Manufacturing Financial News

Subscribe to enjoy similar stories. Mumbai: Prices of steel rebars, a key component for construction, have seen a rise in recent months and can see upward movement in the coming weeks as building activity picks post monsoon, experts said, raising margin concerns for real estate and infrastructure firms. The price increases are partly due to a supply shortage amid a production slump at state-owned Rashtriya Ispat Nigam Ltd (RINL), a major manufacturer of long steel, which is used to make rebars.

Subscribe to enjoy similar stories. New Delhi: Despite the recent easing of tension between New Delhi and Beijing, the ghost of the 2020 Galwan clash is likely to hover for a while, as the implications of the border disengagement between the two countries is likely to unravel only slowly.

Subscribe to enjoy similar stories. Boeing is debt-ridden, mistrusted and mistake-prone, but also capable of turning itself around. That is the assessment of Chief Executive Officer Kelly Ortberg, who took over the beleaguered jet maker in August.

Contract research and manufacturing services firm Syngene International on Wednesday reported a 9 per cent on-year decline in consolidated profit after tax to Rs 106 crore in the second quarter of FY25. The company reported a profit after tax (PAT) of Rs 117 crore in the July-September quarter of last fiscal. Revenue from operations declined to Rs 891 crore in the September quarter compared with Rs 910 crore in the year-ago period, Syngene International said in a statement.

Subscribe to enjoy similar stories. Foreign investors are pulling their money out of India. While that may not be surprising, the question is which global markets are catching the attention of foreign portfolio investors (FPIs) now? The short answer: Apart from China, it was South Korea, Japan and Indonesia.

Chinese smartphone maker Xiaomi Corp is expected to complete the construction of an expansion of its electric vehicle factory in mid-2025, according to government-backed Chinese media on Wednesday The second phase of the Xiaomi Intelligent Manufacturing Industrial Base is scheduled to be completed on June 15, according to a report by the National Business Daily citing a person familiar with the project. The report added that workers were working overtime to complete the project, which is adjacent to the first-phase factory located in Beijing's Yizhuang New Town, an economic development area in which many high-tech firms have set up shop.

SIG Combibloc wants to make a difference. Last year, the Swiss firm — with a India clientele of brands like Amul, KMF, MilkyMist, Heritage Dairy, Coca-Cola, Parle Agro — began constructing its 10th global aseptic packaging plant in Ahmedabad, which will create over 300 jobs. In a conversation with ET Digital, Samuel Sigrist, CEO, SIG Group, talks about aseptic packaging technology and how India is the right market for it. Edited excepts: Economic Times (ET): What kind of potential is SIG looking to cater to in India when it comes to sustainable dairy packaging or sustainable packaging? Samuel Sigrist (SS): This is an amazing starting point, because in some markets in Asia, we first need to teach people to like milk. But that is not the challenge here. So the problem statement here starts with an opportunity statement. It is the largest milk market in the world and less than 10% is processed and packaged; and even a smaller part is in the safest form in the aseptic beverage carton. Now that just shows you the upside that we see. What drives this upside is not just the population growth, but also rising disposable income growth, a growing middle class and urbanisation.

electronics manufacturing industry is hopeful the de-escalation of border tensions between India and China may speed up pending technology transfers, planned investments from Chinese companies and movement of capital goods. Some executives though said despite a thaw in the tensions, Chinese companies will remain cautious about investing in and sending executives to India, which would need to address the existing trust deficit. «We hope this will help the Indian industry in working with reliable Chinese companies without compromising our national security interests to develop a supply chain and other capabilities in India in the electronics sector and also grow trust between the two countries for their mutual benefit,» said A Gururaj, managing director, Optiemus Electronics.

A recall of hundreds of frozen waffles and other toaster foods has been expanded

Reliance Infrastructure on Tuesday said it will set up the largest integrated project for manufacturing of explosives, ammunition and small arms in Ratnagiri, Maharashtra at an investment over Rs 10,000 crore in the project over the next 10 years. Reliance Infrastructure through its subsidiaries has exported defence equipment worth more than Rs 1,000 crore over a period of time, it added. «The company has been allotted 1000 acres of Land in Watad Industrial Area of Ratnagiri, Maharashtra to develop Dhirubhai Ambani Defence City (DADC). DADC will be the largest GREENFIELD project in the Defence Sector in India by any private sector company,» the company said in a statement.

