Manufacturing Financial News

EMPS). They also need to provide a three-year or 20,000-km comprehensive warranty to two-wheeler buyers — and an 80,000-km warranty on three-wheelers — to be eligible for the scheme. EMPS replaces the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME II) programme. “The manufacturers’ comprehensive warranty will have to cover the EV battery, the most crucial component of the vehicle, besides ensuring that there are adequate facilities for after-sales service for the life of sold vehicles,” a senior government official told ET.

Gulf Oil Lubricants India is looking to acquire charge point operators (CPOs) and companies in intelligent grid technology space as part of a strategy to become a leader in the electric vehicle charging ecosystem, top executives said. «We are looking at the complete value chain. From manufacturing to research and technology,» said Mike Jones, CEO of Gulf Oil International, a London-headquartered Hinduja group firm. «We started from one end of the value chain by manufacturing EV chargers and are now looking to move to the rest as we want Gulf to be around for another 100 years,» he told ET. The intelligent or smart grid technology is a combination of hardware chargers and software to boost efficiency of electrical grids or networks by enabling bi-directional communication. Smart grids allow a car to send energy to various recipients using digital technologies, sensors, and software to better match the supply and demand of electricity in real time.

₹2 per litre across all states. The fuel price reduction comes one week after cooking gas or LPG (liquified petroleum gas) prices were slashed by ₹100 per cylinder ahead of the schedule announcement of Lok Sabha elections 2024. State-run oil refiners such as Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL), and Hindustan Petroleum Corp Ltd (HPCL) and oil explorers such as Oil and Natural Gas Corp (ONGC), Oil India, and others may witness a slide in their respective stocks as the reduction in retail rates passed on to consumers may hurt the refining margins and inventories of the companies.

The returns by S&P BSE Capital Goods index in FY24 so far have been 64% versus 23% by S&P BSE Sensex.

Investing.com — U.S. futures edged higher Thursday, as investors awaited the release of more inflation data, looking for clues as to when the Federal Reserve will start its rate-cutting cycle.

Nirmala Sitharaman said that Northeast region of our country has transformed into the driving force of our nation’s development. Sitharaman participated in Indian Institute of Technology-Guwahati Viksit Bharat Ambassador Dialogue held at the institute. The developmental dialogue centered around the topic of the Prime Minister of India’s 'Viksit Bharat 2047' goal, aimed at transforming India into a developed nation by 2047, marking 100 years of independence. Delving into India's ambition to achieve developed nation status by 2047.

Scheme 2024 shows the government's continued thrust on vehicle electrification as it is indispensable on a long-term basis to fortify the case for an EV ecosystem, industry experts said on Thursday. Ministry of Heavy Industries has announced the new scheme to promote e-mobility in the country with an outlay of Rs 500 crore for four months beginning April 2024. The new scheme is for 2-wheelers and 3-wheelers. Commenting on the government's decision, Srikumar Krishnamurthy, Senior Vice President and Co-Group Head — Corporate Ratings, ICRA said the scheme is a favourable move towards the acceleration of the electrification pace in the country. «The EMP scheme reflects the government's continued thrust on vehicle electrification, although the quantum of subsidy is seen lower in line with expectations,» he said.

₹300 crore’ in this round, sufficient to complete the project, Narayan said. The proceeds will help the company focus on sales, marketing, manufacturing and securing a US-FDA approval for its manufacturing plant. The pre-revenue target company started in 2013 and was first incubated in the Indian School of Business.

NEW DELHI : Novartis India, the local arm of Swiss pharma giant Novartis AG, is in discussions to secure a distribution partner for the imminent launch of Asciminib, the first-in-class treatment for chronic myeloid leukemia (CML) targeting the ABL myristoyl pocket (STAMP), Amitabh Dube, the company's country president and managing director, said. “Innovative therapies introduced over the past two decades have revolutionized treatment for people with CML, a serious and life-threatening blood disorder. Novartis, known for developing targeted therapies for CML, is now launching Asciminib, the first CML treatment that works by specifically targeting the ABL Myristoyl pocket," Dube told Mint in an email interaction.

Gopal Snacks, the manufacturer of popular snack items, made another disappointing debut on the exchanges on Thursday. For context, three out of the last four D-Street debuts have been in the negative and even the positive debut of Bharat Highways was just 3% above the offer price.

