Manufacturing Financial News

Ather Energy, the leading electric scooter manufacturer, has introduced a new exchange program aimed at current scooter owners in Bengaluru who are interested in upgrading to the latest models, the 450X or the 450 Apex. This initiative, launched as a pilot program, targets select customers who registered for the Ather Upgrade program in January 2023. Under the Ather Upgrade program, valid until 31st March, owners of Ather 450 Gen 1 and Gen 1.5 who wish to upgrade to the 450X must complete their purchase, invoicing, and registration by 31st March 2024. Similarly, those opting for the 450 Apex have until 30th April to complete the process. Importantly, the entire transaction, including the handover of the old scooter, is expected to be completed on the same day. To participate, owners need to bring their scooter to the Ather Space Experience Center located in Indiranagar, Bengaluru. Trained personnel will conduct a thorough assessment of the scooter's condition and verify any pending traffic violations or fines. Based on these checks, Ather Energy will determine the eligibility of the owner for the exchange program.

Volkswagen India recently unveiled a range of new products at its annual brand conference. Among the highlights were the new GT Plus Sport and GT Line variants for the Taigun SUV, along with the debut of the much-anticipated ID.4 electric vehicle. The German carmaker also revamped the line structure for the Taigun, its GNCAP 5-star rated SUV. Bookings for the Taigun GT Plus Sport and GT Line variants have already begun. Revamped Line Structure for Taigun The Taigun will now be available in three trims: 'GT Edge', 'Chrome', and 'Sport'. The GT Edge variants will feature the Edge Collection with exclusive exterior colour options. The Chrome line offers a choice between a 1.5-litre, four-cylinder turbocharged petrol engine paired with either a 7-speed DSG or 6-speed manual transmission, and a 1.0-litre, three-cylinder turbo-petrol engine available with a 6-speed automatic or manual transmission. The top-of-the-line Sport trim will feature a unique blacked-out treatment and will be offered in both the GT Plus Sport and GT Line variants.

₹170 crore through preferential allotment of equity shares and warrants. Of the said plans for fund raising of ₹170 Crore, Rs.70 Crore has been raised on Wednesday, ASM Technologies said in its release. while the balance of Rs.

Hindalco Industries , Vedanta , National Aluminium (NALCO) share price rose 2-6% during the morning trades on Thursday. Though these three non ferrous stocks had corrected 9-16% from their February and March highs amidst volatility in the markets. However it is the declining raw material costs primarily that of coal that are to support profitability.

Time Technoplast, a leading manufacturer of polymer products, has seen its shares grow exponentially over the last four years, rewarding its shareholders handsomely. After facing two consecutive years of decline in CY18 and CY19, the company's shares made a sharp recovery in the subsequent year and have consistently maintained an upward trend since then. Over the last four years, the shares have grown from ₹24 apiece to the present trading price of ₹207, translating into a gain of 762%.

₹0.34 to around ₹8.5 currently. This implies a return of 2400 percent for its investors in this period. An investment of ₹10,000 in this stock in March 2022 would have turned into ₹2.5 lakh now.

Investing.com-- Most Asian currencies rose sharply on Thursday, while the dollar tumbled from two-week highs after comments from the Federal Reserve kept expectations of interest rate cuts largely in play. 

Nvidia’s graphics-processing units (GPUs), AI-modellers’ favourite type of processor, is so insatiable that they are in short supply. No matter. Nvidia announced the launch later this year of a new generation of superchips, named Blackwell, that are many times more powerful than its existing GPUs, promising bigger and cleverer AIs.

By David Shepardson

brokers are recommending to investors with a high-risk appetite to make fresh investments in such stocks or schemes that invest here. Strength in earnings growth and decline in share valuations in the mid-cap and small-cap segments following the recent drop in stock prices are some key reasons for holding them or buying them afresh. Motilal Oswal Asset Management said in a note that the valuation premium that mid-cap and small-cap indices held over Nifty has halved to 14% for both against 24% and 29%, respectively.

