Manufacturing Financial News

Diffusion Engineers will open for subscription on September 26. The issue, which closes on September 30, is completely a fresh equity sale of 94.05 lakh shares. The company has fixed a price band of Rs 159-158 per share for the Rs 158 crore public offer. Investors can bid for a minimum of 88 shares in one lot and in multiples thereafter.

JK Lakshmi Cement (JKLC), one of India’s leading cement manufacturers, has renewed its partnership with cricketing icon Rohit Sharma as its brand ambassador for the fifth consecutive year. This continued collaboration highlights the alignment of shared values between JKLC and Rohit Sharma, with both symbolising excellence, strength, and reliability. Rohit Sharma, known for his leadership and consistent on-field performance, perfectly embodies the core attributes that define JKLC. His enduring association with the brand has resonated strongly with both consumers and stakeholders, further strengthening JKLC's presence in the market. Commenting on the renewal, Arun Shukla, President and Director of JK Lakshmi Cement, said, “Rohit Sharma’s exceptional talent and achievements have made him a beloved figure across India and beyond. His association with JK Lakshmi Cement has enhanced our connection with consumers. We are excited to continue this journey and aim for even greater success together. Rohit's ambitious spirit reflects our product’s promise of durability and reliability. Together, we strive to build not just structures, but lasting relationships with our customers."

BEIJING — More economists are calling for China to stimulate growth, including those based inside the country.

Subscribe to enjoy similar stories. Creating Indian brands with ‘priority’ products for the local as well as global markets is likely to be a key focus area of the upcoming national policy on electronics. The aim is to identify and push products with high value addition and design capabilities within the country.

Subscribe to enjoy similar stories. Global private equity firm Carlyle is building a $400 million platform in India to acquire and merge auto component makers, two people aware of the plans said. Carlyle may acquire at least two parts-makers by the end of this financial year and two more in the next 12-18 months, the people cited above said on the condition of anonymity, adding it will focus on companies catering to electric vehicles, as well as export-led companies.

Subscribe to enjoy similar stories. SHANGHAI : The chairman of drugmaker Roche denounced the recent boom in industrial subsidies by the U.S. and European governments and called them a “waste of money." Roche’s Severin Schwan used a visit to Shanghai for a business forum to criticize support that Western nations have increasingly offered to give their manufacturing industries a boost against competition from China and other nations.

He had to repeat the question before Dueera clarified that good ghee never came from dead animals. Hurryshunker suggested that the ghee he was selling was meant for lamps, not human consumption. Dueera said “I have never seen it used in lamps.”

Commerce and Industry Minister Piyush Goyal will meet Indian and Australian CEOs this week to discuss investment opportunities, an official statement said on Sunday. At the invitation of Don Farrell, the Minister of Trade and Tourism of Australia, Goyal will undertake a visit to Australia from September 23-25. The minister will co-chair the 19th India-Australia Joint Ministerial Commission meeting to be held in Adelaide on September 25, during which both sides will discuss ways to further elevate the bilateral economic engagement. «Commerce minister will interact with leading Australian and Indian CEOs and industry leaders and representatives from Australian pension funds to highlight the vast opportunities for investment in India,» the commerce ministry said.

Subscribe to enjoy similar stories. Three years ago, Intel was worth more than double its current value, and Chief Executive Pat Gelsinger was on the prowl for acquisitions. Now Intel itself is a takeover target, in a sign of how strategic missteps and the artificial-intelligence boom have combined to reshape the fortunes of America’s most storied semiconductor company.

manufacturing capacity for building on existing clean energy cooperation between the two nations, according to the White House. The announcement on Saturday came after the meeting of Prime Minister Narendra Modi and US President Joe Biden at Greenville, Delaware. Prime Minister Modi is in the US on a three-day visit. To launch the partnership for establishing a «shared, resilient, and cutting-edge techno-industrial base» centred on innovative clean energy manufacturing techniques, the US and India are «working to unlock USD 1 billion in new multilateral finance through the International Bank for Reconstruction and Development (IBRD) for projects, including catalysing India's domestic clean energy supply chain buildout», the White House said in a statement.

Subscribe to enjoy similar stories. The puzzle of how thousands of pagers were sabotaged in an Israeli attack on Hezbollah this past week has sparked investigations into the supply chain behind them, leading investigators to a labyrinth of shadowy companies and individuals spanning Asia and Eastern Europe. The search for who was behind the manufacturing, sale and distribution of the pagers has pointed to some companies that were created in recent years, with little to no paper trail of their activities and run by mysterious business people with a vague online footprint and little experience in the telecommunications industry.

