Manufacturing Financial News

Indian economy recorded a faster-than-anticipated expansion of 8.4% in the third quarter of the year compared with 8.1% in the second and 8.2% in the first quarter, according to official data released Thursday. The jump in growth numbers pushed FY24 growth to 7.6%, up from 7.3% estimated in January. “Overall, the Indian economy ticks all the boxes in the right way,” said chief economic advisor V Anantha Nageswaran.

By Stephen Nellis

% growth in the December quarter, attributed mainly to a robust growth in manufacturing and construction sectors, as it maintained its status as the world's fastest-growing major economy. However, the growth during the fiscal third quarter period was a major step up from the 4.4% recorded in the corresponding period of the previous fiscal year.

₹65.88 crore initial public offering (IPO) of small and medium-sized enterprise M.V.K. Agro Food Product opened for subscription today, Thursday, February 29, 2024. The issue, which will close on Monday, March 4, has a price of ₹120 per share.

Tata Electronics’ proposal to set up a semiconductor chip fabrication unit in India, making it the country’s first pure-play foundry. The Rs 91,000-crore project will be set up in Gujarat’s Dholera district in partnership with Taiwanese Powerchip Semiconductor Manufacturing Corp (PSMC), Union communications and IT minister Ashwini Vaishnaw said in a press briefing on Thursday.

₹31,000 crore capex plan, set to wrap up by FY27, with funding mainly from internal accruals. The company will utilize 75% of the capexfor capacity expansion at Angul (Odisha), 10% is slotted for ACPP-II, 5% for coal mines and 10% for new projects. The capacity expansion at Angul plant will enhance JSPL’s crude steel capacity by over 65% to 15.9 million tonne (MT).

TAIPEI (Reuters) — Taiwan's trade-based economy is expected to grow at a faster clip in 2024 than previously forecast, as export demand for the island's high-tech products begins to recover, the statistics office said on Thursday.

Mint. To do this, the industry is seeking a production-linked incentive (PLI) scheme for component manufacturing, even as Vachani believes that contract manufacturers should start looking at how to expand their market share in order to export devices globally. “It’s important to understand that even China’s domestic value addition in manufacturing is around 45%, because even China imports nearly all of its semiconductors for mobile manufacturing.

an 8.8% annual compound growth rate in the factory automation market between 2018 and 2025 to hit the USD$368 billion mark. This means processes that once relied entirely on human brawn will be defined by precision no human could easily match. You may be curious as to how automation has moved the needle in terms of manufacturing efficiency.

SME IPO of MVK Agro Food Product opened for subscription today and will close on March 4. The company aims to raise Rs about Rs 66 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) About MVK Agro Food Product MVK Agro is an integrated sugar and other allied products manufacturing company operating from Nanded in Maharashtra. It operates a single location sugar unit having licensed crushing capacity of 2,500 TCD. In addition to sugar, the company also commercialises and sells its by-products and waste products, namely, Molasses, Bagasse and Pressmud.

investors for the IPO, Owais Metal and Mineral Processing is likely to finalise the share allotment process today. Investors can check the status of Owais Metal and Mineral Processing IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case. Follow the step by step process mentioned below to check the status of allotment.

Tata Sons chairman N Chandrasekaran said on Wednesday that the conglomerate will announce its semiconductor chip fab «very soon,» and «it will be a very big investment.» The conglomerate has taken bets for the future — be it Air India or its electronics and semiconductor play, Chandrasekaran said while delivering the 20th Anantharamakrishnan memorial lecture on «India's Leadership in a Pivotal Decade» after being conferred with the MMA-Amalgamations Business Leadership Award 2023. He did not elaborate on plans for the semiconductor fab unit. ET had reported last week that the Tata group could be exploring partnerships with either one of two major Taiwanese chipmakers — Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group — for its proposed chip fabrication plant at Dholera in Gujarat.

By David Shepardson

The Federal Aviation Administration is giving Boeing 90 days to come up with a plan to fix quality problems and meet safety standards for building new planes

(Updated — February 28, 2024 11:08 AM EST)

₹162-171, according to the data available on the stock exchanges. Also read: Platinum Industries IPO opens next week.

BARCELONA : India should beef up the quantum of its $10 billion financial incentive scheme to attract semiconductor fabrication majors, said Rahul Patel, Qualcomm Technologies’ group general manager for connectivity, broadband and networking. Patel believes India is competing against developed nations like the US, Europe, Japan, and China, who are offering incentives worth tens of billions of dollars. “India is competing against developed nations.

By David Shepardson

By Amruta Khandekar and Bansari Mayur Kamdar

₹83 to ₹87 per share. Owais Metal and Mineral Processing ltd main interest is in metal and minerals mining and processing. It engages in the manufacturing and processing of minerals including Manganese Oxide, MC Ferro Manganese, Wood Charcoal, Ferro Alloy, Quartz, and Manganese Ore Owais Metal and Mineral Processing IPO subscribed 221.18 times by 6.20 PM on February 28, 2024 (day 3).

BENGALURU : Accenture Plc will acquire Mindcurv, German IT services and data analytics firm, to expand its commercial services globally, the US company said in a release. Accenture Song, the parent company’s digital agency, agreed to acquire the Essen-headquartered IT services company for an undisclosed amount. Mindcurv provides digital services to clients in the manufacturing, retail, consumer goods, life sciences and chemicals sectors, most of whom are based in Europe.