Manufacturing Financial News

Azad Engineering is one of the key manufacturers of qualified product lines supplying to global original equipment manufacturers in the aerospace and defence, energy, and oil and gas industries. The company makes complex and highly-engineered precision forged and machined components that are mission and life-critical and hence, some of their products have a zero parts per million defects requirement. Also Read: Happy Forgings IPO opens for subscription. Should you apply? Azad Engineering IPO review: Should you bid? Despite on-par valuation with peers, analysts advised investors to subscribe to the issue over the company's strong financial track record and superior outlook on growth. «The company has a solid track record, a strong business plan, and management experience that has produced positive results in the past.

Ford Motor Co. unexpectedly abandoned plans to sell its Tamil Nadu plant, its sole remaining factory site in the country, after finalising a deal with the Sajjan Jindal-led JSW Group recently, said people with knowledge of the matter.

JK Tyre: The company has launched a QIP to raise funds. The floor price of ₹358.96 is a 5.2% discount to Tuesday's closing price. The company may offer a 5% discount on the floor price at its discretion.

delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal that brought down one of Japan's biggest brands and ushered in a buyout and an uncertain future. The conglomerate is being taken private by a group of investors led by private equity firm Japan Industrial Partners (JIP) which also includes financial services firm Orix, utility Chubu Electric Power, and chipmaker Rohm. The $14 billion takeover puts Toshiba in domestic hands after protracted battles with overseas activist investors that paralysed the maker of batteries, chips, and nuclear and defence equipment.

Aequs may soon make its new line of Marvel toys for India as well as for the countries in the Middle East, people in the know told ET. The company has signed a contract with Stone Sapphire, licensee for Disney in India, to design and manufacture collectible pullback cars in Marvel superhero colours. The design process began 18 months ago, and the new car versions in the colours of Captain America, Black Widow, Spiderman, and 33 other Marvel characters will be available in the markets across India this Christmas. The company plans to expand the existing range even more before proceeding to the next phase, Aravind Melligeri, the US-based founder of Aequs, told ET.

Embassy REIT Global private equity firm Blackstone Group plans to sell its entire stake in Embassy Office Parks REIT through a mega block deal on Wednesday, according to news reports Tech Mahindra Mohit Joshi assumed the office of Managing Director and CEO of the company effective December 20. Nippon AMC IndusInd Bank is likely to sell up to 2.86% equity in Nippon AMC through block deals on Wednesday, according to reports. Read more: Here's the trading setup for today's session Glenmark Life The Competition Commission of India has approved the acquisition of majority shareholding of Glenmark Life Sciences by Nirma. BPCL The Board has approved a proposal for setting up Polypropylene (PP) unit, for production of Polypropylene at Kochi refinery at gross project cost of Rs 5044 crore. Apollo Tyres Global private equity major Warburg Pincus on Tuesday sold a 4.5% stake in leading tyre manufacturer Apollo Tyres for Rs 1,281 crore through multiple block deals. Varun Beverages The company has signed a memorandum of understanding with the Jharkhand government for its proposed manufacturing plant in Patratu with a total capital outlay of Rs 450 crore.

₹1,008.59 crore from the IPO that comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares. Happy Forgings IPO price band has been set at ₹808 to ₹850 per share. Happy Forgings is a manufacturer of heavy forgings and high-precision machined components.

₹740 crore from the public issue that will conclude on December 22. Headquartered in Hyderabad, Telangana, Azad Engineering supplies its products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas industries. Its products are highly engineered, complex, mission-critical, and vital.

startups, young minds come together and manifest how creativity, innovation, and hard work can transform the way they work across various industries in the country. Startups are buzzing with ideas and energy, reflecting the optimistic outlook of the nation.

₹26,000 crore production-linked incentive scheme for automobiles and auto components from the next fiscal year, Union minister for heavy industries Mahendra Nath Pandey said in a written reply to Parliament on Tuesday. Mint had previously reported that automakers were skeptical about being able to complete the process to claim incentives under the scheme within this year.

