Manufacturing Financial News

Piyush Goyal on Tuesday suggested the auto industry not to import components unnecessarily if the exporting country is not giving equal access to Indian players. He however said that companies can import quality products if those are not available or manufactured domestically. «Where things are being unnecessarily imported without India getting an equal opportunity in those countries I would be tempted....,» he said here at the annual convention of the Society of Indian Automobile Manufacturers. He did not elaborate on these remarks. Goyal also said that the government may have to look at the practices of some of the players in the sector who get dictated by their parent companies on sourcing and pricing of imports of components.

By Rajesh Kumar Singh, Abhijith Ganapavaram and Valerie Insinna

₹2,000 crore. Interestingly, ‘deal value’ would also include the value of any investment in the target by any acquirer group entity in the last two years. The need to introduce new-age merger thresholds (alongside more traditional turnover-based thresholds) assumed significance after Facebook’s acquisition of WhatsApp escaped antitrust scrutiny despite its deal value being $19 billion.

Rajnath Singh on Tuesday called upon domestic defence companies to invest more in research and development for India to keep pace with the evolving world. Addressing the North-Tech Symposium, jointly organised by the army's Northern Command, the Society of Indian Defence Manufacturers (SIDM) and IIT-Jammu, Singh described the country's defence manufacturing sector as «imaginative, innovative, dynamic and progressive». «Though research and development (R&D) is a risky venture as it requires out-of-the-box thinking and sometimes does not give desired results, it still remains one of the basic elements for the development of any country,» he said.

More than one-third of Australian businesses are struggling to achieve their carbon emission reduction targets, according to a new survey.

world economy. It argues a renewed drive towards integration - "re-globalization" - is the way to tackle current problems of security, poverty and climate change.

Columbia Petro Chem, part of Universal-Halwasiya Group and its promoter Aditya Halwasiya, on Tuesday said they have made Rs 113-crore open offer to acquire up to 3.47 million equity shares or 26% stake of Nashik based condom maker Cupid shares at ₹325 apiece. The open offer follows Universal-Halwasiya Group and Family through Columbia Petro Chem Private Limited and Halwasiya, entering into a definitive agreement to acquire 5.58 million shares or 41.84 per cent of Cupid Limited at Rs 285 per equity share aggregating to Rs 159 crore from its existing promoters, Omprakash Garg and Veena Garg. The transaction is subject to shareholder and other customary closing conditions and approvals. As per SEBI regulations, the offer price will be paid in cash by the acquirers. Universal-Halwasiya Group and Family have appointed Monarch Networth Capital Limited, as the Manager of the offer. Cupid is India’s leading manufacturer of male and female condoms, water based lubricant jelly and (invitro diagnostic (IVD) kits.

India's industrial production rose by 5.7 per cent in July, according to the official data released on Wednesday. For the month of July 2023, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 142.0.

North Korea, Russia, and China on one side against South Korea, Japan, and the United States. In case North Korea chooses to supply arms to Russia, the already heavy Western sanctions against the country can intensify. The experts claim that Russia has everything, the troubled North Korean economy demands.

iPhone 15 will bring substantial improvements, particularly in the premium segment. As per Bloomberg, the Pro variants will showcase a redesigned chassis, replacing stainless steel with titanium. Additionally, the flagship model, the Pro Max, will boast an enhanced telephoto camera for superior photography.

₹23 per equity share and the share will be listed on the NSE SME exchange Thursday, September 21. Jiwanram IPO, which is worth ₹17.07 crore, is completely a fresh issue of 74,22,000 equity share; there is no offer for sale (OFS) component. The face value of the equity shares is ₹10 each and the issue price is 2.30 times of the face value.

By Joanna Plucinska, Valerie Insinna and Max Hunder

made in India. Apple Inc plans to make iPhone 15, manufactured in India, available in the South Asian country, reported Bloomberg citing sources. (This is a breaking, refresh for updates)

climate change, enhancing national security and correcting for four decades of globalisation during which workers suffered and growth slowed. In the emerging world, governments hope that subsidies can secure a foothold in supply chains as worried Westerners move production out of China. The sums being spent are vast, and growing.

Hindalco Industries Limited on Tuesday said it has signed a technology partnership with Italy-based Metra SpA, to bring latest aluminium extrusion technology to India for building rail coaches. The company will set up an extrusion press in the country as part of the ₹2,000 crore investment that Kumar Mangalam Birla, chairman of the company, had announced during the company’s 64th annual general meeting (AGM) last month. “We are even more excited to partner Indian railways and the passenger coach manufacturing ecosystem for the ambitious high-speed Vande Bharat trains.

IndiGo is looking to induct up to 22 aircraft from the secondary lease market as it faces grounding of several Airbus A320 Neo aircraft powered by Pratt & Whitney engines. Over 1,000 P&W engines will need to be inspected after the manufacturer found that contamination of powder metal defects could lead to the cracking of some engine components. US-based aerospace major RTX which manufactures the P&W engines on Monday said that it will have to recall 600-700 engines from 2023 to 2026, leading to the grounding of an average 350 aircraft a year. IndiGo with 135 planes has the largest potentially affected fleet.

diesel vehicles unless automakers voluntarily move away from the fuel, Minister of Road, Transport & Highways Nitin Gadkari (MoRTH) said. Speaking at the 63rd Annual Convention of Society of Indian Automobile Manufacturers (SIAM) Gadkari said he would propose that the Ministry of Finance levy 10% additional GST on diesel driven vehicles to curb use of the fuel. “I would urge you to reduce production of diesel vehicles. If you don’t reduce, we have to increase taxes.

Amrit Kaal'. In his message to the annual convention of the Society of Indian Automobile Manufacturers (SIAM), Modi acknowledged the role of the auto industry in the country's growth. «In today's India, mobility in its various forms is a key driver of growth.

GST on diesel engine vehicles, a move aimed at boosting climate-friendly vehicles in one of the most polluted countries. Calling it a 'pollution tax', Nitin Gadkari at the 63rd SIAM Annual Convention said it is the only way to reduce the usage of diesel vehicles in the country. «Request industry to reduce production of diesel vehicles else imposing additional tax will be necessary,» Gadkari said. “I would urge you to reduce production of diesel vehicles.

«No, I do not think we peaked at all. When you look at capex particularly in infrastructure, infrastructure will go on for the next couple of years,» says Sunil Mathur, MD & CEO,Siemens India.How would you view the current situation in India?There is a lot of interest in manufacturing. A lot of fresh capacity is coming up. Companies are looking at diversification. India is definitely a good place to be in and we see things happening. We see real traction on the ground. So, I believe it is not just a vision, that vision is slowly getting realised and that is what makes it so exciting.

Biotech deals which fetch 20-times sale multiples give Street Talk the tingles: here’s a new name to watch.