Manufacturing Financial News

Tata Motors Ltd, which has returned a market-thumping 782% over this period, creating significant shareholder wealth. The outperformance has continued in 2024 as well, with Tata Motors’ share price rising 36%, compared to the Nifty 50 index’s gain of 11.9%. If you had invested ₹50,000 in Tata Motors stock in August 2019 it would be worth roughly ₹440,000 today.

Raymond’s cash flows. Debt piled up. The chief executive of the company’s flagship lifestyle business resigned.

equity mutual funds in the past three months thanks to a slew of product launches. The strong appetite has helped thematic and sector funds emerge as the largest category in terms of money managed among equity mutual funds, raising concerns that investors might be chasing the latest fads in the market. Over the last three months, thematic and sectoral funds attracted about ₹60,000 crore, out of the ₹1.12 lakh crore flows into equity mutual fund schemes. This is now the biggest equity mutual fund category, ahead of flexi-cap, with assets of ₹4.21 lakh crore, according to Association of Mutual Funds of India (AMFI). The mutual fund industry managed equity money to the tune of ₹28.5 crore as on July 31. Most of the flows into thematic and sector funds are lump sum investments into new fund offers (NFOs), said mutual fund distributors.

BSA, the iconic British motorcycle brand, will debut in India on August 15 with the Gold Star model, amplifying choices for enthusiasts while intensifying competition in the growing market for middleweight motorcycles. Mahindra & Mahindra-owned Classic Legends has been producing the 652cc motorcycle Gold Star at its plant in Pithampur, Madhya Pradesh for about two years but solely for exports to developed markets so far. Incorporated in the UK, BSA Motorcycle is currently a wholly owned subsidiary of Classic Legends. Anupam Thareja, one of the three cofounders of Classic Legends-the others being Mahindra Group chairman Anand Mahindra, and Boman Irani-that owns BSA along with other legendary motorcycle brands like Jawa and Yezdi-said the Gold Star was first launched in the UK and Europe. Since its relaunch in 2021, BSA is currently available in 23 countries including Europe and the UK.

India needs to raise its game quickly and look beyond production-linked incentive (PLI) schemes to establish itself as a global manufacturing powerhouse and create millions of new jobs, say experts. Time, they say, is ripe for the next wave of big-bang policy measures from the government to ensure that India's efforts to bring back local manufacturing in a big way pays off. Some suggested steps include creating world-class, export-oriented industrial hubs (where India is a laggard), ringing in favourable tax treaties with the country's top trading partners, bolstering logistics infrastructure (including connectivity with ports), encouraging sector-specific skill development, targeting high-volume local production of capital goods and investing in smart manufacturing facilities. These enablers, they say, are critical to boost India's value proposition and getting the biggest global players to invest top dollars in mega manufacturing capacities in critical sectors such as automobiles, renewable energy, telecoms equipment, electronics and batteries — more so in a changing geopolitical scenario when global companies are increasingly looking to cut their dependence on China and eying India as an alternate manufacturing hub.

Biocon Biologics, the biosimilar unit of Biocon, said it expects to launch six biosimilar products in the US, and is prioritising debt reduction to spur growth and lift margins. «Six product launches are scheduled in the next two years, subject to USFDA approvals,» Shreehas Tambe, chief executive and managing director, told ET in an interview. He added that the company is also exploring ways to reduce finance costs by optimising debt repayment timelines and interest rates.

Jindal Stainless on Monday said it will manufacture customised stainless steel and speciality low-alloy steel sheets for defence projects of BrahMos Aerospace. The company will also supply steel plates from its Hisar plant in Haryana, it said in a statement. Jindal Stainless has been accredited by BrahMos Aerospace Pvt Ltd as a qualified vendor for the manufacturing and supply of steel sheets and plates, it added. JSL MD Abhyuday Jindal said, «We envision an India that is completely Atmanirbhar in its defence requirement. In line with this vision, we are enhancing our capabilities to meet and exceed the stringent conditions for such critical applications. Contributing to the strengthening of our country's defence standing is a matter of passion and pride for us».

