BHEL said it is continuously assessing the prevailing conditions for taking the best possible steps, but a reasonable measure of the future impact will be possible only once the overall situation stabilises.
With strong demand for tractors continuing from rural markets, the company is optimistic that in spite of the supply-side constraints witnessed in the first quarter of this fiscal, it would be able to catch up in the remaining months to post better than industry sales, which is expected to rise by single digit.
The group had signed an agreement with the consortium of equity firms on the purchase of the elevator business in February 2020, as a restructuring strategy to reduce debt to the net cash position and improve the balance sheet ratios.
Spread over 3,600 sq mt at the ABB Nelamangala factory premises in Bengaluru, the new facility will enable ABB India to deliver robotic applications and digital solutions for a variety of Indian industries, including automotive, food and beverage, electronics and other upcoming sectors.
Images of migrant workers returning to their homes, some on foot, some by hitch-hiking and a large number through special ‘Shramik' trains and buses arranged by the central government in coordination with state governments have been imprinted on minds through mainstream and social media, Larsen & Toubro (L&T) Group Chairman A M Naik said in the report.
The project is to be completed in 48 months, it said. "This is our second order win in JV with Dilip Buildcon. We are proud to work together on this crucial project for Gujarat that will impact lives by providing water for irrigation, drinking and industrial purposes," HCC Group Chief Executive Arjun Dhawan said.
Although ABB already automated all manufacturing operations, this is its first project wherein it is bringing over 100 reactors on to a single connected platform to control a new manufacturing block, as per Jagan Buddharaju, Chief Operating Officer, Deccan Fine Chemical.
Sarma, who is currently the chief executive officer and managing director of the company’s hydrocarbon engineering arm will now also be responsible for the company’s power business as a senior executive vice president (energy). ET was first to report about the board level changes on July 7 and about Sarma heading the energy business.
As part of the Indian Railways' (IR) initiative to reach 100% electrification of its broad gauge lines by 2023, Hitachi ABB will be delivering the transformers to the Chittaranjan Locomotive Works in West Bengal, which is India's nodal electric locomotive manufacturing unit.
The global technology leader will enable a public electric locomotive manufacturer to advance the government's mission for 100 per cent railway electrification and a low carbon footprint, the company said. For this project, Hitachi ABB Power Grids India is delivering transformers split between the 6,531 kilo-volt-ampere (kVA) for CLW's goods locomotive engines and the 7,775 kVA for passenger.
It has won sand mining contracts from the Madhya Pradesh State Mining Corporation Limited for Rs 477 crore. Besides, a consortium led by Power Mech Projects Ltd has won an engineering procurement and construction order from NMDC for the turnkey job of the third screening and crushing plant of iron ore at Kirandul, Chhattisgarh.
L&T bagged the Rs 1,338-order to manufacture the cryostat in 2012 to manufacture the cryostat, the largest stainless-steel, high-vacuum pressure chamber in the world. The company has completed the manufacture of components at its unit in Hazira and will now assemble it in France.
The final assembly or top lid sectors of the cryostat, a key part of the world's largest nuclear fusion reactor being built in France, were dispatched on Tuesday from the company's Hazira manufacturing complex in Surat district in Gujarat.
In the wake of the nationwide lockdown to curb spreading of coronavirus infections, thousands of migrant labourers returned to their native places from different cities, including Mumbai. The city is also one of the worst hit by the coronavirus pandemic.