Manufacturing Financial News

Car rental company, Hertz Global Holdings Inc (NASDAQ:HTZ) revealed Thursday that they have decided to sell approximately 20,000 electric vehicles from its U.S. fleet, one-third of the global EV fleet.

FOX Business’ Grady Trimble speaks with manufacturers in Iowa about their economic concerns less than a week away from the state’s caucuses.

British Private equity firm Apax Partners has started the process to sell Healthium Medtech, the largest homegrown surgical sutures manufacturer, said multiple people aware of the development. The proposed sale is expected to value the company at ₹6,500-₹7,000 crore ($850 million), said sources. Healthium (formerly Sutures India) is the fourth largest surgical suture manufacturer in the world and the second largest in the country with a market share of about 18%.

India is poised to play a pivotal role in the post-pandemic world order. As the world’s fastest growing large economy, India’s strong fundamentals have positioned it to move from fifth place to third in terms of economic size by 2030. Therefore, it is no surprise that it has built strong commercial relationships with countries across the world and has become a magnet for inbound investments.

Shares of electric vehicle giant, Tesla (NASDAQ:TSLA) are trending down more than 1.5% in pre-market trading Thursday morning after it was announced that the company notified workers at its California car plant of pay increases across its US factories.

2024 Creta exhibits a more robust appearance in contrast to its predecessor. The outgoing model had a rounded profile, while the new version appears more squared-off. Notable enhancements include fresh LED lighting elements, a lightbar, a redesigned grille, skid plate, and bumper.

₹10 billion ($120 million) to commit to giving away a quarter of their wealth. Governments are doing their part to encourage giving, too. In Singapore, a financial hub where many well-off Asians store their wealth, the government has used a series of tax incentives to promote the city-state as a centre for philanthropy.

Tata Group's investment for the fab manufacturing in Gujarat will be «very big» and a Cabinet note seeking approvals for the project will be moved «very soon», Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Thursday. Speaking at the biennial Vibrant Gujarat Global Summit here, Vaishnaw said the Tatas' proposed investment is important because it will be serving a wider spectrum of opportunities, right from fab to OSAT (Outsourced Semiconductor Assembly and Test). Vaishnaw said the fab proposed in Dhooera will be a semiconductor chips manufacturing factory, which will be a «very big investment».

₹21.5 in January 2021 to around ₹134 currently, rallying almost 525 percent in 3 years. This implies that an investment of ₹10,000 in this penny stock in January 2021 would have turned into ₹62,500 this year. The stock has rallied in January so far, up over 13 percent, after a 6 percent fall in December 2023.

NEW DELHI : India is considering import duty cuts on components key to producing high-end mobile phones, two government officials said, which would potentially be a boost for companies like Apple and the country's exports. Companies in the sector have been pushing for cuts on nearly a dozen components to reduce the cost of making smartphones in India and level up the playing field with regional competitors such as China and Vietnam. India's electronics and information technology ministry is firming up the proposal, including the size of the duty cuts, and hopes it can be included in the federal budget on Feb.1, one official said.

₹1,250 crore to set up operations in the state and support Micron's semiconductor plant. Work on setting up the plant will start in March, Vaishnaw added.

BEIJING — China's Ministry of Commerce said Thursday the U.S. is weaponizing export controls and using them as a tool.

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Jyoti CNC Automation fell sharply in the unlisted market on Thursday despite a robust response for the IPO. The issue was subscribed 12 times so far on the last day of the bidding process. The company's shares are trading with a premium of Rs 45, down from 75 the previous day.

Australian Premium Solar India opened for subscription on Thursday. The issue, which closes on January 15, is getting solid response from investors with the overall subscription at nearly 12 times within hours of opening.

Maruti Suzuki India Ltd entered the passenger car market four decades ago with the Maruti 800, a milestone in aspirational vehicles. Born out of a joint venture between Suzuki Motor Corp. and the Indian government, this collaboration has endured and evolved.

Federal regulators are extending the grounding of some Boeing jets after an Alaska Airlines plane lost a side panel last week

₹1,000 crore (approximately) after it raided Polycab group, a prominent wires, cables, and electrical items manufacturer, according to an official statement by the Ministry of Finance. The I-T sleuths initiated search and seizure operations last year in December. The search action was conducted at more than 50 premises located in Mumbai, Pune, Aurangabad, Nasik, Daman, Halol and Delhi.

TOKYO—China’s near-monopoly on the solar-energy market has prompted the U.S. and allies to step up the search for workarounds. Engineers believe they have found one in a type of solar cell that looks and feels like camera film.

Jyoti CNC Automation IPO: The initial public offering (IPO) of Jyoti CNC Automation Limited opened for subscription on 9th January 2023 and it is going to close on 11th January 2023 i.e. on today evening. Hence, investors have just one day in hand to apply for the public issue.

Kunj Bansal, NISM, says “the benefit of investment into the core areas, into the infrastructure, into highway, into manufacturing will get passed on in terms of increased standards of living, higher earning standard of people, higher earnings, increased disposable income and things like that which will result into increased consumption.” If we have to become the third largest economy, which are the sectors that will be the biggest contributors in the next leg of growth? Kunj Bansal: For any economy to grow sustainably over a period of time, investments are very critical into the infrastructure areas, capital goods and manufacturing. Of course, these will be the critical areas where a lot of investments will have to go in. The derived impact of these automatically comes from the consumption areas. So the benefit of investment into the core areas, into the infrastructure, into highway, into manufacturing will get passed on in terms of increased standards of living, higher earning standard of people, higher earnings, increased disposable income and things like that which will result into increased consumption. So that obviously will give a boost subsequently to consumer durables, consumer goods, textiles, passenger vehicles, two wheelers and things like that. Having said that, let us also not forget that India, while the contribution to the GDP from agriculture is third in terms of ranking, we have highest from service then from manufacturing and from agriculture around 20%.