Manufacturing Financial News

FSSAI) on Sunday said that India has one of the most stringent standards of maximum residue limits (MRLs) in the world, and that these are fixed at different levels for different food commodities based on risk assessments. MRL is the maximum amount of pesticide residue expected to remain on food products when a pesticide is used according to label directions and is not a health concern for humans, the Indian food regulator said in a press statement.

Boeing is already facing questions about quality and safety of its aircraft, and now it has a labor showdown on its hands in Seattle

Boeing has locked out its private force of firefighters who protect its aircraft-manufacturing plants in the Seattle area and brought in replacements after the latest round of negotiations with the firefighters’ union failed to deliver an agreement on ...

Pravaig Dynamics has made offers to Tesla interns, who saw their offers getting revoked weeks before their start date, inviting them to join the Silicon Valley of India that will recognize and appreciate their talents. Tech billionaire Elon Musk's latest cost-cutting victims are summer interns with his flagship Tesla Inc, rescinding offers just weeks before internships were to start. As several aspiring employees took to LinkedIn to express anguish at not being left with enough time to find replacement gigs for the summer, Pravaig offered help.

₹1.03 trillion till November 2023, resulting in production/sales of ₹8.61 trillion and employment generation of over 678,000. Third, several measures have been taken to improve the ease of doing business. These include liberalized foreign investment rules and the launch of a unified tax system, GST.

investment (FDI) in the space sector will help attract foreign players as well as startups and will boost demand for high-tech jobs, experts say. The government has eased FDI norms in the sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The provisions were notified last month. Sreeram Ananthasayanam, Partner, Deloitte India, said that the recent amendment of higher FDI limits in the space sector is a significant step towards transforming India's space program, in terms of infrastructure development.

Mahindra & Mahindra and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year. Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata Motors also witnessed the grant of 333 patents during the 2023-24 financial year. M&M said it has received a record 674 patents in 2023-24, with the majority coming in from the Indian Patent office. «We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent,» M&M ED & CEO (Auto & Farm Sectors) Rajesh Jejurikar said.

SINGAPORE—In explaining China’s recent export surge, which has alarmed business leaders and politicians in the U.S. and Europe, many have blamed the country’s lavish manufacturing subsidies and bulging industrial capacity. But there is another factor at play: China’s currency, and inflation—or its absence.

I choose one that’s a little stout, but fits snugly in my hand. “Now choose a nib." There are 14 kinds to choose from—Fine, Medium, Medium Flex, Medium Stub, Architect, Broad Ultra Flex and so on. Sensing my panic, he says, “Flex is for calligraphy really.

ARTPARK is not just a regular park in your neighbourhood. For tech enthusiasts, it’s an ecosystem fostering inclusivity and driving equitable access to artificial intelligence (AI) and robotics solutions. Established in 2020 within the Indian Institute of Science (IISc) campus in Bengaluru, ARTPARK is India’s first AI and robotics technology hub. “ARTPARK aims to develop world-class critical technologies for robotics and autonomous systems, reduce India’s import footprint in them and catalyse AI for India’s big challenges,” said Raghuram Dharmaraju, chief executive of ARTPARK. At its core, ARTPARK, a non-profit organisation, is a nexus for innovation, uniting startups, industry leaders, researchers, government bodies and non-profits. It also aims to skill the next generation of professionals in advanced manufacturing for robotics and autonomous technologies by 2025.

KKR is all set to acquire Healthium Medtech ( formerly Sutures India) from its current PE owners Apax Partners for Rs 7000 crore ($840 mn) enterprise value after a hotly contested three way race that also included a consortium of Mankind Pharma — ChrysCapital and Novo Holdings, the controlling shareholders of Danish drug major Novo Nordisk, said people aware. KKR and Apax have signed the binding agreement for the acquisition of Bengaluru based Healthium Medtech and likely to make a formal announcement as early as Monday, the people mentioned above added. Healthium is the largest manufacturer of surgical needles globally by volume. Moneycontrol was the first to report on Saturday that KKR was the highest bidder for Healthium.

Tata Group's Engineering, Procurement, and Construction (EPC) company, Tata Projects, has said that it has turned profitable. Speaking over the company result announcement, Vinayak Pai, MD & CEO at Tata Projects said the company's strategic realignment, organisational transformation and improved focus on operational efficiencies have started yielding results. «I feel proud to announce that we have returned to profitability, and we are moving forward on our path to deliver predictable and sustainable projects through innovation and technology,» he said. Tata Projects reported a profit after tax of Rs 120.57 crore for the quarter ended March 31. The company had posted a loss of Rs 366.42 crore in the year-ago period. The company's revenue from operations increased to Rs 5,412.80 crore during the March quarter, over Rs 5,015.21 crore in the year-ago period, the statement said.

