest $360 million to acquire a significant minority stake in Tata Technologies
A Warburg Pincus affiliate will invest $360 million (Rs 2,323 crore) for a 43% stake in Tata Technologies Limited, enabling the leading engineering and services provider from India enhance their business from automotive...
Greaves Cotton announces technology partnership with US-based Pinnacle Engines
As part of its strategy to establish itself as a leading “fuel agnostic powertrain solutions & services company”, Indian engineering company Greaves CottonBSE 3.40 % has announced a technology partnership with...
