Manufacturing Financial News

Also read: Plans to buy 100 more indigenous LCA Tejas Mark 1A fighter jets, says Indian Air Force chief The C-295 aircraft is capable of carrying up to nine tonnes of payload or as many as 71 troops at a maximum cruise speed of 260 knots. Chief of Air Staff Air Chief Marshal VR Chaudhari on September 13 received the first of the 56 C295 transport aircraft two years after India sealed a ₹21,935-crore deal with Airbus Defence and Space to procure the jets to replace its ageing Avro--748 fleets.

Lithium-ion cells. The company based in Kolkata is a producer and exporter of Aluminum foil for various industrial applications with an annual production capacity of 20,000 tons. For the production of 1GWh (Gigawatt-hour) of LFP (Lithium Iron Phosphate) cells, which powers a wide variety of electric vehicles and energy storage systems, 350 tons of high purity and uniform-thickness aluminum foil is required that acts as a positive (cathode) current collector. The demand doubles for Sodium-ion batteries where both positive and negative current collectors is expected to be using aluminum foils. The customized battery aluminum foil from Shyam Metalics with thickness ranging from 12-micron to 20-micron has been tested and validated by third-party laboratories, according to the company. India spent $1.8bn to import 5,486.18 kWh lithium-ion batteries during April-November 2022 period as against the import of 6,167.68 lakh units of lithium-ion batteries for $1.83bn in 2021-22, indicating a growth in imports consequently to rising demand for electric vehicles and green energy solutions. “We are thrilled to foray into manufacturing battery foil and support the government to mobilize resources to indigenize battery cell manufacturing.

Autocracy Machinery (Autocracy), a manufacturer of trenching, turf and construction machinery has announced securing a USD 1.2 million seed funding led by Venture Catalysts. Investors Nikhil and Bharat Jaisinghani (Executive Directors, Polycab India Limited), Meghna Agarwal (CEO, IndiQube), Abhishek Rungta (Partner, Seeders), Srikanth Iyengar (CEO, Workforce Development, upGrad) and Abhishek Modi (Managing Partner Shiva Engg, VP-South Asia chapter, Stanford Seed Network) along with HEM Angels, VC Grid and S Four capital participated in this round. The funding will be used to expand Autocacy’s domestic and global distribution foot-print, invest in R&D and build out a state-of-the-art industrial unit to enhance and streamline production. Autocracy has clocked a three-fold increase in revenue in past years and is well-positioned to achieve revenues of Rs 60 crore by the fiscal year 2025. «We are driven by our commitment to India’s “Make in India'' and “Make for the World'' mantras by redefining heavy duty precision engineering in India with efficient, locally designed, and cost-effective machinery.

(This story originally appeared in on Sep 24, 2023)

₹54.91 crore worth Mangalam Alloys IPO, which opened for subscription on September 21, will close today, September 25. Mangalam Alloys Ltd is a manufacturer of SS Ingots, SS Black Bar, SS RCS, SS Bright Round Bar, Bright Hex Bar, Bright Square Bar, Forgings, and Fasteners in more than 30 international grades.

₹36 per equity share of face value of ₹10 each. Marco Cables IPO lot size is 3000 equity shares and in multiples of 3000 equity shares thereafter. Marco Cables & Conductors Ltd IPO details A fresh issue of 2,601,000 equity shares totaling ₹9.36 crore and an offer for sale (OFS) component of 2,601,000 shares totaling ₹9.36 crore make up the ₹18.73 crore-worth Marco Cables IPO.

manufacturing renaissance. President Joe Biden claims much of the investment is the result of financial incentives resulting from the Chips and Science Act and the Inflation Reduction Act (IRA), two of his signature policies. But state and local giveaways also help.

Companies extracting hydrogen from underground in Western Australia will be charged a royalty in future under a refresh of the state’s hydrogen strategy.

Topping the list is PI Industries, whose stock has compounded at a gravity-defying CAGR of 55% to 6,485 times. KEI Industries has grown over 3,300 times, Bajaj Finance 1,336 times, Titan 859 times, Relaxo Footwear (584 times) and Havells India (568). Other top wealth creators in the list include Deepak Nitrite, Balkrishna Industries, Navin Fluorine, Hatsun Agro, UPL, Kajaria Ceramics, Shree Cement, UPL, Eicher Motors, Atul, Kotak Bank, Pidilite Industries, Trent and Asian Paints. «Business models that flourish during economic upcycles and preserve value during downturns can be labelled as ‘through-the-cycle’ (TTC) compounders.

