Manufacturing Financial News

Indian market with an ex-showroom price of ₹8.49 lakh. This high-performance fully-faired motorcycle is available in India as a completely built unit (CBU), leading to its premium pricing. It finds its place in Kawasaki's India lineup between the Ninja 650 and Ninja 400.

By Valerie Insinna and Abhijith Ganapavaram

Investing.com — U.S. futures traded slightly higher Monday, ahead of the release this week of fresh inflation data which could give guidance of future Federal Reserve monetary action.

US International Development Finance Corporation has approved a financial aid of up to USD 425 million (Rs 3,521 crore) to Tata Power Renewable Energy Ltd for setting up a 4.3 GW solar cell in Tamil Nadu by its subsidiary. The plant's first module production is expected by year-end and the first cell production is expected in the first quarter of the financial year 2024-25 (FY25), Tata Power Renewable Energy Ltd (TPREL) said in a statement on Monday. «The US International Development Finance Corporation board of directors approved USD 425 million of financing in TP Solar Ltd, a subsidiary of TPREL, for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli,» the statement said. «We appreciate the DFC's assistance for our solar cell and module production facility in Tamil Nadu.

ET has gathered that the India-US Global Challenges Institute will soon take off as a virtual platform with a ten-member Governing Council co-chaired by the two countries and a physical secretariat/program office expected to be housed in New Delhi. While IIT Kanpur will lead the initiative from India with Director Abhay Karandikar representing Indian institutes as India’s co-chair, the US side is expected to bring in Association of American Universities President Barbara R Snyder as co-chair. The Institute will start off with a $10mln seed funding- jointly pitched by the US and India- to fund collaborative R&D in five-six key areas across partner institutes in the two countries. The first set of areas identified for collaboration are- sustainable energy and agriculture, health and pandemic preparedness, semiconductor technology and manufacturing, advanced materials, telecommunications, artificial intelligence, and quantum science. ET gathers that the Institute will start off with five joint research projects- funded with $2million each. The idea is have two lead institutes from both countries for each project and these in turn will be linked to several other project specific institutes- like a hub and spoke model. A Memorandum of Understanding (MoU) has already been inked between Indian universities, represented by the Council of Indian Institutes of Technology (IIT Council), and the Association of American Universities (AAU) to establish the India-U.S.

Saudi Arabia have signed a memorandum of understanding on cooperation and investment in renewable energy, energy efficiency, hydrogen, electricity, and grid interconnection. The pact also includes cooperation on petroleum, natural gas, strategic petroleum reserves and energy security, sources aware of the development said. Circular carbon economy and technologies like carbon capture, utilization and storage also found place in the agreement. The move comes right after the G20 New Delhi declaration, where a consensus was formed on various issues, including an effort for tripling renewable energy capacity by 2030 and phasedown of unabated coal power. India’s National Green Hydrogen Mission aims for at least 5 million metric tonnes of annual production capacity by 2030 through renewable energy sources, whereas Saudi Arabia’s clean hydrogen is likely to be based on low carbon emission technologies. Partnership on localising sourcing material, products and services related to the energy sector, and supply chains and its technologies, were agreed on. The countries will strengthen the cooperation with energy companies, promote digital transformation, innovation, cyber-security, and artificial intelligence in the energy sector. As per India’s green hydrogen mission, the country aims to be an export hub for the fuel.

passenger vehicles in the country increased to its highest-ever level last month on back of robust demand for sports utility vehicles, however, wholesale volumes of entry cars and motorcycles remained weak due to pressure on disposable income of consumers at the lower end of the market. According to data available with industry body Society of Indian Automobile Manufacturers (SIAM), as many as 359,228 passenger vehicles were sold in August, which is an increase of 9.4% over 328,376 units sold in the corresponding period of the last financial year.Vinod Aggarwal, President, SIAM said, “Last month saw the highest ever August month sales for passenger vehicles and three-wheelers, while two-wheeler sales remained at levels similar to a year ago. We have also observed good growth in commercial vehicle segment in August 2023. Demand remained strong especially for newer models launched in the utility vehicle segments by Maruti Suzuki, MG Motor and Hyundai, mirroring the shift in consumer preference towards feature-packed larger cars.

By Giuseppe Fonte

Arvind Kejriwal-led government have stressed the need to ‘look after the environment’ and reduce pollution levels in winter. Under the new rules, the manufacturing, storage, sale, online delivery and bursting of any type of firecrackers would be wholly prohibited in the national capital. “Chief Minister Kejriwal has decided that firecrackers should be banned on the occasion of Diwali to control pollution.

Desert Technologies (DT) an independent solar PV and smart infrastructure holding company and Essar Group have signed a Memorandum of Understanding (MOU) to develop renewable energy solutions for Essar Group’s Green Steel Arabia (GSA) project in the Kingdom of Saudi Arabia (KSA) as well as potential future projects. The MOU was executed between Desert Technologies and Essar Group in the G20 summit on Monday. The companies said, through this partnership, they will develop solutions for renewable energy generation and storage for Essar’s Flat Steel Complex in the KSA which is the first green steel project in the GCC region and will also explore opportunities for other potential projects. “Desert Technologies's MOU with Essar signifies our long-term commitment to meet the growing demand for renewable energy solutions; especially in the KSA. Its solutions in the renewable energy sector, price competitiveness and low Carbon footprint solutions will further boost the growing low CO2 emission steel industry," said Chief Executive Officer of DT Investments, Khaled Sharbatly. Based in Saudi Arabia, and operating in more than 25 countries, Desert Technologies has a proven track record as a PV developer, investor, EPC and O&M contractor, PV solar panel manufacturer, and energy storage systems integrator. Essar is currently looking at investing about $4.5 billion in setting up an integrated steel plant in Ras Al Khair, Saudi Arabia.

