Manufacturing Financial News

Adani Green Energy Ltd. has executed a power purchase agreement with Solar Energy Corporation of India to supply 1,799 MW of solar power, the company said in an exchange filing on Monday. With this, Adani Green has completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender it was awarded in June 2020. «AGEL has progressed on the commitments of the SECI manufacturing-linked solar PV tender, including setting up 2 GW of PV cell and module manufacturing facilities,» the company said adding that AGEL has already commissioned a solar PV cell and module manufacturing plant with a capacity of 2 GW per annum through its associate company Mundra Solar Energy Ltd (MSEL). The plant is located at Mundra, Gujarat.

BANGKOK (Reuters) — Major Japanese auto manufacturers will invest 150 billion baht ($4.34 billion) in Thailand over the next five years, a Thai government spokesperson said on Monday, supporting the Southeast Asian country's transition to making electric vehicles.

₹1,008.59 crore, which comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares. The IPO was priced within the band of ₹808–850 per share. Also Read: Happy Forgings IPO allotment out.

Year-ender 2023: In a remarkable shift, the Indian government's strategic transition from being a net importer to a net exporter has propelled the country's defence sector to new heights. The Ministry of Defence marked a historic year in 2023, witnessing a surge in defence exports, reaching an unprecedented ₹16,000 crore in the financial year—almost ₹3,000 crore more than the preceding year. Concurrently, defence production crossed the monumental milestone of ₹one lakh crore for the first time.

Also Read: Murugappa family settles disputes and differences with Valli Arunachalam, withdraw legal proceedings Among group stocks, Wendt India has emerged as the top performer, with a return of over 80%. The company is a leading manufacturer of super abrasives, machining tools, and precision components. In the current year so far, the stock has soared from ₹7,570 apiece to ₹13,921, resulting in a gain of 84%.

– By HDFC Asset Management Company Limited 

wealth management race for leveraging the maximum out of UHNIs/family offices' investments, the entity that often loses the most is the investor. To understand this misaligned thesis better and identify the path towards a more investor-aligned process, it is imperative to observe the entire ecosystem and study its evolution over time. India, a developing economy, has only recently started witnessing a splurge in the population of the wealthy, and thus, the industry that manages this population’s wealth is also at its very nascent stage, hardly 30 years old. This implies that the value chain of wealth management is still far from reaching its most efficient state.

electric vehicle (EV) sector is an area many individuals are betting on for a successful career. However, it’s important to learn the in-demand roles and skills, the courses to pursue and other such details to future-proof careers in the EV sector. Nimish Trivedi, CEO and Co-founder, Evera, an all-electric cab service company, says the rapid growth in EVs has resulted in diverse employment opportunities, in various segments. Positions requiring expertise in computer science, software development, data science, and engineering are pivotal in designing, manufacturing and implementing safety systems in electric vehicles; so these skills are in high demand.

last Budget before general elections, Santosh Singh, fund manager of Motilal Oswal AMC, doesn't anticipate a multitude of significant announcements to be made. Apart from his expectations from the interim Budget and government's focus on manufacturing and development, he deconstructs the stupendous spike shown by the market and its likely reasons. Among many positive things likely to happen next year, the IT sector is expected to beat the expectations, says Santosh Singh in an email interview with Mint.

China and brought blizzards in its wake, sending temperatures towards historic lows. 1)The temperature recorded at Beijing's Nanjiao weather station rose to above zero degrees Celsius on Sunday afternoon for the first time in days, state media Beijing Daily reported. 2)According to Beijing Daily, since the temperature first dropped to below zero degrees on December 11, the temperature has remained below that line for more than 300 hours.

Henan are facing a winter heating supply crunch after a cold wave swept through a swathe of areas, bringing blizzards and sending temperatures to near historic lows. Persistent cold snaps have put thermal power suppliers under strain in Jiaozuo, a city in Henan, with a breakdown of heating boilers in one of the major suppliers leaving some areas in urgent need of more heat supply.

MUMBAI , NEW DELHI : Tata Steel Ltd is looking to capture India’s infrastructure boom by doubling the manufacturing of long steel products used in construction over the next six years, a top company executive said. Currently, three-fourth of its capacity is in flat steel, used in automobiles and consumer goods. The company will boost capacity at its recently acquired Neelachal Ispat Nigam Ltd (NINL) to 5.5 million tonnes per annum (mtpa) from the present 1 mtpa, said Ashish Anupam, vice-president, long products at Tata Steel.

₹8,900 and ₹12,500, respectively, the brand aims to offer a luxury and distinctive drinking experience. The initial release comprises a limited batch of 1,000 cases, focusing on markets in Maharashtra, Goa, and Haryana. South Seas plans a gradual expansion into other regions, aligning with its commitment to maintain exclusivity and quality.

hiring in 2024. Top companies like L&T, Tata Steel, PepsiCo, Airtel, ITC, among others, told ET that their hiring plans are on track for the coming year mostly due to expansion of existing operations, bringing cheer to the otherwise muted job market. This is at a time when most players, especially the IT firms, are cutting down hiring numbers, especially at the entry level. Hiring for this bunch will largely be focused on women to improve gender diversity; sustainability; and entry level talent from the campuses apart from lateral hiring. Overall, the hiring momentum for 2024 will likely be the same as 2023 and in some cases, even more. Hiring momentum will continue in 2024 because of the growth and expansion plans at Tata Steel to reach 40 million tonnes capacity by 2030, said Atrayee Sanyal, VP, human resource manager, Tata Steel.

Northern and northeastern parts of the country have experienced a record-breaking chill since last week, with some areas in the northeast hitting minus 40 Celsius (minus 40 Fahrenheit) and below as biting cold air flowed down from the Arctic.

NEW DELHI : As the government looks to bring electricity under goods and services tax (GST), the Union power ministry is looking at its likely impact on the industry, states’ revenue and household electricity bills. Electricity is one of several commodities like petrol, diesel and natural gas that have so far remained out of the purview of GST. Audit and consulting firm Deloitte, which was appointed to analyse the impact of the move, submitted a report to the power ministry that showed the move would benefit industry by lowering its outgo in levies.

₹11,885 in July-September 2017 will be the equivalent of ₹15,806 by April-June 2023. Therefore, the actually observed average earnings of ₹13,347 in the later period is actually a decline of 15.5% in real terms.

₹19,744 crore National Green Hydrogen Mission with an aim to produce 5 million tonnes green hydrogen annually by 2030. Apart from encouraging projects for the usage of green hydrogen in sectors such as railways and shipping and supporting research and development, the mission has also allocated ₹17,490 crore for incentives under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programmes to boost production of green hydrogen and electrolyzers.

Wall Street closed its eighth straight winning week with a quiet finish following reports showing inflation on the way down and the economy potentially on the way up

American electric automaker Tesla’s plans to produce energy-storage batteries in China are moving forward with a signing ceremony for the land acquisition for a new factory in Shanghai

One of the world’s largest electrical vehicle manufacturers, China’s BYD, will open its first European EV production factory in Hungary, the country’s foreign minister said on Friday