Manufacturing Financial News

Hyundai Motor India, the subsidiary of Korean auto major Hyundai, has submitted the pre-feasibility report to take up revamping and modernisation of its facility in Tamil Nadu at an outlay of Rs 1,500 crore. The expansion at the existing facility at Irungattukottai near here would create an additional 155 new jobs and the plant size would be increased to 7.21 lakh sq metre from the current 5.40 lakh sq metre. Hyundai Motor India has planned to expand the factory by adding additional 1.81 lakh sq metres of land at the factory. According to the company, it has proposed to take up revamping and modernisation of its existing manufacturing facility at Irungattukottai, Kancheepuram district in Tamil Nadu,

Nikkei share average closed lower on Thursday, as chip stocks slid despite industry star TSMC reporting better-than-expected earnings, while investors waited for more earnings results from domestic and overseas firms for further direction. The Nikkei fell 0.7% to a one-week closing low of 38,911.19, while the broader Topix finished 0.1% lower at 2,687.83.

Haldiram Snacks Food Pvt Ltd, the 87-year-old legacy brand which is India’s largest snack and convenience foods company. Earlier, it was reported that Haldiram’s promoters were planning to sell a controlling 51 per cent stake, but now a new report says they are looking to offload 10-15 per cent minority stake. Many global investors have been vying to buy a stake in the cash-rich and profitable company which has a long legacy of manufacturing the iconic Indian savoury snack, Bikaneri bhujia.

Maruti Suzuki India Limited has reached a significant milestone, with the Manesar facility crossing the 1 crore cumulative production mark. According to Maruti Suzuki, the vehicle to roll out from the plant was the popular compact SUV, Brezza, underscoring the automaker's growing presence in the SUV segment. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone.

Chinese Communist Party (SCCCP) have urged the U.S. Secretary of Commerce Gina Raimondo to take immediate action against Huawei's rapid development of semiconductor fabrication facilities. They expressed concern that Huawei is attempting to conceal its involvement in these operations to circumvent existing American restrictions, according to a release from the Select Committee. The lawmakers highlighted that these facilities depend heavily on U.S.-produced semiconductor manufacturing equipment (SME), presenting a crucial opportunity for the United States to impede Huawei's ambitions, which they argue pose significant threats to national security.

Waaree Energies, a leading solar panel manufacturing and installation company, expects rooftop solar (RTS) to contribute at least 30% in its total revenue in the coming years, Amit Paithankar, Chief Executive Officer, Waaree Energies, told ET. “In the next five years, RTS could most definitely be a significant contributor to our revenue, highlighting its importance in our strategic roadmap…We can foresee a minimum of 30% and upwards of RTS share in our revenue pie in the coming years,” Paithankar said. “As we gear up for this massive shift, our PV module manufacturing capacity expansion plans are well on-track and as it is, we have ample infrastructure to meet the foreseen demands,” he said.

Subscribe to enjoy similar stories. New Delhi: Jamshyd N Godrej, chairman of consumer goods to engineering solutions firm Godrej & Boyce, has pitched for a new government policy to phase out old and inefficient cooling products such as air-conditioners and refrigerators from the Indian markets by incentivising the switch to appliances that consume less energy.

Subscribe to enjoy similar stories. Mineral stocks, quiet through much of 2024, are heating up ahead of what promises to be an exciting 2025. Top investors anticipate a promising year for these stocks, with Dolly Khanna, making a strategic entry into one such company after Rekha Jhunjhunwala bought and sold shares of Raghav Productivity Enhancers, which manufactures and exports quartz-related products Dolly Khanna is an investor in Chennai who is known for picking some lesser-known mid caps and small caps.

₹1,865 to ₹1,960 per share.The Hyundai Motor India IPO achieved a 42% subscription on the second day of the subscription period, according to BSE data. Retail investors subscribed to 38% of the portion, while non-institutional investors reached 26%. The qualified institutional buyers (QIBs) portion saw a subscription of 58%.

Pawan Parakh, Fund Manager, Geojit Financial Services, says in auto, we have hardly scratched the surface as far as electric vehicles are concerned, but a lot of these companies are getting valuations as if EV is 20%, 30%, 40% of their sales. This is one segment where, even at the OEM level, there are unbelievable valuations. Apart from that, in the retail space, once again some of the companies, despite how good the performance is, the valuations can be justified. Also, in some of these PSU names, a lot of the stocks have run up as if they are great Maharatna companies. These are the few pockets Parakh will be looking for the next two-three quarters. What so far within the earnings has really stood out for you either as a positive or a negative surprise? Pawan Parakh: So far not many companies have reported their earnings but whatever is out, it is one sector which we continue to like. Very clearly from now on or maybe a quarter onward you should see momentum coming back as far as its revenues are concerned. So, it is one sector which looks good. Some of the data that we picked up from various channels is that this time around e-comm sales are also being reasonably good.

