Manufacturing Financial News

liquid rocket engine manufactured using additive manufacturing (AM) technology, or 3D printing. This engine is intended for use in the PS4, the upper stage of ISRO's Polar Satellite Launch Vehicle (PSLV). Design Innovation and Benefits ISRO redesigned the conventionally manufactured PS4 engine to make it compatible with additive manufacturing techniques, a process known as Design for Additive Manufacturing (DfAM). According to The Times of India, this innovative approach has yielded remarkable advantages.

An annual survey of more than 500 European companies has found that slowing growth in China is weighing on company plans to expand their businesses in the world’s second largest economy

The Biden administration is planning to announce new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China

Ford vehicles following complaints alleging diesel fuel leaks that may result in a fire. The National Highway Traffic Safety Administration (NHTSA) said its Office of Defects Investigation has received 27 complaints, including 12 reports of fires and a total of four injuries, and that it would investigate Ford F-250, 350, 450, and 550 Super Duty vehicles equipped with 6.7L diesel engines of model years 2015-2021.

Indian Coast Guard (ICG) and a leading industry group have joined hands for manufacturing and supply of indigenous marine-grade aluminium to the country's public and private shipyards for the construction of ships, the defence ministry said on Friday. In a statement, it said ICG and Hindalco Industries inked a Memorandum of Understanding (MoU) here on Thursday. The MoU is for the manufacturing and supply of indigenous marine-grade aluminium to Indian public and private shipyards for the construction of ships. «It will also provide benefits such as quarterly pricing, priority in supplies and turnover discount,» the statement added.

Wales First Minister Vaughan Gething on Friday said he held a «candid meeting» with Tata Steel on the issue of expected job losses at the company's Port Talbot plant in South Welsh. The First Minister, who is on a visit to India as part of the trade mission, also expressed hope that the Indian steel major, which has a «positive reputation», would take the same approach for the workers at the Welsh plant. Last month, Tata Steel announced to proceed ahead with its plans to close down the two furnaces at the plant and replace them with electric furnaces as part of its plans to go green in steel manufacturing. The proposed move could affect some 2,500 jobs in the next 18 months. But trade unions have opposed the move, and some 1,500 workers have reportedly voted in favour of an industrial action.

OTTAWA — Prominent business groups have backtracked their claim that one in five Canadians would be affected by the federal government’s proposed changes to capital gains taxation.

server manufacturer Netweb Technologies started commercial production at a new facility in Faridabad, Haryana Friday, where it would be making flagship end-to-end high-end computing server, storage, and switches. The new facility, with a capacity to turnover Rs 2,000 crore in production for the company, is capable of cutting-edge manufacturing, including designing printed circuit boards (PCBs), surface mounting on PCBs, and production of complete systems based on the latest generation chipsets from its technology partners that includes Intel, AMD, and Nvidia. It will also enable Netweb to market its products and solutions to new industry verticals, which demands critical and high-performance computing architectures. The new facility is also very well equipped in meeting demands of the ever-evolving requirement of private cloud, AI Cloud, compute data centres and more specifically AI workloads, the company said.

Vedanta plans to leverage the Tokyo-based company’s technology and manufacturing capabilities to establish its own display fabrication unit in Gujarat. The aim is to meet both Indian and global demand for electronic devices, while also fostering a local hi-tech electronics manufacturing industry. “As a wholly-owned subsidiary, AvanStrate will serve as a strategic asset for Vedanta as the conglomerate looks at playing a critical role in India’s journey towards becoming self-reliant in electronics manufacturing," said Akarsh Hebbar, global managing director, AvanStrate Inc.

NEW DELHI : India’s factory output slowed to 4.9% in March after rising to a four-month high of 5.6% in the month before, hitting the brakes on an otherwise good year. Industrial production expanded 5.8% during FY 2023-24, higher than the 5.2% expansion reported for the year prior, show data released on Friday. But the March numbers fell short of expectations.