Shares of Inox Wind zoomed to lock at an upper circuit of 20% to its fresh all-time high of Rs 209 after the company posted a profit of Rs 50 crore in the June quarter against a loss of Rs 65 crore in the corresponding quarter of the last year. The company's consolidated revenue rose 85% YoY and 16% QoQ to Rs 651 crore for the quarter ended June 2024. The consolidated EBITDA stood at Rs 157 crore for the said period, which is up by 349% YoY.

Elon Musk endorsed Donald Trump for president last month, the Tesla founder and chief executive backed a candidate who vows to «drill, baby, drill,» «end the electric vehicle mandate» and reduce subsidies of the sort that helped Tesla become the U.S.'s dominant EV manufacturer. So instrumental have government loans, tax breaks and other EV policies been to Tesla's fast growth that despite Musk's gradual embrace of the former president and his Republican Party rhetoric in recent years, the company continues to lobby the U.S. and state governments for benefits championed by the Democratic Party. In February, for instance, Tesla in a filing with the U.S. Environmental Protection Agency, or EPA, urged the Biden administration to allow California to pursue stricter vehicle emissions rules than the rest of the country — an idea Trump opposes.

Zepto is set to raise another $310 million that will value the quick-commerce firm at $5 billion after the funding, a 40% jump from its last round closed just over a month ago, people in the know said. This will take the total funds raised to nearly $1 billion in two successive rounds for the three-year-old firm. It raised $665 million from a clutch of investors in late June, more than doubling its valuation to $3.6 billion from $1.4 billion in August last year. In a year, Zepto has seen a more than three-and-a-half-time spike in valuation, aided by the rapid rise in demand for quick commerce. Mars Growth Capital, co-run by Mitsubishi UFJ Financial Group Inc and Israel’s Liquidity Group, is set to participate in the next round joining US-based General Catalyst and other existing investors of the Mumbai-based firm for which a term sheet has now been signed, people briefed on the matter said.

Garuda Aerospace has expanded its operations in Sri Lanka, the first as part of its Global Garuda initiative which aims to increase the company’s presence in 50 countries, its chief executive officer, Agnishwar Jayaprakash, told ET. The Chennai-based company said it chose the island nation as the local drone policies were still developing and the new government was keen to promote technology and precision in agriculture and industries, seeking to reduce dependence on tourism. «We are traditionally a precision agricultural drone company. This year, we've seen revenues touch over Rs 100 crore and we saw a lot of attention coming in from overseas for our precision agriculture drones in particular. So we felt this was the right time to start making measured and cautious steps to expanding in overseas markets,” Jayaprakash said. “Sri Lanka because of its proximity to India, its developing drone regulation and smaller market was the perfect launchpad for us before venturing into other regions.»

Allied Blenders & Distillers (ABD), which owns the Officer's Choice whisky brand, is in talks with vodka giant Russian Standard and Bangkok-based Thai Beverage (ThaiBev) to market and distribute their products in India, two executives privy to the development said. The talks, if fructify, will help ABD to widen its product portfolio from largely whisky to a host of spirit segments such as vodka and scotch, while the two global companies will get an entry into the world's biggest alcohol consuming country with a strong partner which has robust distribution and manufacturing capabilities, the executives said. ThaiBev's global portfolio through its arm International Beverage includes scotch brands Old Pulteney, Speyburn, Balblair, Reid vodka, Phraya rum and Source gin. The company is owned by Thai-Chinese billionaire businessman Charoen Sirivadhanabhakdi and is listed on the Singapore Stock Exchange. Russian Standard is the largest vodka brand, owned by billionaire Roustam Tariko.

Toyota is promising to strengthen oversight of its vehicle certifications so the scandal that surfaced recently over improper tests will never recur

China as both a competitor and an adversary, Republican vice presidential nominee Senator J D Vance said on Sunday that his party wants to establish a robust international framework where the US can «check» Beijing. «I think they're both, right, and I think that what we want to do here is build the kind of international order where we can check China,» Vance told CBS in an interview when asked if he views Beijing as a competitor or an adversary. «We don't want to go to war with China, but certainly they're an adversary...for example, the Chinese know that they're manufacturing tons of fentanyl, they're letting them come into our country. (Vice president and Democratic presidential candidate) Kamala Harris has done nothing about this,» Vance said in «Face the Nation» programme. He said Harris should apply diplomatic and economic leverage on the Chinese to stop manufacturing fentanyl, which is smuggled into the Mexican drug cartels and subsequently shipped into the US.

