Manufacturing Financial News

₹8 billion. India is one of the world's fastest-growing economies and has the largest young population, and Trent plans to capitalise on this growth. The company recently launched 'Samoh', a luxury clothing brand, and opened its first store in April 2023.

Texmaco Rail & Engineering rallied 11.69 % in Monday's early trade to 148.95 apiece, driven by the company's healthy performance in the quarter ending in September. At 10:15 AM, the stock was trading with a gain of 6.6% at ₹142.20. During Q2FY24, the company reported a consolidated net profit of ₹25 crore, marking a 66% increase compared to the net profit of ₹15 crore recorded in the same period last year.

fertiliser to more than double over the past year, but he is bitterly aware of the consequences. At his farm in northeastern Nigeria, he can no longer afford enough fertiliser, so his corn is stunted and pale, the scraggly plants bending toward the powdery earth. Inside his mud house, he has grown accustomed to explaining to his two young children and pregnant wife why they must make do with two meals a day — and sometimes only one — even as hunger gnaws. As he and his neighbours commiserate over the calamity unfolding across much of Africa, they exchange theories on one source of trouble: Russia's war on Ukraine, which disrupted shipments of key ingredients for fertiliser. «We are in two different worlds, separated by airplanes and oceans,» Chubado said.

Adani Green Energy, one of India's largest renewable companies, is expanding its solar and wind power capacity. Vneet Jaain, managing director, Adani Green Energy, and director, Adani New Industries, tells Kalpana Pathak that the company plans to invest $3 billion in backward integration to support its plan to more than double its current solar manufacturing capacity. Edited excerpts: You are planning to expand your solar power capacity? Yes.

Automobile technology and automation firm Rosmerta Technologies plans to invest Rs 200 crore to set up ten vehicle scrappage units over the next three years, according to a top company executive. The company currently operates a single vehicle scrapping facility in Manesar (Haryana) with a capacity of processing 30,000 vehicles annually. After the capacity addition, the company will be able to process up to 3 lakh vehicles annually. In an interaction with PTI, Rosmerta Technologies President Kartick Nagpal said that with the setting up of the scrappage centres, the company will be able to contribute to the circular economy by helping recycle three lakh vehicles each year. «With this regard, we plan on investing Rs 200 crore across India to leverage this situation and contribute to the circular economy,» he added. The central government believes that the output from scrapped vehicle materials would save about 33 per cent on raw material costs and will bring down reliance on imported metals such as aluminium, copper as well as rubber. India, which is ranked fourth and sixth largest manufacturer of passenger and commercial vehicles respectively, imports metals worth USD 34.7 billion each year. In August 2021, Prime Minister Narendra Modi had launched the national vehicle scrappage policy to help phase out unfit and polluting vehicles and also promote a circular economy. While the government has financially incentivised scrapping old vehicles and replacing them with new ones, over 50 lakh light motor vehicles aged over 50 years (as per industry estimates) continue to ply unchecked. Rosmerta Technologies is the country's leading manufacturer of high-security registration plates (HSRP).

Topworth Steel and Power Pvt Ltd by Amalgam Steel and Power Limited. The company had admitted liability of about ₹3,499 crore, whereas the successful bidder proposed to pay around ₹260 crore. «The overall feasibility and viability of the plan stands unaltered,» the division bench presided over by Justice VG Bisht and technical member Prabhat Kumar said in its order of October 11.

cement industry is unable to compete in the overseas markets owing to duty-free imports of the commodity in the country coupled with the duties that domestic producers need to pay for raw materials, the PHD Chamber of Commerce and Industry (PHDCCI) has conveyed to the commerce and industry ministry. The industry body has demanded a reciprocal import duty, along with a correction in the inverted duty structure.

Aswhini Vaishnaw. The government has initially earmarked USD 10 billion incentive for setting up a semiconductor manufacturing ecosystem in the country including a wafer fabrication plant. The wafer fabrication plants are the first building block of physical chips that are used in all high-tech electronic products.

Taiwanese company Acer, which sells laptops and other electronic hardware products, has entered India's electric scooter segment and will be marketing vehicles designed and manufactured by urban mobility startup Think Ebikego. The company unveiled its first electric scooter MUVI 125 4G on Sunday priced at Rs 99,999. Under a licencing agreement, Mumbai-based Think Ebikego will produce electric two- and three-wheelers for Acer in the Indian market.

