Manufacturing Financial News

Indian Air Force (IAF) has officially announced its intention to procure about 100 additional Made-in-India LCA Mark 1A fighter jets. During his visit to Spain, Air Chief Marshal VR Chaudhari, the Chief of the Indian Air Force, made this announcement while receiving the first C-295 transport aircraft. Speaking to ANI, he underscored the pivotal role of the Light Combat Aircraft (LCA) in replacing the aging MiG-series fleet, which includes the MiG-21, MiG-23, and MiG-27 aircraft. «With the retirement of these aging aircraft, it is imperative that we bolster our inventory with LCA class aircraft.

Audi's India unit said on Friday that any potential cut down on electric vehicle (EV) import taxes would help the German carmaker experiment better with models and pricing in the world's third-largest car market. «If we get a window of three to five years where the government is able to reduce the duties, it will let us experiment what models make sense for India and help in terms of pricing points,» Audi India head Balbir Singh Dhillon told Reuters on the sidelines of a showroom launch in Bengaluru. Reuters reported last month that the Indian government is working on a new EV policy that would slash import taxes for automakers that commit to some local manufacturing.

cocaine trade has consistently risen which means it could be Colombia's number one export as soon as this year. In an official statement, Hernandez said, "We estimate cocaine export revenues jumped to $18.2 billion in 2022 — not far behind oil exports of $19.1 billion last year.

Reserve Bank of India Governor C Rangarajan lauded India's ascent to become the world's fifth-largest economy, hailing it as an impressive achievement. However, he has also underscored the urgent need for India to accelerate its economic growth to improve the per capita income of the nation. Post Covid-19 and the Russia-Ukraine war, there is a need to lay down a clear roadmap for India's future development and the first and foremost task is to raise the growth rate, Rangarajan said in his address at the 13th Convocation of the ICFAI Foundation for Higher Education. Noting that India was today the fifth largest economy, he said, «this is an impressive achievement.» «However, in relation to per capita income, it is a different story.

With the drop in temperature, the right bedsheets can make all the difference, offering not only comfort but also a touch of luxury to your sleep sanctuary. Here is a selection of 7 winter bedsheets designed to provide unparalleled coziness, helping you embrace the beauty of winter while enjoying a peaceful and restful night's sleep.

“sacred fight" against Western imperialism. Both men are throwbacks. Mr Kim is the grandson of a tyrant imposed on North Korea by Stalin.

Lloyds Metals and Energy have offered massive returns to investors in the last 10 years, rising as much as 4400% over the decade. Accordingly, if an investor had invested Rs 10,000 in the stock 10 years ago and stayed put, the investment would have swelled to Rs 4.4 lakh, according to an analysis by ET Markets. In the last 3 years, the stock has surged 5100% and gave returns of 1,860% in the last five years. Lloyds Metals and Energy, a BSE500 company with a market capitalization of about Rs 28,944 crore, manufactures sponge iron. The company also operates a cogeneration waste heat recovery plant to recover heat from its kilns. It has an EPS of 20.70 on a trailing twelve month (TTM) basis and the stock is currently trading at a PB of 18.93. According to the latest shareholding pattern available with the exchanges, promoters own a majority of the stake at 65.75%, while the rest of 34.25% lies with public shareholders. Among the public shareholders, mutual funds and foreign investors have no stake, while retail investors have a combined holding of 5.68% in the company. Lloyds Metal has presently undertaken fresh geological surveys for iron ore reserves.

Piyush Goyal said on Friday.

Vande Bharat sleeper train as early as March next year, with the Integral Coach Factory aiming for a 2024 rollout. «Sleeper coach of Vande Bharat will be rolled out in the current financial year where the first train is under production and will be rolled out in March 2024,» BG Mallya, the General Manager of ICF, said. In addition to the sleeper train, the ICF is also building a new class of the affordable train, called the Vande Metro. According to officials, the Vande Metro is a 12-coach train that will be used for short-distance travel.

Advent International is exploring a sale of CCC Intelligent Solutions Holdings Inc, a provider of software to the car insurance industry that has a market value of $7.1 billion, people familiar with the matter said on Friday. Investment bank Morgan Stanley is advising CCC on its talks with potential acquirers, which include other buyout firms, the sources said, adding that no deal is certain.

