Manufacturing Financial News

Kotak MF first to lift curbs on investing in small-cap fund following elections, earnings growth Jain was chief investment officer at HDFC AMC from 2004 to 2022. He managed the HDFC Balanced Advantage Fund (earlier known as HDFC Prudence Fund), a hybrid equity fund, for 28 years (1994 to 2022).

Ukraine received a setback when Russian forces rained down its famous Iskander M ballistic missiles. These missiles destroyed two S-400 air defense systems of Ukraine. This happened in the Poltava region of Ukraine. The Russian Defense Ministry published footages of this incident. Russia is increasingly using these missiles and it is believed to be the fourth strike on Ukraine in a span of six days. It has also been reported that Ukraine has adopted a well-known war tactic of using decoys to engage with the Russians. The latter would be tricked into striking dummy models without sustaining any major damages.

electric vehicles, local production of advanced technology batteries and faster procurement of electric buses by public transport networks during the first hundred days in office. Top sources in the know told ET, the schemes being considered for approval include award of 10 GWh capacity under the PLI ACC (Production Linked Incentive Scheme for Advanced Chemistry Cells) to set up local units for making advanced batteries, a payment security mechanism for extending interest-free capital to automakers in case of default in payments by state-transport undertakings which will help facilitate widespread procurement and deployment of electric buses and the third chapter of the Faster Adoption and Manufacturing of Electric Vehicles (FAME 3). All three schemes have been put up for inclusion in the 100-day agenda to accelerate the transition towards clean mobility solution to realise net zero objectives, a senior official aware of the development said, adding, the Prime Minister is scheduled to chair a meeting of secretaries from across ministries later this month to freeze the 100-day plan.

Ahmedabad (Gujarat) [India], July 9: K&R Rail Engineering Ltd, a leading Railway infrastructure company offering services in laying of track, signalling, electrification and telecommunication in the Railway Industry is proud to announce that it has signed a Memorandum of Understanding (MOU) with UNECO Co. Ltd, a South Korea-based company engaged in the manufacture and sale of industrial machineries, to establish a Composite Sleeper Plant in India. With the estimated cost of Rs.

first robot "suicide", according to the Daily Mail. The response isn't surprising since South Korea loves its robots, and boasts of highest robot density globally with one industrial robot for every 10 employees, according to the International Federation of Robotics. While the exact cause of the incident is still under investigation, some officials say it could have been caused by a navigational error, sensor failure, or even a programming bug.

thematic funds is an equity mutual fund category that received the highest inflows of ₹70,000 crore in the past year. It is now the second-largest category in the equity mutual fund space after flexicap funds. What are Thematic Funds? Thematic funds are a category of MFs that invest at least 80% of their total assets in stocks of a particular theme. Some of the popular themes with investors and launched by fund houses in the recent past are manufacturing, real estate, tourism, energy and automotive, BFSI, and PSU funds. For example, the manufacturing fund is a thematic fund that predominantly invests in a diversified portfolio of sectors like auto and auto ancillaries, capital goods, healthcare, chemicals, oil and gas and consumable fuels.

As Florida’s ban on “lab-grown” meat is set to go into effect, one manufacturer hosted a last hurrah with a cultivated meat-tasting party in Miami

XUV700 is a continuation of our business strategy execution that was articulated in our 14th February 2024 analyst meeting where we clearly outlined that we have to bring the average price point down to drive growth. We kickstarted this effort with the launch of AX5 select variant in May 2024 and have also brought in a 3rd anniversary celebration variant for the higher-end XUV700 for a limited period of 4 months," Mahindra and Mahindra further added.The fully loaded AX7 range of the XUV700 now starts at ₹19.49 lakh, according to Mahindra & Mahindra, a savings of more than ₹2 lakh.

chip giant TSMC into the elite club of the world's most valuable companies is further proof that the generative AI revolution is shaking up Wall Street. TSMC, listed in both Taiwan and New York, briefly broke the one trillion dollar market capitalization barrier on Monday, putting it ahead of Tesla as the seventh most valuable technology giant on the stock market.

Allied Blenders and Distillers listed on the exchanges on Tuesday with a premium of 14%. The stock debuted at Rs 320 on NSE as against an offer price of Rs 281. The IPO, which was a combination of fresh equity sale of Rs 1,000 crore and an offer for sale (OFS) of 1.77 crore shares, was subscribed over 20 times at close.

Bihar is planning to introduce a few policies in the next 2 months to attract capital in various potential sectors and is poised to become the growth engine of the East, State Industries and Tourism Minister Nitish Mishra has said. The state is implementing strategic measures to suit both large and small businesses in order to promote industry and employment, aligning with Prime Minister Narendra Modi's vision to develop East India as a growth engine, he said. «Bihar is ready to participate in the country's development and become the growth engine of the East,» Mishra said on the sidelines of Bihar Business Connect 2024 first roadshow in Kolkata on Monday. Over 50 companies represented by some nearly 90 officials and industrialists attended the event.