Delhi…May 3, 2024…KARAM Safety, a leading global PPE player and fall protection solutions provider, is pleased to announce the successful acquisition of Midas Safety India, a prominent player in the hand protection safety products industry. This strategic move marks a significant milestone in KARAM Group's journey towards expanding its presence and enhancing its product offerings.

Groww said, "The Groww Nifty Non-Cyclical Index fund is India’s first index fund, which enables people to invest in the top stocks from consumer industries such as FMCG, Textiles, etc., These companies manufacture items we need in our daily lives and tend to be slightly more insulated from economic cycles and therefore are seen as non-cyclical sectors." Investors can invest under the scheme with a minimum investment of ₹500 per plan/ option and in multiples of Re 1. There is no upper limit for investment. Under normal circumstances, the asset allocation (% of net assets) of the scheme’s portfolio will be as follows: Debt and Money Market Instruments: The scheme will invest in debt and money market instruments.

Warren Buffett. But a key ingredient will be missing from his annual Berkshire Hathaway shareholders' meeting: It's the first since Vice Chairman Charlie Munger died. «He was the sriracha sauce in the Berkshire Hathaway meeting,» said investor Bill Smead, a regular at the event for 14 years. «He gave it a lot of flavor.»

Berkshire Hathaway Inc.’s annual meeting on Saturday: Warren Buffett should buy Boeing Co. The idea may sound outlandish on the surface because it rubs against Berkshire’s conservative nature. There’s also the sticking point that Buffett doesn’t do turnarounds and that he wants companies with strong leadership. Then again, Buffett likes to bet on American manufacturing, and he favors industries with moats. Check and check. Also, the upside for Boeing, if the planemaker can get its house in order, is huge.

spice mill in Modinagar on Thursday revealed that industrial color used to dye clothes was allegedly mixed with turmeric and chili powder to make them appear brighter. Officials from the food safety department said they found multiple packets of synthetic color with warnings of “for industrial use only” and “poisonous” printed on them. Around 200kg of turmeric and 150kg of red chili powder were seized from the premises of Annapurna Flour Mill, owned by businessman Ashok Garg. Till late on Friday evening, officials had yet to lodge any complaint against him. “When we took the spice samples in our hand, we could feel the extra gritty texture between our fingers. We don’t even allow food color in spices because they have their own color. Adding synthetic colors, which are only for industrial use, is a serious offense. It can be toxic,” said Meera Singh, the food safety officer.

Indian Air Force (IAF) on Friday received delivery of the second of the 56 C295 aircraft, which are set to replace its ageing Avro-748 fleet, the officials said. In September 2021, India formalised the acquisition of 56 Airbus C295 aircraft to replace the legacy Avro fleet of the IAF at a cost of Rs 21,935 crore. In a statement, Airbus Defence and Space said that of the total 56 aircraft ordered by the Indian customer, 16 will be produced by Airbus in Seville, Spain.

Tesla Power" to market its products, on May 3. The lawsuit, heard in the Delhi High Court, seeks damages and a permanent injunction to stop the use of the Tesla brand name, as per Reuters. During a court session this week, it was revealed that the Indian company, Tesla Power India Pvt Ltd, continued to promote its products under the "Tesla Power" brand despite receiving a cease-and-desist notice in April 2022, as reported on the court's website, the report added.

₹17,000 crore, amounting to 60-70% of its capital expenditure requirement. The loan, from a consortium led by India's largest lender SBI, will be part of a financial closure programme for Adani Petrochemicals Ltd’s coal-to-polyvinyl chloride plant, which would be India's largest PVC manufacturing facility once completed. The group had in March last year halted the project saying it had decided to hold major equipment procurement and site construction activities pending financial closure, following the Hindenburg report that had alleged financial fraud at Adani Group companies.

Also read | Input costs, election, Chinese imports to weigh on steelmakers' Q4 Similarly, the manufacturing process of engineering goods involves heat-intensive processes. Casting, forging, and welding are common processes used to shape and assemble metal components—all of which require high temperatures. Plastic materials, too, are melted at high temperatures and then moulded into desired shapes.