Manufacturing Financial News

iPhone 16 series to arrive, rumours have already started to swirl about the expected changes the Cupertino-based tech giant may make to its iPhone 17 lineup, which will debut next year. According to a recent report from The Elec, Apple could be moving away from its current norm of using low-temperature polycrystalline silicon (LTPS) with the vanilla iPhone and Plus series.

China’s dominance in electronics exports in some key markets as manufacturers diversify supply chains away from the world’s factory to other parts of Asia, a new study shows. The impact is most pronounced in the UK and US, where geopolitical tensions with China have increased in recent years. India’s electronics exports to the US as a ratio of China’s increased to 7.65% in November last year from 2.51% in November 2021, according to London-based Fathom Financial Consulting. In the UK, the share rose to 10% from 4.79%.

₹429 crore initial public offering (IPO) of Exicom Tele-Systems was opened for subscription on Tuesday, February 27 and remains open till Thursday, February 29. The IPO received a stellar response as it was subscribed 10.02 times on the first day of issue after being fully subscribed within hours of opening, led by solid demand from retail investors. The IPO comprises a fresh issue of equity shares totaling up to ₹329 crore and an Offer for Sale (OFS) component of up to 70.42 lakh equity shares by promoter NextWave Communications.

Tech Mahindra on Wednesday said it has signed a Memorandum of Understanding (MoU) at the Mobile World Congress (MWC) 2024 with Taiwanese electronics manufacturing major Pegatron to develop private 5G solutions for global enterprises. The company said the partnership between the organizations would explore «mutually beneficial opportunities» in the fast-growing private 5G space. It said it will leverage purpose-built private 5G product portfolio marketed under Pegatron's 5G business unit, coupled with Tech Mahindra's work in large-scale 5G transformations, to provide end-to-end 5G for Enterprise (5G4E) solutions for global enterprises and manufacturing customers.

Also Read Govt to rope in PSUs for solar rooftop initiative; households can get rent According to the latest government data, power consumption in the country has risen to 1354.97 billion units (BU) during the April-January period of this fiscal year, marking a 7.5% increase from 1259.49 BU recorded during the same period in fiscal year 2022–23. The significant increase in power demand has prompted the government to revise its projections for electricity consumption. Also Read: Best renewable energy stock: KP Energy vs Inox Wind Last year, peak demand soared to 243 gigawatts, exceeding initial projections of 229 gigawatts by the power ministry.

Wipro to ‘Sell’ on unattractive risk-reward and has revised the target price on the stock to ₹440 per share from ₹430 earlier, following a sharp 34% stock upmove in the past three months. It believes Wipro stock is expensive at 21X FY2026E earnings and trades at just 6-9% discount to Infosys and HCL Technologies despite significantly weaker fundamentals. Also Read: Vodafone Idea share price falls over 4% after board approval to raise ₹45,000 crore “Wipro has materially underperformed peers such as Infosys and HCL Technologies on growth in the past several years and yet commands hefty multiple of 21X FY2026E earnings, at just a 6-9% discount.

By Amy Lv and Tony Munroe

Tata Group announced Wednesday that its new multibillion-pound UK factory to manufacture batteries will be located in Bridgwater, south west England. The £4 billion ($5 billion) plant in the county of Somerset, southwest England, will be Tata's first so-called gigafactory outside India. Agratas, Tata Group's global battery business, confirmed Wednesday that the 40 GWh factory would be built at Bridgwater's Gravity Smart Campus.

inflation and other economic data that could shed light on the possible timing of a Federal Reserve interest rate cut. As corporate earnings season winds down, investors refocused on economic data and the likely path of U.S. rates. Equities have been on a furious rally for weeks, fueled largely by enthusiasm about artificial intelligence-related stocks that lifted the S&P 500 and Dow Jones industrials to record levels while leaving the Nasdaq just short of a new high.

By Brigid Riley

The Environmental Protection Agency says 25 toxic waste sites in 15 states will be cleaned up as part of a $1 billion infusion to the federal Superfund program

Takeda Pharmaceutical is holding talks with Indian regulators to make its dengue vaccine available in the country, the drugmaker's global head of vaccines, Gary Dubin, told Reuters on Tuesday. «We are in talks with regulators and plan to start a clinical trial very soon,» said Dubin. The Japanese drugmaker plans to scale up the production of its dengue vaccine Qdenga through a partnership with Indian vaccine maker Biological E., the companies said earlier in the day.

By Karen Freifeld

By Lucia Mutikani

Exicom Tele-Systems IPO: The initial public offering (IPO) of Exicom Tele-Systems has opened for subscription on Tuesday, February 27 and will close of February 29,2024. The electric vehicle (EV) charging solution company has fixed the price band at ₹135 to ₹142 per equity share for the face value of ₹10 each for the issue. Exicom Tele-Systems IPO is a book built issue of ₹429.00 crore.

NEW DELHI : Skoda Auto is looking to double its sales in India by 2026 with the launch of its affordably priced compact SUV next year. As part of its broader plan for the country, the Czech automaker hopes to ship out as many as 100,000 cars in 2026, more than twice the number of vehicles it sold in 2023, a top company official said on Tuesday.

Godrej Appliances on Tuesday said it expects at least a 20 per cent growth in sales of air conditioners and refrigerators during the summer season. The city-based company is the fourth largest air conditioner brand with 0.7 million units sales and the fifth when it comes to refrigerators with 1.8 million sales in the country. «We expect the summer to be scorching this year after an extended winter and this should help us clock at least 20 per cent uptick in volume for both ACs and refrigerators. »Last year, our AC sales more than doubled," Kamal Nandi, executive vice president and business head at the Godrej Appliances told PTI here on Tuesday.

Indian Navy is going through a great transformation, shedding all that has been colonial, and will be a completely 'atmanirbhar' force by 2047, Chief of Naval Staff, Admiral R Hari Kumar here said. Talking to the media here after interacting with Navy veterans, Hari Kumar said the Indian Navy has achieved great heights through indigenisation and could manufacture 33 submarines and 63 ships on its own. «Our aim is to become completely atmanirbhar by 2047, and by then all the submarines, aircraft and weapons will be made in India,» the Navy Chief said. He said 75 challenges were given to the industry and received a great response from the industry. «Some of them have already got into a contract and some products have already been inducted. A lot of innovative technology and products are being developed,» Hari Kumar said.

Denim clothing giant Wrangler, which entered the Wild West of non-fungible tokens (NFTs) in 2022, is not rolling out exclusive NFC-chip integrated clothing solely for its NFT holders.

(Reuters) — Henry Schein (NASDAQ:HSIC) forecast 2024 adjusted profit below Wall Street estimates on Tuesday, as the dental products distributor expects the impact from a cyber attack it reported in October to spill into this year.

I got what looked like a nice email from Amazon last week. There were no spelling mistakes, so I figured it wasn’t a Russian bot and I could click on it. I was right. It was Amazon announcing a new initiative promoting Quebec products: “Les produits du Québec.” How the titans of globalization cower before the power of local interests!