The Competition Commission of India (CCI) on Tuesday said it cleared Nirma’s acquisition of majority shareholding of Glenmark Life Sciences Ltd. The combination relates to the acquisition of majority shareholding of Glenmark Life Sciences Limited by Nirma Ltd.

By David Shepardson and Valerie Insinna

NEW DELHI : Two-wheeler sales are speeding again. At least that’s what production data and retail sales in the festive months of September, October and November show. Does it mean the segment, hurt by income disruptions during covid, is back on its feet? Mint explains.

CCI) has approved Ahmedabad-based detergent-to-cement conglomerate Nirma's acquisition of a majority stake in Glenmark Life Sciences (GLS), the competition watchdog said in a statement. Nirma in September has agreed to acquire 75% of Glenmark Life Sciences (GLS) in a deal valued at Rs 5,651.5 crore, or Rs 615 per share. The deal is Nirma’s biggest bet in the pharmaceutical sector. The acquisition will trigger a mandatory open offer to all public shareholders of GLS for an additional 17%. Nirma's spokesperson couldn't be reached. Glenmark's spokesperson declined to comment. GLS is into manufacture of active pharmaceutical ingredients (APIs) and contract development and manufacturing organisation (CDMO) business. Nirma, an unlisted company, was set up by Karsanbhai Patel in 1969 who sold his low-priced detergents in Gujarat as a door-to-door salesman.

Varun Beverages Ltd (VBL), one of PepsiCo’s largest franchise bottlers worldwide, announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly-owned subsidiaries at an enterprise value of Rs 1,320 crore, on Tuesday. The proposed transaction is valued at an enterprise level of ZAR 3 billion (Rs 1,320 crore) and will help it expand its geographical footprint in the African market, the company said in a stock exchange filing. BevCo, which has franchise rights from PepsiCo Inc, in South Africa, Lesotho and Eswatini, manufactures and distributes licensed PepsiCo and own-branded non-alcoholic beverages in South Africa.

NEW DELHI : Vikram Solar Ltd has signed a retainer letter with the US International Development Finance Corporation (DFC) for $200 million in funding for its 3 GW cell and module manufacturing plant at Gangaikondan in Tamil Nadu. The letter was signed at the recently concluded climate conference in Dubai, Vikram Solar said in a statement.

₹220.8 crore by selling shares to anchor investors on December 19, a day prior to the IPO launch. Prominent investors, including Abu Dhabi Investment Authority, Nippon Funds, ICICI Prudential Mutual Fund, Kotak Mahindra Trustee, Tata MF, Eastspring Investments, Bandhan MF, HDFC Life Insurance, Bajaj Allianz Life Insurance, and Max Life Insurance, expressed keen interest in the company.

finance ministry on Tuesday said tax reforms, a sharp hike in capital spending “without weakening fiscal discipline” and robust public digital infrastructure are among a raft of steps initiated by the Modi government that would help India emerge as a $5-trillion economy. In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary said India is projected to become the third-largest economy in FY28 with a gross domestic product (GDP) of $5 trillion (from about $3.7 trillion in FY23), citing the International Monetary Fund’s forecast. Taxation measures “Direct tax measures such as the restructuring of the corporate tax rates, reduced tax litigation and removal of tax uncertainties have considerably reduced the compliance burden and resulted in high growth of revenues,” he said. Similarly, indirect tax measures include the implementation of Goods and Services Tax (GST), which has realised the goal of the One Nation, One Tax and OneMarket, expanded formalisation of the economy and ensured a high collection of GST revenue, Chaudhary added. The sharp hike in the government’s capital expenditure—from Rs 4.1 lakh crore in FY21 to the budgeted Rs 10 lakh crore in FY24 (BE)—has supported growth and also initiated the crowding-in of private sector investment, he said.

As 2023 draws to a close, investors are shifting their focus to the upcoming fiscal year.

The Nova Scotia Securities Commission, along with Halifax Regional Police and the RCMP, have issued a warning to be vigilant when investing in cryptocurrency “as residents continue to lose substantial amounts of money to crypto-related scams.”

credit cards. Interest payments on credit cards carry 18% GST. So, your monthly instalments are not made up of just principal and interest but also carry 18% GST charged on the interest component built into the instalment.