The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતીमराठीবাংলাಕನ್ನಡമലയാളംதமிழ்తెలుగు
| 01 July, 2024, 11:10 PM IST | Today's ePaper
Monsoon Offer is Live
Search
+
Business News›Magazines›Panache›Panache People 101›Anurang Jain
    Anurang Jain

    Anurang Jain

    MD, Endurance Technologies
    Birth Details1962/63 | Aurangabad, Maharashtra
    NationalityIndian
    LeagueBusiness Leader
    EducationMBA, University of Pittsburgh
    Net Worth$1.8 billion (As of May 31, 2021)
    Anurang Jain's Assets:

    Anurang Jain's Journey so far ...
    • Anurang Jain completed his master’s degree in business administration from the University of Pittsburgh, and his first break came thanks to his uncle Rahul Bajaj in 1982, who advised him to open Bajaj Auto dealerships in Pune
    • It was during this time that the Bajaj patriarch suggested the idea of components business
    • In 1985, Jain and his twin brother Tarang started Anurang Engineering Company to manufacture aluminium die casting products in Waluj, Aurangabad
    • The facility was located near the Bajaj Auto plant and as a result, many components were outsourced to the company. The twins saw this as an opportunity and became a key vendor for the two-wheeler company
    • After 17 years, the brothers parted ways in 2012; Anurang set up Endurance Technologies and Tarang started Varroc Engineering
    • Publicly listed, Endurance is into the production of a diverse range of technology-driven automobile for the two-wheeler and three-wheeler industries
    • Under his leadership, the company diversified its portfolio and entered the business of suspension, transmission and braking. With these three proprietary lines, the company became a complete solutions provider
    • With over 35 years of experience in the automobile components industry, Anurang made a foray into Europe and set up plants close to new customers — Manesar for Honda and Chennai for Hyundai
    • In India, Endurance has 18 plants and exports products to 20 countries, directly and indirectly, including machined castings to Getrag in Mexico, the UK and France
    • Though Bajaj Auto is Endurance's largest customer; however, under Anurang a substantial part of the sales pie comes from Honda Motorcycle & Scooter (HMSI), Royal Enfield, Hero Motors, and Yamaha India
    • Anurang expanded operations into other geographies and currently has nine highly automated facilities in European Union (6 in Italy and 3 in Germany)
    • The EU plants manufacture components for passenger vehicles, light commercial vehicles and heavy commercial vehicles. German auto major Volkswagen Group is its largest client in Europe

