India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Steel Strips Wheels Ltd (SSWL) would invest ₹138 crore in AMW Autocomponent Ltd as part of their insolvency resolution strategy. According to a regulatory filing, the firm's board decided after the National Company Law Tribunal's (NCLT) Ahmedabad Bench approved the resolution plan for AMW Autocomponent.
"SSWL shall infuse ₹138.15 crore into AMW Autocomponent Limited(AACL) through a mix of equity and debt as per the resolution plan approved by NCLT Ahmedabad," it stated.
The funds will be used to satisfy AACL's financial creditors, operational creditors, employees, and other creditors, as well as to discharge SSWL's obligations under the authorised resolution plan, according to the statement.
SSWL designs and manufactures automotive wheels in both steel and alloy categories.
Also Read : India's steel imports hit 5-year high on buoyant domestic demand in April-May Indian steel industry may benefit from lowest iron ore prices since August
According to data released by the World Steel Association (Worldsteel), global direct reduced iron (...
Ferrous 26-Apr-2024
India’s state-owned Bharat Heavy Electricals reported a third-quarter loss on Tuesday, as high...
Mid Corporate 13-Feb-2024
In the latest financial quarter, Jindal Stainless experienced a 6% quarter-over-quarter decline in v...
Large Corporate 20-Jan-2024
LMEL’s Q4 FY2024-25 net profit dropped by 27%. Revenue saw a significant increase due to high...
Business 29-Apr-2025
Aether Industries plans to become more sustainable by commissioning a 15 MW solar power project (Aut...
Mid Corporate 07-Feb-2024
Iron ore futures took a hit as rising shipments and new steel levies in China weighed on market sent...
China 25-Feb-2025