Manufacturing Financial News

₹784 crore in FY22, up from ₹199 crore in FY21. Its revenue rose from ₹86 lakh to ₹373 crore in the period. The company has not filed its FY23 financial statement yet, but a Reuters report on 28 July said Ola Electric has registered an operating loss of $136 million on a revenue of $335 million.

New Delhi: State-owned REC Ltd is looking at expanding its loan portfolio for green projects to ₹3 trillion by 2030, said its chairman and managing director Vivek Kumar Dewangan. Addressing the 54th annual general meeting (AGM) of the company, the CMD said that going forward REC would be known for its renewable energy initiatives across solar, wind, hybrid, and e-mobility projects, along with newer spaces like green hydrogen, green ammonia projects, round-the-clock projects and ethanol manufacturing.

By Scott DiSavino and Nerijus Adomaitis

IPO. The IPO with a face value of Rs 2 consists of a fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to 9.13 million by the promoter and other selling shareholders. Under the OFS, Sunil Suresh and Shubha Sunil plan to offload up to 1.18 million equity shares, and Oman India Joint Investment Fund II plans to sell up to 5.54 million shares. Other selling shareholders include Kiran Bhanu Vuppalapati and Sridevi Venkata Vuppalapati. In 2018, Oman India Joint Investment Fund had invested in the company, securing a 26% ownership stake.

industry representatives from the steel sector on Wednesday held discussions on implementation issues regarding the European Union's move to impose carbon tax, sources said. The meeting was called by the commerce ministry and was chaired by Commerce Secretary Sunil Barthwal.

‘India for India’ and ‘India for Export’ strategy.”Bangalore: Nidec Corporation is the world’s leading electric motor manufacturer, with over 340 group companies and 1 lac employees worldwide. The company recorded $17B in sales last year Nidec’s Motion & Energy Business Unit marked a significant milestone with a Groundbreaking Ceremony for an ambitious project in India at the Kotur-Belur Industrial area of Hubli-Dharwad, Karnataka. Nidec has a robust Indian manufacturing presence with seven manufacturing bases in operation today.

Responsible Jewellery Council (RJC). Founded in 2005 and now with members globally in 71 countries, the RJC is the world’s leading standard-setting organisation for the jewellery and watch industry. Its Code of Practices (COP) is the global standard for the responsible jewellery and watch industry, focusing on business ethics and responsible supply chains covering all the primary minerals and metals used in the manufacture of jewellery -gold, silver, platinum group metals, diamonds and coloured gemstones. Mr.

Ashok Leyland Executive Chairman Dheeraj Hinduja said on Wednesday. The Hinduja Group flagship Ashok Leyland is the second largest commercial vehicle manufacturer in the country.

(Reuters) — The U.S. services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs — potential signs of still-elevated inflation pressures.

Bloomberg on 6 September. On Wednesday, the UK’s Civil Aviation Authority said it will conduct an independent review of the incident, which forced hundreds of flights to be canceled or delayed last week after an error in processing an airline’s flight plan. According to a preliminary report from the public-private partnership formerly called National Air Traffic Service, the glitch triggered a shutdown of the software system run by NATS for safety reasons.

Ather Energy on Wednesday said it had secured Rs 900 crore in funding from two-wheeler major Hero MotoCorp and Singaporean sovereign wealth fund GIC. Both investors are existing shareholders in Ather, with Hero MotoCorp already owning a 34.2% stake in the firm prior to the latest investment. Hero is also Ather’s largest shareholder, according to data from Tracxn.

(Reuters) — China ordered officials at central government agencies not to use Apple (NASDAQ:AAPL)'s iPhones and other foreign-branded devices for work or bring them into the office, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

wind energy component and sub-component manufacturers will help scaling up installed manufacturing capacity in the country, said an industry expert.

