Rane Engine Valve is likely to cut down its Rs 230-cr investment plan for FY13 due to slowdown in the economy.
The company is likely to cut down its capex plan to half. The company has decided to put on hold all major expenses. It will slash medium and heavy commercial vehicle production. However, investments on specific customer commitments, new products (hydraulic cylinders and hydraulic steering for tractors) and testing equipment will continue.