Manufacturing Financial News

everything rally" effectively encapsulates the exceptional performance witnessed across most asset classes in the past year. Notably, stocks, oil, and even gold saw double-digit percentage gains, with bitcoin also making significant strides. Among emerging markets, the Indian stock market stood out, reaching new heights, a development buoyed by the government's concerted efforts to promote emerging sectors such as data centres, green hydrogen, and semiconductors.

electoral bonds was Megha Engineering & Infrastructures Limited (MEIL), which spent over ₹1,200 crore in donations to political parties, according to data made public by the Election Commission of India. Between April 2019 and November 2023, the Hyderabad-based group shelled out ₹1,232 crore — some of it directly and some through its associated companies. MEIL spent ₹966 crore, while its offshoots Western UP Power Transmission Co Ltd, SEPC Power, and Evey Trans Pvt Ltd spent ₹220 crore, ₹40 crore, and ₹6 crore, respectively. The combined expenditure puts the Megha Group second on the list of donors, with only Future Gaming having spent more than the infrastructure company.

chargeMOD', has announced its expansion plans and said it will deploy 1,200 more EV chargers across India and 600 more in Kerala. The company, in an announcement made earlier this week, said it was planning to set up an additional 1,000 slow chargers and 200 fast chargers across various states in India and to establish an additional 500 slow chargers and 100 fast chargers in Kerala. It said this was excluding the existing 1,500 charging stations in Kerala and 2,000 stations across India. 'chargeMOD' is set to introduce Ultra Fast Chargers with capacities ranging from 120 kW to 340 kW, further enhancing charging speeds and convenience for EV users across the country, the company said in a release.

Prime Minister Narendra Modi on Saturday said that over 1 crore households have already registered for the solar rooftop scheme PM-Surya Ghar: Muft Bijli Yojana. «Outstanding news! In about a month since it was launched, over 1 crore households have already registered themselves for the PM-Surya Ghar: Muft Bijli Yojana. Registrations have been pouring in from all parts of the nation,» PM Modi posted on X. The Prime Minister further said that Assam, Bihar, Gujarat, Maharashtra, Odisha, Tamil Nadu and Uttar Pradesh have seen over 5 lakh regulations.

The recent decline in Boeing (NYSE:BA) stock has been a cause for concern among investors and industry experts alike, prompting closer scrutiny of the various factors weighing on the stock. Against this backdrop, the sale of shares by a congressman has emerged as a focal point, raising questions about the timing of the sale. It also prompts the question of whether Boeing's stock decline will extend further.

Tesla, including a drastic cut in customs duty, as an incentive to set up manufacturing facilities in the country. The contours of the Scheme to Promote Manufacturing of Electric Passenger Cars in India are in line with a persistent demand from the Elon Musk-led company to lower India’s 70% import duty on cars if it was to establish a plant in India. The policy allows a sharply reduced rate of 15% customs duty for up to 8,000 EVs annually imported by a company that commits to Make in India. According to the policy document, carryover of any unutilised annual import limits will be permitted. The finance ministry notified the lower duty rate on Friday. “Companies setting up manufacturing facilities for EVs will be allowed a limited import of cars at lower custom duties,” said heavy industries minister Mahendra Nath Pandey.

the sudden plunge of a LATAM Airlines plane flying to New Zealand. Boeing said Friday it recommended that airlines inspect the cockpit seats the next time they perform maintenance on their 787s. The aircraft manufacturer pointed to instructions that include how to disable motors that move the seats.

EV makers to test the Indian market while they make up their minds on local manufacturing. This was a sticking point in negotiations with Tesla, which wanted import duties lowered as a precondition to investing in the country. GoI was clear that it would not permit dumping of cars manufactured in China.

Piyush Goyal on Friday exuded confidence that the country will emerge as a 'Vishwa Shakti' (global power) in electric vehicles with the introduction of the newly unveiled policy. Tatas, Mahindras or «anybody from the world» can now come to India and create an ecosystem aligned to the EV sector, Goyal told reporters here. The EV policy, which promises duty concessions for EV makers investing a minimum of USD 500 million, is reportedly aimed at attracting leading EV makers to set up a base in the country. «We are now inviting companies from the world over to come to India, the production of EVs should expand in India at a quick pace and we should emerge as a Vishwa Shakti (global power),» Goyal said, speaking on the decision announced a few hours earlier from the national capital.

