Manufacturing Financial News

Trezor has reported a security breach that has exposed the contact information of nearly 66,000 of its users.

Manesar and Greater Noida in the NCR and Maharashtra Industrial Development Corporation (MIDC) in Thane are among the costliest locations to acquire land for building a warehouse, with prices ranging from '15-30 crore per acre, compared to the average price of '2-5 crore per acre in other top markets in the country, according to CBRE. Supply and absorption of warehousing space reached a new high as the pandemic propelled demand for e-commerce and retail, while FMCG continued to perform well, the real estate consultancy said. Total leasing in 2023 stood at 38.8 million square feet across eight cities, CBRE said in a report. «As we envision the future of the industrial and logistics sectors, this robust growth is a testament to the sector's resilience despite global economic challenges,» said Anshuman Magazine, chairman and CEO, India, Southeast Asia, Middle East & Africa, CBRE. Total Industrial and Logistics (I&L) space supply hit a new peak of 36 million sq ft in 2023. The move towards more structured operational models in industries such as retail, FMCG, and manufacturing is spurring demand for efficient last-mile delivery solutions, leading warehousing firms to actively explore markets to meet this demand. During the year, I&L space leasing was predominantly steered by third-party logistics firms with a combined market share of about 45%. Within this sector, occupants from diverse industries such as ecommerce, retail, and manufacturing chose to outsource their supply chain operations to these firms. «Witnessing diverse occupancies in I&L leasing from 3PL, e-commerce, retail, and manufacturing sectors indicates streamlining supply chain operations.

charter plane with six people on board disappeared from radar screens over Afghanistan a day earlier, Russian aviation authorities said on Sunday, after Afghan police said they had received reports of a crash. The plane was a charter ambulance flight travelling from Thailand's Utapao Airport in Pattaya to Moscow via India and Uzbekistan on a French-made Dassault Aviation Falcon 10 jet manufactured in 1978, Russian aviation authorities said in a statement.

Hubergroup India, a global printing inks and chemicals specialist, is in discussions with various lenders, including ICICI Bank, Axis Bank, HDFC Bank, Tata Capital, Axis Finance, and ICICI Prudential Credit Fund, to borrow ₹1,500 crore in working capital, amortising funds, and bullet loans at costs ranging from 9-14%. Part of the funds will be used to buy out businesses from its German parent. «Hubergroup India, one of the largest in manufacturing globally, is borrowing money to buy out many businesses from the German parent so that the Indian entity will become the flagship entity for the group,» a source said. While talks with ICICI Bank, HDFC Bank, and Axis Bank are ongoing, the finalisation is pending.

electronics exports grew at a record 22.24% to cross the $20 billion mark in the first nine months of FY24, propelled by booming smartphone shipments, spearheaded by Apple's iPhone. According to industry body India Cellular and Electronics Association (ICEA), mobile phone exports reached $10.5 billion during April to December 2023, comprising 52% of total electronics exports. In FY23, electronics exports stood at $23.6 billion, of which mobile phones comprised $11.1 billion or 43%. Industry data showed iPhones were the single largest contributor to the surge in both electronics and mobile exports this fiscal.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Elon Musk seeks increased voting control; BYD looks to dominate Indonesian market; and Vinfast finds light in missed target.

(Reuters) -SolarEdge Technologies said on Sunday that it would lay off about 16% of its global workforce as it tries to reduce operating costs.

Tata Motors, India’s leading auto manufacturer, announced on Sunday, January 21, its decision to implement an average price hike of up to 0.7% on all passenger vehicles, including electric variants, with effect from next month. This increase will be effective February 1, 2024, and is being taken to partially offset the rise in input cost, Tata Motors said in a statement. The company is grappling with escalating input costs, despite reporting positive global wholesale growth earlier this month.

ALSO READ: Reliance Q3 Results Highlights: Jio, Retail shine; O2C revenue declines; 5 key highlights from RIL Q3 earnings Post third-quarter earnings announcement on Friday, RIL chairman and managing diRECtor Mukesh Ambani said that the “New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels." The company has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power facility at ₹5 lakh crore capex.

₹2.67 lakh in a micro-factory to ₹3.16 crore in a mega factory. These regulations may be driving an irrational location of factories. Factories should ideally go where land prices are lower.