Formula One race and the manufacturer of a hypersonic missile have in common? To a layman this may be like comparing oranges to apples. It has now emerged in various news reports that the Formula One team McLaren will be collaborating with the British Ministry of Defence on its hypersonic missile program. The car maker will be amongst other things advising the Ministry of Defence on matters pertaining to optimizing supply chain relationships. The details of the cooperation remain vague and this comes in the midst of an arms race in the manufacturing and innovation in the field of hypersonic missiles.

MUMBAI : Temasek, the private equity (PE) arm of the Singapore government, is the front runner to acquire significant minority stake in Tynor Orthotics, a Mohali, Punjab-based medical equipment maker, according to three people with knowledge of the development. The manufacturer and exporter of orthopaedic and fracture aids, which is backed by consumer-focused PE firm Lighthouse Funds, is being valued at ₹3,000 crore, three people with knowledge of the development said. “The final bids have come in and Temasek is the front runner," the first person cited above said on condition of anonymity, adding that the other bidders who made it to the final round include global PE firms Warburg Pincus and Norwest Venture Partners.

electric vehicles, sections of EV makers said this time they wanted a subsidy policy with a definite timeline, rather than one that would be abruptly cut off like the previous one. “New changes are too sudden, especially for the automobile industry with its long lead times. We would want the new subsidy regime to last for at least two to three years to truly benefit the industry,” Amitabh Saran, chief executive of electric three-wheeler maker Altigreen, told ET. The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was originally launched in 2015 to encourage the adoption of electric and hybrid vehicles. Under it, a subsidy was provided to EV makers who used it to lower the prices of their products. The second edition, FAME-II, was introduced in 2019 and went on till March 2024 when it was scrapped. There has since been a steep slowdown in EV sales, according to a report by the Federation of Automobile Dealers Associations.

Mint. Bhargava said incentivizing EVs is good, but only incentivizing EVs alone will slow down our “national carbon reduction goals".He added that the dominance of petrol and diesel vehicles has to be reduced in favour of vehicles with alternative fuels which offer lower emissions. He expressed that the Uttar Pradesh government's directive to waive road tax on hybrid cars would negatively impact the sales of petrol and diesel cars.

But with her husband gone, eliminating his wages as a server, she was forced to earn money. She took a job at a nearby factory run by a company called All Time Plastics in Silvassa, a city about 100 miles north of Mumbai. A dozen years later, she is still there, plucking newly molded food storage containers and other household implements off a conveyor belt, labeling them and placing them in cartons bound for kitchens as far away as Los Angeles and London. Pawar earns about 12,000 rupees per month (about $150), a meager sum by global standards. Yet those wages have allowed her to keep her daughter in high school while transforming their everyday lives.

application window for the PLI scheme for white goods, including ACs and LED lights, for 90 days from July 15. The industry has an appetite to invest more under the production linked incentive (PLI) scheme, the commerce and industry ministry said. The application window shall remain open from July 15 to October 12. No application shall be accepted after the closure of the application window. In order to avoid any discrimination, both new applicants as well as existing beneficiaries of the scheme who propose to invest more by way of switching over to higher target segment, would be eligible to apply.

inflation landscape exhibited spatial variability in June 2024, with 12 out of 22 states reporting inflation rates exceeding the national average of 5.1 per cent, according to SBI research. Odisha recorded the highest inflation at 7.22 per cent, followed closely by Bihar at 6.37 per cent and Karnataka at 5.98 per cent. This divergence highlights regional economic disparities as the country grapples with rising prices. Concurrently, the Index of Industrial Production (IIP) surged to a seven-month high of 5.9 per cent in May, reflecting robust growth in mining (5.9 per cent), manufacturing (4.6 per cent), and a remarkable increase in electricity production (13.7 per cent).

Deere is laying off nearly 600 workers as the farm equipment manufacturer deals with declining demand

Mint, Alstom chief executive Henri Poupart-Lafarge detailed the company's plans to scale up domestic operations and promote the 'Make in India' initiative globally. This will soon include exporting electric locomotives made at its joint venture facility in Madhepura, Bihar. The goal is to boost both domestic and export revenues in India to over 1 billion euros (approx ₹xxx crore).

Maruti Suzuki, Apollo Tyres, Godrej & Boyce and Saint-Gobain are going the whole hog in adopting artificial intelligence (AI) in their day-to-day operations. AI has not only helped these companies reduce costs but also increase efficiencies and reduce workplace incidents.