Manufacturing Financial News

DOMS Industries are in high demand in the unlisted market. The issue will open for subscription on December 13 and close on December 15. The price band for the Rs 1,200-crore offer has not been announced yet.

Maruti Suzuki India (MSI) on Wednesday said its Gujarat-based unit has crossed 30 lakh cumulative production milestone. Suzuki Motor Gujarat (SMG) has surpassed the milestone within a span of around 6 years and 11 months since commencing operations in February 2017, MSI said in a statement.

Japan to become the world's third-largest market in terms of sales, trailing only behind China and the United States. The automotive sector has experienced exceptional strength throughout 2023, and November stands out as a significant month, with two-wheelers and passenger vehicles (PVs) exhibiting notable strength.

Taiwan makes the majority of the world's most advanced semiconductor chips, used in everything from smartphones to electric vehicles, and the government has long worried about Chinese efforts to copy its success, including through industrial espionage and poaching engineers.

Apple has told its parts suppliers that it wants to get batteries for the upcoming iPhone 16 from factories in India, as per a Financial Times report. Earlier in November, Analyst Ming-Chi Kuo, as reported by MacRumors, suggested that Apple may initiate the assembling of the iPhone 17 in India, marking the first instance where the company will undertake iPhone development outside of China.

By Joe Cash

ICICI Securities. The upbeat domestic GDP growth with the rising capex cycle, the cyclical factors are expected to accelerate next year, which would drive the markets higher. “We expect favourable cyclical factors to accelerate in CY24 driven by capex-cycle firing on all cylinders (reflected in Q2FY24 GDP print), thereby triggering the corporate re-leveraging cycle," ICICI Securities said in a report.

Nifty50 has been on a bull run, hitting record high for the fourth straight session on the back of stellar GDP growth in the September quarter, foreign investors inflows returning to Indian equities, stabalising dollar and yields, and hopes of a rate cut sooner than anticipated. Moreover, state election results indicating a very high probability of policy continuity also aided the sentiment. Indian markets also saw a strong rally in November, rising 5.5 percent after a weak October following strong global cues as the risk of worst-case scenarios reduced both internationally and in India.

Himadri Speciality Chemical Ltd on Wednesday said it will invest Rs 4,800 crore over the next 5-6 years to set up a manufacturing facility for Lithium-ion Battery components. In a regulatory filing, the company informed that the board at its meeting held on Tuesday, has approved «setting up of the manufacturing facility for the production of Lithium-ion Battery (LiB) components with total annual production capacity of 200,000 tonnes, either directly and/or through its subsidiaries, with an estimated project cost of Rs 4,800 crores in phases over a period of 5 to 6 years.» The investment will be made largely from internal accruals and the balance from debt, it added.

By Faith Hung and Rae Wee

Investing.com-- Most Asian stocks rallied on Wednesday as weak U.S. labor market indicators fueled more bets that the Federal Reserve had limited room to keep interest rates higher, helping investors look past a warning on China’s economy.

Apple is scouting for new suppliers — Indian, Japanese and South Korean — which can provide crucial components to its contract manufacturers in India, people aware of the matter told ET. This comes on the back of delayed government approvals for imports from existing suppliers — primarily of Chinese origin — of batteries, camera lens, chargers and other equipment required to make its flagship iPhones and iPads in India, they said.

Manipal Technologies (MTL), the largest manufacturer of banking and smart cards in India, plans to bring in a financial partner into the eight-decade-old, Pai family-owned business at a valuation of around ₹4,000-4,200 crore ($500 million), multiple people aware of the initiative told ET. The Pai family is seeking to raise about ₹1,000 crore ($100-125 million) for the Manipal Group business that began as the back office of Syndicate Bank in 1941.

A proposal from New Mexico Gov. Michelle Lujan Grisham would underwrite development of a strategic new source of water by buying treated water that originates from oil fields as well as the state’s vast natural underground reservoirs of brine

Apple's iPhone business in India will have no impact from the reported factory closure in Chennai due to the extreme weather situation in Chennai owing to cyclone Michaung, said industry executives close to the company. They said Apple ensures there are enough buffer stocks of iPhones in distribution to deal with such situations. «Apple does not work in a just-in-time inventory model, where a day of downtime impacts supplies. They ensure there is enough stock to tide over a week-long disruption,» said one of the executives, who did not wish to be identified. The executives said Apple treats worker safety as the top priority in such situations and that this has been communicated to its suppliers in the cyclone-affected area. Production was yet to resume at Foxconn and Pegatron facilities in Sriperumbudur near Chennai on Tuesday, despite an improvement in weather, after being halted following heavy rains impacting day-to-day life in the coastal city and its outskirts. Taiwan-headquartered Foxconn and Pegatron are two of Apple's key local assemblers of iPhones and are part of the government's production-linked incentive scheme.

After a rash of layoff announcements at the beginning of the year, some companies are cutting jobs as 2023 winds down and a strong labor market shows signs of cooling. Tech-industry layoffs, which dominated at the start of 2023, included Facebook parent Meta Platforms, Google parent Alphabet and Microsoft. Then downsizing went beyond high-growth technology companies, with retailers, manufacturers and the financial sector announcing cuts.

ROME (Reuters) -Lamborghini has reached a deal with unions to introduce a four-day week for its production workers, the labour associations and the company said on Tuesday, as more manufacturing groups re-consider the structure of the work week for their employees.

Warren Buffett's company decided not to move forward with an expedited trial on its bribery allegations against the billionaire Haslam family in January under the strict conditions a judge set

U.S. auto safety regulators say they are monitoring data from a group of mostly unrecalled Takata air bag inflators after one of them exploded in a BMW and hurled metal fragments that seriously injured a driver in Chicago

The conflict against Tesla in Sweden is spreading to neighboring Denmark

Argentina’s outgoing government says it will not support the signing of a long-delayed trade deal between the European Union and the South American bloc Mercosur during a summit this week in Brazil even though the incoming Argentine government has expr...