Manufacturing Financial News

Subscribe to enjoy similar stories. Infra.Market’s venture debt backers are exploring a $30 million secondary transaction in an extended pre-IPO round as they look to encash their stake before the company files its draft papers later this quarter, three people familiar with the matter told Mint. “Venture debt firms like Innoven Capital, Strides Ventures and Trifecta Capital are looking to offload some of their stake in the upcoming round," one of the people cited above said, adding that Alteria will also participate in the round, although they have already sold some of their stake.

safe-haven assets. However, rising prices have crimped consumer sentiment, impacting sales of the yellow metal. Gold is currently trading at ₹90,966 per 10 gm in the physical market, up by ₹1,802 per 10 gm from Friday, when India's bullion market was last open. The market was closed on Monday due to Eid.

global demand for explosives and ammunition, fed by ongoing conflicts in Europe and West Asia, has resulted in record Indian defence exports, with the figure crossing ₹23,622 crore in 2024-25. Defence exports, which have been actively promoted by the government over the past decade, grew at over 12%, with strong demand for Indian manufactured explosives like TNT, RDX and HMX in the global market. Sources said that most Indian explosives and ammunition manufacturing capacity has been fully booked for the next three years, with at least five more plants coming up within the private sector in the coming months. State-owned defence public sector units have recorded a 42.8% surge in exports, reaching a high of ₹8,389 crore in the financial year.

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI dropped to 49.0 last month from 50.3 in February. A PMI reading below 50 indicates contraction in the manufacturing sector, which accounts for 10.2% of the economy. Economists polled by Reuters had forecast the PMI slipping to 49.5. Manufacturing started turning around at the beginning of the year after a lengthy recession triggered by the Federal Reserve's aggressive interest rate hikes in 2022 and 2023 to tame inflation. But the nascent recovery appears to have been snuffed out by President Donald Trump's barrage of tariffs. Trump, since returning to the White House in January, has announced and delayed tariffs on Canada and Mexico for what he alleges is their role in allowing the opioid fentanyl into the U.S., set import taxes on goods from China for the same reason, launched hefty duties on imports of steel and aluminum and slapped a 25% levy on imported cars and light trucks. Trump promised to announce global reciprocal tariffs on Wednesday, which he has dubbed «Liberation Day.» He sees tariffs as a tool to raise revenue to offset his promised tax cuts and to revive a long-declining U.S. industrial base.

Subscribe to enjoy similar stories. New Delhi: The US has once again raised objections to India’s trade policies, including key initiatives meant to support local manufacturing, casting a shadow on ongoing negotiations between the two nations for a bilateral trade agreement.

European Union has a «strong plan» to retaliate against tariffs imposed, and set to be imposed, by U.S. President Donald Trump, although it would prefer to negotiate a solution, EU executive chief Ursula von der Leyen said on Tuesday. The Trump administration put in place tariffs on imported steel and aluminium in March and higher duties on cars will take effect on Thursday. Trump will also set out plans for «reciprocal tariffs» on Wednesday. Von der Leyen said she understood U.S. arguments that others had taken advantage of global trade rules, adding the EU had suffered too. She also said she understood the U.S. wanted to re-industrialise, as does the EU. However, she said U.S. tariffs were taxes on its consumers that would fuel inflation and make American factories pay more for components, costing jobs. «Our objective is a negotiated solution. But of course, if need be, we will protect our interests, our people, and our companies,» von der Leyen said in a speech to the European Parliament in Strasbourg.

IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) valued at Rs 1,500 crore, according to the Draft Red Herring Prospectus (DRHP) filed on March 30. The OFS comprises sale of shares worth Rs 1,430 crore by promoter Kamlesh Jain and Rs 70 crore by shareholder Mayank Pareek.

Subscribe to enjoy similar stories. No matter how high the inflation is, their demand is inelastic. No matter how slow the current profit growth is, these companies spend on research and development (R&D) for future growth.

Hindustan Aeronautics Ltd (HAL) shares will be in focus on Tuesday after the company signed a Rs 62,700-crore contract with the Ministry of Defence for the supply of 156 Made-in-India Light Combat Helicopters (LCH) Prachand for the Indian Army and Air Force. The deal, cleared by the Cabinet Committee on Security, marks India's largest-ever defence procurement. In June 2024, HAL received an order for 156 Light Combat Helicopters. Out of these 156 helicopters, 90 will be allocated to the Indian Army and 60 to the Indian Air Force. These helicopters are manufactured at HAL's Tumukru plant in Karnataka.

HBL Engineering shares will be in focus on Tuesday after the company secured five contracts worth Rs 762.56 crore from Central Railway for the provision of Kavach. With this, the total value of Kavach contracts won by the company this year has reached Rs 3,618 crore.