Piyush Goyal recently held a crucial meeting with several prominent stakeholders from the pharmaceutical industry to address concerns of pharmaceutical exporters. The meeting held on Wednesday was attended by the General Secretary of the Indian Drug Manufacturers Association (IMDA), along with several other prominent stakeholders from the pharmaceutical industry. According to a statement by minister's office, the discussions aimed to address the pressing challenges faced by pharmaceutical exporters and explore potential solutions to enhance India's global standing in the sector.

Subscribe to enjoy similar stories. Growing up, I believed ‘Cadbury’ was just another word for chocolate, and I wasn’t the only one. Milk chocolate was first imported into India by the British and it’s now a daily habit for one in five Indians, according to a 2019 report by Mintel.

European aircraft maker and Boeing rival Airbus said it's laying off 2,500 workers as it tries to turnaround its struggling defense and space division

The world is set to make abundant energy by the second half of the decade as the production of batteries and solar panels surges but there’ll also be an excess of planet-warming fossil fuels, a report released Wednesday by the International Energy Agen...

Rakshit Ranjan of Marcellus Investment Managers says markets have run ahead of fundamentals and hence, if one wants to pick up stocks where upside from positive surprises can come, it requires a lot of bottom-up picking rather than any top-down or broader sectoral calls. Further, Marcellus used to have a far greater exposure to specialty chemicals space in some of their funds until about a year, year-and-a-half ago. It is relatively low now. There are some companies in their small and midcap portfolios where supply side issues are much less worrisome now as compared to about six months ago. These are more B2B and export-oriented chemical companies. What are the expectations with respect to earnings because a large part of the Street believes that we had run up ahead of fundamentals and now earnings have peaked and there are chances of more downgrades than upgrades? Rakshit Ranjan: I agree with your broad assessment. There are two types of challenges at the moment in the stock markets that investors should be aware of. One is earnings are going to be adversely affected by weak external macro and hence, a lot of bottom-up stock picking to ensure you pick up only those companies where earnings growth is coming through despite weak macro is required.

Danish Power, which is the largest in the SME segment this year, will open for subscription on October 22. Investors can bid for the offer till October 24. The company plans to raise nearly Rs 198 crore through the IPO, which is completely a fresh equity sale of 52.08 lakh shares. The IPO is priced in the range of 360-380 per share.

Waaree Energies are in high demand in the grey market as the company announced its price band for its Rs 432 crore IPO. The issue opens for subscription on October 21 and investors can bid till October 23. The current GMP is around Rs 1350, which indicates a premium of nearly 90% over the issue price. The IPO is priced in the range of Rs 1427-1503 apiece. Most analysts expect a multibagger listing for the company if the current demand sustains.

With plans for a crewed lunar landing in September 2026, which will mark the first time in over 50 years that humans will set foot on the Moon, NASA aims to establish a sustainable human presence there. This mission will not only feature the first woman and the first person of color to walk on the lunar surface but also emphasizes the importance of sustainability in space exploration.

The Biden-Harris administration announced plans to provide up to $750 million in direct funding to Wolfspeed, with the money supporting its new silicon carbide factory in North Carolina that makes the wafers used in advanced computer chips and its fact...

DPIIT) on Tuesday said it has relaxed the mandatory quality control norms for cookware and utensils for micro units. The quality control order (QCO) on cookware, utensils and cans for foods and beverages was issued last year to cut imports of sub-standard goods and promote domestic manufacturing. «To enhance ease of doing business, several relaxations have been introduced in the QCO, which includes exemption from the QCO for very small micro-enterprises (i.e. micro-enterprises registered under the Udyam portal) where the investment in plant and machinery does not exceed Rs 25 lakh, and the turnover does not exceed Rs 2 crore,» it said. Further, a six-month relaxation to clear legacy stock has been provided through a specific provision and exemption for the import of cans filled with powder, semi-solid, liquid, or gas through a specific provision has been introduced.

Skoda is looking to get into the high volume segment in the Indian market as it gears up to drive in all-new compact SUV Kylaq in India, according to a senior company official. The company, which currently sells four models in India, plans to drive in the sub-4 meter model early next year to compete with the likes of Maruti Suzuki Brezza, Hyundai Venue and Kia Sonet. Skoda has invested around 250 million Euro on the Kylaq project enabling a 30 per cent increase at its Chakan (near Pune) based manufacturing plant. The sub-4 meter vehicle segment has witnessed robust growth in recent years and currently accounts for nearly 30 per cent of the overall passenger vehicle sales annually.