Subscribe to enjoy similar stories. Thiruvananthapuram/Chennai: After decades of planning and years of delay, the Vizhinjam International Transhipment Deepwater Multipurpose Seaport, India’s deepest natural port and its only container transshipment hub, located 25 kilometres from Kerala’s capital Thiruvananthapuram, is ready for operation. Developed by Adani Ports and Logistics, the port’s trial run began in July this year.

Reliance Infrastructure on Tuesday announced the setting up of the largest Integrated project for Manufacturing of Explosives, Ammunition and Small Arms in Ratnagiri, Maharashtra. The company has been allotted 1000 acres of Land in Watad Industrial Area of Ratnagiri, Maharashtra to develop Dhirubhai Ambani Defence City (DADC). DADC will be the largest Greenfield project in the Defence Sector in India by any Private Sector company, Reliance said in a statement.

West Bengal has immense growth potential in the carbon black industry as the sector is expected to witness increasing demand from the electric vehicle (EV) market and battery manufacturing, an official said on Tuesday. Speaking at the Asia Pacific Carbon Black Conference, state Chief Secretary Manoj Pant highlighted the projected compound annual growth rate (CAGR) of 4.8 per cent for the sector over the next decade and invited industrialists to invest in the state's emerging industrial landscape. «There is tremendous potential for growth in this industry, particularly as EV demand rises and carbon black becomes integral to both tyres and battery components,» Pant said. He reaffirmed the government's commitment to fostering industrial growth and attracting investments while emphasising ongoing efforts to improve infrastructure and streamline policies to create a business-friendly environment.

As part of a sweeping swathe of reforms spearheaded by the group's new CEO Georges Elhedery, HSBC will operate through four business divisions with clear lines of responsibility, one is which will be the international wealth and premier banking division.  The business will bring together its premier banking-focussed businesses outside of Hong Kong and the UK, its global private bank, and wealth manufacturing businesses, asset management and insurance, the lender said in a stock exchange notice today (22 October). These changes are set to come into effect from 1 January 2025. HSBC w...

US-China trade war have fallen short, according to a new study, with other Asian rivals benefiting to a much greater extent from escalating tensions between the world’s biggest economies. Between 2017 and 2023, India’s total share in US imports rose by 0.6 percentage points to 2.7% while mainland China’s portion dropped by around 8 percentage points to under 14%, according to Oxford Economics. The biggest beneficiary from the trade diversion in the region has been Vietnam, whose total share in US imports grew by 1.7 percentage points to 3.7% in the period. Taiwan and South Korea have also made greater strides than India, increasing their share of US imports by 1 percentage point and 0.7 percentage points, respectively, according to Oxford.

Subscribe to enjoy similar stories. A few years ago, retailers had protested the ways of private online platforms. Small shops claimed to be victims of a power imbalance, one that India’s 2022-launched ONDC was expected to help redress.

Bed Bath & Beyond CEO Jonathan Johnson explains why Overstock.com rebranded as the iconic retailer and how it plans to navigate the current economic climate.

Subscribe to enjoy similar stories. The youngest son of late Playboy founder Hugh Hefner wants to buy back his father’s storied franchise. Cooper Hefner submitted an offer Monday along with a group of investors to buy the Playboy brand from Playboy Group for $100 million, according to Hefner and a deal proposal viewed by The Wall Street Journal.

Precision engineering and manufacturing company Balu Forge Industries on Monday reported a 107% year-on-year jump in its consolidated net profit for the quarter ended September 30, 2024 at Rs 48 crore which was up from Rs 23 crore reported by the company in the year ago period. The company in which ace investor Ashish Kacholia has a 1.82% stake, reported a revenue growth of 60% YoY at Rs 223 crore in Q2FY25 compared to Rs 139 crore in Q2FY24 because of the constant focus on client addition and continued demand for the specialized engineering products.

«UltraTech’s ambitious capacity expansion capitalises on the substantial long term growth potential of India’s cement sector. Its growth trajectory aligns closely with India’s broader growth story. By increasing its scale, the Company will meet the rising demand for cement nationwide,» said the press release by the Aditya Birla-owned entity. Moreover, to meet India's growing demand for cement, UltraTech plans to exceed its total capacity by 200 MTPA by FY27 through the acquisitions of Kesoram Cement (10.75 MTPA) and The India Cements (14.45 MTPA). This expanded manufacturing footprint is expected to help the Birla cement firm reduce operational costs, and improve customer service by leveraging the company’s nation-wide presence and its distribution network, UltraTech further said in the exchange filing.

Subscribe to enjoy similar stories. Investing and trading in financial markets isn’t about physical strength—there are no prizes for running faster, punching harder, or lifting heavier. Success in this arena demands mental agility.