Manufacturing Financial News

Advanced Micro Devices is buying a server company but has no plans to get into the server business. In the booming market for artificial-intelligence systems, that actually makes sense. The chip maker better known as AMD unveiled plans Monday to spend $4.9 billion to acquire ZT Systems, a privately held company that designs and manufactures servers and other types of data-center hardware.

JR One Footwear Pvt Ltd, a joint venture company between Phoenix Kothari Footwear Ltd and Taiwan-based ShoeTown Group has plans to expand its presence in Tamil Nadu by setting up two more manufacturing facilities and leather component clusters in the state, a top official said on Tuesday. The company had already committed investments of about Rs 5,000 crore for setting up a factory in Perambalur to produce 'Crocs' range of footwear. Spread across 50 acre of land in the district, located about 250 km south of Chennai, the manufacturing unit currently has generated about 1,700 jobs (direct and indirect) in the region. «We are expanding by entering two more districts (For setting up manufacturing facilities). We are bringing two more international footwear brands. We will announce the name of two districts soon, » Phoenix Kothari Footwear Ltd Chairman J Rafiq Ahmed said in an interaction here. Globally, Shoetown Group is a leading manufacturer of footwear and the Kothari Group has ties only with Ron Chang, Chairman, Shoetown Group for manufacturing of footwear in India, he said responding to a query.

Hero MotoCorp has fallen to the second position behind Honda Motorcycle & Scooter India (HMSI) based on wholesale dispatch data. According to figures from the Society of Indian Automobile Manufacturers (Siam), Honda has surpassed Hero MotoCorp in the April-July period, with 18.53 lakh units compared to Hero's 18.31 lakh units. This represents a difference of approximately 21,653 units, which grows to over 1.3 lakh units when including exports. Both companies declined to comment when approached, a TOI report stated. In January 2011, Hero MotoCorp and Honda Motors (Japan) decided to split after 26 year of partnership.

record date for the purpose of its 1:5 stock split, following which the stock closed 4.6% higher on BSE at Rs 555. “The Company has fixed Wednesday, 11th September, 2024 as ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division of every one fully paid-up equity share having face value of Rs. 10/- (Rupees Ten only) each in the share capital of the Company into five (5) fully paid up equity shares having face value of Rs. 2/- (Rupees Two only) each,” said the company in a filing to the exchanges.

iPhone 16 launch date revealed via new leaked poster. Expected date, time and all we know so farAccording to a report by Bloomberg, Apple's key partner Foxconn has started training thousands of its workers at a factory in Tamil Nadu to produce iPhone 16 Pro and iPhone 16 Pro Max variants.

₹305 crore from Larsen & Toubro. However, analysts are unsure about the optimism. The contract is to manufacture opto-electronic components for L&T’s close-in weapon system programme, a critical component of the Indian navy’s defence infrastructure.

companies that make air-conditioners. Leading firms such as PG Electroplast and Epack Durable reported more than 70% year-on-year growth in the June quarter. These companies design and make air-conditioners for famous brands such as Voltas, Blue Star and Samsung, apart from washing machines and electronic appliances.

smartphone manufacturing hub like China, yet. It is still importing a large chunk of the components that go into a smartphone. Smartphone exports from India picked up speed in the latter part of 2020, and crossed $1 billion a month in late 2022.

OnePlus Buds Pro 3 will be unveiled by the Chinese smartphone manufacturer at a virtual event beginning at 6:30 pm. OnePlus has collaborated with musician Anuv Jain for this launch, and it is expected that the artist will be present during the presentation.The live unveiling of the OnePlus Buds Pro 3 can be viewed on the OnePlus India YouTube channel.

Tata Motors offers flexible shift timings for women and door-to-door transport equipped with female security personnel and audio-enabled CCTV. For women who work on the shop floor across shifts, there are mid-level managers in some locations who voluntarily rotate supervision until the last woman employee reaches home and reports back to the local leadership team, said Tata Motors CHRO Sitaram Kandi. E-commerce giant Amazon also has similar measures in place.

gaming and animation in India is bright and Bengaluru is poised to be at the forefront, said Karnataka Minister Priyank Kharge on Monday. The government is committed to supporting startups and SMEs in the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector and establishing the state as a global hub for AVGC, he said. «Government is ready with funds and is willing to partner with anyone. In fact, I am seeing the AVGC industry as a foot in the door for electronics manufacturing for gaming accessories. So, it has the potential to create a parallel economy with respect to manufacturing as well,» said Kharge, who holds the portfolio of Information Technology. The minister unveiled the theme and poster for GAFX 2025, the 6th edition of one of India's most eagerly awaited gatherings in the gaming, digital media, and entertainment industries, which will be held between February 27 and March 1, 2025.