Subscribe to enjoy similar stories. PINGTUNG, Taiwan—Taiwan’s military recently set up live-fire exercises on this stretch of coastline facing China to show off half a dozen brand-new Humvee armored vehicles mounted with antitank missile launchers—part of its recent delivery of weapons from the U.S. But the missiles designed for use with the launchers didn’t arrive with the shipment.

Subscribe to enjoy similar stories. The Squishmallow, a hybrid stuffed toy and plush pillow, soared in popularity during the pandemic as consumers sought comfort in huggable versions of cute animals and food. Behind that cuteness is an intellectual property battle that is anything but cuddly.

Qualcomm has approached its rival Intel in recent days about the possibility of acquiring the slumping Silicon Valley giant, two people familiar with the matter said Friday, requesting anonymity because the talks were confidential. Qualcomm has not yet made an official offer for Intel, one of the people said, and the obstacles to a deal remain steep. Any deal would likely draw significant regulatory scrutiny, given the mammoth size and national security importance of both chip companies. It is unclear whether regulators would allow Qualcomm to buy Intel without taking on its struggling foundry business, and it remains equally unclear whether Qualcomm would want to take on that complex endeavor. A deal would also be costly. Intel, which has seen its shares fall nearly 40% over the last year, has a market capitalization of $93 billion. Qualcomm, which has seen its shares rise 55%, has a market value of $169 billion.

Prime Minister's E-DRIVE scheme will have a phased manufacturing programme (PMP) to support local manufacturing of electric vehicle (EV) components, officials said. EV makers that source components locally will receive financial support under the scheme sans any domestic value addition mandate, they said.

KLW Wheelco has supplied 2,000 Ukrainian-make forged wheels to the Indian Railways in the past few weeks, said a senior Indian government official. This is the first such delivery from the war-torn nation since the Russia-Ukraine conflict started in early 2022. The development comes close on the heels of Prime Minister Narendra Modi's recent visit to Kyiv where he met with his counterpart, President Volodymyr Zelenskyy. «Another 3,500 forged wheels are on their way from Ukraine. Orders for 10,000 forged wheels worth ₹72 crore have been placed with the Swiss company earlier this year,» the official told ET. These wheels are being manufactured in Dnipro (Ukraine) by Interpipe Group, a global producer of steel pipes and railway wheels. The wheels are for Bogie Open Wagon with Air Brakes (BOXN wagons), which are largely used for carrying goods such as coal, and are being loaded from an Ukrainian port in the Black Sea.

Dr Reddy's Laboratories (DRL) on Friday said the United States Food & Drug Administration (FDA) has completed a routine Good Manufacturing Practice (GMP) inspection at its plant with zero observation. In a filing, the company said the inspection was carried in their integrated product development organisation (IPDO) in Bachupally, Hyderabad. «This is to inform you that the United States Food & Drug Administration (USFDA) today completed a routine Good Manufacturing Practice (GMP) inspection at our R&D centre (Integrated Product Development Organisation or IPDO) in Bachupally, Hyderabad,» the company said in a stock exchange filing.

Copeland, a global player in sustainable climate solutions, will invest Rs 500 crore (US$60 million) in India to expand its manufacturing facility in Atit, Maharashtra, and to construct a new global R&D center in Pune, the company said on Friday. The manufacturing, engineering, and R&D investments in India will expand existing engineering capabilities, increase the production capacity of Copeland's compression solutions, and advance the innovation of sustainable heating, cooling, refrigeration, and industrial solutions. «India is an important growth market for Copeland, and this expansion reaffirms our commitment to both the Indian market and innovation,» said Ross B. Shuster, chief executive officer, of Copeland. «These planned investments will enable us to increase production capacity and reduce lead times for our customers in the region while supporting India's energy and environmental goals.»

The Biden administration is awarding $3 billion to U.S. companies to boost domestic production of advanced batteries and other materials used for electric vehicles, part of a continuing push to reduce China’s global dominance in battery production

Federal land managers have completed a final environmental review of a proposed Nevada lithium mine they say would help supply minerals critical to electric vehicles and a clean energy future while still protecting an endangered wildflower

LIC Mutual Fund has launched LIC MF Manufacturing Fund, an open-ended equity scheme following manufacturing themes. The new fund offer or NFO of the scheme is open for subscription and will close on October 4. The units under the scheme would be allotted on October 11. Also Read | US Fed rate cut: Do international mutual funds look attractive now?