Senco Gold today said it has become a member of the Responsible Jewellery Council, the world’s leading standard-setting organisation for the jewellery and watch industry. The move is a step towards the company's sustainability journey and Senco said they are the first large jewellery retailer from India to become a member of the Responsible Jewellery Council. «Trust is the cornerstone in the world of retail jewelry and we look forward to building on our association with the RJC to create an ecosystem of responsible practices as a core of sustainability strategy and fulcrum of our future endeavours,” said Suvankar Sen, Managing Director & CEO, Senco Gold. RJC's Code of Practices is the global standard for the responsible jewellery and watch industry, focusing on business ethics and responsible supply chains covering all the primary minerals and metals used in the manufacture of jewellery: gold, silver, platinum group metals, diamonds and coloured gemstones, Senco noted. India is a hugely important market for us and for the jewellery industry as a whole, said Melanie Grant, Executive Director, RJC. Senco Gold ended Wednesday's session with gains of nearly 3 per cent, while the benchmark indices closed up 0.15 per cent.

industrial development scheme for Himachal Pradesh and Uttarakhand. The additional fund was required to meet the committed liabilities under the Industrial Development Scheme, 2017 for 774 registered units up to 2028-29. The additional fund was approved as the total financial outlay of Rs 131.90 crore was exhausted during April 2017-March 2022. «The requirement of an additional fund to meet the committed liabilities up to 2028-2029 is Rs 1,164.53 crore.

clinical trial data showed its updated COVID-19 vaccine shot generated an 8.7-fold increase in neutralizing antibodies in humans against the highly-mutated BA.2.86 subvariant of the coronavirus that has raised fears of a resurgence of infections, Reuters reported on Wednesday. “We think this is news people will want to hear as they prepare to go out and get their fall boosters," Reuters quoted Jacqueline Miller head of infectious diseases in Moderna said in an interview, adding that the data should also help reassure regulators.

PepsiCo was performed in Assam's Nalbari district on Wednesday. Chief Minister Himanta Biswa Sarma participated in the programme and said that the state is looking at a bright future in terms of private investment. «Today we marked the beginning of a Rs 770 cr PepsiCo plant in Nalbari.

Donald Trump's economic agenda for if and when he returns to power to govern the United States after the 2024 US presidential Polls, includes levying harsher trade and tax policies on countries like India and Brazil, if the latter was found imposing higher tariffs on American Goods. The ex-president, Donald Trump, intends to center his economic plans on extending and deepening the Republican tax cuts from 2017, rolling back regulations put forth by President Joe Biden and enacting additional tariffs, according to three people familiar with the discussion.

Rishabh Instruments will likely be finalised on Wednesday. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

MidCap Index stocks reached remarkable milestones today, hitting new all-time highs on September 6. This surge in stock performance reflects the confidence of investors in these companies' growth prospects. 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.1. Fertilisers and Chemicals TravancoreFertilisers and Chemicals Travancore, a key player in the fertilizers and chemicals sector, soared to a new all-time high of Rs 518.2. Syngene InternationalSyngene International, a renowned name in the contract research and development industry, marked an impressive all-time high at Rs 845.3. Indian Hotels CompanyIndian Hotels Company, which operates iconic hospitality brands, reached a new all-time high of Rs 431.8.4. Coromandel InternationalCoromandel International, a leader in the agribusiness and crop protection sector, surged to a new all-time high at Rs 1139.5. Bharat ForgeBharat Forge, a prominent player in the manufacturing and engineering industry, achieved a new all-time high at Rs 1110.6. Polycab IndiaPolycab India, a leading name in the cable and wire manufacturing industry, reached an all-time high at Rs 5333.7. Persistent SystemsPersistentSystems, a top player in the IT and software services sector, surged to a new all-time high at Rs 5958.8. Oberoi RealtyOberoi Realty, a renowned real estate developer, marked an impressive all-time high at Rs 1160.95.9. ZF Commercial Vehicle Control Systems IndiaZF Commercial Vehicle Control Systems India, a leader in the automotive technology sector, achieved a new all-time high at Rs 16766. (Disclaimer: This is an AI-generated article.

ABB India and Tata Steel have partnered to jointly work on technologies for reducing the carbon footprint of steel production. The steelmaker has a medium-term target to reduce carbon emissions to less than two tonnes of Co2 per tonne of crude steel in its Indian operations by 2025, ABB India said in a statement. «Tata Steel Ltd and ABB India have signed Memorandum of Understanding (MoU) for a project and will work together to co-create innovative models and technologies to help reduce the carbon footprint of steel production,» the statement said. Under the MoU, the two companies will focus on system-level assessments of Tata Steel's manufacturing plants and production facilities for evaluation and co-development of short and long-term options for energy efficiency, decarbonization and circularity. ABB and Tata Steel will explore energy optimization via hydrogen as an alternative fuel for upstream processes and energy reduction as well as substitution through fully integrated electrification and digital systems.