Page 2 - Engineering Firms

Infosys to acquire German firm in-tech in 450 mn euro all-cash deal

Infosys will acquire a 100% stake in the German engineering R&D services provider, expanding its footprint in Europe

Tech industry growth projected to halve to 3.8% in FY24 compared to FY23

Industry expected to generate additional $9.3 billion in revenue, spanning across IT services, business process management engineering services: Nasscom

TCS has one of world largest AI-ready workforce: CEO Krithivasan

IT company has trained 300,000 employees in basic foundational AI skills

Boeing, AIESL to jointly boost aircraft maintenance training activities

Aircraft maker Boeing and AI Engineering Services Ltd (AIESL) will collaborate to enhance aircraft training activities in India. As part of the collaboration, Boeing will provide training materials, aids, and instructor support to help ensure the standardisation of AIESL training programmes. "AIESL will provide infrastructure and instructors, while securing Civil Aviation Regulation (CAR)147 approval from the Indian regulatory authority to conduct maintenance training for customers," Boeing said in a release on Tuesday. According to Boeing's 2023 Pilot and Technician Outlook, the country will require almost 33,000 pilots and 34,000 maintenance technicians through 2042. AIESL CEO Sharad Agarwal said the tie up with Boeing will go a long way in supporting industry requirements. "AIESL would be able to support training requirements for at least 100 engineers each year going forward," he added. In the release, Civil Aviation Secretary Vumlunmang Vualnam said the collaboration between

Kilburn Engineering acquires turnkey solutions provider M E Energy

The acquisition, effective February 20, 2024, was made for an aggregate consideration of Rs 98.70 crore

Patel Eng Q3 results: Profit grows to Rs 70 cr, total income at Rs 1,076 cr

Patel Engineering Ltd (PEL) has reported a multi-fold jump in its consolidated net profit to Rs 70.2 crore during the quarter ended December 2023, supported by higher income. It had clocked a net profit of Rs 19.4 crore during the October-December period of preceding 2022-23 financial year, the company said in an exchange filing. The company's total income rose to Rs 1,076.1 crore from Rs 980.6 crore a year ago. Expenses stood at Rs 1,030.9 in the reporting quarter as against Rs 940.5 crore in the third quarter of last fiscal. In a separate statement, the company's CMD Rupen Patel said, "Our adaptability and resilience are evident in our increased turnover of Rs 3,200 crore in the nine-month period, marking a 19.17 per cent growth as against the corresponding period in the last year." The company is expected to sustain an upward trajectory through various projects and joint ventures, he said. Kavita Shirvaikar, whole-time director & CFO said, "With a focus on prudent financial ..

Rs 8.45 trillion & rising: Orders flood major capital goods firms

"This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector

GCCs to lease 62 million sq. ft. in India by 2025: CBRE Asia report

By 2025, it is estimated that there will be about 1,900 total operational GCCs in the country, up from the existing 1,580

India's share to Global ER&D sourcing to rise to 22% by 2030: Report

Worldwide, ER&D spending is likely to grow at a rate of 8-9 per cent CAGR from 2023 to 2030 due to stability in the market

Hyderabad-based Megha Engineering gets $648 mn contract in Mongolia

Upon completion, the refinery is expected to process 1.5 million metric tons of crude oil annually, catering to Mongolia's domestic demand for gasoline, diesel, aviation fuel, and LPG

Larsen & Toubro snaps up nearly $4 billion order from Saudi Aramco

Engineering firm's shares hit new high

Siemens India arm's profit jumps 39% on strong order book

Siemens Ltd, the Indian arm of German engineering company Siemens AG, reported a near-39% rise in quarterly profit, helped by a boost in infrastructure spending in the country

Kalyani Forge's CFO Laxmi Narayan Patra resigns due to personal reasons

Forging company Kalyani Forge on Friday said its Chief Financial Officer (CFO) Laxmi Narayan Patra has resigned. His resignation is effective from April 6, 2023. "CFO Laxmi Narayan Patra has tendered his resignation due to personal reasons," the company said in a regulatory filing. Kalyani Forge is an engineering company with an expertise in metal forming. It makes forged, machined and assembled products for customers in industries like automotive, construction, power generation, marine, railway, and industrial goods.

Siemens scaling new heights on strong performance, govt's infra thrust

Decent upside in the stock given that most analysts are positive with target prices ranging Rs 3,250-3,800

E&C sector on solid ground; FY24 likely to see outperformance

Despite outperformance, sector stocks have a potential upside of 15-25% in the next 12 months

We see strong double-digit topline growth in FY23: Tata Projects MD

Vinayak Pai, who took over as the top man in the firm this July, dwells on the existing and prospective projects, and the future roadmap of the company

BEML's demerged non-core businesses entity's listing in one month

The BEML's demerged non-core businesses entity, BEM Land Assets Ltd, is expected to be listed in the next one month, a step toward divestment of the engineering major. The government seeks strategic divestment of 26 per cent post BEML demerger process of non-core assets. "Listing of demerged land company will be in a month's time. The valuation process is on. After listing, disinvestment process will be started," BEML chairman and managing director Amit Banerjee said. He was speaking on the sidelines of CII-organized Global Mining Summit 2022. He told PTI that the main assets of the demerged entity will be some total 550 acre of prime land in Bangalore and Mysore. The existing BEML shareholders have been given shares in the new demerged entity in a 1:1 ratio. State-owned BEML was focusing on defence and the metro railway business. Banerjee also mentioned that BEML, which currently has a 90 per cent localisation rate for defense trucks, in light of the government's outlook on mak

Harsha Engineers soars 47% on debut after strong demand for shares in IPO

At the last close, the company was valued at Rs 4,424 crore

Harsha Engineers makes strong debut, lists at 36% premium to issue price

Post listing, the stock moved 45 per cent higher to Rs 480 on the NSE and BSE, as against its issue price of Rs 330 per share.

Siemens hits new high on record order book, market-cap crosses Rs 1 trn

The company not experiencing a slowing down in public and private capex spending; however, concerned about global headwinds impacting demand which could result in a slowdown in Capex spending.