Manufacturing Financial News

NEW DELHI : Apart from a stable regulatory and policy regime, transparency in decision-making and information flow are key to attracting foreign investors to emerging economies such as India, said Matthew Stephenson, head of investment and services at the World Economic Forum. Foreign investors are keen on emerging markets, especially India, at a time of slowing global growth, but want the right information before making a decision, Stephenson said, speaking with Mint on the sidelines of the World Investment Conference 2023. “You can’t calculate your costs if you don’t have information.

IndusInd Bank and IT companies such as Infosys. Meanwhile, among the top picks are also Hero MotoCorp, Piramal Enterprises, and Zomato (being a new addition to the list). Going ahead, the brokerage predicts a turning point in the rate cycle, with the Fed's dovish comments indicating three rate cuts in CY24.

Israeli hostage abducted from music festival found ‘murdered in captivity’ In 2022, the Gonjeshke Darande group hacked a major steel company in the southwest of the country. A cyberattack on Iran’s fuel distribution system in 2021 paralyzed gas stations across the country, leading to long lines of angry motorists. The hacking group claimed responsibility for the attack on fuel pumps.

green energy business to supply the equipment India will need for its green energy revolution, according to analysts. «For solar, RIL can reach 100GW of installation by 2030, which is 36% of the total 2030 India solar capacity of 280GW. For batteries, it could also achieve a similar market share of 36% with a battery capacity of 50GWh versus expected battery capacity of 139GWh in 2030.

Iran's gas stations went out of service on Monday following possible sabotage — a reference to cyberattacks, Iranian state TV reported. The report said a «software problem» caused the irregularity in the gas stations. It urged people not to rush to the stations that were still operational.

Sailesh Raj Bhan, CIO, Nippon India Mutual Fund, says: “Logistics is one space which post-GST has become a scalable, large, all India opportunity which is possible. This is directly available to us. Second area is while pharmaceuticals might seem to have done well over the last 20 years, the same opportunities as young as it was maybe a decade back because the country itself is changing, the demographics are changing, the scale itself is changing there. Within manufacturing or energy transition, the power side, the activity levels in India could be way higher and way different in the next 7-10 years. That will throw in a lot of activity on transmission and power networks. Bhan also says: “These spaces appear to be extremely attractive and the most commonly talked about luxury space in India because of what is really happening in the upper end, the top 10% of India behaving exactly like how the high-income countries globally behave.” Everyone is smiling this year, do you think the smiles will last for 2024 as well? I think the micro conditions have significantly improved and policy continuity is also being anticipated by the market.

2024 is going to be a significant year for Maruti Suzuki in India as they have a series of new launches planned. Among them is the much-awaited next-gen Swift, which was recently introduced in Japan and will soon make its way to Indian roads. Additionally, Maruti Suzuki will also be unveiling the highly anticipated eVX electric SUV.

Innova Captab on Monday fixed a price band of Rs 426-448 per share for its Rs 570-crore initial public offering (IPO). The issue will open on December 21, and conclude on December 26, the company said. The maiden public issue comprises a fresh issue of equity shares worth up to Rs 320 crore and an offer-for-sale (OFS) of up to 55.80 lakh equity shares by promoters and selling shareholders.

China has aimed to diminish dependence on foreign technologies by urging state-affiliated entities, including banks, to transition to local software and fostering the development of domestic semiconductor chip manufacturing, adds the report. In the past month or two, employees in various state firms and government departments across at least eight provinces have been directed to use local brands, according to the Bloomberg News report.

Business Today, Gadkari said, "I will never allow driverless cars to come into India because it will take away the jobs of several drivers and I will not let that happen". While addressing road safety concerns in the country during the Zero Mile Samvad hosted by IIM Nagpur, Gadkari outlined government measures to mitigate the accidents such as the incorporation of six airbags in cars, reducing black spots on roads, and increasing fines through the Electric Motors Act. Road transport ministry makes AC truck cabin mandatory from Oct 2025 On Tesla Inc.'s entry into India, the minister said the government is ready to welcome the US automaker in India but manufacturing in China for sales in India is not acceptable.

Read more.The wholly owned subsidiary of Tata Power Renewable Energy has signed a contract to supply 152 MWp DCR solar PV modules for NTPC's Nokh solar PV project in Rajasthan, valued at about ₹418 crore. NTPC is developing the 735 MW Nokh Solar Park in Pokaran, Rajasthan.The company said it has received approval from the US Food and Drug Administration for its abbreviated new drug application for Allopurinol Tablets USP.

NEW DELHI : Nasdaq-listed Honeywell is open to acquisitions in India’s energy transition technology sector, said Ashish Modi, president for India operations. In an interview, Modi said Honeywell recently restructured its operations into three segments: automation, aviation and energy transition. Battery storage and green hydrogen will be key areas of immediate focus in energy transition, he added.

A material impact may start showing in the fiscal fourth quarter (January-March 2024) or the following three-month period (first quarter of fiscal 2025), they said.

Floydwiz Technologies has grabbed nearly 3% of the Indian laptop market with its Primebook brand of affordable devices in just nine months of entering the online marketplace, according to its co-founder, Chitranshu Mahant, who expects sales to touch 50,000 units by the end of 2023. The company has a revenue of Rs 10 crore per month and is projected to touch Rs 60 crore for 2023 at this run rate, Mahant told ET.

financial planning, asset allocation and execution. Presently the focus is on regulating them more and more. Some aspects of a recently proposed regulation could even be called draconian, making one wonder whether the regulator is suggesting the RIAs and RAs shut shop.

MUMBAI : Pushed back by a lull in private sector investments, India’s state-owned banks continued to lose market share in loans to private rivals, showed data from the Reserve Bank of India (RBI). The loss in market share was visible in deposits too. The share of public sector banks in deposits shrunk 119 basis points (bps) between March and September 2023.

By R.P. Gupta

China of a potential «middle-technology trap» unless it opens doors «wide open» for new investments and scientific innovation to deal with increasing containment in the ongoing tech war with the US. «China's manufacturing sector is still in the downstream of the global value chain, and it faces a risk of being hamstrung at the low and mid-end by developed countries such as the United States, Germany and Japan,» the Chinese Academy of Sciences said in its latest report released during the weekend.

For almost a decade, Tony Sanchez III was the epitome of a shale-boom CEO—furiously drilling oil wells, piling on debt and hunting quail and nilgai with fellow executives near his family’s ranch in South Texas. Then tumbling oil prices and heavy debt helped send his company, Sanchez Energy, into bankruptcy in 2019.

Adani Group taking over ACC and Ambuja Cement, the EBITDA has risen to Rs 1,350 per tonne from Rs 350 and the group is looking to scale it up to Rs 1,400 by 2024, sources said. In a move to broaden its business verticals, Adani Group last year acquired Ambuja Cement Ltd and ACC Ltd. Ambuja Cement has a cement capacity of 31 million tonne per annum with 6 integrated cement manufacturing plants and 8 cement grinding units across the country.

₹5 lakh to the families of the deceased. The blast occurred at around 8:30 am at Solar Industries India factory in Nagpur, the police officer told news agency Reuters. The factory produces a range of products for defence sector like industrial and military explosives, as well as propellants and warheads.