Subscribe to enjoy similar stories. New Delhi: India's electric vehicle (EV) battery makers could face collateral damage from the Trump tariffs, as foreign manufacturers unload cheap batteries here just as the local companies were ramping up production. India’s fast-growing EV market could absorb the diverted supply and drive down costs for local automakers, experts said, adding that also spells trouble for companies such as Amara Raja Energy & Mobility Ltd, Exide Industries Ltd, Reliance Industries Ltd and Ola Electric Ltd, which are investing billions to build battery plants.

Subscribe to enjoy similar stories. US President Donald Trump has imposed a stiff 25% tariff on imported cars, trucks and parts that go to make them. The move, ostensibly, is to revive domestic manufacturing.

electric buses under the PM E-Drive scheme to cover more cities without increasing the budget allocation. The Centre currently offers a subsidy of ₹20-35 lakh per e-bus, depending on the carrying capacity and specification of the vehicle. According to officials aware of the development, Surat, Pune, Hyderabad and Bengaluru have together raised a demand for more than 15,000 units. This is well above the scheme target to subsidise 14,028 e-buses with a funding support of ₹4,391 crore. «The newly formed Delhi government is expected to raise a significant demand for e-buses. Orders from Ahmedabad, Mumbai, Chennai and Kolkata are awaited as well,» a senior official told ET, while adding that the government may lower the per e-bus subsidy for catering to more cities.

Tea Board of India on Monday. This was possible due to concerted efforts from the central government, the Tea Board, and all the stakeholders in the Indian tea industry. During 2024, North India (Assam and West Bengal) exported 154.81 Million Kg with a value realization of Rs 4833.12 crores, while South India exported 99.86 million kg with a value realization of Rs 2278.31 crores. North India’s contributions stood at 60.79% in quantity terms and 67.96% in value terms, whereas South India’s contributions stood at 39.21% in quantity terms and 32.04% in value terms. Meanwhile, the Tea Board of India is all set to celebrate its 72nd Foundation Day on April 1, 2025.

Renault Monday said it will acquire alliance partner Nissan’s stake to fully control manufacturing operations in India run by JV Renault Nissan Automotive India Private Limited (RNAIPL). Renault will acquire the 51% stake in the manufacturing operations currently held by Nissan, post which RNAIPL will become its wholly-owned subsidiary. Nissan will continue to utilise the manufacturing infrastructure, even after it exits the JV company. Renault will contract manufacture existing and new models scheduled to be launched in the country by Nissan over the next two years, both for domestic and exports markets, till the end of life of these vehicles.

Subscribe to enjoy similar stories. As speculation swirled last month about how auto tariffs would hammer foreign carmakers, Mercedes-Benz Chief Executive Ola Källenius had a ready answer. “We’re also an American company," he said, highlighting the carmaker’s 11,000 U.S.-based workers and that two of his three children were born in the country.

«Over the next four years, we aim to achieve Rs 1,000 crore in revenue by expanding our capabilities, diversifying our product portfolio in the appliances segment, and driving innovation through R&D,» Bajaj told PTI. The company, which operates two manufacturing units at Greater Noida, UP, had a revenue of Rs 409 crore for the financial year that ended on March 31, 2024 and expects to end the current fiscal year around Rs 470 crore.

Subscribe to enjoy similar stories. A Harley-Davidson isn’t cheap, no matter where you buy it. But if the European Union imposes a 50% retaliatory tariff on the company’s motorcycles in April, prices could reach astounding heights in Harley’s second-largest market by sales.

Subscribe to enjoy similar stories. India has emerged as the world’s fastest-growing major economy. Its macroeconomic fundamentals are sound, corporate balance sheets have strengthened and the health of its financial sector has improved.

salary increments in 2025, with hikes surpassing 10 per cent, according to a report by EY. The report highlighted that despite a slight moderation in salary growth across industries, the digital commerce sector will continue to offer competitive pay increases. It said «the e-commerce sector is expected to witness the highest salary increments, surpassing 10 per cent, driven by the rapid expansion of digital commerce, increased consumer spending and technological advancements».

Authorities have looked in recent months to revive confidence in the Chinese economy, grappling with a prolonged property sector crisis and now under increasing pressure from fresh trade tensions with the United States. The Purchasing Managers' Index — a key measure of industrial output — came in at 50.5 in March, according to the National Bureau of Statistics (NBS), above the 50-point mark that separates growth and contraction. The reading for March was up from February's 50.2, and the highest in twelve months. Manufacturing was boosted by workers' return to work after the traditional Spring Festival travel period in February and the fact that «enterprises' production and operating activities accelerated,» NBS statistician Zhao Qinghe said in a statement.