Manufacturing Financial News

Reliance Industries Ltd (RIL) is set to disrupt India’s fledgling market for electric vehicle chargers by launching its own range of EV chargers and removable batteries. The company expects that battery swapping will help reduce the upfront and operating costs of electric vehicles, crucial for its widespread adoption in India, one of the world’s largest automobile markets. The Mukesh Ambani-led conglomerate is looking to tap into the entire ecosystem of EVs ranging from cells and batteries to charging and battery swapping as it seeks to “democratize EVs and make them more affordable,” a company executive said requesting anonymity as he was not authorized to speak to the media. As part of the plan, RIL has developed a removable lithium-ion battery that can power an electric scooter, electric three-wheeler and a light commercial vehicle, besides lighting up homes during a power outage. The batteries can be changed at RIL's battery swapping stations or re-charged by households using rooftop solar panels, which it also plans to sell.

Fast-growing legal firm Mills Oakley has added four new partners to its ranks.

Africa Partnership Conference (APC), organised by the Economic Development Board, Mauritius, in collaboration with the Ministry of Finance, Economic Planning and Development of Mauritius, concluded successfully on the 3rd of October. This event marked the third edition of the APC, focusing on the theme — Unity in Partnership: Enabling Sustainable & Inclusive Investment. The main goal of this conference was to foster connections between project promoters from various African nations and venture capitalists.

There are conflicting stories to tell about investing in Japan at the moment, and annoyingly both appear to be correct. The first is that the stock market is on fire, producing the best returns of any major developed country since the start of last year as foreigners wake up to the new shareholder-friendly approach of government, stock exchange and corporate boards. Billionaire Warren Buffett’s visit and positive comments in the spring highlighted the value of venturing to the country, and stocks are up more than 20% since late March as foreign cash poured in.

A few years ago, the founder of Chinese automaker BYD was worried it might not survive. Now, the company is nipping at the heels of Tesla as the world’s No. 1 seller of electric vehicles.

By Jonathan Cable

₹4.79 trillion over the scheme's lifespan (spanning at least five years). Amidst all these, diligent efforts have been undertaken to elevate the skill set of India's workforce to cater to the manufacturing sector's needs, particularly in high-tech and advanced industries. Thematic mutual funds with a manufacturing focus primarily invest in companies engaged in manufacturing goods and products.

The NII category was also not too behind with 88.3 times subscription. The QIB part was the least booked at 60%.

six airbags as a standard feature in this model. Hyundai also announced its intention to send three vehicles to Bharat NCAP for comprehensive crash testing. This suggests that the Verna may have been one of the final cars to undergo testing by Global NCAP, adds the report.

President Joe Biden has announced that the manufacturers of all of the first 10 prescription drugs selected for Medicare’s first price negotiations have agreed to participate

Tata Motors as on the date of the filing of the Red Herring Prospectus with the Registrar of Companies (RoC), will be considered eligible for the initial public offering (IPO), Tata Technologies said in an addendum to its draft red herring prospectus (DRHP) filed with Sebi. The company has capped the maximum bid amount under Tata Motors shareholders' reservation portion at Rs 200,000. The issue, which is an offer for sale (OFS) will see the promoter company and two investors offloading a combined 95,708,984 equity shares. Tata Motors will offer up to 81,133,706 equity shares which is 20% of the pre-offer paid-up equity share capital of Tata Technologies. Investors Alpha TC Holdings Pte.

Day trading guide for today: On account of weak global cues, Indian stock market finished lower on Tuesday. Nifty 50 index lost 109 points and closed at 19,528 levels, BSE Sensex shed 316 points and ended at 65,512 mark whereas Bank Nifty index finished 185 points lower at 44,399 levels. In broad market, small-cap index surged 0.61 per cent while mid-cap index managed to end marginally higher on the previous session.

At the World Digital Mining Summit, Core Scientific, Inc. (OTC: CORZQ), a North American leader in blockchain computing data centers and software solutions, disclosed a significant investment from Bitmain, the globally recognized manufacturer of digital currency mining servers. Bitmain's commitment amounts to $53.9 million, further cementing the bond between the two industry giants.

Fortescue has doubled down on becoming a manufacturer of hydrogen electrolysers, saying it was the lead investor in a $US380 million ($602 million) fundraising round conducted by Electric Hydrogen.

Adani Wind, the wind energy solutions division of Adani New Industries (ANIL), plans to invest ₹2,000 crore in setting up 5 GW (giga watt) capacity in five years, a senior company official told ET. Thereafter, the capacity would be scaled up to 10 GW in another two years, by 2030. «We will be expanding our capacity in four phases.

Ashwini Vaishnaw on Tuesday took to his X (formerly Twitter) handle to give travellers an idea of the concept of Vande Bharat sleeper trains and what would look they like. The Minister shared the pictures with the caption «Coming soon… early 2024».

₹1.2 trillion were announced by companies during the July-September period, marking a whopping 82% sequential decline and 77% year-on-year decline. The figures are provisional and may be updated later.

NEW DELHI : India’s manufacturing activity in September grew at the slowest pace in five months after new factory orders softened from their high in August, a private survey said. The purchasing managers index (PMI) fell to 57.5 in September, compared with at 58.6 in August, 57.7 in July, 57.8 in June and 58.7 in May, according to S&P Global. A figure of 50 separates expansion from contraction.

NEW DELHI : With the likelihood of 11 auctioned commercial mines becoming operational in the current fiscal year, coal output from commercial and captive mines will reach 145 million tonnes (mt) in FY24, said coal secretary Amrit Lal Meena. Last year production from commercial and captive mines was about 116 mt. In an interview, the secretary said that the target for this output from commercial mines is 162 mt, and that production is expected to reach 145 mt.

Check out the companies making headlines in midday trading.

NEW DELHI : The improvement in cement prices seen during September remains positive for the manufacturers amidst rising energy costs. The cement channel checks by brokerages indicate that improvement in cement prices continued in September led by major price hikes in East India. For September 2023 average prices are up 4% month-on-month and for second quarter (Q2FY24) are up 0.5-1.0% sequentially as per analysts at Jefferies India Private Ltd.