Manufacturing Financial News

Authorities say a truck driver has been killed after a tank holding waste material depressurized at a Phoenix facility that is being built for a Taiwanese semiconductor giant

acquisition of Haifa port in Israel, which has pounded Gaza after a shock attack by Hamas, sparked the Norges decision. A fourth of India's total cargo is handled by APSEZ, which owns a total of 14 ports including in Israel, Australia and Sri Lanka. An email sent to Norges seeking comment went unanswered.

₹8,500 crore of capital through either the equity or the debt route even as the metals and mining major declared its interim dividend for the year that will make a dent of ₹4,089 crore in its coffers. Vedanta will issue a dividend of ₹11 per share and has set 25 May as the record date. The company also announced the investment of an undisclosed sum in its Saudi Arabian unit Vedanta Copper International VCI Co.

India’s biggest asset management company SBI Mutual Fund has announced the launch of its new thematic fund – SBI Automotive Opportunities Fund.

Mint. “As the MvPI is an important programme for reporting of adverse events, coordinated analysis etc., related to the medical devices including in-vitro diagnostic devices, therefore, all licence holders should also use the MvPI platform for reporting of any adverse or serious events associated with the devices to enhance the procedure for identifying risk associated with such equipment," he said. The DCGI said that post market surveillance (PMS) of medical devices is important to ensure safety and performance of medical devices and allows regulatory authorities to take appropriate measures to mitigate risks and safeguard public health.

non-fossil fuel to 50 per cent in the country's total installed electricity generation capacity by 2030, MNRE Secretary Bhupinder Singh Bhalla has said. The share of non-fossil fuel-based capacity in India's installed energy generation capacity is around 42 per cent at present, the official said in a address at the World Hydrogen Summit 2024 in Rotterdam, Netherlands, on May 15, 2024, the Ministry of New and Renewable Energy said in a statement. «Approximately 43 per cent of India's current installed electricity capacity is from non-fossil-fuel sources, with projections indicating a rise to 50 per cent by 2030,» he said. As per official figures, there was a 10.79 per cent rise in non-fossil fuel-based capacity (renewable energy sources) addition at 190.57 gigawatt (GW) in 2023-24 over 172.01 GW in 2022-23.

Chinese electric vehicles (EVs) have sent a scare in the US and Europe. Many have predicted doomsday scenarios. The Alliance for American Manufacturing has said that government subsidized Chinese EVs “could end up being an extinction-level event for the U.S. auto sector". Earlier this year, Tesla CEO Elon Musk told industry analysts Chinese EVs are so good that without trade barriers, “they will pretty much demolish most other car companies in the world.” The US has decided to shield itself from the Chinese EV onslaught. President Joe Biden has announced a series of new and increased tariffs on several Chinese-made goods. He quadrupled the tariff on electric vehicles made in China from 25% to 100%. Chinese lithium-ion batteries for electric cars will now face a 25% tariff, up from 7.5%. Since many European car makers manufacture in China and sell in Europe, they are appealing against similar tariffs on Chinese EVs. Also Read: China may dump EVs, batteries into India with higher US tariffs: GTRI

Anand Mahindra said, "Vineet was a larger-than-life figure in the Indian Business landscape." He said Vineet was a "distinguished IAS officer" who served with the World Bank and the became the first Chairman of GAIL. “He provoked us to create what will perhaps be one of the most important legacies of our Group," he said. Sharing a glimpse of Vineet's journey, Mahindra said he made a successful transition to the private sector becoming the Managing Director of HCL Corporation Ltd, and the Vice Chairman of HCL Technologies Ltd.

software firm Zoho is planning a foray into chipmaking and seeking incentives from the federal government, two sources with direct knowledge of the proposal said, with one of them pegging the investment plan at $700 million. Zoho, established in 1996 and now headquartered in India's Tamil Nadu, offers software and related services on subscription to businesses in 150 countries, competing with the likes of Microsoft and Salesforce.

investment of Rs 12,000 crore into its electric business MEAL over the next three years, the company said in a stock exchange filing on Thursday. The company and its auto division expects to generate sufficient operating cash to satisfy its capital investment needs and is currently not looking to raise additional capital, it said. Further, M&M and BII have agreed to extend the timeframe for the final tranche of the latter's planned investment of Rs 725 crore, the company said. So far, BII has invested Rs 1,200 crore while Temasek invested Rs 300 crore in Mahindra Electric Automobile Limited (MEAL). Temasek will invest the balance Rs 900 crore as per agreed timeline, M&M said.