Narendra Modi on 24 September. These newly launched trains have a host of new features incorporated which were incorporate after taking passengers' feedback in order to make the train journey more comfortable for them. The launch of these nine trains will connect religious and tourist destinations across 11 states in the country.

prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand. Brent crude futures climbed 48 cents, or 0.5%, to $93.75 a barrel by 0110 GMT after settling 3 cents lower on Friday. U.S. West Texas Intermediate crude futures extended gains for a second straight session, trading at $90.53 a barrel, up 50 cents, or 0.6%. «Crude oil prices have started the week on the front foot, as the market continues to digest Russia's temporary ban on diesel and gasoline exports, into an already tight market, offset with the Fed's hawkish message that rates will stay higher for longer,» IG Markets analyst Tony Sycamore said. Both contracts snapped a three-week winning streak to fall last week after a hawkish Federal Reserve stance rattled global financial sectors and raised oil demand concerns. Prices had rallied more than 10% in the previous three weeks on forecasts of a wide crude supply deficit in the fourth quarter after Saudi Arabia and Russia extended additional supply cuts to the end of the year. Last week, Moscow temporarily banned gasoline and diesel exports to most countries in order to stabilise the domestic market, fanning concerns of low products supply especially for heating oil as the northern hemisphere heads into winter. In the United States, the number of operating oil rigs fell by eight to 507 last week, their lowest since February 2022, despite higher prices, a weekly report from Baker Hughes showed on Friday. Expectations of better economic data this week from China, the world's largest crude importer, also lifted sentiment.

SCL) in Mohali is underway and a committee has been formed to assess the bidders, a senior government official told ET. On September 22, the ministry of electronics & information technology (MeitY) issued an expression of interest (EoI) seeking commercial and technology players with necessary technological and operational expertise to modernise SCL.

Top global technology hardware brands have intensified talks with local companies that applied for the revised production-linked incentive (PLI) scheme to set up an ecosystem for making notebooks, desktops, and servers in India — and helping achieve the federal goal of 70% local output in three years for these items.“We have partnered with local OEMs (original equipment manufacturers) and already have a small-scale facility where we manufacture

Concord Biotech's strong foothold in the niche segment of manufacturing active pharmaceutical ingredients through fermentation along with its capacity expansion and planned launches are seen underpinning strong earnings growth for the company over the next three to five years, analysts said. They see Concord Biotech's shares gaining 15-30% from the current levels as earnings per share are expected to see a compounded annual growth of about 27% over the next three years. Shares of the Ahmedabad-based biopharma company, which listed a few weeks ago at a more than 20% premium, have notched another 9% gain since then. The shares topped ₹1,000 in intraday trade on Friday, before closing nearly 2% higher on the NSE at ₹983.40. «Founded by a technocrat, Concord's focus lies on niche, high-value molecules across immunosuppressants, anti-infectives and oncology, wherein complex fermentation processes and difficulties in scaling up are key entry barriers,» said Kotak Institutional Equities. Pegging the company as «the fermentation expert», the brokerage has an 'add' rating for its shares for a target price of ₹ 1,110. While Concord is trading at a premium valuation compared with most of its listed peers, it also has superior profitability, and this is seen improving further.

Content creation has become big, big business, with top social media stars able to build multi-million dollar, global enterprises on the back of an intelligently-curated YouTube channel or TikTok or Instagram account.

KRIBHCO) is investing around Rs 1,100 crore to set up three ethanol manufacturing plants using maize and broken rice as feedstock. These three plants are being set up in Gujarat, Telangana and Andhra Pradesh with a capacity of 250 kilo litre per day. «We are setting up three bio ethanol plants as part of our diversification plan,» KRIBHCO's Chairman Chandra Pal Singh said. Rajan Chowdhry, Managing Director, KRIBHCO, said these plants are expected to be operational by end of the next year. «We are investing around Rs 1,100 crore on setting up these three plants.

FDI) policy for the space sector by allowing up to 74% overseas ownership through the automatic route and up to 100% through the government route to attract top dollars from marquee global investors in satellite communications, senior officials told ET. Liberalised FDI limits are on the cards so that companies based in India can access the latest global technologies in a host of space-sector activities, including satellite manufacturing, satellite communications/operations and local production of satellite components, user devices and ground segment systems such as earth stations. Foreign direct investment up to 49% may also be permitted in satellite launch vehicle and associated system operations. «We expect the new FDI policy for the space sector to be approved soon.

pro-Kannada and farmer outfits have called for a Bengaluru bandh on Tuesday (Sep 26) to protest orders to release Cauvery water to Tamil Nadu. Normal life is expected to be disrupted on Tuesday as the Opposition BJP and JDS have pledged support to the bandh call, while the ruling Congress party's resistance seems only symbolic. Chief Minister Siddaramaiah has already said protests were part and parcel of democracy and the government would not try to stop them. Some trader organisations have also expressed their support. There were efforts by a section of Kannada outfits to drop Tuesday’s bandh, and instead go for a state-wide bandh on Sep 29 (Friday), but majority of farmer outfits have stuck to their Tuesday’s bandh call.

₹17,000 crore production linked incentive (PLI) scheme for IT hardware manufacturing, said a report by news agency PTI citing a government official. “Around 30-32 company may qualify for the (IT hardware PLI scheme.

PTI citing government sources. According to the report, the firm has crossed the $7 billion production mark in the last financial year. "Apple has plans to increase production in India to over $40 billion in the next 4-5 years.

production linked incentive scheme for IT hardware, according to a government official. As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI (production linked incentive) scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period. «Around 30-32 company may qualify for the (IT hardware PLI) scheme.