Latest news with #ShineJacobChennai
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Business Standard
17 hours ago
- Business
- Business Standard
Tractor war: TAFE, AGCO likely to seal an out-of-court settlement soon
With TAFE giving up its board seat in AGCO and both firms in advanced talks, the row over the Massey Ferguson brand in India may be resolved without a legal battle Shine Jacob Chennai Listen to This Article The battle between tractor giants Tractors and Farm Equipment Ltd (TAFE) and the US-based AGCO over the ownership of the Massey Ferguson brand in India is likely to be resolved through an out-of-court settlement soon. Multiple sources indicate that both parties are close to sealing a deal, and it is expected within a month. As part of the settlement, TAFE — which already holds a 16 per cent stake in AGCO — has given up its directorship in the company. TAFE promoter Mallika Srinivasan previously served on AGCO's board. AGCO did not respond to questions from Business Standard, while Chennai-based
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Business Standard
2 days ago
- Business
- Business Standard
Midwest set to lead India's rare earth magnet charge from December
Hyderabad-based MAM to start 500-tonne annual rare earth magnet output by December and invest ₹1,000 crore in three years to scale capacity and secure raw material premium Shine Jacob Chennai Listen to This Article India's solution to the ongoing crisis on rare earth magnets may well be on track, as Hyderabad-based Midwest Advanced Materials (MAM) is all set to produce the country's first rare earth magnets by December from its 500-tonne-per-annum facility in Hyderabad, a top company executive told Business Standard on Sunday. The Kollareddy-family-owned company is also mulling investments to the tune of ₹1,000 crore over a period of three years to expand its capacity to around 5,000 tonnes per annum, in addition to backward integration. Midwest Ltd (a sister concern of MAM) has secured mines containing monazite (feedstock for rare earths) strategically
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Business Standard
4 days ago
- Business
- Business Standard
How Sri City's Ravindra Sannareddy turned scrubland into an industrial hub
Lunch with BS: Sri City has now grown to employ over 65,000 people. Sannareddy dream is to take it past 100,000 by its 25th year Shine Jacob Chennai Listen to This Article It almost feels like Chennai has quietly extended its industrial embrace across the Andhra Pradesh border to Sri City. The 55-km drive to this manufacturing hub, in the Tirupati district, is lined with warehouses and factory sheds, their insignia ranging from global conglomerates to rising Indian giants — all strategically leveraging their proximity to Chennai Port. The four-lane highway buzzes with container traffic, its rhythm set by South India's manufacturing metronome. At the end of it all, nestled among dry scrubland and slow-growing trees, is Sri City — a dream built on stubborn optimism, spiritual roots, and strategic foresight, one
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Business Standard
25-05-2025
- Business
- Business Standard
States' race for space investment may help sector hit $44 bn by 2033
This follows the opening up of space to private participation in June 2020, the Indian Space Policy of 2023, and a lucrative foreign direct investment policy of February 2024 Shine Jacob Chennai Listen to This Article Space in the new frontier for states in the one-upmanship game to draw investment. On April 17, Gujarat announced a long-term strategy to accelerate growth in the space sector from 2025 to 2030. Within hours, Tamil Nadu, which had already published a draft space policy, unveiled the Tamil Nadu Space Industrial Policy. There is a reason states are betting big on space and space-related technology. The size of India's space sector is expected to jump from around $8.4 billion in 2024 to $44 billion by 2033, according to a March report by the Federation of Indian Chambers of Commerce and