PricewaterhouseCoopers, the global accounting firm, eliminated 60 jobs in Canada as the company braces for the fallout from the nation’s economic slowdown, according to people familiar with the situation.

India's Industrial Production (IIP) growth rate slowed to 4.9 per cent in March as against 5.7 per cent in February, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024. The cumulative growth rate for the period of April-March 2023-24 over the corresponding period of the previous year stood at 5.8 per cent.

ISRO has successfully conducted a long-duration test of its PS4 engine, re-designed for production using cutting-edge additive manufacturing (AM) techniques — also known in common parlance as 3D printing — and crafted in Indian industry, the space agency said on Friday. The new engine, now a single piece, saves 97 per cent of raw materials and reduces production time by 60 per cent, ISRO said. ISRO achieved the major milestone with the successful hot testing of a liquid rocket engine manufactured through AM technology for a duration of 665 seconds on May 9, a release from the space agency said. The engine used is the PS4 engine of PSLV (Polar Satellite Launch Vehicle) upper stage. The PS4 engine manufactured in the conventional machining and welding route has been in use for the fourth stage of PSLV which has a thrust of 7.33 kN in vacuum condition. The same engine is also used in the Reaction Control System (RCS) of the first stage (PS1) of PSLV, the release said.

human consumption and a cancer risk with long exposure. According to reports, the health authorities in Singapore and Hong Kong found cancer-causing pesticide “ethylene oxide" in these masalas above the acceptable limits.

₹67 per share. The IPO lot size for Mandeep Auto Industries is 2,000 shares. The equity share allocation for the IPO is as follows: up to 17,88,000 equity shares are available to non-institutional investors (NII), up to 17,90,000 equity shares are offered to retail individual investors, and up to 1,90,000 equity shares are available to market makers.

National Company Law Tribunal (NCLT) has admitted listed firm India Steel Works Ltd under the insolvency resolution process in an application filed by its operational creditor Stecol International Pvt Ltd. The tribunal has also appointed Vallabh N Sawana as the interim resolution professional (IRP). India Steel Works has said in its stock exchange filing that it is in the process of filing an appeal at the National Company Law Appellate Tribunal (NCLAT) for urgent relief in the matter. “This bench hereby prohibits the institution of suits or continuation of pending suits or proceedings against the corporate debtor (India Steel Works) including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority,” said the division bench of judicial member Reeta Kohli and a technical member Madhu Sinha in its order of May 8.

Stock market today: Polycab India's share price witnessed strong buying interest on Friday after the company announced its Q4 results for 2024. Beating the street estimates, Polycab India Ltd reported the highest-ever yearly and quarterly revenue and profitability in its fourth quarter results for the financial year 2023-24. This positive financial performance, coupled with the company's strong market position and growth prospects, sparked buying in the Polycab share price.

green energy sector has been on an uptrend, solar companies are being seen as the biggest beneficiary of the push towards renewables with both Ambanis and Adanis vying for a piece of the pie. Smallcap solar company Waaree Renewable Technologies has been the top gainer in the solar pack with a mind-boggling annual return of 1,318%, followed by 561% gain in WAA Solar, 393% in Zodiac Energy and 236% in SJVN.

Tata Motors: The vehicle manufacturer is set to announce its Q4 results on May 10, with expectations of strong results due to volume growth, improved performance of its British unit JLR, and favourable commodity prices. The company's consolidated net profit is projected to rise by 33% to ₹7,084 crore, and revenue is likely to increase by 15% to ₹1.22 lakh crore. The growth is attributed to expansion in JLR and positive growth in India's PV and CV divisions.

BEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China.

«I understand the importance of renewable energy and thought that everyone should adopt it,» said Narayan, 60, whose action inspired many others to do the same in the capital of Madhya Pradesh state in central India. Now, a new government scheme — unveiled before voting began in nationwide elections in April — aims to encourage more people to install solar panels on their roofs as part of India's commitment to triple renewable capacity by 2030.