Bengaluru: As one goes around India's tech hub, what catches the eye most these days is how the language of the land, Kannada, gets "prominence" on the signboards of businesses. A far cry indeed from the not-too-distant past when English held sway, thanks to a government directive. With the deadline for complying with 60 per cent use of Kannada in signboards of businesses and establishments coming to an end, a vast majority of them in the city appear to have obeyed the mandate, with many even going for stopgap arrangements, aimed at ensuring compliance. A bill mandating 60 per cent use of Kannada in signboards of businesses and establishments was passed by the Karnataka Assembly in February, and the government had warned that non-compliance would lead to the cancellation of the licences of businesses. Now, temporary boards or banners instead of boards that are rules compliant, and also clothes or stickers covering the old boards, can be seen at several places in the city, in a bid to avoid fines and other penal action.

By Rajesh Kumar Singh

Transformers & Rectifiers India have been a goldmine for investors, as they have been delivering consistent returns with each passing year. The shares, which were trading at a value of ₹6.95 apiece in April 2020, have zoomed 4633% to trade at the current value of ₹330 apiece. Each year since CY20, the stock has yielded returns of over 50%, with CY23 seeing the highest yearly gain at 314%.

JSW Steel, Jindal Steel and Power, Steel Authority of India share prices have declined 5-12% during last one week . While the market sentients remain weak, the correction in share prices also has been led by a regular decline in steel prices. Channel Checks by various Brokerages suggest Steel prices in the country have dipped to multi- month lows BNP Paribas Channel checks suggest that the domestic hot rolled coil (HRC) prices that have been falling since September 2023, reached ₹52,700 a tonne during the week ending March 6, 2024, down ₹900 a tonne week over week.

Shashank Srivastava, Executive Director, Maruti Suzuki India Ltd, says “the transformation of Maruti Suzuki is one of the biggest achievements of the company. Of course, we have contributed hugely to the Indian manufacturing sector. We are the leaders in the automobile for the last 40 years of its existence. But it goes beyond that and this transformation actually started coming in from the time in maybe the early 90s when you had that liberalisation era. A lot of other manufacturers came in.” On the first Maruti car ever sold to a customer Shashank Srivastava: The first car was sold to a Sikh gentleman, Harpal Singh. And he used to work in Indian Airlines. This car was handed over to him by none other than the then Prime Minister, Ms Indira Gandhi. This was taken from that customer in 2010, restored, and we have it here. It is very emotional not just for me, but for all employees here.

Wholesale inflation eased to a four-month low of 0.2% in February compared with 0.27% in the previous month, despite an increase in food prices as input cost pressures remained benign, data released Thursday showed. “Overall, the wholesale price inflation trajectory is broadly reflective of benign input cost pressures. The easing in food prices has now faded, thus, the trajectory of cereal prices needs to be watched for signs of persistence,” said Rahul Bajoria, MD & Head of EM Asia (ex-China) Economics, Barclays. Economists indicate that correction in global commodity prices has kept inflation in check and the trend is likely to continue in the coming month as well.

Troubled electric-vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running out of cash this year, hired financial adviser FTI Consulting and the law firm Davis Polk to work on a potential filing, the people said. The car company reported last month that it had $273 million in sales last year and over $1 billion in debt.

KIKUYO, Japan—It was a signature feat for the country that made industrial policy famous. In less than two years, an $8.6 billion semiconductor factory on a plot the size of 40 football fields sprang up amid the cabbage fields here. The Japanese government, eager to boost the country’s standing as a chip-making hub, provided more than $3 billion in subsidies for Taiwan Semiconductor Manufacturing and helped round up thousands of workers to construct the buildings.

With mortgage rates causing stress for many Canadians and rents across the country on the rise, many are looking for creative solutions for the housing crisis.

Hindustan Copper, a state-owned company engaged in mining copper ore in India, saw its shares zoom 6% to ₹249 apiece in today's early trade, snapping a 5-day losing streak after copper prices rose sharply as investors bet on a drop in global supply. On Wednesday, copper prices surged to their highest level in 11 months, climbing by 3.1%, following a meeting in Beijing where officials from at least 15 Chinese plants discussed potential measures, including the possibility of production cuts.

Shyam Prakash Jain, Ajmer, Rajasthan Before we understand what are manufacturing mutual funds we should first understand what are sectoral mutual funds. Sectoral mutual funds are a type of equity mutual fund that invests in a specific sector or industry of the economy, such as banking, technology, pharma, energy, etc. These funds aim to capitalise on the growth potential and opportunities of a particular sector by investing in the stocks of the companies belonging to that sector.