Manufacturing Financial News

Bihar will roll out the red carpet for domestic and foreign investors at a mega event in December as it looks to lure investments in sectors like textiles, food processing and EVs that will create jobs and boost business in the state. After the grand success of the 2023 edition, the state will host the two-day Bihar Business Connect event on December 11 and 12 in Patna. And before that, it will hold roadshows in different cities, beginning with Kolkata on Monday.

capital markets regulator Sebi to float an initial public offering (IPO). The Gujarat-based company's initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP). Those selling shares under the OFS are Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP, and Mamata Management Services LLP.

growth strategy and gives the Czech firm a competitive advantage for its international expansion plans. The company’s development and manufacturing base in Pune is a springboard into Asean and Middle East.

AI) as a powerful force multiplier for small businesses is no longer a pipe dream. It is already beginning to level the playing field and is enabling emerging businesses from across India to compete more effectively.

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Ola Electric plans to invest $100 million (about Rs 834 crore) in the first phase of building its gigafactory for producing lithium-ion battery cells, founder Bhavish Aggarwal said on Saturday. He added that Ola’s electric scooters will feature the locally-produced battery cells as early as next year.

Ola Electric is working on building solid-state batteries, the chief executive officer of the SoftBank Group-backed electric scooter maker said on Saturday.

India's goods and services exports are expected to cross USD 800 billion this fiscal despite global challenges, Commerce and Industry Minister Piyush Goyal said on Saturday. In 2023-24, the shipments stood at USD 778.2 billion (goods USD 437.1 billion and services USD 341 billion).

Tamil Nadu Prohibition Act, 1937, to substantially enhance the punishment term and quantum of fine for offences like manufacture, possession and selling of illicit liquor that endangers lives. The Tamil Nadu Prohibition (Amendment) Act, 2024, which shall come into force on such date as notified by the government, aims to completely eradicate the menace of illicit liquor from the state. The amendment, coming in the wake of Kallakurichi hooch tragedy, substantially enhances the term of imprisonment and quantum of fine for various offences under sections 4,5,6,7 and 11 of the Act.

Titan Company on Saturday said it is launching its jewellery brand Tanishq in Bangladesh as part of expansion plans in the international market. On Friday, the Tata Group-managed firm signed a JV agreement to this effect with Rhythm Group which will make Tanishq available across the Bangladesh market, according to a joint statement. The joint venture will commence with the opening of the manufacturing facility in Narayanganj, in Bangladesh, it added. Besides the domestic market, Titan is expanding Tanishq's presence in the international market and operates 17 stores across the UAE, US, Qatar, Singapore and Oman.

Congress leader Jairam Ramesh on Saturday slammed Prime Minister Narendra Modi over a news report that the Adani Group has «selected eight Chinese companies to help» its solar manufacturing project and called for a strategy «to wean India of its dependence on China». He said it has to be ensured that the taxpayers' money does not benefit Chinese companies. In a post on 'X', Ramesh said, «The non-biological Prime Minister infamously told the nation on June 19, 2020, after the Galwan clashes that 'Na koi hamari seema mein ghus aaya hai, na hi koi ghusa hua hai (Neither has anyone entered our borders, nor has anyone occupied territories)'.» «However, he shows no hesitation in liberally issuing visas to Chinese workers to help one of his 'tempowallah' buddies,» he said in the post on 'X' while tagging with it a newspaper report about Adani Solar seeking Centre's nod to bring a few engineers from China.

Union Commerce and Industry Minister Piyush Goyal, expressing concerns over the extension of the Interest Equalisation Scheme (IES) for only two months and exclusively for MSMEs. Federation of Indian Export Organisations (FIEO) president Ashwani Kumar highlighted that the scheme has so far benefitted not only MSMEs but also merchant exporters and large manufacturing companies at a lower rate of two per cent for 410 tariff lines, covering labour-intensive products. The current scheme, valid till June, provides pre and post-shipment rupee export credit, offers a two per cent interest equalisation rate for manufacturers and merchant exporters dealing with specified 410 export items, and a higher rate of three per cent for MSME manufacturers exporting under any of these items.

Tamil Nadu's Virudhunaga on Saturday following an explosion at a firecracker manufacturing unit, police said. The workers were killed on the spot and the cause for the explosion and blaze is suspected to be mishandling the chemical ingredients, the raw materials, that go into the making of firecrackers, a senior district police official said.

Chips and Science Act — but their persistent failure to unite behind common-sense, bipartisan reforms to bring more skilled immigrants to the US puts this notable achievement in jeopardy. Congress passed the law in 2022 to revive domestic semiconductor manufacturing and reduce dependence on fabrication plants in East Asia. On paper, the initiative is already a success: Nearly $30 billion in subsidies and $25 billion in loans have been awarded, supporting investments of roughly $350 billion. One industry-sponsored study expects US chipmaking capacity to triple by 2032, with output of advanced logic chips rising from zero in 2022 to 28% of global production. To build and run those fabs, however, companies need workers the US doesn’t have. Shortages of skilled installers of hyper-precise chipmaking equipment have already delayed projects. The number of Americans studying in relevant graduate programs has been flat for 30 years. A third of current fab workers are 55 and older, and more than half say they’re eager to quit. The Semiconductor Industry Association says chipmakers will face a shortfall of 67,000 skilled workers by 2030.

The IPOs of Emcure Pharmaceuticals, in which shark tank fame Namita Thapar is the Executive Director and Bansal Wire will open for subscription next week in the mainboard segment, while Ambey Laboratories is the sole SME issue.

₹12,000- ₹13,000 a month, which is often barely ₹5,000 more than what they earn in their hometown. Ajit Gulabchand, chairman of engineering and construction firm HCC Ltd, noted that there was a “clear shortage of both skilled and competent workforce who are heading for not just the Middle-Eastern countries but even Russia". The chairman of the Mumbai-headquartered firm that works on highway, roads, bridges, etc., stressed on taking immediate steps to improve the gap.

In an exclusive episode of ETMarkets World View, Abhishek Banerjee ofLotusDew Wealth opens up about Indian sectors with potential, the RBI governor's stance on GDP growth, and much more. Recently, India recorded a current account surplus of $5.7 billion. What does it say? India was also included in the JPMorgan bond index recently. What key changes should we be aware of? Abhishek Banerjee: India's current account surplus is noteworthy because historically, India has been a current account deficit country, importing more than exporting. This deficit typically keeps the currency weaker to make exports more attractive and imports more expensive, which supports export-driven sectors like pharma and IT services.

Avantel, a telecom product manufacturing company, has witnessed a sustained spike in its shares over an extended period, resulting in substantial returns for investors. After a prolonged period of stagnation, the stock gained momentum in March 2023 and has since maintained a steady upward trajectory.During this period, its share price has surged from ₹26 apiece to the current market price of ₹170, marking a significant gain of 554%.

more sustainable future. A key element of this strategy is the implementation of extended producer responsibility (EPR) policies. Recent events highlight the tightrope walk companies must perform to balance environmental responsibility with business interests.

IPO) of Bansal Wire will open for subscription on July 3 and close on July 5. The company has fixed a price band of Rs 243-256 per share. At the upper end, the company plans to raise around Rs 745 crore. Investors can bid for 58 shares in one lot and in multiples thereafter.

The category reserved for non-institutional investors was subscribed the most at 94 times, followed by retail investors at 34 times and QIB investors at just over 9 times.