Manufacturing Financial News

WASHINGTON (Reuters) -U.S. President Joe Biden's administration intends to relax limits on tailpipe emissions that are designed to get Americans to move from gas-powered cars to electric vehicles, the New York Times reported, citing people familiar with the plan.

₹500 crore capital into IFCI in the second half of FY25—even though the Union budget of 2024-25 has not made any allocation—to reduce its debt and strengthen its financials, thereby easing the burden on any other entity or strategic investor involved in its restructuring. IFCI shares closed 4.58% higher at ₹54.57 on the BSE on Friday. Set up in 1948 as a development financial institution, IFCI was later turned into a non-banking finance company (NBFC).

Sapigen Biologix vaccine plant in Odisha, the first such facility in the state, will commence by May this year, officials said on Sunday. The plant at the Biotech Park in Andharua near here will have a capacity to produce 2.4 crore doses of different vaccines per day, they said. «At full capacity, this facility will be the biggest vaccine-producing plant in the country,» the Chief Minister's Office (CMO) said in a statement. It is expected to produce over 15 vaccines for various diseases, including cholera and malaria.

India very soon entailing multi-billion dollar investment besides several chip assembly and packaging units, Minister of Electronics and IT Rajeev Chandrasekhar said. In an interview with PTI, the minister confirmed that the two projects include a USD 8 billion proposal submitted by Israel-based Tower Semiconductors and the other from Tata Group. «I am happy to share this with you and you are probably the first one I'm sharing this with. In the near term, two full-blown fabs are going to come up in India. These are going to be multi-billion-dollar fabs in the 65, 40 and 28-nanometer technology and there are going to be a host of other packaging proposals that we are evaluating,» Chandrasekhar said. He was responding to a question on USD 8 billion investment proposal submitted by Tower Semiconductors and the status of India's semiconductor roadmap.

stock markets to help pay for an apartment in a big city. But in 2015 he lost $30,000, and in 2021 he lost $80,000. After that, he shut down his trading account and started investing in Chinese funds that track stocks in the United States. It's a perilous time for investors in China. Their main vehicle, so-called A shares of Chinese companies, fell more than 11% in 2023 and have continued their losses this year. Many investors have instead flocked to the exchange-traded funds that track foreign markets and that have been performing much better.

Kalki Dham Temple in Sambhal district and address a gathering there, according to a statement. The temple is being constructed by the Shri Kalki Dham Nirman Trust whose chairman is Acharya Pramod Krishnam, who was expelled by the Congress for «anti-party remarks» days after he had met PM Modi and invited him to lay the foundation stone. The inauguration programme around 10:30 am will be attended by many saints, religious leaders and other dignitaries, said the statement issued on Saturday. Around 1:45 pm, the prime minister will launch 14,000 projects across Uttar Pradesh worth more than Rs 10-lakh crore at the fourth ground breaking ceremony for investment proposals received during the Uttar Pradesh Global Investors Summit 2023 (UPGIS 2023).

₹4,499.80 apiece seen last week. Analysts suggest that power transmission and distribution, data centres, railways, metros, and locomotives will remain growth areas for the heavy electrical equipment manufacturer. In the December quarter of fiscal year 2024 (Q1FY24), Siemens secured new orders worth ₹5,971 crore, nearly a 10% increase previous year.

₹129 per share, with a face value of ₹10 per share. The issue price is 12.90 times of the face value of the equity share. The SME IPO is a a fixed price issue of ₹29.26 crores.

Taiwan, a Memorandum of Understanding (MoU) was inked on Friday, opening doors for Indian migrant workers to explore job opportunities in Taiwan. «Taiwan-India relations reach a new high! The MOU on the Facilitation of Employment of Indian Workers, signed by @TWIndia2 Rep. Ger & @ita_taipei Rep Yadav,» the Ministry of Foreign Affairs of Taiwan (@MOFA_Taiwan) announced the milestone in a post on social media platform X. The MoU is seen as a step towards mutual benefits, igniting a robust momentum for deeper cooperation between the two nations.

Hero MotoCorp CEO Niranjan Gupta anticipates a double-digit revenue surge in the domestic two-wheeler industry in the upcoming fiscal year. He suggests that the demand for premium models is likely to escalate further. The country's largest two-wheeler manufacturer, having reported a total income of ₹10,031 crore in the October-December quarter of the current fiscal year, foresees improved performance in the entry-level segment in the future.

