Carborundum Universal Limited (CUMI), part of the Murugappa Group, has reported its best-ever quarterly earnings for Q2 of the fiscal year 2024-25, with consolidated sales reaching a record-breaking INR 1,209 crore, reflecting a 7.6% increase from Q2 FY24. The profit after tax (PAT) also rose significantly by 13.7%, totaling INR 116 crore for the quarter. […]
In a significant strategic move, CG Power and Industrial Solutions Limited, a leader in electrical engineering, has announced the acquisition of the Radio Frequency (RF) components business from Renesas Electronics America Inc. The acquisition, valued at $36 million, is part of CG Power’s foray into the rapidly growing and highly profitable semiconductor design sector. The […]
Coromandel International Limited, a leading player in India’s agricultural solutions industry, announced a significant development in its pursuit of long-term supply security for phosphate fertilizers. The company disclosed that it will increase its shareholding in Baobab Mining and Chemicals Corporation (BMCC), a rock phosphate mining company based in Senegal, to 53.8%. The strategic move, finalized […]
Carborundum Universal Limited (CUMI), a leading materials sciences engineering solutions provider, has announced its decision to acquire a 100 percent stake in Silicon Carbide Products Inc. (SCP) based in Horseheads, New York, USA. The acquisition is valued at an enterprise price of USD 6.66 million (approximately INR 56 crore), with the transaction expected to close […]
Coromandel International Limited has appointed S Sankarasubramanian, Executive Director of the Nutrient Business, as its new Managing Director and Chief Executive Officer, effective from 7th August 2024. This decision was made by the Board of Directors, highlighting Sankarasubramanian’s extensive experience and successful track record as both a Chief Financial Officer and a Business Head. Key […]
Tl Clean Mobility Private Limited (TICMPL) has inked definitive documents with its parent company Tube lnvestments of India Limited (Tll) along with Multiples Private Equity Fund lll, State Bank of India (SBl) as well as other co-investors to raise capital up to INR 1,950 crores in the form of equity and compulsorily convertible preference shares […]
Murugappa Group’s Tube lnvestments of lndia (TII) said that its fully-owned subsidiary Tl Clean Mobility (TICMPL) has agreed to take full ownership of Cellestial E-Mobility, a Hyderabad-based manufacturer of electric tractors, in a deal worth INR 50.9 crores in cash. In this connection, Tl Clean Mobility has entered into a share purchase agreement with the […]
Wendt (India) Limited said that Lithoz GmbH, a provider of ceramic 3D printers and materials, has entered into a sales partnership with it to extend operations to the 3D printing market in the subcontinent. According to the Indian machine industry company, the partnership will enable the two firms to further grow and develop their business […]
Tube lnvestments of India said that its fully-owned subsidiary Tl Clean Mobility has agreed to acquire a stake of 65.2% in lPLTech Electric for up to INR 246 crores. Based in Gurgaon, lPLTech Electric is involved in the manufacturing and selling of electric heavy commercial vehicles. The company was formed in August 2019. The stake […]