Manufacturing Financial News

Boeing named a longtime aerospace industry veteran as its next chief executive, who will take over a company that has been rocked by legal, regulatory and production problems.

Sansera Engineering Limited on Wednesday signed a Memorandum of Understanding (MoU) with the Karnataka government to expand Sansera's manufacturing capacity in Ramanagara with an investment of Rs 2,100 crore. The facility at Harohalli, Ramanagara is expected to drive growth in both the automotive and non-automotive sectors.

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The budget for 2024-25 highlights the urgency of job creation and skilling, and emphasizes the need to get more women into India’s labour force. As the government prepares to roll out employment-linked incentives and other schemes aimed at first-time workers that may increase the participation of women in the workforce, we must also think about women who have exited. Our research with low-skilled workers in the manufacturing sector clearly shows that manufacturers face a huge turnover among women working on the shop-floor.

Toyota Kirloskar Motor (TKM) Wednesday signed an agreement with the Maharashtra government to manufacture electric and hybrid cars, which Chief Minister Eknath Shinde said would revolutionise the automobile sector in the state. The MoU (Memorandum of Understanding) was signed at Sahyadri Guest House in Mumbai.

supply chains after the pandemic and due to geopolitical reasons has given India a chance to make in India for the world. It's not just China. Other Asian countries such as Vietnam and Bangladesh are also formidable incumbents. Traditionally, other Asian countries have had an edge over India due to various reasons such as cheaper labour, less rigid labour market and free trade agreements. But now India too is becoming an attractive source of goods for Western countries.

electric two-wheeler makers are preparing for a future without government subsidies amid uncertainty on whether these vehicles will be included in the upcoming third phase of the FAME (faster adoption and manufacturing of electric vehicles) scheme.

A closely watched measure of Chinese manufacturing activity remained negative in July as concern persists about the state of the world’s second largest economy

Advocacy of Chinese foreign direct investment into India by the Economic Survey notwithstanding, a change in India’s position seems unlikely. “There is no rethinking at present to support Chinese investments in the country," commerce and industry minister Piyush Goyal said on Tuesday, noting that the survey’s recommendations are not binding.

HPE) has shipped its first batch of 1,000 made-in-India data servers beginning March, and is on track to achieve the $1 billion local manufacturing target over the next five years, its top India executive said.

Pfizer now expects 2024 earnings to wind up well above analyst expectations after starting the year with a forecast that disappointed Wall Street

Oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were balanced by a government pledge of policy measures for the economy and the prospect of lower U.S. crude and product inventories. A raft of disappointing economic news from China, the world's largest crude importer, has been weighing on commodity prices. China's manufacturing activity likely shrank for a third month in July, a Reuters poll showed on Monday.

Meloni hopes to implement past agreements and try new forms of cooperation.

China’s powerful Politburo has endorsed the ruling Communist Party's strategy for growing the economy by encouraging more consumer spending and weeding out unproductive companies to promote “survival of the fittest.”

U.S. health regulators have approved a blood test for colon cancer, offering a new way of screening for a leading cause of cancer deaths

Which industry grows regardless of external factors and serves as the primary growth driver – directly or indirectly – for all other industries? The answer, of course, is the power transmission and generation industry. With the government setting ambitious targets to meet the increasing demand for electricity and support the country’s economic growth, this sector stands at a crossroads. India's power industry is poised to become a significant exporter of electricity, with existing connections to the grids of Bangladesh, Bhutan, and Nepal, and plans to expand these to other neighbouring nations.

Premier Energies Ltd and P N Gadgil Jewellers Ltd, have received Sebi's go-ahead to raise funds through Initial Public Offerings (IPOs), an update with the markets regulator showed on Tuesday. The other two firms that obtained the regulator's clearance to float initial share sales are — Ecos India Mobility and Hospitality Ltd and KRN Heat Exchanger Ltd. The four companies, which filed their preliminary IPO papers between March and April, obtained Sebi's observation letters during July 22-26.

Sunil Singhania, Founder,Abakkus Asset, and Bharat Shah, Executive Director, ASK Group, in conversation with Nikunj Dalmia of ET Now on the occasion of Prabhudas Lilladher 80th Anniversary. Singhania says the wealth and asset management business is still minuscule and this is a business where at least 25% growth is visible for the next 10-20 years. And 25% growth over 10 years is 10x and if it lasts for 20 years it is 100x. It is a good business as one does not need capital and only needs intellectual capital. There is 100% cash conversion. He says asset management and wealth management companies are going to be some of the biggest wealth creators. What is the next big theme, idea or trend you are betting on? I respect your compliance, we will not talk stocks. But give us where you think there is scope for earnings upgrade, PE upgrade, and where the macros are going to be favourable?

Varun Beverages reported a 26% year-on-year (YoY) increase in its Q2 CY24 profit after tax (PAT), reaching Rs 1,262 crore. Revenue from operations stood at Rs 7,197 crore, up 28% YoY. In the corresponding quarter of the previous year, the company's revenue was Rs 5,611.4 crore. For the half-year ending June 2024, revenue showed a 21% YoY growth.