Manufacturing Financial News

Andhra Pradesh Minister Nara Lokesh has said that there are ample opportunities for investments in manufacturing, renewable energy, bio energy, aqua and petrochemical sectors in the state. Lokesh, who is currently touring the USA to participate in the ITServe Alliance Synergy Conference to be held in LAs Vegas on October 29, met some industrialists in San Francisco on Friday. In a post on 'X', Lokesh further said the government is moving forward with the 4P policy (Public-Private-People-Partnership) and will have goals to be achieved for every 100 days of rule for the comprehensive development of the state.

Despite a number of smallcap stocks seeing double-digit correction from peaks in the last few days, there are many pockets in the segment which remain in bubble zone, says Mayur Patel, President and Fund Manager, Listed Equity at 360 ONE Asset. «Elevated risks persist among smallcaps that have rallied mainly on narratives, lacking the support of earnings growth. Many of these stocks, still in a bubble zone, are yet to experience deep corrections. However, there are pockets in the smallcap space with decent risk-reward. We continue to clinically assess risk-reward in our smallcap positions and actively book profits where valuations have exceeded fundamentals,» he says.

Waaree Energies next week, given the shares are commanding a hefty premium in the grey market. Waaree Energies shares are trading with a GMP of Rs 1350 in the grey market and considering the upper price band, the stock is expected to list with a premium of 90%.

Subscribe to enjoy similar stories. Boeing, a pioneer of the jet age and one of the most strategically crucial companies to American economic success, has lost its way. Getting back on track will require a daunting campaign to win back the trust of travelers, airlines, regulators, investors and its own employees.

Mexico to take off as a manufacturing mecca. US-China tensions have opened the door for an export surge. Companies are lining up for power permits in once-barren areas. Bidding wars are breaking out for industrial space. The country, however, is still waiting for a cascade of foreign investment to bolster its economy. Even as Mexico surpassed China to become the top exporter of goods to the US last year, the country’s economic growth is slowing — and the promise of so-called nearshoring has yet to be fully fulfilled. Some of that stems from companies awaiting the outcome of the presidential election to the north and its effect on trade policy. But it also reflects long-running challenges that have held back the Latin American nation from becoming a bigger force, from electricity shortages to political turbulence.

Spirit Airlines is cutting jobs and selling off some jets worth millions of dollars as the budget carrier aims to cut costs amid looming financial struggles and an uncertain future

For the first time under President Joe Biden, a federal permit for a new lithium mine in the U.S. has been approved

Subscribe to enjoy similar stories. The transport ministry has written to Ola Electric seeking an explanation for alleged quality issues reported by customers about the company’s electric scooters. The 11 October letter directs the EV manufacturer to provide details on affected models, the number of units sold, and the steps being taken to address mounting customer complaints.

Nirma detergent. Karsanbhai Patel, an Indian billionaire businessman hailing from Gujarat, founded Nirma. Patel was born in Gujarat's Ruppur in 1945 in a financially constrained family but his spirit driven by determination and the relentless pursuit of excellence, helped him carve a niche foe himself in business.

Subscribe to enjoy similar stories. When it comes to electric vehicles (EVs), both investors and the media tend to focus on the makers of these vehicles. However, the other players in the EV ecosystem can often be the game changers.

Subscribe to enjoy similar stories. When Janet Yellen traveled to Beijing earlier this year, there was one person in particular she wanted to talk to: He Lifeng, one of the men holding the keys to the Chinese economy.

Subscribe to enjoy similar stories. Many quick- and e-commerce firms have reportedly received notices from the Central Consumer Protection Authority (CCPA) for allegedly violating mandatory declaration rules of the Legal Metrology Act. Mint explains the law and how the CCPA protects consumers.

Subscribe to enjoy similar stories. Qatar's Nebras Power’s plan to acquire up to 49% stake in Aditya Birla Group’s renewable energy business for around $400 million has been put on hold due to “valuation mismatch", according to two people aware of the development.

BEIJING — Chinese smartphone company Oppo is doubling down on artificial intelligence as it holds weekly talks about AI with senior management at Google and Microsoft in the run-up to the launch of its flagship phone overseas.

Subscribe to enjoy similar stories. Eighty years ago world leaders meeting in Bretton Woods, N.H., created the International Monetary Fund to prevent the sorts of economic imbalances that had brought on the Great Depression. Today, imbalances once again threaten global harmony.

Subscribe to enjoy similar stories. The Indian stock market recently witnessed a landmark event – the successful completion of Hyundai Motor India’s ₹27,870-crore initial public offering, the country’s biggest IPO to date. The last time a car maker went public was in June 2003, when Maruti Suzuki launched its ₹990-crore IPO.

Reliance and Nvidia, a leading US-based company in Artificial Intelligence computing has announced a joint attempt in building AI infrastructure in India. The announcement was made by CEO Jensen Huang during a chat session with Mukesh Ambani at the Nvidia AI Summit 2024 on Thursday. The summit was being hosted by Nvidia, one of the world's leading tech companies for the first time in India. «It makes complete sense that India should manufacture its own AI. You should not export data to import intelligence. India should not export flour to import bread,» said Jensen Huang while in conversation with the Reliance Chairperson.

Ashok Leyland on Thursday announced that its electric mobility arm OHM Global Mobility has bagged an order for 500 12-m ultra-low floor electric buses from the Metropolitan Transport Corporation (MTC), Chennai. Further, another subsidiary of the commercial vehicle manufacturer, Switch Mobility, will supply EiV12 model buses to OHM, who in turn shall operate and maintain the buses over a period of 12 years, as per the contract awarded by MTC. This announcement comes days after the Hinduja Group's flagship company began delivery of electric trucks to Chennai-based Billion Electric Mobility (Member of Group BillionE), marking the company's growing focus on electric mobility. Ashok Leyland had bagged a contract to supply 180 electric trucks to Group BillionE which would be operated in the Chennai-Bengaluru, Chennai-Vijayawada routes.

Click here to register for the awards. With that thought, the Economictimes.com is back with ET MSME Awards 2024. This will be the fifth edition of the series. The winners of the ET MSME Awards will be announced at the Grand Finale in New Delhi in February 2025. This awards will honour the exceptional MSMEs in the country who are at the top of their game. Twenty-two exemplary MSMES, belonging to both manufacturing and services, will be felicitated and recognised for their business acumen and contribution to the Indian economy. With a goal of fostering a thriving entrepreneurial ecosystem and celebrating the resilience, innovation and achievements of the enterprises, ET invites MSMEs from across India to submit their applications and compete for this prestigious recognition.

Nvidia CEO Jensen Huang said on Wednesday a design flaw with its latest Blackwell AI chips which impacted production has been fixed with the help of longtime Taiwanese manufacturing partner TSMC. Nvidia unveiled Blackwell chips in March and had earlier said they would ship in the second quarter but were delayed, potentially affecting customers such as Meta Platforms, Alphabet's, Google and Microsoft. «We had a design flaw in Blackwell,» Huang said. «It was functional, but the design flaw caused the yield to be low. It was 100% Nvidia's fault.»

Waaree Energies IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.