Manufacturing Financial News

President Joe Biden joined United Auto Workers in Michigan on the 12th day of their strike against major carmakers.

Nexon EV facelift SUV in September, is now preparing for the launch of its smallest electric SUV, the Punch EV. The Punch EV has been repeatedly seen undergoing testing before its highly awaited debut. The automaker had previously announced its plans to introduce four new electric vehicles by early next year, with the Punch EV being one of them.

Chakri Lokapriya, CIO & MD, TCG AMC, says “one of the big calls that we took was we do not hold HDFC Bank at all after many, many years simply because it is a great company, but the valuations are still kind of reflect some of the integration issues that the company has, which will continue to impact its margins for a good some time more to come. In general, we do not own banks as much, but we are making up for that through NBFCs.” What has been your market approach in the last two or three weeks? Lots of power stocks have corrected in the last few days. And individual stocks are down a good 10-20%. So I think in terms of financing of power through REC, Power Finance, through the power companies itself, like buying BHEL, Siemens, I think those will continue to do well because the long-term story is intact. It is just that in the short-term, there was a profit-taking bout. Since that story is intact, we have been buying.

Shares of Tata Motors rose as much as 2% in early trade on Tuesday, before trimming some gains, a day after the company was awarded 7.66 billion rupees ($92.00 million) to compensate for its investment in the Singur plant in West Bengal. A three-member arbitral tribunal said Tata Motors was entitled to recover the amount from West Bengal Industrial Development Corporation for the loss of investments related to the automobile facility, according to an exchange filing. The Singur plant, presently closed, was initially set up to manufacture Tata Nano cars with an investment of 10 billion rupees.

₹2,786 crore, while its revenue is expected to grow 18% YoY to ₹50,460 crore. Strong tender pipeline from domestic as well as exports market is likely to drive order inflows.

Apple on Monday introduced new MacBook Pro and iMac computers and three new chips to power them, with the company saying it had redesigned its graphics processing units (GPU), a key part of the chip where Nvidia dominates the market. The new computers and the M3, M3 Pro and M3 Max chips were unveiled at an online event heavily focused on professional users.

shares rallied on Tuesday amid speculation that the central bank will loosen yield curve controls later in the day, offsetting a big drop in tech stocks following declines for U.S. peers and disappointing earnings from Panasonic. The Topix banking index climbed 2.25% as of 10:28 local time (0128 GMT) to lead gains among the Tokyo Stock Exchange's (TSE) 33 industry groups. The Nikkei newspaper reported overnight that the Bank of Japan will consider raising the ceiling for long-term yields from the current 1% at its policy meeting likely ending sometime around the TSE's midday trading recess. The benchmark 10-year Japanese government bond yield jumped to a fresh decade high at 0.955% shortly after the market open, while the yen traded around 149.42 per dollar after reaching a nearly two-week high of 148.81 overnight. «It feels to me personally like there's going to be a policy tweak today» by the BOJ, said Kazuo Kamitani, an equity market strategist at Nomura Securities. However, in the event of a hawkish shift, «I don't expect a big swing in the long-term yield from here, as it's already come a good way, but investors will want to confirm that,» he said. Japan's Topix index gained 0.43%, with an index of value shares such as banks rallying 0.65%, outpacing a 0.21% rise for growth shares, which are predominantly tech names . The Nikkei 225 share average, with its heavy weighting for tech shares, slipped 0.18% to 30,640.89. Chip-testing equipment manufacturer Advantest was the Nikkei's biggest drag, shaving off 44 points with a 4.3% slide.

Vande Bharat Express: Amid rise in demand, Railways to increase operations on Mumbai-Goa route: Report The trials are expected to take place in the Mumbai-Nashik corridor, with a focus on the hilly terrain, as per the report. One potential route for the train would likely be Mumbai-Delhi. Officials did not respond to queries, the report added.

₹1,761.86 crore, according to NSE data. DIIs bought equities ₹1,328.47 crore net, the exchange data showed.World oil prices sank Monday as traders hoped a region-wide conflict could still be avoided and Israel said its forces killed dozens of Hamas militants in clashes in Gaza.Global investors are looking forward to key reports on consumer confidence and the U.S.

When Enterprise started to see automobile supply problems after the pandemic hit in 2020, the car and truck rental, fleet management and mobility company decided to cater to its long-term customers

Sources say Jeep maker Stellantis reached a tentative contract agreement.

