Hyundai Heavy Industries Co., the world’s second-biggest shipbuilder, plans to raise about 1.29 trillion won ($1.2 billion) selling new shares for working capital amid shrinking orders in the global industry. The...
Amara Raja invests Rs 700 cr in new two-wheeler battery facility
India’s leading battery major Amara Raja Batteries Ltd (ARBL) will strengthen its two-wheeler battery plant with an estimated investment of Rs 700 crore. The company said it had started catering to electric vehicles as...
Kirloskar group in talks for majority stake sale in diesel generator unit
The Kirloskar group is in talks to sell a controlling stake in Kirloskar Oil Engines Ltd, its diesel generator manufacturing business, two people aware of the plan said. Kirloskar Oil Engines, one of the leading...
Blackstone in talks to buy majority stake in Comstar
Blackstone Group LP is set to buy a majority stake in Comstar Automotive Technologies Pvt. Ltd in a transaction that values the auto parts maker at $140-150 million (Rs1,000 crore), two people aware of the discussions...
SSG Capital Management in talks to buy stake in Emco Ltd
Asia-focused special situations investment firm SSG Capital Management Ltd is interested in acquiring a stake in transformer maker Emco Ltd, said two people aware of the development. Emco is engaged in manufacturing...
Schindler to invest Rs 170 cr to expand manufacturing facilities in India
Leading providers of escalators and elevators Schindler India is all set to invest Rs. 170 crores to expand its manufacturing facilities by setting up India’s first Escalator manufacturing line and towards...
United Technologies in bid to acquire Rockwell Collins: source
United Technologies Corp (UTX.N), the U.S. maker of Otis Elevators and Carrier air conditioners, has submitted an offer to acquire aircraft component manufacturer Rockwell Collins Inc (COL.N), a person familiar with the...
PSL Limited files for insolvency
The Ashok Punj-owned PSL Limited, the largest manufacturer of pipes in India, has filed for insolvency under the Insolvency and Bankruptcy Code, 2016. It owes Rs 4,000 crore to 24 banks and other institutions, including...
ABC Bearings board approves merger with Timken India; stock zooms 62%
ABC Bearings was locked in upper circuit for the second straight day, up 20% at Rs 286 on BSE, after the company said that the board has approved the merger with Timken India. Shareholders of ABC Bearings will get five...
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...
Polyhose acquires Ashok Leyland-John Deere JV facility
Polyhose Group, which has been manufacturing hoses for both the Indian and export markets, has acquired the construction equipment manufacturing facility of the Ashok Leyland-John Deere, joint venture, to foray into...
Ashland completes acquisition of Reichhold’s composites facility in France
Ashland Global Holdings Inc has completed the previously announced acquisition of a composites resin manufacturing facility in Etain (France) and its associated business from Reichhold Holdings International BV. The...
