Manufacturing Financial News

Adani Wind, the wind energy solutions division of Adani New Industries Limited (ANIL), on Wednesday announced that its 5.2 MW Wind Turbine Generator (WTG), which is India’s largest, has received type certification from WindGuard GmbH. The certification enables Adani Wind to start series production for global markets. It also acknowledges Adani WTG’s conformity with the globally recognized IEC 61400 series standards and regulations for design, testing and manufacturing. WindGuard carried out the testing of the WTG prototype, installed at Mundra, Gujarat, said the company statement. «The type certificate reaffirms the quality and robustness of our 5.2 MW WTG platform built to bring down Levelized Cost of Energy (LCOE). The certification is a boost to our endeavor of making India the global manufacturing hub for renewable equipment,» said Vneet Jaain, Director, Adani New Industries Limited. «We are focused on building a portfolio of high-yield next generation wind turbines made in India and are well-poised to cater to the global wind energy demand,” he added.Adani Wind’s 5.2 MW wind turbine features a rotor diameter of 160 meters with a swept area of 20,106 square meters and a tip height of 200 meters. The 5.2 MW WTG is developed by Adani Wind in collaboration with W2E Wind to Energy GmbH, Germany. »The certification is a testament to our R&D efforts focused on enabling higher Annual Energy Production (AEP) of wind power plants and enhancing the profitability for customers," said Milind Kulkarni, COO, Adani Wind. The company has an integrated manufacturing ecosystem for WTG located at Mundra, Gujarat.

Wadia Group entity Bombay Dyeing & Manufacturing Company (BDMC) has approved the plan to sell around 22 acres land parcel along with its associated floor space index (FSI) to a subsidiary of Japanese realty developer Sumitomo Realty & Development Company for a total of Rs 5,200 crores. The entire transaction with Sumitomo will be completed in two phases including the first tranche of Rs 4,675 crore. The balance Rs 525 crore will be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements for the second phase.

Apple has refreshed its iPhone line-up with the launch of the iPhone 15 series, including the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. These phones will be available in India and 40 more countries starting September 22. Sources familiar with the matter said that Apple will make India-built iPhone 15 units available to Indian customers and customers in “some other regions” on the first day of sales.

renewable energy of India and the Ministry of Energy of Saudi Arabia – MoC (Memorandum of Cooperation) between the Ministry of Communication and IT of Saudi Arabia and MEITY of India in the field of Digitization and Electronic Manufacturing – MoU between the CVC of India and the Saudi Oversight and Anti-Corruption Authority – MoC between the National Archives of India and King Abdulaziz Foundation of Saudi Arabia in the area of archival cooperation – Framework of Cooperation on Enhancing Bilateral Investment between Invest India and the Ministry of Investment of Saudi Arabia – MoU between Saudi EXIM Bank and EXIM Bank of India – MoU for Cooperation in the Technical Field & Establishment of the Small and Medium Enterprises Bank between SIDBI and SME Bank of Saudi Arabia – MoU on Seawater Desalination between National Institute of Technology of India and Saline Water Conversion Corporation of Saudi Arabia There were also more than a dozen MoUs between private companies facilitated by Invest India and the Ministry of Investment of Saudi Arabia. Additionally, both the countries plan to channel $100 billion in investments pledged by the Saudi Prince in 2019.

Mamata Banerjee was asked by Sri Lanka's President Ranil Wickremesinghe if she would be leading the Opposition INDIA bloc, upon a chance meeting at Dubai Airport. CM Banerjee who met Wickremesinghe at the Dubai airport was also amused by the question. The Trinamool Congress (TMC) Supremo who has embarked on a tour to Dubai and Spain, replied to President Wickremesinghe, “If people support us, we can be in a position (power) tomorrow".

renewable energy to power this manufacture. This aligns squarely with India’s aspirations to become a pivotal hub in the green hydrogen ecosystem, making it one of the few nations to set a concrete benchmark in this emerging sector.

electric vehicle subsidies will end, a high-level official was quoted as saying by the ET Auto. «India will be a global giant in all sectors of electric vehicles (EVs) by 2030.

FDI proposal for foreign investment of up to Rs.9589 crore in Suven Pharmaceuticals Limited by private equity firm Advent International through its Cyprus based Berhyanda Ltd. Advent International has entered into a definitive agreement in December last year to acquire a 50.1% stake in Hyderabad-based Suven Pharmaceuticals, a listed contract research and manufacturing services (CRAMS) firm promoted Venkat Jasti and his family members for Rs 6,313 crore paying ₹495 per share.

China has not issued a ban on the purchase and use of foreign phone brands, the Chinese foreign ministry said on Wednesday, in response to media reports that said some government agencies and firms had told staff to stop using Apple's iPhones at work. «China has not issued laws, regulations or policy documents that prohibit the purchase and use of foreign brand phones such as Apple's,» foreign ministry spokesperson Mao Ning told a regular press briefing when asked about the reports.

