Manufacturing Financial News

NEW DELHI : Embraer Defense & Security is in talks with five Indian entities, including Hindustan Aeronautics Ltd (HAL) and Tata group, to manufacture defence transport aircraft in India, a top executive at the Brazilian plane maker said. The company hopes to finalize and announce its partner by the end of this year. “It is important to say we are watching a lot what those big players are doing here in India; we are learning from them; and we are in touch with them as well.

Nvidia artificial intelligence chip exports to certain countries in the Middle East, the company said in a regulatory filing this week. «During the second quarter of fiscal year 2024, the USG (US government) informed us of an additional licensing requirement for a subset of A100 and H100 products destined to certain customers and other regions, including some countries in the Middle East,» Nvidia said in the filing. One year ago Nvidia said US officials told it to stop exporting the same two computing chips for AI work to China. The move was seen as potentially slowing Chinese firms' ability to carry out advanced work like image recognition. The announcement also signaled at that time a major escalation of the US crackdown on China's technological capabilities as tensions bubble over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured. The securities filing, posted Aug.

NEW DELHI : As India’s annual festive season takes off with the 10-day Onam festival, hopes are high at the country’s automobile manufacturers, at a time of rising rural sentiments and fading supply chain woes. Sales of both passenger vehicles (PVs) and two-wheelers are expected to be significantly higher this year, according to industry executives. The festive season traditionally begins with the Chingam, the beginning of the Malayalam new year.

Low-price, easy-to-use Chromebooks were once a boon to cost-conscious schools. Educators say the simple laptops are no longer a good deal. Models have shot up in price in the past four years.

NEW DELHI : The finance ministry is considering introducing a production linked incentive (PLI) scheme for the chemicals sector, but there aren’t any proposals yet for such a scheme for the petrochemical industry, two senior officials told Mint. A PLI scheme for the chemicals sector is currently being considered by the finance ministry, but it hasn’t been approved yet, said the first person mentioned above, who spoke under the condition of anonymity. Since funds for PLI schemes are limited, the government can make funds available only to sectors that really need such schemes, the person said. Allocating funds to specific sectors for the scheme is decided by the Niti Aayog, the person added.

Apple Inc. is testing the use of 3D printers to produce the steel chassis used by some of its upcoming smartwatches, according to people with knowledge of the matter, heralding a major change to how the company manufactures products. The technique would obviate the need to cut large slabs of metal into the product’s shape.

Stocks that are trading heavily or have substantial price changes on Wednesday: Vera Bradley, Conn’s rise; HP, Ambarella fall

By Clare Jim

₹93 to ₹98 per equity share of face value of ₹10 each. Ratnaveer IPO lot size is 150 equity shares and in multiples of 150 equity shares thereafter. Ratnaveer Precision Engineering IPO cap price shall be at least 105% of the floor price and shall not exceed 120% of the floor price, and the floor price is to be determined and justified by the company and the promoter selling shareholder in consultation with the Book Running Lead Manager (BRLM), the company said in its Red Herring Prospectus (RHP).

₹26 to ₹28 per equity share and the Mono Pharmacare shares will get listed on Thursday, September 7 on NSE SME. Bids can be made for a minimum of 4,000 equity shares and in multiples of 4,000 equity shares thereafter. Mono Pharmacare Limited IPO cap price shall be at least 105% of the floor price, according to Red herring prospectus (RHP).

3M, a multinational conglomerate, has agreed to a substantial settlement amount of over $6 billion in a class-action lawsuit involving faulty earplugs. The lawsuit alleged that the company's Dual-Ended Combat Arms Earplugs, CAEv.2, manufactured between 2003 and 2015, led to hearing loss, tinnitus, and other hearing-related injuries among consumers and military members. This decision comes as a significant milestone in a legal battle that centered on claims of inadequate earplug design.

₹70 per share. This indicates CPS Shapers share price were trading at a premium of ₹70 in the grey market today, according to topsharebrokers.com. Considering the IPO price band and the current premium in the grey market, the estimated listing price of CPS Shapers share is ₹255 apiece, which is 37.84% higher than the IPO price.

offer for sale of up to 2,21,10,955 equity shares (Face Value of ₹ 2) by Promoter selling shareholder and other selling shareholder (“Offer for sale")," the company said in a statement. The OFS will constitute up to 10.44 million shares by Siddharth Jain, up to 5 million shares each by Pavan Kumar Jain and Nayantara Jain, up to 1.2 million shares by Ishita Jain and 2.3 lakh shares by Manju Jain.

U.S. officials say the FBI and its partners in Europe infiltrated and seized control of a major malware network that was used for more than 15 years to commit a gamut of online crimes including crippling ransomware attacks

The Biden administration is proposing a new rule that would make 3.6 million more U.S. workers eligible for overtime pay, reviving an Obama-era policy effort that was ultimately scuttled in court

railway stockshave been on the radar of investors. And for good reason. The government is planning to introduce aproduction-linked incentive (PLI) scheme for train component makersas part of its efforts to attract foreign manufacturing firms and reduce dependence on import.

₹358 crore. Shakti Pumps share price opened at intraday low of ₹717.50 apiece on BSE, Shakti Pumps stock price hit an intraday high of ₹861.90. According to the company's exchange filing, the Haryana Renewable Energy Department (HAREDA) awarded Shakti Pumps its first work order under the KUSUM-3 scheme for 7,781 pumps.

The substantial impact of achieving financial independence on personal economic well-being is exerting a profound influence on India’s economy. As a rapidly developing nation with a burgeoning middle class, nurturing financial independence among its citizens is anticipated to play a pivotal role in fostering sustainable economic progress.

By 2047, India’s real estate sector is estimated to expand to $5.8 tn, contributing 15.5% to the total economic output, while the residential market has a potential to generate an output equivalent of $3.5 trn in 2047, according to the Knight Frank-NAREDCO India Real Estate-Vision 2047 report released recently.

Titagarh Rail Systems Ltd (TRL) formerly Titagarh Wagons on Wednesday said it has received a letter of acceptance for a Rs 350-crore contract from Gujarat Metro Rail Corporation (GMRC) for the design, manufacture, supply, testing, commissioning and training of 30 standard gauge cars. The standard gauge cars are for Ahmedabad Metro Rail Phase-II project, an official said. «The prototype Metro car has to be built in 70 weeks and the entire contract has to be delivered in 94 weeks.

₹1 lakh per candy in May 2022. However, they have since retreated to approximately ₹55,000, aligning more closely with international prices. This correction has significantly bolstered India's competitiveness in the global market.