Indian Railways will be rolling out the first version of Vande Bharat sleeper trains soon. According to details revealed by BG Mallya, the General Manager of Integral Coach Factory (ICF), "Sleeper coach of Vande Bharat will be rolled out in the current financial year where the first train is under production and will be rolled out in March 2024". The Vande Bharat sleeper trains will be a significant addition to the Indian Railways fleet, as they will allow passengers to travel long distances on these high-speed trains overnight.

Dr Reddy's Laboratories (DRL) has joined the race to acquire the biosimilar products portfolio of US-based Biogen in a transaction worth a potential $1 billion, according to two people aware of the development. Another Indian company in the fray is Intas Pharmaceuticals, Mint reported on September 13. According to reports, Samsung Bioepis is also a candidate to acquire the portfolio. Biogen joined hands with Samsung biosimilars production unit Samsung Biologics to establish Samsung Bioepis in 2012 for developing biosimilars. As part of exiting its biosimilars business, Biogen sold off its stake in Samsung Bioepis at $2.3 billion in February last year.

Enterprise software firm Ramco Systems is considering entering the defence sector in India in the maintenance, repair and overhaul (MRO) segment, newly appointed CEO Sundar Subramanian told ET in an exclusive interview.“We are interested in the Indian defence sector and are talking to government defence establishments,” he said.

finance ministry on Friday slammed a research report that claimed that India's 7.8% economic growth in the April-June quarter is overstated, as it defended the official estimates, saying if anything, the growth numbers might «understate the reality». This is because manufacturing growth indicated by the Index of Industrial Production (IIP) is far lower than what manufacturing companies are reporting, it added. In a post on X, the ministry said, «Ideally, critics would have done well to look at several other growth indicators to see if other data match their conclusions.» Industrial production grew 4.5% in the April-June quarter.

power capacity over the 49 GW already planned or under construction to meet future requirements, power minister RK Singh said on Friday.

NEW DELHI : The Drugs Controller General of India (DCGI) Rajeev Raghuvanshi has granted permission to three National Accreditation Board for Testing and Calibration Laboratories (NABL)- accredited private labs to conduct tests on cough syrups for exports. The private labs are: Bee Pharma Labs (Mumbai), Oasis Test House (Ahmedabad) and Shriram Institute for Industrial Research (Delhi). Prior to this, only government labs were authorised to test cough syrups for export.

NEW DELHI : Sterlite Technologies Ltd has invested $56 million and has officially opened its optic fibre and cable manufacturing facility in South Carolina, which will also serve as its North American headquarters, the firm said on Friday. Sterlite’s investment as well as expansion efforts reinforces its commitment to the US market, specifically in meeting the demand for 5G, fibre-to-the-premises, and rural broadband solutions.

defence ministry has cleared acquisition of 12 Su30MKI fighter jets for the Indian Air Force, in the biggest deal for Russian-origin equipment for the armed forces since the Russian invasion of Ukraine. The fighter jets will be made by Hindustan Aeronautics Limited and the deal for aircraft and associated equipment is likely to be around Rs 11,000 crore. This will include budget for modernisation of the larger fleet as well.

NEW DELHI : Noida-headquartered contract manufacturing firm, Dixon Technologies (India) Ltd, is in the process of inaugurating the setting up of a 1 million square-foot assembly facility for Chinese electronics brand Xiaomi, two people with knowledge of the matter told Mint. This will be one of two such new facilities by Dixon, the second of which is expected in one of the southern Indian states—and could cater to demand from other brands and product categories.

MUMBAI : Electronics giant Samsung, consulting and IT services leader Accenture and manufacturing conglomerate Larsen & Toubro (L&T) are among the early recruiters at the youngest Indian Institutes of Technology (IITs) this year, placement executives said. The compensation offered ranges from ₹6 lakh to ₹48 lakh. The IITs in Varanasi, Mandi and Bhilai, are the some of the first to start placements in September.

Stocks that are trading heavily or have substantial price changes on Friday: Nucor, Planet Fitness fall; Newmont, Frequency Electronics rise