Manufacturing Financial News

stainless steel manufacturing company Jindal Stainless on Wednesday announced a 'three-pronged' investment strategy worth nearly Rs 5,400 crore for its melting and downstream capacities. Jindal Stainless has entered into a joint venture in Indonesia for developing, operating a stainless steel melt shop that has an annual production capacity of 1.2 MTPA. “For the Indonesian SMS, the partner entity is of international repute with extensive experience in running such projects. The downstream expansion in Jajpur and acquisition of CSPL are aligned with the Indonesian SMS capacity,” Jindal Stainless said in a stock exchange filing.

Godrej clan with tangled cross-holdings in dozens of industries has proved with a harmonious split of business between the two branches of the family. When it's routine for heritage business families to fight tooth and nail over division of assets and businesses, the Godrej family is splitting its business, what it calls «realignment», in an exceptionally amicable manner. Adi Godrej and his brother Nadir will keep Godrej Industries that has five listed firms, while their cousins Jamshyd and Smita, who too are siblings, getting unlisted Godrej & Boyce and its affiliates as well as a land bank in Mumbai. Also Read: Godrej family seals terms of division; Nyrika Holkar, Pirojsha Godrej emerge key next generation leaders

renewable energy experts and industry players say. Collaborative efforts among policymakers, industry stakeholders, and civil society can accelerate the transition to net-zero emissions, paving the way for a cleaner and greener future. India's ambitious 'India Battery Manufacturing Vision' aims to achieve over 500 GWh capacity by 2035, attracting $35 billion in investments, they said. A report by the Center for Study of Science, Technology and Policy (CSTEP) highlighted that the southern states, namely Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, and Telangana, boast significant solar and wind energy potentials, collectively totaling 1,526 GW of solar energy potential and 1,124 GW of wind energy potential. However, achieving this potential requires substantial investments in strengthening the intra-region transmission infrastructure. The report suggests an investment of approximately Rs 9,245 crore by 2030, in addition to the ongoing transmission network strengthening initiatives by the Central Electricity Authority (CEA).

News18 on Wednesday amid concerns over the rare side effects of the COVID-19 vaccine. Only seven to eight individuals out of 10 lakh who receive the Covishield vaccine face the risk of experiencing a rare side effect known as Thrombosis Thrombocytopenia Syndrome (TTS) Gangakhedkar told News18. “The risk is highest when you get the first dose.

The Environmental Protection Agency has finalized a ban on consumer uses of methylene chloride, a chemical widely used as a paint stripper but known to cause liver cancer and other health problems

The scale of investment by the world’s two superpowers as they conduct a proxy war through aggressive industrial policies is epic. Given the opaque nature of China’s Communist Party government, the most cited estimate is that even five years ago, China was spending 1.7% of GDP on industrial-policy projects. That ratio has surely gone up since.

Mint. The firm has at least $1.5 billion invested in India across three strategies: primary funds, secondary transactions, and direct co-investments. “We expect a material increase in investments in India.

NEW DELHI : Services sector raced ahead in company registrations in the just-ended financial year, reflecting the rapid formalization of a segment with few entry barriers. While services accounted for 71% of the 185,300-plus new companies registered in FY24, industry made up less than a fourth, while the farm sector accounted for about 6%.

AET Displays, part of China’s Guangda Group, plans to invest Rs 200 crore in India over the next 12-18 months to expand manufacturing, strengthen local supply chain and after-sales service network, a top executive said. The LED screen maker has an assembly facility in Chennai and is currently sourcing up to 55% of its components for some products from Indian suppliers, said Su Piow Ko, vice president of AET Displays.

IT sector has pushed recruiters to bank on other industries like manufacturing, retail and auto, amongst others, to make up for lost IT business. The development has effectively swivelled the job market 180 degrees from an employee's market to that of the employer. “About 18 months ago, 80% of our placements were from the IT sector; now it is 40%," said Alok Kumar, president of Manpower, a subsidiary of recruitment firm ManpowerGroup.

The Canadian economy lost momentum in February as it grew at a slower pace than both analyst expectations and Statistics Canada’s previous prediction, increasing the pressure on the Bank of Canada for a potential interest rate cut in mid-2024.

The Federal Trade Commission is challenging patents on 20 brand name drugs, including the blockbuster weight-loss injection Ozempic

Indian Oil Corporation plans to invest ₹5,215 crore in building 1 gw of renewable energy capacity in the country. The state-run company said in a stock exchange filing on Tuesday that its board has approved the investment plan, which would involve setting up «standalone ground-mounted solar or standalone onshore wind or wind-solar hybrid projects» in a phased manner. The plan entails an equity investment of ₹1,304 crore by Indian Oil. The company plans to house its renewable energy business in a wholly owned subsidiary.

Elon Musk's vision for personal mobility is cars running on clean fuel and driving themselves. He has got the fuel bit right with battery-operated Tesla cars recharging on electricity generated from solar or nuclear energy (revealed last year in the 'nuclear diamond battery'). Musk's problem with this is, so have others.

Highways and expressways have always been the story behind the real estate sector’s growth. We have seen how the ease of connectivity has transformed the regions in and around Delhi. Over the years, there has been buzz around NH 24, Dwarka Expressway etc. The people and real estate developers have reacted to the opportunities constructively. The latest entrant to the real estate scene is the 46-km-long Gurugram-Pataudi-Rewari Highway in Haryana.

The Ministry of Railways keeps sharing captivating glimpses of the enchanting journeys offered by Indian Railways time and again. In another such tweet posted on X, formerly known as Twitter, the national transporter captured the Vande Bharat Express gliding through the picturesque landscape in Thrissur, Kerala.

Explosives Bill, 2024 in place of the Explosives Act, 1884 which it seeks to repeal. In a note for public consultation, the Department for Promotion of Industry and Internal Trade (DPIIT) has sought to increase fines for violation of provisions and further streamline the process of grant of licences. Explosives include gunpowder, nitoglycerine, nitroglycol, di-nitro-toluene, and picricacid. As per the proposed Explosive Bill 2024 bill, the Central Government shall prescribe the authority competent to grant, suspend or revoke a licence and to perform certain other functions under the new Act.

Competition Commission of India (CCI) has cleared Sanyo Special Steel’s acquisition of a 15.43% stake in Sanyo Special Steel Manufacturing India (SSMI) from Mitsui & Co, the antitrust regulator said on Tuesday. Sanyo Special Steel, a Japan-based company, sells steel products globally and has manufacturing hubs in Europe and India. It is a part of Nippon Steel Corporation Group.

Rapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first-quarter profit

Nations have made progress on a treaty to end plastic pollution at talks that have concluded in Canada

The world’s nations finished a round of negotiations early Tuesday on a treaty to end plastic pollution and made more progress than they have in three prior meetings