Author: MM Desk

Titagarh Rail Systems (TRSL), renowned for its railway freight wagons, has commenced production of trainsets for the Bangalore Metro Rail Corporation (BMRCL). This initiative is part of a contract with China Railway Rolling Stock Corporation (CRRC) for the Phase 2 Yellow Line project of the Bengaluru Metro. The production of trainsets at Titagarh Rail’s state-of-the-art facility in Uttarpara, West Bengal, marks a significant milestone in the company’s contribution to India’s urban transportation infrastructure. In a filing with the stock exchange on Friday, TRSL highlighted the importance of this project. “The contract between BMRCL and CRRC Nanjing Puzhen Co, signed in…

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Hyundai Motor India Limited (HMIL) is poised to make a significant move in the Indian financial market, with plans to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) expected to be completed imminently. This step brings the auto giant closer to launching its much-anticipated initial public offering (IPO). As one of India’s leading automobile manufacturers, Hyundai’s decision to go public marks a major milestone in its growth trajectory. The move aims to strengthen its market presence and unlock new avenues for capital to fuel its expansion plans and innovation initiatives. Industry experts…

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Nuberg EPC, a leading global engineering, procurement, and construction (EPC) company specializing in the chemical industry, announced its collaboration with PT. Hidrogen Peroxida Indonesia on a landmark project in Jakarta. Nuberg EPC has been awarded the contract to design, engineer, procure, and construct PT. Hidrogen Peroxida Indonesia’s state-of-the-art Hydrogen Peroxide plant, with a production capacity of 40,000 MTPA (metric tons per annum), this project reflects the company’s dedication fostering the chemical industry’s growth in Indonesia and throughout Southeast Asia. The contract was signed off with a high-profile meeting in Jakarta. The event was graced by the presence of PT Hidrogen…

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Bengaluru-based engineering hardware startup Ethereal Machines has raised $13 million in a Series A funding round led by Peak XV Partners and Steadview Capital. This funding highlights the growing opportunities in the manufacturing sector, buoyed by the government’s “Make in India” push. Existing investors Blume Ventures, Enam Investments, and Sandeep Singhal also participated in this round, according to a statement released by the firm on June 13. The company plans to use the funds to establish a new smart factory in Karnataka and to hire software and AI engineers for product expansion. Co-founder Kaushik Mudda shared that they have already…

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Mercedes Benz is set to invest Rs 3,000 crore in Maharashtra, announced state Industries Minister Uday Samant on Thursday. This substantial investment is expected to bolster the state’s economy and create numerous employment opportunities. Minister Samant, currently on a tour in Germany, met with senior executives of Mercedes Benz to discuss the investment possibilities in Maharashtra. He shared the news through a post on the social media platform X, highlighting the positive outcomes of his meeting. “Mercedes Benz will invest Rs 3,000 crore in Maharashtra this year. This will help create employment opportunities in the state,” Samant stated. The investment…

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Honeywell (NASDAQ: HON) has unveiled its Battery Manufacturing Excellence Platform (Battery MXP), an advanced artificial intelligence (AI)-powered software solution aimed at revolutionizing gigafactory operations. Designed to enhance battery cell yields and expedite facility startups, Battery MXP promises to optimize gigafactory performance from day one. Traditional battery manufacturing methods often result in material scrap rates as high as 30% during steady-state operations, with even higher rates during facility startups. This inefficiency leads to significant financial losses due to wasted energy and materials, as gigafactories gradually scale to efficient production levels over several years. Battery MXP leverages AI to detect and address…

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Michelin has launched its most fuel-efficient truck and bus tyre in India, the MICHELIN X Multi Energy Z+. Engineered specifically for Indian road and load conditions, this tyre caters to the growing demand for fuel-efficient solutions among Indian fleet owners. The MICHELIN X Multi Energy Z+ is a significant advancement in tyre technology, featuring the industry’s lowest rolling resistance, which delivers up to 15% fuel savings. This tubeless truck tyre, sized at 295/80R22.5, is an upgraded version of the acclaimed MICHELIN X Multi Energy Z. It is designed to help reduce CO2 emissions by up to 8 tons, addressing both…

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Suven Pharma, has announced on Thursday its acquisition of a 67.5% stake in Hyderabad-based Sapala Organics for Rs 229.5 crore. The deal is subject to customary working capital and net debt adjustments. In a regulatory filing, Suven Pharmaceuticals confirmed that it has entered into a definitive agreement for this significant investment in Sapala Organics, a company known for its presence in the fast-growing segment of oligo and nucleic acid building blocks. “We see massive potential given it’s a niche technology in the rapidly growing space. Nucleic acid-based therapy targets diseases at a genetic level and has the potential to help…

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Ather Energy, the electric scooter manufacturer based in Bengaluru, has selected Aurangabad, now officially in Maharashtra for its third production facility. The new plant will have the capacity to manufacture 1 million two-wheelers annually, significantly boosting Ather’s production capabilities. Sources indicate that an agreement with the Maharashtra state government is imminent, though an official spokesperson for Ather Energy declined to comment on the matter. The company plans to invest Rs 1,000 crore in the project, which will be developed in phases and span over 100 acres. This expansion follows Hero MotoCorp’s recent acquisition of a 2.2% stake in Ather Energy…

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Bharat Heavy Electricals Limited (BHEL) has announced the acquisition of significant orders worth Rs 7,000 crore from Adani Power for the development of two supercritical thermal power plants. This landmark achievement underscores BHEL’s leadership in the power generation sector. The first order is for the construction of a 2×800 MW supercritical thermal power plant in Raipur district, Chhattisgarh. The second order involves the development of another 2×800 MW supercritical thermal power plant in Mirzapur district, Uttar Pradesh, through MTEUPPL, a subsidiary of Adani Power Limited. BHEL disclosed these details in an official statement released on Friday. BHEL’s scope of work…

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