IPOs next week: Two mainboard, 3 SME public issues to keep primary market busy In this offer-for-sale, Promoter Vishanji Harshi Gala will be the primary selling shareholder, intending to divest 3,85,200 equity shares. The remainder of the shares, totaling 2,30,800 equity shares, will be sold by Kirit Vishanji Gala (HUF), Nayna Gala, Satish Kotwani, Hemlata Dhiraj Shah, Dhiraj Nanchand Shah, Urmil Dhiraj Shah, and Rupa Sunil Mehta.

Nifty ended with weekly gains of 1.5% led by banks, auto, and IT stocks. When markets resume trading on Monday, a host of domestic and global events during the week are likely to impact them. «During a week marked by volatility, the stock market closed near its peak, with the Bank Nifty index emerging as a standout performer. Despite a rocky start, the PSU index demonstrated resilience, bouncing back from early declines. With few definitive signals this week, the market focus remains on the trajectory of the dollar index and US bond yields,» Santosh Meena, Head of Research, Swastika Investmart, said.

Electric vehicle makers in India are accelerating their search for expat talent even as the country positions itself among the world's leading EV markets. Companies such as Tata Motors, Ather Energy, Ultraviolette and Royal Enfield are looking for, or have recently brought in, expats and returning Indians for their global perspective, functional expertise in more developed markets and the ability to forge strategic partnerships. Senior talent is being recruited to head R&D, manufacturing, engineering and product management.

explosion at a fireworks factory in this district on Saturday. Tamil Nadu Chief Minister M K Stalin directed two state ministers to coordinate the rescue and relief activities. Prime Minister Narendra Modi expressed condolence over the deaths in the mishap in Virudhunagar district and announced that an ex-gratia of Rs 2 lakh from PMNRF would be given to the next of kin of each deceased. The Chief Minister said a sudden explosion in a firecracker manufacturing unit in Kundayiruppu village in Vembakottai resulted in the death of ten people — six men and four women. He has directed State Revenue Minister K K S S R Ramachandran and Labour Minister C V Ganesan to immediately rush to the spot and ensure rescue and relief activities, an official release here said.

Sheriff’s Deputy Jeremy Malone’s life ended moments after he pulled over a car without license plates by a Dollar General store in rural Mississippi last month. The driver pulled out a pistol illegally modified with a small device known as a Glock switch, which made it capable of fully automatic gunfire, according to police. Malone, a 44-year-old father of three, was killed instantly in a barrage of bullets.

The Mumbai-based precision component manufacturer of technical springs will launch its public offer which will be a mix of issue of fresh equity shares and an offer for sale (OFS).

gold closed with a gain of 0.46% at $2,013 on Friday, however, despite this the metal closed nearly 0.50% lower on the week, which is its second straight weekly loss. The ten-year US yields at 4.28% were up around 2.50% on the week, whereas the US Dollar Index was up around 0.15% on the week as it closed at 104.28.

harness groundbreaking technologies to address challenges, leading to improvements across the world. But every wave of innovation has its own set of challenges. This cycle guarantees a continuous stream of problems to be solved and fuels the fire for endless innovation.

capital appreciation by investing predominantly in equities and equity-related instruments of companies engaged in the manufacturing theme. However, there can be no assurance that the investment objective of the scheme will be realized.Also Read: NFO Alert: Zerodha Fund House launches Zerodha Gold ETF Investors can invest under the scheme with a minimum investment of ₹5000 per plan/option and in multiples of Re 1.

Karnataka Budget 2024: The recent announcement made by the Karnataka government to raise excise duty on alcohol, particularly beer, has put the spotlight on brewery stocks in the upcoming week. According to stock market experts, liquor prices are already high in Karnataka and the current Karnataka Budget 2024 proposal may have an adversary impact on liquor sales in the state in the short term.

Oppo, Vivo and Realme smartphones in partnership with Indian manufacturers Dixon Technologies and Karbonn Group, said people with knowledge of the matter. This is partly owing to pressure from the government to get local partners and benefit from the production-linked incentive (PLI) scheme for phone manufacturing, they said. The move comes despite Oppo and Vivo having a large smartphone plant each in India. These make the entire range of BBK Group brands, such as Oppo, Vivo, Realme, OnePlus and iQoo. Industry executives said Chinese smartphone companies are cautious about directly investing in their own plants for capacity expansion after increased scrutiny in the last few years, ranging from alleged customs duty and income tax evasion to money laundering. The ir bank accounts had also been frozen, forcing them to take legal recourse to ensure business continuity. Investigations are ongoing. Chinese companies came under pressure in India following the escalation in border tensions a few years ago.