Manufacturing Financial News

Bank of Baroda. Though the ICR was comfortable despite moderation, the higher base effect is likely to keep profit growth under pressure. This is distressing as profits are the main driver of the debt servicing ratio. ICR measures a company’s debt servicing capability and indicates whether the company is making enough profits to meet its interest liabilities. Moreover, the sectors that contributed significantly to top line or revenue growth in 2023-24 saw a slowdown in the June quarter. These sectors included automobiles, consumer services, airlines, industrials and cement. “The demand slowdown is a sign of worry,” states the Nuvama report.

The agency last week filed a complaint with the agency's Adjudicating Authority under relevant provisions of Foreign Exchange Management Act (FEMA) alleging that the Surat-based entity illegally transferred forex to foreign shores in the «garb of imports from the special economic zone». The complaint alleges that the agency has so far detected illegal transfers of ₹3,437 crore. According to people in the know the total amount of alleged illegal transfers is likely to reach ₹5,000 crore.

Subscribe to enjoy similar stories. Automobile giant Ford Motor Co., which stopped manufacturing vehicles in India in August 2022, plans to resurrect its manufacturing facility in Chennai, Tamil Nadu to use India as an export hub. Observers may wonder why the American carmaker has decided to return to India.

Subscribe to enjoy similar stories. Venture capital firm Bessemer Venture Partners, which has invested in the likes of Swiggy and BigBasket, said that the cybersecurity segment is poised, in terms of investments, to take off in India on the back of rising instances of data fraud. The segment has been “fertile" for Bessemer globally, where the VC has made over 30 investments.

climate change accelerates, the urgency grows around two key threats—indirect greenhouse gas (GHG) emissions from inefficient air-conditioning and refrigeration appliances powered by fossil fuel-based electricity, and direct GHG emissions from harmful refrigerants in these systems. Cooling is no longer a luxury—it’s a necessity in our rapidly warming world.

Subscribe to enjoy similar stories. If I had to grade the debate between US Vice President Kamala Harris and former President Donald Trump from a climate perspective, I would give it a C, and that’s being generous. One candidate mainly looked backward and talked a little too favourably about fossil fuels.

The MacBook Pro is the only Apple product manufactured in the USA. Currently, total sales of Mac computers account for less than 10% of Apple's revenue, with the MacBook Pro representing slightly more than half of Mac computers' sales.

Epsilon Advanced Materials is planning to set up a Rs 9,000-crore anode plant in Karnataka with an annual production capacity of 90,000 tonne, a top official of the company said. The investment in the plant would be made in two phases. In the first phase, Rs 4,000 crore would be invested and the remaining Rs 5,000 crore would be pumped in in the second phase, Epsilon Group Managing Director Vikram Handa said. «So, we are looking to build a 30,000-tonne anode plant in India by Q4 2026, which will entail an investment of about Rs 4,000 crore. The plant will be scaled up to 90,000 tonne (capacity) by 2031. The total capex outlay is Rs 9,000 crore for our annual business in the next eight years,» Handa explained. With increasing demand of electric vehicles in India, there is a need for Indian cell manufacturing companies to set up battery plants in the country. Epsilon products will act as a sustainable and reliable supplier of anode and cathode material to these cell companies.

Tolins Tyres is set to debut on the bourses on Monday. Grey market trends suggest that the stock is expected to deliver positive gains, with the grey market premium (GMP) at Rs 30, indicating a 13% premium over the issue price. The shares of Tolins Tyres are set to debut on the bourses on Monday. According to grey market trends, the stock is expected to deliver positive gains to investors.

Kross Ltd will debut on the exchanges on Monday. Ahead of the listing, the company’s shares are trading with a grey market premium (GMP) of Rs 24.5. With the upper price band set at Rs 240, the stock is anticipated to list at a 10% premium to the issue price.

Tesla Semi’s lithium-ion battery, resulting from a crash, required around 50,000 gallons or about 190,000 litres of water to extinguish. The incident took place on August 19 and is being investigated by the US's National Transportation Safety Board (NTSB). According to the NTSB's preliminary report, the battery reached temperatures of 1,000 degrees Fahrenheit. As a safety measure, firefighters also used an aircraft to drop fire retardant around the truck. The crash occurred near Interstate 80 at Emigrant Gap, approximately 70 miles northeast of Sacramento. NTSB investigators examined the fire risks linked to the truck's large battery. They confirmed that the truck was not operating on Tesla's partially automated driving systems, which «could not be engaged.»

industrial policy to expand its economy and finance green manufacturing has helped kick off a fevered scrimmage among nations to develop and protect their own hometown businesses. It has been 40 years since such competitive anxieties about a rising Asian power prompted this kind of embrace of government intervention among the biggest free-market economies. Only then it was Japan, not China, that was the source of unease.

Polymatech Electronics is investing $16.2 million (about Rs 136 crore) in Bahrain as part of its strategy to spend more than $100 million in the Gulf nation by 2027, top company officials said. This investment marks the first phase of Polymatech’s foray into the Middle East and North Africa (MENA) market, the officials told ET. Polymatech designs, manufactures, packages, and assembles opto-semiconductor chips and modules. Opto-semiconductors are electronic devices that either emit or detect light, and are used in a variety of applications, including medical lighting, large-area lighting, cell phone backlights, agriculture, PCs, and laptops.

grey market premium (GMP) on Kross' shares have reduced by half to Rs 24 from Rs 50 ahead of the listing of the stock on September 16, Monday. This is a 10% premium over the issue price of Rs 240 per share. The three-day initial public offering (IPO) which ended on September 11 got a strong response from all categories of investors though qualified institutional buyers (QIBs) hold the edge.

BEIJING — China's retail sales, industrial production and urban investment in August all grew slower than expected, according to National Bureau of Statistics data released Saturday.

Subscribe to enjoy similar stories. SINCE ITS founding in 1968 Intel has been synonymous with shrinkage. In its first four decades this was high praise.

Aerospace will drive growth for Tata Technologies as it sees an increase in business driven by a supply chain crisis forcing airlines to refurbish cabins as they look to hold onto aircraft longer. The company has also tied up with major aircraft manufacturers — Airbus and Boeing — and maintenance, repair, and overhaul (MRO) firms for faster processes to make grounded aircraft fly. «The company anticipates substantial growth in aerospace business in the coming years. We aim to be a dominant force in aerospace engineering and the partner of choice for our customers,» Aloke Palsikar, head of aerospace and industrial heavy machinery sales at Tata Technologies, told ET in an interview.

The Biden administration is cracking down on the cheap products sold out of China by companies such as Temu and Shein

The National Transportation Safety Board says California firefighters had to douse a flaming battery in a Tesla Semi with about 50,000 gallons of water to put out flames after a crash

Interarch Building Products Ltd has reported a 5 per cent increase in consolidated net profit at Rs 20.3 crore for the quarter ended June. Its net profit stood at Rs 19.4 crore in the year-ago period. Net revenue rose 3 per cent to Rs 303.4 crore in April-June period of this fiscal from Rs 293.7 crore in the corresponding period of the previous year, the company said in a statement on Thursday.

Subscribe to enjoy similar stories. Applied Materials Inc., the world’s second-largest toolmaker for semiconductor fabrication units, is working with more than a dozen international and domestic suppliers to set up manufacturing in India, said Prabu Raja, president of the semiconductor products group at the California-headquartered company.