Britney Johnson is among the thousands of Ford Motor Co. workers who went on strike to force the automaker to improve pay for all

Nokia sees demand for equipment to be substantial in 2024-25, a senior company official said. The proliferation of fixed wireless access network will usher the Indian telecom sector into the second phase of 5G network deployment, Nokia India head of mobile networks business Tarun Chhabra said at the India Mobile Congress. «India's requirement is still going to be substantial in 2024-25, then our factories will be fully loaded with India plus some exports,» Chhabra said. Nokia has recorded multi-fold growth in its telecom gear business in India on account of rapid 5G network deployment. In the third quarter financial report, Nokia CEO Pekka Lundmark said the business continued to benefit from 5G deployments in India, where net sales more than doubled year-on-year, but sales volume moderated significantly on a sequential basis as the pace of deployment has started to normalise. Chhabra said Nokia will increase exports from India if demand tapers, but he expects the growth momentum in the country to continue. «Fixed wireless Access (FWA) is one big thing that can actually require a lot of data thrusting and then operators will have to actually deploy more networks.

NEW DELHI : Indian telecom equipment makers have asked the government to provide incentives for increasing value addition in manufacturing to reduce their dependence on imports, even as some companies have begun making fixed wireless access equipment that will be in high demand in India and other global markets. In a meeting with senior ministry officials last week, companies making equipment in India suggested providing direct financial incentives to reduce dependence on imports, two people aware of the development said. “There are companies already making telecom equipment here, for instance, players like HFCL and Tejas Networks, among others.

China's top electric carmaker BYD announced a record quarterly profit Monday, underscoring the firm's growing dominance in a high-tech sector that is fiercely contested by both domestic and foreign competitors. The Shenzhen-based firm posted a profit of 10.4 billion yuan ($1.42 billion) for the July-September period, its highest-ever earnings during a single quarter and up 82 percent on-year, a statement to the Hong Kong Stock Exchange showed. The figure was in line with BYD's previous forecast of between 9.55 billion yuan and 11.55 billion yuan in quarterly earnings. BYD's cumulative net profit for January-September reached 21.4 billion yuan, more than doubling on-year and surpassing last year's total annual earnings of 16.6 billion yuan. Electric vehicle demand has soared in recent years in China, which is the world's biggest producer of greenhouse gases in absolute terms. BYD, whose investors include US investment titan Warren Buffet, wants its sales to be dominated by electric and hybrid vehicles by 2035. Earlier this year, BYD became the first global manufacturer to pass the five million milestone in electric vehicle production, crowning itself «the world's leading manufacturer of new energy vehicles and power batteries». Originally specialising in the design and manufacture of batteries, the company diversified into the automotive sector in 2003. Many foreign automotive leaders — including Tesla, BMW, Mercedes and Audi — depend on BYD for their batteries. China's electric vehicle sector has benefited from decades of subsidies issued by Beijing in related technological fields. The growing success of Chinese electric car firms in foreign markets has also drawn scrutiny.

M3 chip, which is rumored to be Apple's next-generation silicon chip, is expected to make its debut at the ‘Scary Fast’ event. This chip is expected to be the engine behind future Apple Mac models, such as the MacBook Pro and iMac, bringing with it significant improvements in performance and energy efficiency. There are rumors that the M3 chip will be available in multiple configurations, which may indicate a move towards 3-nanometer manufacturing. Here is a closer look at the three M3 chip variations that have been revealed so far: M3, M3 Pro, and M3 Max.

manufacturing hub, said officials. The Niti Aayog is undertaking an exercise to identify these sectors and their export potential and recommend strategies accordingly, they said. The government will tweak policies and provide infrastructure support to help these sectors become global champions in manufacturing.

real estate. Together, the two industries account for three out of five insolvency cases admitted in India but have thus far yielded vastly contrasting outcomes. Manufacturing made up 38% of all such cases admitted until September 2023 since the Insolvency and Bankruptcy Code (IBC) came into force late 2016, but its share in the resolved cases was as much as 48%.

₹17,000 crore for production of green hydrogen and manufacture of electrolyzers, apart from other incentives for R&D and pilot projects. The central government targets domestic production of 5 million tonnes of green hydrogen annually and make India a global green hydrogen hub. The Bain & Company executive further said that currently there are more of bilateral discussions and contracts in terms of green hydrogen sale, and in the long run with the growth in the green hydrogen ecosystem a marketplace would have to come up for consumers and producers to interact.

(Reuters) -Ford Motor said on Monday it would add more of Tesla (NASDAQ:TSLA)'s Superchargers to its electric-vehicle charging network, higher than previously forecast, as automakers tap into the EV leader's sprawling charger network to expand the range of their cars.

₹766 crore from WBIDC. In addition to the claimed amount, the arbitral tribunal asked WBIDC to pay the interest on the claimed amount at an 11% rate from September 2016 till the actual recovery time. The company shares closed 1.71% lower at ₹460 per share on BSE on Monday.