Manufacturing Financial News

WASHINGTON (Reuters) — The U.S. will fund nine projects with $169 million from last year's climate bill to speed manufacturing of heat pumps, systems that can heat and cool homes and businesses more efficiently, the Energy Department said on Friday.

Embattled Brisbane fast-charger company Tritium is in negotiations with Taiwanese electronics company Lite-On Technology Corporation for a key strategic stake to ensure its financial future.

₹1,206 crore. Out of this an investment of ₹714 crore has been achieved. Fourteen projects producing 37 products have been commissioned, and domestic manufacturing of high-end medical devices has started.

TVS Motor Co. Ltd, Havells India Ltd, Philips India Ltd, Voltas Ltd, Whirlpool of India Ltd, John Deere, Sonalika Tractors, Escorts Ltd, New Holland Agriculture, (Royal Enfield) Eicher Motors Ltd, Blue Star Ltd, BPL Ltd, Godrej & Boyce Manufacturing Co. Ltd, and Crompton Greaves Consumer Electricals Ltd.

By Klaus Lauer and Ludwig Burger

This disregard is all-pervasive. Right from the individual level, when one does not bother to wear a helmet while riding a two-wheeler, to the organisational level, when there is poor regard towards environment, health and safety (EHS) norms, to the government level, where adequate deterrence is not built into the system to make safety of the citizenry a priority. Take these cases.

Welspun Group is planning to re-enter the same by setting up hybrid renewable energy power plants and manufacturing green hydrogen, chairman BK Goenka said. «We were in the business of renewable, which we sold 7-8 years back as we got a good valuation then, which was a benchmark. Today, I think India is going to be the hub for green hydrogen and green ammonia.

Investing.com — U.S. are wobbling on Friday but were still on track for a weekly gain. Cautious words from retailers about the holiday sales season and hopes that the Federal Reserve is nearing the end of its interest rate increases are on the minds of investors.

Ola Electric has converted itself into a public limited company through a corporate restructuring as the leading electric vehicle maker gears up for its initial public offering. The conversion of a private limited company into a public company is a mandatory step for a firm that wants to list on the stock exchange.

Ola Electric has restructured itself into a public company from a private limited one, regulatory filings showed on Friday. The restructuring of the electric two-wheeler maker comes ahead of an expected public listing. It has also changed its name to Ola Electric Mobility Limited, from Ola Electric Mobility Private Limited earlier.

electric vehicle makers use more locally made parts in order to become beneficiaries of its manufacturing programme, reported Shubhash Narayan and Rituraj Baruah.

Cyrus Poonawalla, Chairman and Managing Director of the city-based vaccine manufacturer Serum Institute of India (SII), suffered mild cardiac arrest and underwent an angioplasty procedure in a hospital here, doctors said on Friday. Poonawalla, 82, suffered cardiac arrest on Thursday. Dr Purvez Grant, a cardiologist from Ruby Hall Clinic said, «Cyrus Poonawalla suffered mild cardiac arrest and is recovering fast.» Ali Daruwala, advisor of the hospital, said in a statement, «Dr Cyrus Poonawalla suffered mild cardiac arrest on November 16 and was admitted to the Ruby Hall Clinic early morning on Friday.» «Dr Poonawalla underwent angioplasty under the supervision of Dr Purvez Grant, Dr Makle, and Dr Abhijeet Khardekar.

Maharashtra will require cumulative investment of USD 1.53 trillion over the next six years to become a USD one trillion economy, a vision statement prepared by the Maharashtra Institution of Transformation (MITRA) said. A presentation of the vision statement was made on Friday to the state cabinet, which accepted 341 recommendations.

The ET MSME Awards 2023 serves as a beacon, illuminating and honouring these unsung heroes for their exceptional contributions. Now in its fourth edition, this distinguished event has evolved into a platform that magnifies the brilliance and resilience inherent in MSMEs.

Oil prices drop over $3 on China's demand concerns, US crude stock; Brent crashes to $78/bbl Both of these crucial benchmarks marked a 9.12% decline this month so far, reaching their lowest levels in four months. The substantial decrease in crude oil prices on Thursday followed a larger-than-anticipated build-up in U.S. oil inventories.

Thе brokеragе industry facеs sеvеral challеngеs, including nеw rеgulatory rеquirеmеnts that havе significantly incrеasеd operational and tеchnology costs. Thе risе of discount broking has also еrodеd profit margins. Unlеss SEBI providеs somе rеliеf in tеrms of fund-rеlatеd compliancеs, thе survival of many brokеrs in thе futurе could bе jеopardizеd, says Ravi Singhal, CEO, GCL Broking.

The e-commerce industry has suggested the government permit foreign direct investment (FDI) in inventory-based model of online trade only for export purposes, a senior government official said on Friday. 

PCBL zoomed 10.19% to register a historic high of ₹244.90 apiece in today's trade. This propelled the stock to achieve a substantial gain of 84% in the current year, registering its best yearly performance since CY17. Looking at the long-term performance, the shares have delivered a 204% return over the last three-year period and over the last decade, the shares delivered a whopping return of 4,170%, climbing from ₹5.62 per share to the current position of ₹238.40.

MOSCOW (Reuters) — France's Alstom (EPA:ALSO) is set to sell its 20% stake in Transmashholding (TMH) back to the Russian railcar manufacturer by the end of the year, the Interfax news agency cited TMH head Kirill Lipa as saying on Friday.

Luxshare’s move to make investments in Vietnam is a result of many failed attempts to expand its operations in India. Those who do not know, Luxshare is Apple's primary supplier for AirPods and could be an upcoming supplier for iPhones. As per the reports from the publication, the company now aims to shift their investment worth $330 million to Vietnam's northern province of Bac Giang.

NCLT) has approved a proposal jointly submitted by luggage manufacturer Goblin India and financial services firm Khandwala Finstock for the acquisition of bankrupt Television Home Shopping Network. The proposal includes a merger or reverse merger of Khandwala Finstock with the company that operates TV home shopping channels. All the members on the company’s committee of creditors approved the plan at a meeting on August 6. The joint resolution plan includes upfront payments of Rs 19.65 lakh and Rs 35.34 lakh to secured financial and operational creditors, respectively, within 25 days of the NCLT approval, said counsel Nausher Kohli, who appeared in the case for the successful bidders. Each of the operational creditors also has the option to subscribe to 6% of the 1,60,00,000 partly paid (Rs 5 paid) non-cumulative, non-participating, and redeemable preference shares having a face value of Rs 10 each, redeemable at the end of 15 years from the date it becomes fully paid-up. The partly paid preference shares are proposed to be allotted in proportion to the admitted claims which remain unpaid after the upfront cash payment. Formerly known as TV18 Home Shopping Network, Television Home Shopping Network operates TV home shopping channels and an ecommerce marketplace under the brand name HomeShop18. In 2019, real estate firm Skyblue Buildwell acquired a controlling stake in HomeShop18 from Network18, which owned TV18 Home Shopping Network. The tribunal noted that the approval of the resolution plan must not be construed as a waiver of any statutory obligations of Television Home Shopping Network. There had been total claims of Rs 397 crore against the company.