It all started about six decades ago when the Unit Trust of India launched the Unit Scheme-1964 scheme or US 64 as it was popularly known. UTI held sway over the mutual funds market for nearly 25 years thereafter before the space was thrown open to other state-owned players. But even after the private sector was allowed entry it took until May, 2014 for the average assets under management (AAUM) to hit the Rs 10-trillion mark. That had probably less to do with the chequered career of US 64 than the low levels of awareness of the stock market. However, over the last decade the value of assets has soared, crossing Rs 46 trillion in July; in the last three years, the industry clocked in a compounded annual growth rate of nearly 20%. Now, given how fast folios are being added and how the stock market is booming, the Rs 50 trillion mark seems just round the corner.

Nifty50 stocks surged to reach new 52-week highs. These stocks include Maruti Suzuki India, HCL Technologies, LTI Mindtree, and Titan Company. The data was sourced from StockEdge at 2:20 p.m., and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.

midcap stocks surged to reach new all-time highs. Notable midcap stocks include Indian Railway Finance Corporation (IRFC), JSW Energy, Tata Communications, Devyani International, NHPC, REC, Oberoi Realty, Bharat Forge, Federal Bank, and Shriram Finance. The data was sourced from StockEdge at 2:00 p.m., and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.

«A lot of people were in denial mode but there is a major market shift. 55 is the new 32 for TVs,» said Avneet Singh Marwah, CEO at Super Plastronics Pvt Ltd, which is a brand licensee of five major global brands — Thomson, Kodak, Blaupunkt, Westinghouse and White-Westinghouse (trademark of Electrolux). Yet, this potentially implies more than just consumers' increasing preference for viewing thrilling sports or dramatic productions on a bigger screen.

Delhi government on Monday banned the manufacturing, storage, sales and use of firecrackers in the national capital completely. The Delhi Police issued instructions and said that it will not be providing any licenses related to firecrackers. The move comes as part of action plan to curb pollution in winters.

Tata Power Renewable Energy Limited (TPREL), has raised $425 million in financing from the U.S. International Development Finance Corporation’s (DFC) Board of Directors for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India. TPREL is a subsidiary of The Tata Power Company Limited, an integrated power company.

₹3.11 lakh. Interested buyers can reserve their 2024 KTM 390 Duke by placing a booking on the manufacturer's official website, requiring a token payment of ₹4,499. Anticipated delivery of the 2024 KTM 390 Duke is set to commence prior to the onset of the festive season.

car giant BMW is to make a multi-million pound investment in its Mini plants in the UK, the government in London said Monday. The money will be used to «transform» BMW's plant in Oxford, southern England, «securing 4,000 high-quality jobs and strengthening the electric vehicle supply chain,» the government said in a press release. «BMW's investment is another shining example of how the UK is the best place to build cars of the future,» said Prime Minister Rishi Sunak. «By backing our car manufacturing industry, we are securing thousands of jobs and growing our economy right across the country,» he added, with his government having offered tens-of-millions of pounds in support for BMW. The first generation of the iconic British vehicle's electric model was launched at the Oxford plant in 2019, but last year BMW announced most of its electric cars would be made in China. The investment is expected to be used to make the plant fit for making electric vehicles, with all Minis set to be electric by 2030. «Today's announcement by BMW, coming a week after electric vehicle production started at Stellantis's site at Ellesmere Port, clearly shows that the government's plan for the automotive sector is working,» said Business and Trade Secretary Kemi Badenoch.

Indian sugar stocks have been in the limelight for past two weeks with marquee scrips rising as much as 15-20%. This is amid concerns about a global sugar shortage. Avlean, the world's largest sugar trader, recently said it expects a sixth straight year of sugar deficit, as supply will be affected by a poor harvest in India.

Apple is set to unveil the iPhone 15 series at its 'Wonderlust' event tomorrow. The event will begin at 10:30 pm (Indian time) on 12 September at the company's headquarters in Cupertino. Here's a list of all the launches expected at the Apple event: The star of tomorrow's Apple event will be the four new iPhones launched this year - the iPhone 15, 15 Plus, 15 Pro and the iPhone 15 Pro Max.

India and France on Sunday decided to focus on early finalisation of the Defence Industrial Roadmap when PM Narendra Modi met French counterpart Emanuel Macron over a lunch meeting here following the G20 Summit. The leaders reiterated their commitment to strengthen the defence cooperation through partnership in design, development, testing and manufacture of advanced defence technologies and platforms, and expand production in India, including for third countries in Indo-Pacific and beyond. In this context, they also called for early finalisation of the Defence Industrial Roadmap, according to a joint statement issued following the talks. Laying emphasis on areas such as digital, science, technological innovation, education, culture, health and environment cooperation, both leaders called for strengthening of institutional linkages in these domains, on the model of the Indo-French Campus for the Indo-Pacific.