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steel products is set to grow by 8-10% each year on an average driven by demand from the construction segment and manufacturers of appliances and white goods, Ranjan Dhar, the director for sales and marketing at AM/NS India said. India currently consumes around 3.2 million tonne of coated steel each year, he told ET, adding that the demand for this product from the value-added segment is growing at a faster pace than that of steel. AM/NS India, which is the fourth largest producer of steel in India, a joint venture between ArcelorMittal and Nippon Steel, has recently launched a color-coated steel brand, a patented product from ArcelorMittal.

profit surge by 33 per cent on back of strong performance by core infrastructure business as also emerging businesses ranging from solar and wind manufacturing to airports. «EBITDA (in April-June) surged by 32.87 per cent year-on-year to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year,» the group said in a statement. Group net profit jumped over 50 per cent to Rs 10,279 crore in April-June — the first quarter of the current 2024-25 fiscal year.

Caplin Point Laboratories surged 15% to hit a fresh 52-week high of Rs 1,818 on the NSE after the company informed exchanges about nil observations by the Brazilian health regulator during an inspection at its Chennai -based unit. Brazilian Health Regulatory Agency (Anvisa) conducted an inspection of Caplin Steriles’ injectable and ophthalmic manufacturing facility located at Gummidipoondi between August 12 and 16 and concluded with zero observations.

trade war between the world's two largest economies, Easy Signs would now be hiring dozens of workers at its factory in Allentown, Pennsylvania. It would be readying plans to build a second plant somewhere out West — Salt Lake City was a contender — generating another 100 jobs. Based in Australia, Easy Signs manufactures banners and marketing installations for corporate events, using huge printers to press logos and slogans onto rolls of cloth. Its American business has been growing 70% a year. Still, the company is putting off an expansion. Its cloth signs are displayed on aluminum stands made in China. Those products are now subject to a series of tariffs reaching as high as 365% under a policy set in motion by former President Donald Trump and continued by the Biden administration in the name of protecting American industry from Chinese government subsidies.

board of AIA Engineering has approved a share buyback of Rs 500 crore at Rs 5,000 per share, a premium of nearly 10% over Friday’s closing price of Rs 4,553. August 20 has been set as the record date. “We wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e., August 07, 2024, have, inter alia, approved the Buy-back of up to 10,00,000 (Ten Lakhs Only) fully paid-up Equity Shares of face value of ~ 2/- each by the Company (representing 1.06% of the total number of Equity Shares of the Company) at a price of ~ 5,000/- (Rupees Five Thousand) per Equity Share payable in cash for a total consideration not exceeding ~. 500,00,00,000/- (Rupees Five Hundred Crores only),” said the company in its filing to the exchanges.

Edited excerpts from the interview: Life has taught me that investing goes through phases. There are times when making money seems easy, and you must stay grounded. And then there will be times when returns are elusive, where you shouldn't lose hope.

Murugappa Group equally among three family groups that’s been over two years in the making has got stuck, said people with knowledge of the matter. The Murugappa Chettiar family had been negotiating an amicable split of the diversified business empire with over $9 billion in revenue in FY23 after five generations of working together over more than a century, they said. The much-celebrated turnaround of CG Power within four years of its takeover by group company Tube Investments of India (TII) has become a key bone of contention among different family groups that make up the promoter group. Shares of four Murugappa group companies, including Wendt India and Shanti Gears, yielded over a 50% return in CY23. But it’s the meteoric 15-fold jump in the share price of CG Power after the TII buyout that has grabbed the spotlight. Another standout has been the performance of Cholamandalam Investment and Finance Co. Ltd, the group’s principal financial services arm, a listed company with over Rs 1 lakh crore market value.

startups in the electric two-wheeler segment — Ola Electric, Ather Energy and Greaves Electric (Ampere) — declined to 48.8% in the first quarter, from 59% in the year-ago period, as legacy manufacturers such as Bajaj Auto, Hero MotoCorp and TVS Motor Company expanded their footprint in the fast-evolving market. After starting from behind, the older companies accounted for about one of every three units sold in the category in the first three months of the current financial year. Overall, electric two-wheeler sales inched up by 1.4% to 221,548 units, according to the Federation of Automobile Dealers Association (FADA).

Central Bank of India is on the verge of acquiring Future Enterprises' (FEL) stakes in two insurance joint ventures, as the debt-ridden conglomerate undergoes insolvency proceedings. The state-owned bank is likely to take over Future Enterprises' 25% stake in Future Generali India Insurance Co. and a 33% stake in Future Generali India Life Insurance Co., according to people familiar with the matter. The acquisition comes as the bank seeks to increase its presence in the insurance sector, where it currently holds a minority stake. Lenders to Future Enterprises had divided the company's assets into three groups — insurance ventures, textile businesses and other residual stakes.