Luxury sports car manufacturer Ferrari has announced the acceptance of cryptocurrency payments for its vehicles in the United States, with plans to extend the offering to Europe in response to customer requests. 

tyre maker Yokohama is betting on local production in India for a «sustainable and competitive» business model in the country, according to a top company official. Yokohama Rubber company, which is present in the country through a wholly-owned subsidiary, is coming up with a new plant in Visakhapatnam in addition to its existing plant in Bahadurgarh, Haryana.

Fast-growing small and medium businesses requiring more capital to grow should consider partnering with a $540 million private equity-style fund backed by banks and the federal government, its chief executive says.

electronics sector, a top government official said. The government disbursed Rs 2,900 crore till March 2023, out of claims worth Rs 3,400 crore received under the scheme, which aims at boosting domestic manufacturing, creating jobs and supporting exports. «In the recent meeting of the committee, Rs 1,000 crore disbursements were approved under the PLI scheme for the electronics sector.

Indian Biogas Association (IBA) during the recently held Renewable Energy India Expo 2023. Talking to PTI, IBA Chairman Gaurav Kedia said «Indian Biogas Association (IBA), an industry association comprising operators, manufacturers, and planners of bioenergy plants, has received a commitment of investment worth Rs 2,755 crore during the Renewable Energy India Expo 2023.» The association has signed joint ventures (JVs), MoUs (memorandum of understanding) and received LoIs (letter of intent) commitments during the recently concluded Renewable Energy India (REI) Expo held at Greater Noida from from October 4 to 6.

National Aerospace Laboratories expects to finalise the production partner for its two-seater trainer aircraft HANSA-New Generation, in a month, a top NAL official said. A market study done by Bengaluru-based NAL has shown there is a potential demand for about 400-500 such aircraft in India in the next 5-10 years, Program Director of Civil Aircrafts at NAL, C M Anand, told PTI. The NAL-developed HANSA-NG features a state-of-the-art-glass cockpit, a Rotax-912iSc sport engine and a steerable nose wheel.

SAIL plans to start the trial production of head hardened (HH) rails, used in metro rail and freight corridor projects, by month-end, its Chairman Amarendu Prakash said. The steel PSU was earlier looking to start the trial production of HH rails in August but deferred it due to the demand for normal rails like 880 grade from the Indian Railways, Prakash told PTI in an interview. «We have the technology.

Global steel demand needs revival for domestic prices to rise HH rails are special rails used in high-speed freight corridors and metro rail projects. Such rails are manufactured using head hardening technology to bear about 50 per cent higher pressure compared to normal rails. SAIL has set up facilities for the production of HH rails at the new Universal Rail Mill (URM) at its Bhilai Steel Plant (BSP) in Chhattisgarh, and the cold trials for the same have already been completed.

Biden administration over a Nevada lithium mine, environmentalists are poised to return to court with a new approach accusing US wildlife officials of dragging their feet on a year-old petition seeking endangered species status for a tiny snail that lives nearby. The Western Watersheds Project said in its formal notice of intent to sue that the government's failure to list the Kings River pyrg as a threatened or endangered species could push it to the brink of extinction. It says the only place the snail is known to exist is in 13 shallow springs near where Lithium Americas is building its Thacker Pass Mine near the Oregon line. US President Joe Biden has made ramped-up domestic production of lithium a key part of his blueprint for a greener future.

Zhen Hua 15 — a heavy load cargo carrier sailing from the East China sea — unloads at Vizhinjam port this Sunday, it’ll do more than just set down the site’s first gigantic cranes. It’ll also put India on the map for world’s biggest container ships. Located near the southernmost tip of the country, the Vizhinjam transshipment container port — the first of its kind in India that will be inaugurated on Oct.

American aerospace giant Lockheed Martin has secured a contract from the US Navy to manufacture eight Sikorsky MH-60R SEAHAWK helicopters for the Spanish Navy (Navy). These helicopters are equipped with state-of-the-art mission systems and sensors specially designed for anti-submarine and anti-surface warfare.

Morale of the mobile manufacturing industry has hit an all-time low with the arrest of Hari Om Rai, founder of homegrown device maker Lava International, industry body ICEA said on Saturday.The Enforcement Directorate has arrested Rai in an alleged money laundering case against Chinese smart devices maker Vivo.