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Siemens AG, German multinational technology conglomerate plans to make India hub for mass transit solutions, company executives said today. «The $3 billion large order (from Indian Railways) that we won, will for sure accelerate component and locomotive manufacturing here,» said Peter Koerte, Chief Technology Officer and Strategy Officer, Siemens AG, adding that Siemens also has a site where it develops a lot of infrastructure solutions and wants to use India as a hub for mass transit solutions which is a huge opportunity. Early this year, Siemens signed a Rs 26,000 crore ($3.25 billion) contract with Indian Railways to supply and service electric locomotives for freight movement in India. The deal is the biggest locomotive deal in the history of Siemens Mobility and the single largest order for the company in India. As part of the agreement, Siemens will deliver 1,200 electric locomotives of high capacity 9000 horsepower (HP) and also provide servicing for 35 years to the Railways.The deliveries would be undertaken over an eleven-year period. Siemens said it has engineering capacities in India (30 factories) and wants to build and look at how it can develop this further for the region. «We already have the Pune-Hinjewadi project with the Tatas.

₹2,419 crore in India under the production-linked incentive scheme, resulting in the employment of 17,753 people. "Today, in the telecom sector, we have crossed a major milestone where PLI-supported companies have already completed an investment of ₹2,419 crore, where the sales are at ₹34,516 crore, exports are ₹7,600 crore, and employment is 17,753.

₹2,419 crore, with sales of ₹34,516 crore, exports of ₹7,600 crore, and over 17,753 jobs generated. In 2022, when the scheme was rolled out, the government had approved of 42 companies with investments of ₹4,115 crore to avail the scheme which offered incentives on expected sales of ₹2.45 trillion and employment for over 44,000 people over a six-year period ending FY26.

EuroAPI, the pharma-ingredients firm spun off by Sanofi last year, plunged as much as 61% after cutting its guidance and saying it would embark on a strategic review.

Tamil Nadu Assembly Edappadi Palaniswami on Tuesday requested the DMK-led government in the state to ensure proper implementation of safety measures in the firecracker manufacturing factories and shops. Speaking on the recent incidents of explosions in Ariyalur and Hosur, Palaniswami said, «State government to increase the ex-gratia amount announced for the affected in the explosion incidents.

Radhika Gupta, MD & CEO, Edelweiss AMC, says “I do not think the portfolio for a future India can only be a largecap centric portfolio which is what they used to be. The portfolio is going to be a lot more balanced. It cannot be a fully mid and smallcap portfolio, perhaps. But it probably will be an equal weight portfolio of large, mid and small caps. The Indian opportunity is truly multi-sectoral and multi-cap in nature.” You have come out with a very interesting note and research. What are those factors which are coming together to make this decade a potentially good decade for corporate India, for macros and which will be getting reflected in markets as well? Finally markets are an outcome of corporate profitability and of what the economy is going to deliver and as people, we spend a lot of time talking about short-term markets but really what we are investing in when we are investing in funds is investing in India and India's decade.

₹26 billion, exceeding the pre-covid levels. During Q1 FY2024, the spirits industry reported a 13% year-on-year increase in revenues despite being the lean season for the segment, while the beer industry, despite being the peak season, witnessed a marginal decline of 1%, due to the unseasonal rainfall," the ratings firm said in its note.

India's space economy has the potential to reach USD 44 billion by 2033 with about eight per cent of the global share. Presently, the country's share in the global space economy is 2 per cent, said a top government official on Tuesday.

Himalayan 452 boasts several subtle yet noteworthy updates when compared to its predecessor, the Himalayan 411. Notable changes include a slimmer yet more substantial fuel tank, revamped fenders, and a divided seat arrangement. The bike proudly showcases the Himalayan branding on the front mudguard, with Himalayan graphics adorning the fuel tank, side panel, and rear fender.

₹80.75 crore of IPO proceeds will be used to fund working capital requirements and general corporate purposes. The company had filed preliminary IPO papers with Sebi in June.

Manappuram Finance has entered into a Memorandum of Understanding (MoU) with construction equipment manufacturer JCB India to finance the latter’s range of equipment and engineering products. The agreement was signed by Kamal Parmar, Head, of Vehicle and Equipment Finance, Manappuram Finance, and JCB India representative the other day. As per the agreement, the finance options will be available across the country. The pact will go a long way in helping both sides increase their business volumes.

Relaxo Footwears, Campus and Bata India. Grocery segment is expected to register recovery led by Avenue Supermarts (DMart), while the luggage sector will continue to grow at a strong pace led by a healthy travel trend with Safari Industries and VIP registering +18 and +7% sales growth. “From our building materials universe, we expect PVC pipes manufacturers – Supreme Industries followed by Astral to report healthy pipes volume growth (+22/18%).

multibagger stock between July 2023 and September 2023. Let’s find out why… Dolly Khanna is a Chennai-based investor, who is known for picking lesser-known midcaps and smallcaps. She has beeninvesting in stocks since 1996.

Rahul Shah, V-P, Equity Advisory, MOFSL, says “it looks like markets will continue to do well. It does not look like a sell-off is imminent. Maybe, the market will shed 4-5% and then stabilise there and again, build it back to the game. We should continue to hold on with this opportunity and in a sell-off, one should participate.” From a financial market standpoint, is it time to move on? We see a lot of concerns going on globally. From India’s perspective, there are two-three things. The markets are still trading at reasonable valuations. Midcaps and smallcaps valuations are rich and largecaps have underperformed. From the overall market perspective, there’s no big negative. Also, it looks like it will be a good earnings season. My sense is largecap stocks will outperform midcaps and smallcaps might take a breather, but whenever we see the largecaps performing, midcaps and small caps also rally. But after the midcap and smallcap rally, It is time for the largecaps. Usually in an election year, just before the elections, the last 20-25 years’ data suggests that markets have rallied between 10% and 32%,.

Tamil Nadu's Ariyalur district has increased to 11, officials said on Tuesday. Twelve people injured in the accident are still undergoing treatment in various hospitals in the district. The owner and manager of the cracker manufacturing unit have been arrested, police said. A case has been registered, against them and an investigation has begun.

The Albanese government will adopt a new definition for “critical minerals” influenced by the needs of Australia’s defence and trade partners, in a move that could drive domestically abundant commodities such as coking coal, bauxite and iron ore onto the list.

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Joby Aviation is working to develop electric-powered aircraft that will take off and land like a helicopter but fly like a small plane

MUMBAI : Zoho Corp. is experiencing a revenue growth slowdown due to macroeconomic challenges in its key North American market. Chief executive Sridhar Vembu said the company has turned cautious regarding spending and hiring, as many of the problems are unlikely to be resolved quickly.

₹100,000, indicating that micro and small enterprises are the fastest expanding segment within the industry. The services sector is witnessing the fastest growth in terms of economic activity. Small businesses play a significant role in India, contributing approximately one-third to economic output and making substantial contributions to exports.