Exide Industries, one of India’s oldest automotive battery companies, reported a strong increase in revenue for the September quarter, but an equally significant jump in the cost of key raw materials prevented any benefit of the higher sales from flowing to the company’s bottom line. The company’s operating revenue jumped Rs 4,758 cr from Rs […]
Two weeks after announcing that it plans to invest more and more in developing ‘computer controlled vehicle technology’, Pune-based embedded software company KPIT Technologies has announced a tie-up with ZF, a €33 billion German automobile technology provider. KPIT Tech said it will develop software for next-generation, automated vehicles with ZF, which is based in Munich […]
Ramkrishna Forgings, which recently diversified beyond the automobile market to tide over the uncertainties associated with the sector, has won yet another contract from Indian Railways. The company said it won a contract o supply loco shells, the shell or body of locomotive engines or train engines. The value of the contract was not disclosed. […]
Talbros, one of India’s largest automobile components makers, reported a 16% increase in its full-year revenue for the year ended March, making it one of the few companies in India to report full-year growth. Full-year growth was made possible by a whopping 73% jump in revenues for the fourth and final quarter than ended in […]
Minda Industries, one of the world’s biggest auto-parts makers, said it will acquire German autoparts maker Delivis Group for 21 mln euros (Rs 163 cr). Minda, which supplies parts to almost all major automakers in India including Maruti Suzuki, said the acquisition is designed to “maintain technology leadership in lighting products market in India”. Delvis […]
Automotive parts and components manufacturer Ring Plus Aqua Ltd, a subsidiary of Raymond Ltd, announced the opening of its third manufacturing facility at Sinnar, Maharashtra. The new plant will produce starter ring gears, transmission flex-plates and integral shaft water pump bearings, Ring Plus Aqua Ltd said. Ring Plus Aqua has already two manufacturing facilities near […]
Setco Automotive Ltd, the largest clutch manufacturer in the medium and commercial vehicle segment (MHCV) in India, said it received approvals from leading truck manufacturers for supply of BS-VI compliant clutches. BS or Bharat Stage refers to emission regulation standards set by Indian regulatory bodies. BS norms are largely similar to the European emission norms […]
Subros Ltd, a leading manufacturer of thermal products for automotive applications in India, said it has executed a ‘definitive agreement’ worth Rs 11.15 cr for the purchase of certain assets of air conditioner maker Zamil Air Conditioners Private Ltd. Established in 1985 as a joint venture with Suri family of India, Denso Corporation & Suzuki […]
Amara Raja Batteries, India’s largest battery maker, said it has agreed to license stamping technology from Johnson Controls, one of the world’s largest automotive parts makers, used to make lead acid batteries. “The company has entered into an agreement with Johnson Controls Technology Company (JC), USA for acquiring the license for manufacturing advanced stamped grid […]
Lumax, India’s biggest maker of automotive lamps, reported a 32% increase in its Apr-Jun quarter, boosted by a sharp increase in revenue. Revenue jumped to Rs 496 cr, up 46% compared to the same quarter a year ago, while net profit rose to Rs 20 cr, up from Rs 15 cr in the same quarter […]
Hero MotoCorp has launched online shop for consumers to buy genuine parts and accessories for their Hero scooters and motorbikes. The portal, www.hgpmart.com, will be run by the company directly. However, it will tap close to 100 distributors in a ‘hub and spoke’ model for fulfillment. Consumers can buy any part by following a step-by-step […]
Textile and garments maker Arvind Ltd said it set up a joint venture with global auto-seat specialist Adient to manufacture automotive seat fabrics in India. Adient Arvind Automotive Fabrics will be based in Ahmedabad, India, and will supply materials both to Indian and foreign customers of Adient. “The joint venture will benefit from synergies between […]
Auto components maker Bharat Forge Ltd said it was buying a 45% stake in Tork Motorcycles at a cost of up to Rs 30 cr, taking yet another step towards adapting to the upcoming shift from internal combustion engines to electric vehicles. Tork has designed, developed and built a complete electric motorcycle, the company said. […]
Bharat Forge, India’s largest exporter of auto components, said it opened a research and development facility at MIRA Technology Park in the UK to design powertrain solutions for Electric Vehicles. The powertrain refers to components such as the transmission that converts the engine’s power into movement. So far, much of the research on EVs were […]
Amara Raja Batteries Ltd said it has inaugurated the first phase of its two-wheeler battery plant in Chittoor with a capacity of 5 mln units per year. Before this, the company had a capacity of only 12 mln two-wheeler batteries per year. The new plant will have an ultimate capacity of 17 mn units with […]
Automotive wheel maker Steel Strips Wheels said it won a contract to supply 6,000 truck wheels to a European customer for use on trailers. “Steel Strips Wheels has already marked its entry into the high potential truck and trailer market in EU and aims to strengthen it in the future,” it said. The wheels have […]
Mahindra & Mahindra Ltd said it opened a spare parts warehouse in Mahindra World City, Jaipur. “It is one of the largest warehouses in the country and the company’s first in northern India, it will cater to the requirement of Mahindra customers in north and north western region of the country for both automotive and […]
Steel Stripes Wheels Ltd said it achieved a 17% growth in total rim wheel sales in September from 12.08 lacs to 10.91 Lacs of last financial year. ´The tractor and passenger segment did extremely good and are expected to tread the same path in 3rd quarter of this financial year,´ said the company. Domestic Tractor […]
Fiem Industries Ltd. said it raised Rs 120 crore by placing 12 lakh shares with qualified institutional buyers. The shares were priced at Rs 1002 each. Fiem manufacturers automotive lighting & signaling equipments and rear view mirrors. Most of its revenue comes from the two-wheeler segment of the vehicle industry. The company´s shares had closed […]
