Craftsman Automation to Invest Rs 1.5 Billion in New Hosur Facility

31 Jan 2025 CW Team

Craftsman Automation Ltd, a prominent manufacturer of automotive and industrial components, has announced plans to set up a new factory at SIPCOT Industrial Park, Shoolagiri, Hosur, with an investment of approximately Rs 1.5 billion. The board approved the project to increase its aluminium product capacity in southern India, a region home to major two-wheeler and passenger car OEMs (Original Equipment Manufacturers). With current facilities operating at nearly full capacity, the company aims to meet growing demand by expanding its manufacturing infrastructure. The new facility is expected to boost production capacity by 15% within the next 9 to 12 months. Presently, the company’s plants are operating at about 75% utilisation. The new unit will enhance production efficiency while staying within 100-150 km of major OEMs. The Rs 1.5 billion investment will be largely financed through term loans (90%), with the balance funded from internal accruals, the company informed the stock exchanges. (Business Line)

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..