Manufacturing Financial News

HUL — India's biggest consumer goods firm — is piloting a new technology to manufacture key raw materials of detergents, soda ash and silicate, which will significantly reduce greenhouse gas emissions. For its parent Unilever, India will also be the first market for the initiative of having near zero soda ash through green ammonia by partnering with suppliers and vendors for its sustainability agenda. «This is not green for the sake of being green. At the heart of it is we take consumer pain points, and we need products that are superior, affordable, and sustainable.

₹10 lakh. This is in stark contrast to the national average loan request of around ₹33 lakh," Mehra added. Enrolments from Punjab were 4x for the April-June quarter of FY24 versus the same period in FY23, said Ankur Dhawan, president, upGrad Abroad.

economic development at Dubai’s Department of Economy and Tourism, said in an interview. Under the Comprehensive Economic Partnership Agreement (CEPA), the UAE, of which Dubai is a part, and India plan to expand non-oil trade to $100 billion by 2030, from just $50.5 billion in April, he said. Dubai is in talks with Indian manufacturers who are looking at the emirate as a distribution hub, he added.

Tata Steel, and Bharat Heavy Electricals. These orders—let’s say to make 1,000 precision parts that will go into an aircraft—are next routed to the right manufacturers in its network. Manufacturers quote their prices and the work is finally sub-contracted.

₹57,613 crore PM-eBus Sewa scheme, but stagger it over a period of seven years and release funds based on the distance travelled by these 10,000 e-buses on a per kilometre basis, two people with direct knowledge of the matter told Mint. “After the buses are tendered, the central government will pay on a per kilometre basis, and will not make an upfront investment for these schemes," said the first person mentioned above, a senior government official, who spoke under the condition of anonymity. “The private sector will operate these buses.

NEW DELHI : The steel ministry is seeking the release of around ₹4,000 crore of unused funds from the existing production linked incentive (PLI) for specialty steel to enable it to launch an expanded version— PLI 2.0—for steel grades used in making defence equipment and automobiles, two persons privy to the development said. With the new PLI edition ready to launch, the steel ministry proposes to write to the finance ministry asking for these unused funds, the people cited above said.

By Giuseppe Fonte and Giancarlo Navach

electric scooter manufacturer, Apollo Imports, has initiated a product recall due to safety concerns surrounding a potentially hazardous loosening bolt. The recall, prompted by the Consumer Product Safety Commission (CPSC), targets Apollo's Phantom Electric Scooters produced in China. The identified issue impacts the Phantom V1, V2, and 60V electric scooter models, which were available for purchase from June 2021 to May 2023.

According to data from Ad Astra Consultants, the Indian electric vehicle (EV) market is expected to reach $113.99 billion by 2029, from $1.45 billion in 2021, growing at a CAGR of 66.52% during the period. Nirupama VG, MD, Ad Astra Consultants, says the rapid shift has also brought to light skill gaps in the industry. A report commissioned by the Automotive Skills Development Council (ASDC) says as the industry innovates on autonomous driving, EVs and connected-car technologies, there is a need for skilling and reskilling to keep pace with the technological transformation. Nirupama VG also shares that while the government is proactively supporting the EV shift by offering consumer incentives like tax breaks and subsidies, the National Electric Mobility Mission Plan 2020 further emphasises this support with plans for building EV infrastructure and promoting manufacturing. Indian manufacturers are, therefore, leveraging local expertise, resources and market understanding to create products and solutions.

The IPO, which closes on September 6, comprises fresh equity of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. Under the OFS, promoter Vijay Ramanlal Sanghavi will sell 30.4 lakh shares. The company has fixed a price band of Rs 93-98 per share and at the upper end, it is planning to raise Rs 165 crore. About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors, and 35% for the retail category.

Arunachal Pradesh has banned the manufacture, sale, and use of glue boards for trapping rats and mice within the state, terming it illegal and a violation of the Prevention of Cruelty to Animals (PCA) Act of 1960. The ban was initiated in response to an appeal from People for the Ethical Treatment of Animals (PETA) India and was officially announced by Bidoi Tayeng, the state commissioner of animal husbandry, veterinary, and dairy development. According to the notification issued last week, glue traps, also known as glue boards or sticky traps, are used illegally to control the rodent population, including rats and mice. The notification emphasizes the cruelty associated with glue traps, explaining that small animals become ensnared by their feet or fur when attempting to cross them.

1) Company OverviewThe company is engaged in the business of manufacturing and supplying polypropylene woven fabric-laminated, polypropylene woven sacks, PP woven bags, PP woven bags with liners, printed laminates for flexible packaging, woven polymer-based products of different weights, sizes, and colors as per customer’s specifications.2) Industry OverviewIn India, packaging is the fifth largest sector in its economy and is one of the highest-growth sectors in the country. According to the Packaging Industry Association of India (PIAI), the sector is growing at a CAGR of 22% in the last few years.3) Issue sizeThe IPO is entirely a fresh equity issue of up to 7.2 lakh equity shares aggregating to Rs 5.76 crore.4) Price BandThe company will offer its shares at a price band of Rs 80 apiece, and investors can bid for 1,600 shares in one lot.5) Financial performanceFor the period ending December 2022, the company has recorded revenues of Rs 13.52 crore and net profit of Rs 57 lakh.6) Objects of the offerThe net proceeds from the public offer will be used to meet working capital requirements and other general corporate purposes.7) Lead managers and RegistrarHem Securities is acting as the lead manager to the issue, while Purva Sharegistry is the registrar.8) Issue StructureAbout 50% of the offer is reserved for retail investors, and the rest for other investors.9) Important DatesThe IPO opens on September 6 and closes on September 8.

In the current week, IPOs of three companies including Ratnaveer Precision Engineering, Jupiter Life Line Hospitals, and EMS Ltd, will open for subscription.Ratnaveer Precision Engineering IPO, which opens on September 4 and closes on September 6, comprises a fresh equity issue of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. The total mop-up through the issue will be Rs 165 crore. The company is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes, and tubes.

India manufacturing foray is being closely watched, India’s ambition to be on the global EV manufacturing map is palpable. While every state wants a piece of the EV pie, there is one that has had its eyes firmly set on the space for a while — Tamil Nadu. Being the home for several traditional auto manufacturing players and component manufacturers, Tamil Nadu is also the hotbed for innovation in the electronics space and boasts some of the biggest players in the ecosystem.

basic chemicals for the promotion of the overall chemical sector, Union minister Mansukh Mandaviya said here on Saturday. Mandaviya also said that his ministry has been working on an «international-standard» drugs and cosmetic bill which will be introduced in the Cabinet in a month's time before being passed in Parliament.

I cover education technology at The New York Times. And I've been thinking a lot about how artificial intelligence tools like ChatGPT, which can manufacture school essays and other texts, might reshape the college application process. I was particularly interested to learn whether admissions officials were rejiggering their essay questions — or even reconsidering personal essays altogether. Amid a deluge of high school transcripts and teacher recommendations, admissions officers often use students' writing samples to identify applicants with unique voices, experiences, ideas and potential. How might that change now that many students are using AI chatbots to brainstorm topics, generate rough drafts and hone their essays? To find out, I contacted admissions officials at more than a dozen large state universities, Ivy League schools and small private colleges, including Juan Espinoza, the director of undergraduate admissions at Virginia Tech.

Jyoti CNC Automation Ltd has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). The CNC machine manufacturer plans to raise ₹1,000 crore through its initial public offering (IPO). The company's maiden public issue is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the preliminary papers filed by the company.