Existing investors such as the promoter family offices of TVS Capital, Ajanta Pharma, Pidilite, Dalmia and Dabur are likely to invest in this Category-III Alternative Investment Fund (AIF), said people in the know. The private investment in public equity (PIPE) fund has already received commitments worth ₹500 crore, they said.

By Francesco Guarascio and Khanh Vu

Georgia lawmakers have made it harder for workers at companies getting state economic incentives to unionize, in what could be a violation of federal law

Central Bank of India and Mumbai-based M Pallonji & Co are the two bidders for Future Enterprises' insurance business, having offered ₹450 crore and ₹300 crore, respectively, two people familiar with the process said. Two other bidders have offered to buy the company's manufacturing units in Maharashtra and Karnataka, these people said. Lenders had offered different parts of the company for sale after the initial attempt to sell the whole company failed to get substantial bids. Future Enterprises owes creditors more than ₹13,540 crore. Central Bank is also the largest creditor to the group with more than ₹4,000 crore of admitted claims between the bank and its arm Centbank Financial Services.

By Alexandra Alper and David Shepardson

With spring finally arriving, Canadians may eagerly consider resuming hobbies like gardening and golfing. But researchers are warning of potential health risks associated with these hobbies, especially those that heighten pesticide exposure.

startup entrepreneur dedicated to revolutionising the agricultural sector through the countrywide adoption of electric tractors, I believe that GoI’s new EV policy will herald a transformative era in this new-age industry. The policy’s provisions, including duty concessions for companies investing a minimum of $500 mn in EV manufacturing units and mechanisms to reduce customs duties on limited imports of EV products, are poised to spur innovation in the EV sector. At the core of our startup’s mission lies a commitment to sustainability, efficiency and empowerment. We envision a future where tractor owners across the country will have access to cutting-edge tech that boosts productivity while minimising environmental impact. The introduction of new EV designs aligns perfectly with our vision, fostering an environment conducive to growth and development in the burgeoning EV market. The stipulated minimum investment requirement underscores GoI’s dedication to attracting capital into the EV sector. This framework not only bolsters investor confidence but also charts a clear path for both new and established players. The surge in the number of EV manufacturers in India since 2021, which stood at 380, highlights the growing momentum in the sector.

EV policy, slashing customs duties on imported cars. This policy concession, announced ahead of the general elections, is an incentive for automobile MNCs, such as the world's largest EV manufacturer, Tesla, to make India a global hub for EVs. However, the policy comes with strings:

Quiver Quantitative — Boeing (NYSE:BA) (BA) is exploring the sale of at least two defense business units amidst its significant ongoing crisis. The aircraft manufacturer has engaged financial advisers to find potential buyers for some of its smaller units, a move that began roughly a year ago and not directly triggered by the recent accident on January 5, which has drawn extensive scrutiny towards Boeing.

Assam chief minister Himanta Biswa Sarma on Wednesday said that Assam is looking forward to new investment opportunities from Hindustan Unilever Limited (HUL) including enhanced value addition to the tea industry. Sarma stated on X, “Today in Mumbai, I had an excellent discussion with Mr. Dev Bajpai of Hindustan Unilever Limited & Mr. Prashant Mehta and Mr Saurav Sharma of Lilavati Medical Trust. Assam is looking forward to new investment opportunities by HUL including enhanced value addition to our tea industry. We anticipate an enthusiastic participation by Lilavati Trust in the State’s healthcare sector.” Sarma early this month said that within one month and without any investment summit Assam has secured Rs 80,000 Crore investment.

Biden administration is considering blacklisting a number of Chinese semiconductor firms linked to Huawei Technologies Co. after the telecom giant notched a significant technological breakthrough last year, people familiar with the matter said. Such a move would mark another escalation in a US campaign to ringfence and curtail Beijing’s AI and semiconductor ambitions. It would ratchet up the pressure on a Chinese national champion that’s made advances despite existing sanctions, including producing a smartphone processor last year that many in Washington thought beyond its capabilities.