    Before you go ...
    Last Updated: 31/05/2021

    Anurang Jain News

    • “NTPC stock has seen a consolidation phase in the last few weeks. However, the prices have managed to find support above its 100-Days EMA. Traders can buy for a target of Rs 400-415 in the next few weeks,” Ruchit Jain, Lead Research, 5paisa.com, said.Stock Radar | Why NTPC could hit fresh record highs in next few weeks
    • Stand-up comedian Daniel Fernandes' show in Hyderabad was canceled following a threat from BJP leader Raja Singh over jokes about the Jain community. Despite apologizing and removing the offending video, Fernandes continues to receive threats. He emphasized the importance of comedy in bringing people together and condemned the violence.
    • Vivek Jain, Head of Investments, Policybazaar.com says that in retirement planning, it's vital to consider both market-linked and guaranteed pension plans, allocating funds based on age and risk tolerance. Including a spouse in joint life coverage and leaving a legacy for nominees are key aspects of securing a stable financial future.
    • Doda (J&K): Security forces’ encounter with terrorists took place in Doda’s Gandoh on June 26. Additional Director General of Police of Jammu Anand Jain said that three terrorists have been neutralised in this encounter. He further told ANI that two M-4s and one AK-47 rifle have been recovered. He said, "Three terrorists have been neutralised in this encounter and arms and ammunition have been recovered from them. A search operation is going on in the area. We launched a search operation as soon as we received information of the presence of terrorists. Two M-4s and one AK-47 rifle have been recovered."Gandoh Encounter: '3 terrorists neutralized, arms recovered', says Jammu’s ADGP Anand Jain
    • This investment scheme focuses on Tri Party Repo agreements involving Government securities or treasury bills. Its goal is to mirror the performance of the NIFTY 1D Rate Index, aiming to achieve similar returns while minimizing any tracking discrepancies.
    • To be set up at an investment of Rs 2,000 crore, the electric scooter maker’s new plant will produce up to one million vehicles and battery packs per year.
    • This will be Ather's third manufacturing plant. The plant will produce up to one million units of vehicles and battery packs annually and create around 4,000 jobs, deputy Chief Minister Devendra Fadnavis said.
    • Delhi Chief Minister Arvind Kejriwal was arrested by the CBI in connection with the Delhi excise policy case, following permission granted by the Rouse Avenue Court. He was brought before Special Judge Amitabh Rawat for formal procedures. The arrest comes after earlier questioning at Tihar Jail and precedes the CBI's move to seek custody from a Delhi court. The Delhi High Court, on a vacation bench led by Justice Sudhir Kumar Jain, criticized a trial court's bail order as hasty, halting its implementation pending further review under Section 439(2) of the CrPC.
    • Staying the lower court order, Justice Jain referred to an order passed by a coordinate bench of the Delhi HC in April wherein it had ruled out any mala fide on the part of the ED in arresting Kejriwal. The lower court judge, "after following the judicial discipline, should not have observed" in her order "that there was mala fide on the part of ED particularly in light of observation made" by the coordinate bench, it said.
    • The Supreme Court urged the Delhi High Court to promptly decide the bail plea of former AAP minister Satyendar Jain in a money laundering case, emphasising that bail matters should not be needlessly adjourned. An observation made by Justices Manoj Misra and SVN Bhatti as they disposed of Jain's plea against a six-week adjournment, with the high court scheduled to hear the case on July 9.
    • The premiere caps a busy year for Jain - former co-chief investment officer at Millennium Management - who has travelled the world pitching his fund. He initially aimed to gather as much as $10 billion. But after struggling to hit that goal, he cut client fees to entice investors and reduced his target to between $5 billion and $6 billion.
    • Justice Ashok Kumar Jain of the high court issued the notices to the NTA and the central government and sought their response. The court considered the matter to be serious and scheduled the hearing on July 10, counsel for petitioners Rampratap Saini said.
    • The GST on petrol and diesel and all the passenger fuels will take a lot of time. GST on ATF and natural gas could come in hopefully soon, but for other petroleum products like petrol and diesel and other passenger fuels, where a lot of revenue is involved, it will take some time, says Pratik Jain, Partner, PwC India
    • The smartphone market in the June quarter is likely to be tepid due to the impact of elections, heatwaves, and floods, leading some market experts to lower their growth outlook for 2024 smartphone shipments. Analysts expect a slowdown in Q2 shipments compared to Q1 due to fewer launches and adverse weather conditions. Counterpoint Research forecasts a 3-5% decline in Q2 shipments, with a revised annual forecast of 152 million units, reflecting a 3% year-on-year growth, down from the initial 5% growth prediction.
    • Rahul Jain of Dolat Capital says that the guidance for the current fiscal has been very weak in the case of the IT companies that give explicit numbers, be it Infosys or HCL Tech. And if they do not surprise positively during the earnings season, all the momentum can gradually fizzle out.
    • The Enforcement Directorate (ED) has arrested Mahesh Mittal, proprietor of Shree Ganpati Tubewell Company, and Padamchand Jain, proprietor of Shree Shyam Tubewell Company, in connection with a money laundering investigation into alleged irregularities in the Jal Jeevan Mission scheme in Rajasthan. The scheme aims to provide safe drinking water through household tap connections.
    • “Indian Hotels stock has gone through a consolidation phase in last couple of months which just seemed to be a time-wise correction within an uptrend. Traders can buy for a target of Rs 650-670 in the next 3-4 weeks,” says Ruchit Jain, Lead Research, 5paisa.com.Stock Radar | Time to buy? Indian Hotels on the cusp of range breakout: Ruchit Jain
    • Private equity firm BPEA Credit closed the first round of its latest rupee fund, SSTIF-I, targeting ₹750 crore with a green shoe option. Kanchan Jain leads the fund with a unique yield profile for 10-12 investments in various sectors.
    • The Jain community in Delhi recently came together to prevent the sacrifice of goats during the Bakri Eid festival. Led by Vivek Jain, a chartered accountant, the community raised over Rs 1.5 million to purchase 124 goats and ensure their safety.
    • While other businesses are operating fine, this business, how it runs down is something that we will see by the end of the quarter to anticipate what is going to see on the P&L.
    • A fire broke out at a garments factory in east Delhi's Gandhi Nagar area on Tuesday morning. Fortunately, no casualties have been reported. The Delhi Fire Service was informed at 9.55 am, and five fire tenders were deployed to extinguish the blaze in the two-storey factory. However, the narrow lanes and hanging wires in the area made it challenging for the fire tenders to reach the spot quickly. The dousing operation is still ongoing.
    • India, the world's largest feature film industry, has a strong independent, especially documentary filmmaking scene. While some films, like Payal Kapadia's All We Imagine as Light and Nishtha Jain's Farming the Revolution, have won awards, the country has stopped supporting such cinema.
    • CleanMax Enviro Energy Solutions, backed by Brookfield Renewable, aims to increase operational capacity to over 3,000 MW by June 2026. The company has expanded to 8 states in India, with significant growth in commercial and industrial segments.
    • Ather Energy reportedly planning to invest about Rs 1,000 crore in the plant. Spanning across 100 acres in phases, the plant will be situated in Bidkin town within Aurangabad. Ather's existing assembly and battery plants are currently located in Hosur, Tamil Nadu.
    • “Cement stocks have witnessed a positive momentum and Dalmia Bharat stock is on the verge of a breakout from a falling channel. Traders can buy for a target of Rs 2100 in the next 1-2 months,” says Ruchit Jain, Lead Research, 5paisa.com.Stock Radar | Time to buy? Dalmia Bharat is on verge of a breakout from a falling channel: Ruchit Jain
    • Load more
    DisclaimerThe content of this page has been aggregated from multiple websites. Some information can change over the passage of time.
    The Economic Times
    BACK TO TOP