Saudi Arabia. The facility is strategically located at Al Jubail, off the Dammam-Abu Hadriyah Highway. L&T Valves is one of the largest suppliers of on-off valves to Saudi Arabia, the company said in a statement.

The biopharmaceutical industry has been evolving rapidly. During the turbulent period spanning 2019 to 2021, amid the upheaval caused by the covid pandemic, it emerged as a focal point of global discourse. Biopharmaceuticals are drugs and therapies synthesized from living organisms, which includes vaccines, biologics, biosimilars and evolving therapies like cell and gene therapies.

₹5.54 crore and entirely a fresh issue of 11.55 lakh equity shares. HOAC Foods IPO price band is ₹48 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹144,000.

Stock market today: Rushil Decor board has declared to increase its global footprint. As per the exchange filing by Rushil Decor Ltd, the company board has decided to strengthen its footprint in the South American market through expansion. This strategic move is expected to boost the company's revenue and market share, potentially leading to a positive impact on its stock performance.

Hindustan Aeronautics Ltd, which is primarily engaged in the design, development, manufacture, repair, and overhaul of aircraft, helicopters, and their engines, is a key player in the Indian defence industry. HAL share price today opened upside at ₹4215 apiece on NSE and touched an intraday high of ₹4,269 per share during Thursday deals. While climbing to this intraday high, HAL shares also made a new lifetime high.

₹321.6 crore in the December quarter, against a net loss of ₹401.3 crore a year earlier. With its ambitious expansion plans across the green energy ecosystem, ReNew has been looking at options to raise funds both through asset sale and debt financing. In February, Mint reported that ReNew Energy Global Plc is in talks with Singapore’s Sembcorp Industries Ltd to sell solar energy projects totalling 350 megawatts (MW), with the deal estimated to be valued at around $241 million at the enterprise level and around $121 million in terms of equity.

New tariffs on Chinese electric vehicles and batteries, solar cells, medical equipment and other goods are intended to protect U.S. jobs and manufacturers

The Justice Department says Boeing has violated terms of a deal that allowed the giant aircraft manufacturer to avoid prosecution for fraud in 2021

Morocco has grown its automotive industry from virtually non-existent to Africa’s largest in less than two decades

Titagarh Rail Systems FY24 Dividend: Titagarh Rail Systems announced its January-March quarter results for fiscal 2023-24 (Q4FY24) and also declared board recommended a dividend of 40 per cent for the previous financial year on Wednesday, May 15. ‘’Recommendation of dividend of 40 per cent (i.e. Re.

NASA has unveiled its plan to construct the first lunar railway system, designed to offer reliable, autonomous, and efficient payload transport on the Moon. In its official blog, NASA said that this durable, long-lasting robotic transport system will be essential for the daily operations of a sustainable lunar base envisioned for the 2030s, as part of NASA’s Moon to Mars initiative and mission concepts like the Robotic Lunar Surface Operations 2 (RLSO2). «Moreover, NASA has proposed a solution for transporting regolith mined for ISRU consumables (H2O, LOX, LH2) or construction materials, as well as for moving payloads around the lunar base and to/from landing zones or other outposts,» NASA added. The agency introduced FLOAT — Flexible Levitation on a Track — to address these transportation needs. The FLOAT system utilizes unpowered magnetic robots that levitate over a 3-layer flexible film track. This track comprises a graphite layer for passive floating using diamagnetic levitation, a flex-circuit layer for generating electromagnetic thrust to propel robots along the tracks, and an optional thin-film solar panel layer for power generation when exposed to sunlight.