Manufacturing Financial News

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Li Auto and Enphase Energy, downgraded for GlobalFoundries, American Express, and Albemarle.

₹2 lakh for every certification to encourage drone manufacturing in India. NTH Ghaziabad has received interest from 12 drone manufacturers for type certification of their models, the first person said, wishing not to be identified. Following the NTH certification, the directorate general of civil aviation will issue licences to drone makers, allowing them to manufacture an unlimited number of drones.

Coveted worldwide for their style, design and durability, but shut out of the Indian market over quality rules: That’s the paradox facing French luxury brands like Louis Vuitton, Dior and Christian Louboutin trying to sell their exquisite footwear in India. Footwear imports by these brands and others have faced hurdles after the government’s quality rules mandating the application of BIS standards for imported footwear, including embossing ISI marks on all footwear sold in India took effect in July 2023, three people aware of the matter said. Under the quality control order (QCO) on footwear, no company can manufacture, import, distribute, sell, hire, lease, store or exhibit any product in the country without the ISI mark.

₹25,938-crore production-linked incentive (PLI) scheme for the sector have sought clarification on whether the investment timeline has been extended in line with the one-year extension of the scheme, according to industry executives. To align with the extended incentive disbursement period, companies have urged the government to also extend the investment timeline of the scheme by a year. The five-year PLI scheme for advanced automotive technologies (PLI-AAT), as it is formally known, was extended by a year in late December, after none of the participating companies could avail of benefits in the first year of the scheme ending March 2023 (FY23).

Xiaomi, which has the biggest share in India's smartphone market at 18%, also asks in the letter dated Feb. 6 that India consider offering manufacturing incentives and lowering import tariffs for certain smartphone components. The Chinese company assembles smartphones in India with mostly local components and the rest imported from China and elsewhere.

employees to return to the office, a majority of workers interviewed feel that it will be difficult for them to adapt to this transition, according to a report. There is an apprehension among employees regarding the adaptation to the work-from-office module, and 69 per cent of respondents have expressed concerns about the potential challenges associated with this transition, a report by staffing solutions and HR services provider Genius Consultants said. However, 25 per cent of employees showcased resilience and confidence in their ability to navigate and adapt to the renewed office environment, it added.

Indian Express reported on Sunday. “Tower is looking to manufacture 65 nanometre and 40 nanometre chips in India which may be used in a number of sectors, including automotive and wearable electronics," said the report. In October 2023, minister of state for electronics and IT Rajeev Chandrasekhar had met with Tower Semiconductor’s chief executive officer (CEO) Russel C Ellwanger to discuss its partnership with India in the chip manufacturing space.

During the event, when asked about her recent interest in investing in startups, Namita Thapar said, “So my father is a first-gen entrepreneur, and we run Emcure Pharmaceuticals. We're going to go public in 3 months so watch out for that big IPO."

₹500 crore and an offer-for-sale (OFS) of up to 1.56 crore shares by promoters and investor shareholders. The individuals and entities participating in the OFS include Suresh Tyagi, Jimmy Tyagi, PI Opportunities Fund-I, and Kotak Special Situations Fund. Additionally, the Delhi-based company is contemplating raising ₹100 crore through a pre-IPO placement, which would result in a reduction of the issue size if executed.

Workers have turned out hunting rifles, shotguns, carbines, revolvers and more at the Remington plant in upstate New York for about two centuries

Indian space sector is changing from a «closed» and «secretive» society to an open one and the objective behind it is to turn it into an economic or business activity instead of government programme, ISRO Chairman S Somanath said here on Saturday. The change in mindset has been influenced by how space-related activities in countries like the USA have been turned into an economic activity, Somnath said while speaking at the Mathrubhumi International Festival of Letters (MBIFL) 2024 being held at Kanakakunnu Palace here. The ISRO Chairman said that in the past 60 years, the work of the space sector — from making rockets to satellites — was aimed at societal application, for delivering services that benefit the common man. As a result, the budget of the space programme was «very less» — Rs 10,000 crore, he said during a session of the fifth edition of the MBIFL.

Vande Bharat trains in the coming years, railways minister Ashwini Vaishnaw said at the Global Business Summit on Saturday. «The challenge was to develop it (Vande Bharat) in our country by our own engineers and the challenge has been taken very well. I can say with a good level of confidence that in the coming years, we would start exporting this train,» said Vaishnaw, who also holds the communications, and electronics and information technology portfolios. The minister said the feedback on Vande Bharat has been good but more improvements will be done on the trains. «Work has already started on another version of the train, the Vande Sleeper,» he said.

Bengaluru-based Ola Electric became the first two-wheeler EV-maker to become eligible for the PLI scheme as its S1 Air scooter received DVA. The two products are now eligible for various subsidies offered by the government for the next 5 years.

Mint, Dr. Hanif Qureshi, additional secretary, heavy industries, said that the move will be effective immediately on all fresh sales, and not retrospectively.

electric vehicles and EV Battery Manufacturing Project. This ambitious initiative will unfold across two cities in Odisha.

iPhone 16 lineup, promising significant enhancements over its predecessors. Firstly, the iPhone 16 Pro and Pro Max are rumored to boast larger displays, potentially reaching unprecedented sizes of 6.27 and 6.86 inches, respectively, setting new benchmarks for screen real estate on iPhones. Furthermore, a notable design shift is anticipated with the introduction of a vertical camera layout in the base models of the iPhone 16 series.

Uttar Pradesh Legislative Assembly on Saturday gave its nod to the Uttar Pradesh Lift and Escalator Bill, 2024 and Uttar Pradesh Lokayukta and Up-Lokayukta (Amendment) Bill, 2024. With the Bill in place, now it will be mandatory to obtain registration for installation of lifts and escalators. Meanwhile, the second Bill was also passed under which a provision has been made to reduce the tenure of the Lokayukta and the Up-Lokayukta from eight years to five years.

₹40,000 crore investment. Through this MoU, the group made public its strategic entry into the state amid competitive offers from other states. This announcement is also a key component of the company’s plan to manufacture electric vehicles.

Supply chain disruptions continued to dominate headlines with geopolitical conflicts escalating in late 2023. As recent events in the Red Sea illustrate, crystal gazing is hard, especially when it comes to supply chains, which are impacted not only by geopolitics but also economic volatilities and climate disruptions that threaten a seamless functionality. Needless to say, embedding stability and resilience in supply chains remains key concerns of stakeholders worldwide. So, with another year unfolding, here are some trends that will reshape supply chains in 2024. 1.

Trump ballot disqualification bid gets sceptical US Supreme Court reception "Every single Biden attack on gun owners and manufacturers will be terminated my very first week back in office, perhaps my first day," Trump said in a speech to thousands of supporters at the Great American Outdoor show in Harrisburg, Pennsylvania. Donald Trump not immune from prosecution in 2020 Capitol attack case The NRA enthusiastically backed Trump during the 2016 race and throughout his administration, cheering him on as he appointed three conservative justices to the Supreme Court and adopted a series of steps sought by the influential gun lobby.

Latest data from 2,257 companies listed on the National Stock Exchange (NSE), collated by Primeinfobase, show that just 45 of them have a woman in the chief financial officer or director-finance role. That number was 24 in March 2019 and 31 at the end of March last year.