Manufacturing Financial News

₹2 trillion over the next seven years, including Vande Bharat projects and various metro tenders. Indian Railways has issued a production plan of 102 Vande Bharat rakes, with 75 as chair car versions and the rest as sleepers.

₹1.5 lakh a month. At some distance, there would be a local agglomeration of shops: such as an apparel store stocked largely with unbranded and regionally made clothing turning over ₹5 lakh a month, a mid-sized metals and plastics store selling wares of ₹3 lakh a month, among other small shops.

Wipro Pari, the industrial automation business of Wipro Enterprises, announced it has signed a definitive agreement to acquire a significant majority share capital of Ferretto Automation and Services, a subsidiary of Ferretto Group based in San Polo — Reggio Emilia, Italy. Ferretto Group continues to hold a minority participation in the project; Riccardo Ferretto will be the chairman and managing director of the new company and will be responsible for the overall business activities. “Our industrial automation business has grown significantly in the last five years. We are already an acknowledged market leader in providing turnkey automation solutions for global automotive OEMs specifically in the emerging BEV – Battery Electric Vehicles and HFCV – Hydrogen Fuel Cell Vehicles.

India's industrial production in August rose to 10.3 per cent on an annual basis after growing 5.7 per cent in July, official data showed on Thursday. Factory output measured in terms of the Index of Industrial Production (IIP) had contracted by 0.7 per cent in August 2022. Mining output rose by 12.3 per cent in August 2023 after contracting 3.9 per cent in the same period a year ago. Manufacturing output posted a growth of 9.3 per cent in August 2023 after contracting 0.5 per cent in August 2022. Electricity output grew by 15.3 per cent in August this year after posting a growth of 1.4 per cent a year ago in the same month. The IIP grew by 6.1 per cent in April-August 2023 compared to 7.7 per cent in the same period of 2022-23.

Maruti Suzuki on Thursday said its Board will meet on October 17 to consider and approve the issue of equity shares of the company to Suzuki Motor on a preferential basis. «A meeting of the Board of Directors is scheduled to be held on October 17 to consider and approve the issue of equity shares to Suzuki Motor Corporation (SMC) on a preferential basis for consideration other than cash, to discharge the consideration payable by the company for acquisition of 100% equity stake of SMC in Suzuki Motor Gujarat Pvt Ltd,» the company said in a filing. Earlier in July, Maruti Suzuki India had received board approval to acquire Suzuki Motor Gujarat (SMG) from its Japanese parent SMC. SMG was a wholly-owned subsidiary of Suzuki Motor Corporation and recorded a turnover of Rs 31,853 crore for FY23. The automaker expects to complete the transaction by the end of the current financial year. In terms of actual production, logistics, sales and the costs thereof, there will be no change, as the cars earlier supplied by SMG as a contract manufacturer, will now continue to be supplied as before, the company said. In 2014, the Japanese automaker proposed to set up a separate manufacturing unit in Gujarat, to tap the fastest-growing demand. With an aim to tap domestic demand and drive exports from India, Suzuki Motor established SMG in March 2014.

Haldia Petrochemicals Ltd (HPL) will invest Rs 3,000 crore to set up new plants in West Bengal, a company spokesperson said on Thursday. It will build the first on-purpose propylene plant and a phenol unit at its existing manufacturing facility at Haldia, and both the projects are expected to be completed by the first quarter of 2026, he said.

Taiwan has repeatedly pushed for the conclusion of a Bilateral Investment Agreement (BIA) with the EU, saying it would help encourage more Taiwanese investment, especially from chip companies.

K P Energy has bagged an order for setting up Balance of Plant of 23.1 MW wind energy project from Aditya Birla Renewables. However, the company did not disclose the value of the order.

Let's explore the performance of these stocks. (Data Source: StockEdge) 1. Hero MotoCorp Hero MotoCorp, the world's largest two-wheeler manufacturer, saw its 50-day SMA at Rs 2,997.36.

microwave oven has evolved into an essential kitchen tool for millions of homes worldwide in the fast-paced world we now live in. The usefulness and effectiveness of a microwave oven are invaluable for anybody trying to streamline their cooking habits, whether they are a housewife, a busy professional, or a gourmet lover. In a thrilling turn of events, Amazon has now launched the Amazon Sale.

₹400 crore and a green-shoe option for a similar amount. “Performing credit" means lending to companies that are running their business on an ongoing basis, have a long track-record and are profitable at the Ebitda level. For the first close milestone, the asset manager has raised about ₹100 crore in commitments from a mix of domestic and offshore investors including high- and ultra-high-net-worth individuals, and family offices.

SKF India, the country’s leading bearings manufacturer has launched ‘Open Innovation’ initiative to accelerate innovation and create more sustainable and customer-oriented solutions under the intelligent and clean strategy.

whiskey market has got heads turning as Indian-distilled single malt has been giving tough competition to popular Scottish brands such as Glenlivet. A market once dominated within the country and beyond by foreign brands is now selling India’s domestically distilled single malt at a faster rate than anticipated. In 2022, Indian single malt brands and Scotch brands locked horns in a head-to-head battle where the former sold approximately 2,81,000 cases with a 2.4 per cent increase in sales; while the latter sold 2,96,000 cases with a 35 per cent increase in sales, data accessed by TOI revealed.

LONDON (Reuters) — Britain's economy partially recovered in August after a sharp drop in July but the bigger picture remained one of only sluggish growth after last year's surge in inflation and 14 back-to-back interest rate hikes by the Bank of England.

₹1 trillion-plus Cipla family stake sale saga will unfold. In the first scenario, interested bidders – ranging from domestic pharmaceuticals major Torrent, which in turn is in talks with CVC Capital Partners and Brookfield’s to raise the required capital, to private equity funds like Blackstone, KKR and Advent – sweeten their current offer and acquire the company. In the second scenario, Cipla patriarch Yusuf K Hamied wins over family groups who are currently against cashing out and the sale goes through.

Also Read: Israel-Hamas War LIVE Updates: Joe Biden issues warning to Iran on Gaza situation, says 'Be Careful' However, when Hamas launched its unexpected attack on Saturday, the Iron Dome system proved ineffective in dealing with the overwhelming rocket onslaught. In a span of just 20 minutes, Hamas launched a staggering 5,000 rockets from the Gaza Strip towards Israel. Also Read: Did Hamas behead citizens and children in Israel? President Biden has this to say The "Iron Dome" constitutes a ground-to-air, short-range air defence system designed to intercept and neutralize incoming missiles, rockets, and Unmanned Aerial Vehicles (UAVs) by destroying them in mid-air.

TOKYO (Reuters) — Japan core machinery orders fell for a second straight month in August, suggesting worries about a global economic slowdown and China's wobbly recovery may be hurting companies' appetite to make fresh investments.

By Valentine Hilaire

“Let’s get this straight – the energy transition will only happen on the backs of a stable, secure and resilient grid,” says Samuel Morillon, managing director Australia, Siemens Energy.

Detroit’s three automakers have laid off roughly 4,800 workers at factories that are not among the plants that have been hit by the United Auto Workers strikes, which have lasted for nearly four weeks

NEW DELHI : The Gujarat administration has kept communication channels open with Tesla Inc. to support the US company’s plans in India, Gujarat chief minister Bhupendra Patel said in an email interview. The chief minister said the state has set the goal of raising its contribution to the nation’s economic output from a little over 8% now to 10% by 2026-27, by which time it hopes to become a $500 billion economy.