Auto component supplier Bosch is shutting its plant at Jaipur for two days till Tuesday in the wake of slowdown in the automobile industry. In a filing to the BSE, the company said: ?….with a view to adjust production to meet the demand for products and to avoid unnecessary build-up of inventory, the manufacturing operations at the company?s Jaipur Plant have been suspended on December 30 and 31.? The Jaipur plant is the the lead plant for VE pump, an injection pump used in diesel engines.
BHEL chairman to get two-year service extension
A panel of secretaries set up by the Prime Minister’s Office on Monday recommended granting two year post-retirement extension to power equipment-maker BHEL CMD B Prasada Rao. The move to give two-year extension to Rao, who was to superannuate on Tuesday, may open gates for several other PSUs heads like Sudhir Vasudeva of ONGC to get service term beyond 60 years.
Adani Power boardokays demerger of transmission biz
Adani Power?s board approved the demerger of its transmission lines business and has appointed Vinod Bhandawat as CFO of the generation company. ?Board of directors approved the demerger of the transmission line business of the company to its wholly-owned subsidiary company,? the company said.This demerger is subject to requisite approvals.
ZTE bags contract from Aircel to set up 4G network
Chinese telecom equipment maker ZTE bagged a contract from Aircel to set up the Indian company?s 4G network. ZTE will plan, design, supply and deploy the entire long-term evolution (LTE) ecosystem of the 4G network of Aircel. ?In the initial phase, we aim to offer our customers some of the highest data speeds in India ? in excess of 65 Mbps,? ZTE India CEO Xu Dejun said.
JSW arm promoter hikes stake in company to 4.74%
JSW Investments, a promoter group firm of JSW Steel, has increased stake in the company by 0.13% to 4.74 per cent for nearly R32 crore through open market transactions. JSW Investments had 4.61% stake, or 11,14,55,761 shares, in the steel maker before it started buying, the company said in a filing with BSE. On December 20, it bought 4,132 shares for R13.35 lakh, followed by another 12,000 shares for R1.18 crore on December 23. It again bought 1.35 lakh shares for R13.35 crore on December 24 and 1.69 lakh shares on December 26 for R16.93 crore.