Auto sales in China faltered in July, falling 5% from a year earlier, although exports jumped about 20% from a year earlier as makers of electric vehicles expanded into global markets

Reliance Industries Ltd, India's most valuable company, plans to commission its first solar giga-factory in the current fiscal as it pivots a green pathway to achieve net zero carbon emissions from operations by 2035. In its largest annual report, the firm said it is targeting to commission the first train of 20GW solar PV (photovoltaic) manufacturing by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026. The solar giga factory will include manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and first 50 MWh a year lithium battery cells pilot in 2026.

Opel Astra? It was India’s first tryst with German technology on the roads. With automatic transmission — a rarity in those days — ventilated disc brakes and a CFC-free air-conditioning system, Astra quickly became the car to dream for. It single-handedly launched the premium luxury sedan segment in India. Opel, then owned by Detroit, US-based auto major General Motors, doubled down, launching Corsa with an ad campaign that auto enthusiasts still remember—“Achtung Baby”—flaunting its German origins. The Opel cars scored high on product satisfaction, but the sheen wore off quickly, thanks to expensive maintenance and sub-par after-sales experience, all of which affected the resale value. Opel exited India in 2006, 10 years after its entry. French manufacturer Peugeot was another early mover in the 1990s and launched the 309 —a boxy sedan with 80s design language—in India. Not even the choice of the TUD5 engine, a legendary motor, could save the Parisian car maker. You would think that after initial hiccups, things would have become different in the new millennium and the Europeans would have made the most of their early-mover advantage. But that was not to be.

Kai Group, a Japan-based personal care product and kitchen equipment maker, said it will invest 300 million yen (around Rs 17.17 crore) to expand production capacity of its manufacturing facility at Neemrana in Rajasthan. This latest investment is to increase the production capacity of women's razors by over 5 million units per year, according to a statement issued by the group's local subsidiary Kai India. «The group is planning an additional investment, allocated around 300 million yen, reflecting KAI group's commitment to bolstering its manufacturing infrastructure,» it said. The expected timeline for the completion of this expansion is five months, and the company expects the enhanced production capacity will be operational by the end of December 2024.

Amit Shah on Saturday called on sugar mills to explore alternatives to sugarcane for ethanol production, pushing for a multidimensional approach to biofuel manufacturing. Speaking at an event organised by the National Federation of Cooperative Sugar Factories (NFCSF), Shah said: «The target set for ethanol blending of 20 per cent is 2030. We will achieve the target in 2025-26.» The minister highlighted that the government's ethanol blending programme has helped reduce the country's crude oil import bill and address environmental concerns. Shah emphasised the need for sugar mills to adopt a forward-looking approach, stating, «You need to be futuristic and look at opportunities and expand. ...ethanol can be made from multiple sources.»

global factors like sharper-than-expected weakening of the US labor market, unwinding of Yen carry trades and rising geopolitical tensions in the Middle East, FIIs withdrew $1.3 billion from the Indian stock market in the week. However, buying of around $2.2 billion worth of equities by domestic institutional investors last week limited the downside on Dalal Street. Sensex ended 1.6% lower on a weekly basis as global markets recouped losses after ' Black Monday' sell-off.

Moon River in denim pedal pushers and a terry cloth turban in the 1962 classic Breakfast at Tiffany’s, she sparked not only a fashion revolution—she helped ignite an economic phenomenon. By the 1980s, denim had become a symbol of youth and minimalist style. Read this | When street fighter Manu Chhabria laid siege to Shaw Wallace Lalbhai recognized the potential for India, a country with a rich textile history but hampered by outdated machinery and processes, to make a mark in the global denim market.