Kirloskar Brothers Limited (KBL), a renowned Indian pump manufacturing company, is proud to announce a contribution of over 100 pumps, playing a crucial role in the temple's water management system and fire safety infrastructure. The pumps provided by KBL encompass an energy-efficient range, including monobloc pumps, self-priming pumps and pressure-boosting pumps. These pumps will ensure efficient water supply throughout the sprawling temple complex, catering to the needs of devotees and maintaining a serene ambience. Furthermore, KBL has equipped the temple with its state-of-the-art firefighting pumps.

Ram Temple in Ayodhya, Uttar Pradesh. The much-awaited Ram temple consecration will be held on Monday.

Read our full Budget 2024 coverage here While we have become the fifth largest economy, the target is to become the world’s third largest economy by 2030. Given the rapid growth in public expenditure especially in the infrastructure space, it is quite clear that the aim of the government is to do so on the back of our ambition of becoming the next global manufacturing hub, which in turn would be aided by a single-minded focus on improving logistics and other core infrastructure required by the manufacturing sector to flourish. Indian Government has rightly prioritized “Infrastructure and investment” by terming it as one of the “Sap rishi” (i.e., Key Priority) in Budget 2023.

Ford says it’s reducing production of the F-150 Lightning electric pickup vehicle as it adjusts to weaker-than-expected electric vehicle sales growth

A small airplane that crashed into the ocean off the California coast has been identified as one of tens of thousands of home-built aircraft that are part of a high-flying hobby taking off across the country

Classic Legends, which designs, manufactures and sells classic motorcycle brands — Jawa, Yezdi and BSA, is working on electric bikes and will introduce it in the Indian market when the charging infrastructure is ready, according to company CEO Ashish Singh Joshi. While the current charging infrastructure has the ability to support entry-level electric scooters or motorcycles with 50-100 km of range, for performance and intercity bikes it is not yet ready, he said. «We looked at electric at the start and we started developing our electric product.

₹745 crore through an Initial Public Offering (IPO). The proposed IPO consists solely of a fresh issue of equity shares, with no component involving an Offer-For-Sale (OFS), as outlined in the DRHP filed on Thursday. Also read: Upcoming IPOs: 1 main board, 5 SME public issues to open next week; check full list here Approximately 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Kazakhstan has 15 rare earth deposits, strategically important components of electronics and clean energy technology, and eyes for closer cooperation with international partners in harnessing the ample opportunities for these deposits, according to Chairman of the National Geological Service Yerlan Galiyev. This can meet India’s growing demands for rare earth deposits from a source which is situated closer home. India has recently entered into a deal with Argentina for sourcing rare earth metals.

Inflation in Japan slowed for a second month, giving central bankers reason to wait before ending their negative rate policy. While the data support the view the Bank of Japan officials won’t rush into the first rate hike since 2007 when they meet next week, services prices remained elevated and suggest that an eventual normalizing of policy remains on the table. Inflation expectations declined in Europe, while retail sales and consumer sentiment in the US increased.

OpenAI CEO Sam Altman has been talking to a number of potential investors in a bid to raise billions of dollars to set up a chip-making company, according to a report by Bloomberg. The 38-year-old entrepreneur is said to be looking to set up a network of factories to manufacture semiconductors. Also Read | Sam Altman addresses ‘nervousness’ around Artificial Intelligence: ‘It's on us to…' Notably, building a state-of-the-art manufacturing facility would require tens of billions of dollars in funding, and creating a network of such facilities will take years, Bloomberg reported.

Bansal Wire Industries has filed a draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an IPO. The issue is entirely fresh equity of Rs 745 crore with no offer-for-sale component. The public offer is being made through the book-building process, wherein about 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors. The company proposes to use the funds from the IPO to repay some of its debt, meet working capital requirements and for other general corporate purposes. Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume in India with a production of 72,176 MTPA and 206,466 MTPA, respectively, in FY23. The company has a diversified portfolio, catering to a wide range of sectors such as automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture and auto replacement. It manufactures over 3,000 stock-keeping units — the highest among all steel wire manufacturers in India with sizes ranging from as thin as 0.04 mm to as thick as 15.65 mm. With a well-diversified base of more than 5,000 customers spanning various sectors, Bansal Wires Industries has established a robust network that contributes to its growth. Over the years, the company has adopted a de-risking strategy, under which no single customer accounts for more than 5% of its sales, and no sector or segment constitutes more than 25% of the sales. The total income has increased at a CAGR of 28% from Rs 1,480 crore in FY21 to Rs 2,422 crore in FY23.