AgenciesThe company will also be setting up an assembly facility in the new Gujarat facility for supplying auto assemblies, Jay Bharat Maruti said.Jay Bharat Maruti on Thursday said it will invest in the range of Rs 300 crore to Rs 350 crore in a phased manner to set up two manufacturing plants in Haryana and Gujarat to cater to the requirements of its key customer Maruti Suzuki in both the regions. The plants will be commissioned at Kharkhoda, Sonipat in Haryana and SMG Suppliers’ Park in Gujarat, the company said in a statement. The new plant in Sonipat will provide capacity enhancement so as to meet the requirements of Maruti Suzuki’s new manufacturing plant at IMT Kharkhoda which is expected to be commissioned by FY2025, it added. The company will also be setting up an assembly facility in the new Gujarat facility for supplying auto assemblies, Jay Bharat Maruti said. Jay Bharat Maruti Ltd, a joint venture between JBM Group and Maruti Suzuki India, is the flagship com...

Getty Images Representational Photos NEW DELHI:Auto parts maker Steelelellel Strips Wheels on Thursday said it has received orders worth 20,000 US dollars (about Rs 156) million) from the US truck and RV trailer market. The company said in a regulatory filing that it has received orders for “export of more than 60,000 wheels to the US truck and caravan trailer market” to be executed for eight months at its Chennai plant. Steel Strips Wheels Ltd (SSWL) said that the order value is Rs. 20,90,000. He said that he expects other regular customers to receive similar orders from time to time as the market is normal. “This will support further increase in production at Chennai Steel Wheel Works,” he added. Earlier this week, Steel Strips Wheels received an order worth 130 about Rs 976,000 crore) to produce wheels worth 116 a million dollars for the US caravan trailer market. Last month, Steel Strips Wheels said revenues for the current fiscal year would exceed 32.5 bil...

DUBAI: A global ratings agency has said that crude oil prices could return to marginal costs in 2015, when annual crude oil supply will reach around $800 per barrel. Even at $80, key metrics will be weaker than previously expected, but the impact on credit ratings will depend on the ability and willingness of companies to respond by cutting capital expenditures, operating costs and dividends, or increasing production, Wheelock Ratings said. In a statement, Wheelock Ratings said, “Our approach to oil and gas companies is to evaluate them over the full cycle, and we are unlikely to take negative rating actions.” But that doesn’t mean the current price decline to around $600 won’t result in a rating downgrade. That’s because companies with negative outlooks include Total (AA), ENI (A ) and BG Energy Holdings (A-). Further underperformance is unlikely at current prices. “We will closely monitor the performance of Total and BG’s ability to increase ...