By Gertrude Chavez-Dreyfuss and Iain Withers

REC Power Development and Consultancy and BHEL on Friday inked an initial pact to form a special purpose vehicle (SPV) for developing utility-scale renewable energy projects. Renewable energy projects of 10 MW or more are referred as utility-scale projects. REC Power Development and Consultancy Limited (RECPDCL) is a wholly owned subsidiary of state-owned REC Ltd. The SPV will be benefitted by the core engineering expertise of BHEL and infrastructure investment expertise of REC, a statement said.

finance ministry on Friday notified the lower 15 per cent duty rate on the import of electronic vehicles (EV) of a minimum value of USD 35,000, subject to certain conditions, announced under the EV policy. Currently, EV imports attract 100 per cent Customs duty. Earlier in the day, the Heavy Industries Ministry had notified a 'Scheme to promote manufacturing of electric passenger cars in India', under which import duty concessions would be given to companies setting up manufacturing units with a minimum investment of USD 500 million. Following that, the finance ministry notified that EVs of a minimum value of USD 35000 can be imported at 15 per cent duty up to year 2031 by companies that set up manufacturing facilities under the scheme.

external affairs minister S Jaishankar said India has begun to take manufacturing seriously, adding that the world's perspective towards the country's technological landscape has changed in the past decade. Speaking at the ET Awards in Mumbai, the minister said, «India is beginning to take manufacturing seriously. Without manufacturing, no one will take you seriously on technology,» he said.

investment of Rs 4,150 crore or around $500 million. and allowing investors three years to set up local manufacturing for EVs with domestic value addition (DVA) of 25% by the third year and 50% by the fifth year. “The policy is designed to attract investments in the e-vehicle space by reputed global EV manufacturers,” the commerce and industry ministry said in a statement. The customs duty of 15% (as applicable to CKD units) would be applicable on vehicle of minimum CIF value of $35,000 and above for five years subject to the manufacturer setting up manufacturing facilities in India within a 3-year period.

₹275.85 on 4 March, the excitement has fizzled out. While the JV is a win-win situation for both the partners, a deeper look at the contours of the deal suggests that benefits will accrue only gradually. BHEL will hold a 49% stake in a JV that will set up an ammonium nitrate manufacturing plant.

Reliance Industries, was the third largest donor to political parties using electoral bonds. It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24 but Reliance said the company is not a subsidiary of any Reliance entity. Electoral bond purchases and donations by Qwik Supply were behind Rs 1,368 crore of Future Gaming and Hotel Services — another little-known lottery company — and Rs 966 crore of Hyderabad-based Megha Engineering & Infra, according to information uploaded by the Election Commission on its website. Publicly available information describes Qwik Supply as a manufacturer of warehouses and storage units. The unlisted private company was incorporated on November 9, 2000 with an authorised share capital of Rs 130.99 crore. Its paid-up capital is Rs 129.99 crore.

The SME IPO of KP Green Engineering opened for subscription earlier today and will close on March 19. The company aims to raise about Rs 189 crore through the SME IPO and list the shares on BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 488026.51 Crore) operating in Construction sector.

promoters buy shares in their own company, investors consider it positive. Promoter buying usually indicates that the company may be undervalued or that promoters know something big is going to happen, so they lap up shares beforehand. It means that the promoters, who built the company from the ground up, are once again putting their money on the line.

Chinese automakers seeking global growth are building more car factories in overseas markets, as foreign regulators mull imposing measures against imports of China-made electric cars. Chery Auto is holding talks with the Italian government to manufacture there, Reuters reported on Wednesday. Should the talks succeed, Chery would be among the first Chinese automakers with a European manufacturing presence. The growing clout of China car exports has been causing friction with the U.S. and Europe. Here's what Chinese automakers are planning:

By Trevor Hunnicutt and Alexandra Alper