(Reuters) — The highest inflation for decades and the fallout from war in Ukraine have forced companies across Europe into layoffs or hiring freezes.

Investing.com — U.S. futures traded marginally lower Wednesday, as investors cautiously awaited the release of consumer inflation data which could provide clues as to future Federal Reserve monetary policy.

Technological advancement has paved the way for a future where the most imperative skill is the ability to have multiple skills. As competition grows, industries grow and so do their requirements. To keep up with matching demands, companies are fast employing machines to mass produce products that would otherwise be manually assembled, and the white goods manufacturing industry is no different. The labour force working in this industry in fact needs to reskill and upskill a lot faster as the demand for white goods soars. India is currently a hub of manufacturing for several goods and to keep up with this growing demand, there is a need to upscale.

Gadkari retracts six airbag statement, says government will not make it mandatory. In 2022, Gadkari had said Indian Government has made it mandatory to have 6 airbags rule for passenger cars. The rule was reportedly set to come into force in October, 2023.

₹111 per share, 76.2% higher than the issue price of ₹63. Pramara Promotions share price extended gains post listing and were locked at 5% upper circuit following stellar debut. Pramara Promotions shares touched intraday high of ₹116.55 and low of ₹105.55.

BRUSSELS—The European Union is launching an antisubsidy investigation into China’s electric-vehicle makers, opening a new front in the battle for leadership of the global clean-technology industry. The probe, announced Wednesday, reflects growing concern in Europe about the impact of low-price products from China on the bloc’s domestic industries. It could result in tariffs if officials from the European Commission, the bloc’s executive body, conclude that Chinese EV manufacturers are receiving subsidies that are hurting Europe’s auto industry.

₹65 per share, 22.6% lower than the issue price of ₹84. However, Saroja Pharma share price gained and ended at 5% upper circuit at ₹68.25 apiece, which was still 18.75% lower than the IPO price of ₹84. Saroja Pharma Industries IPO subscription status was 8.88 times on day 4.

Investing.com — The U.S. dollar stabilized in early European trade Wednesday, as traders cautiously awaited the latest U.S. inflation data, while sterling weakened after the U.K. economy contracted by more than expected in July . 

Investing.com — European stock markets weakened Wednesday after the U.K. contracted by more than expected in July, while investors braced for key U.S. inflation data.

EPIC Foundation, a not-for-profit organization founded by industry veterans and co-founders of HCL, Ajai Chowdhry and Arjun Malhotra, have announced the launch of two ‘Made In India’ products by signing an MOU with Karnataka Digital Economy Mission (KDEM). Their aim is to turn India into a global hub for electronic hardware product design and manufacturing while imparting education and empowerment. With a skilled young workforce, combined with partnerships and government support, the foundation believes India can emerge as a dominant player in the electronics industry, contributing significantly to a US $400 billion Electronics sector. According to a statement, as part of this initiative, the foundation has announced the launch of two products- a) LED Driver Chip, designed by a startup in Bengaluru, to replace a Chinese counterpart and b) 100% designed in India tablet with unique features such as repairability and upgradability while aligning with the principles of sustainability. Ajai Chowdhry, Chairman of EPIC Foundation and a member of the MeitY task force, said in a statement, «EPIC Foundation aims to be the interface between Industry and State Government with MEITY, Niti Aayog DST and DPIIT to address key challenges and recalibrate the policies.

Also Read: Jupiter Lifeline IPO allotment expected today: Latest GMP, here's how to check allotment status Kahan Packaging share price will get listed on the BSE SME on Monday, September 18. If you applied for the shares, here's how you can check allotment status of Kahan Packaging IPO. If you have applied for the Kahan Packaging IPO, you can check your Kahan IPO allotment status immediately on the website of the IPO registrar, Purva Sharegistry India Pvt Ltd.

«If I were to look at the production and sales numbers of, let us say, the automotive OEM segment, particularly the passenger vehicles, both the sales and the production numbers for the month of August show an increase of almost 12% over the same period last year,» says Harsha Kadam, MD & CEO, Schaeffler India.Let us start off with the acquisition. What kind of revenue and margin impact do you see?Well, at the point time when we made the acquisition, Koovers already had a turnover of about Rs 77 crores and we have bought the company at about 140 odd crores. And we have a clear strategy to scale this up and as I mentioned earlier, today Koovers is operating only in the South of India and we want this to be scaled up to a pan-India level. So, obviously this can only mean an upward growth in the sales volumes.But last quarter you did see strong performance in the auto aftermarket and industrials, which was partly offset I guess by the muted show in auto OEMs. Are you seeing any recovery in that segment?If I were to look at the production and sales numbers of, let us say, the automotive OEM segment, particularly the passenger vehicles, both the sales and the production numbers for the month of August show an increase of almost 12% over the same period last year.