Manufacturing Financial News

Boeing and the CSIRO say Australia could source as much as 60 per cent of its jet fuel requirements from sustainable sources in just 18 months – but only if airlines, jet fuel companies and plane manufacturers work with government to unlock supplies of feedstock.

Renewable energy firm Avaada Group is set to expand its workforce by nearly 3,000 employees in the next two years, Vineet Mittal, chairman and founder, Avaada said in an interview. At present, Avaada employs around 700 people. The expansion is aligned with its increasing activities in solar module manufacturing as well as green hydrogen operations.

NEW DELHI : Private companies will be a major partner in India’s future space missions, including those to Mars and Venus, and India is not behind any world power, including China, in technical capability although the country needs to build scale, NITI Aayog member and defence scientist V.K. Saraswat said in an interview.

₹45,000 crore to double its production capacity from the existing 2.25 million units to 4 million units in the next seven years, with a new one million-unit facility in Haryana’s Kharkhoda besides another one million unit plant at a new, undecided location. “The era ahead of us is going to be very uncertain and challenging. Putting up the 2 million cars will cost us close to ₹45,000 crore, depending on how inflation increases.

NEW DELHI : Cathay Pacific Airways Ltd is targeting air freight contracts from large multinationals such as Apple Inc. and Foxconn that are expanding manufacturing in India, a top official at the Hong Kong-based airline said. “We are already significant carriers for these companies through their forwarders out of the southern part of China.

NEW DELHI : The Sajjan Jindal-led JSW Group is in advanced talks to acquire the shuttered Chennai factory of Ford Motor Co. for its planned entry into electric-vehicle (EV) space, two people aware of the matter said. “Talks started a couple of months earlier and are in an advanced stage now, and the company is speaking to both the state government and Ford," one of the persons said on condition of anonymity.

MEXICO CITY (Reuters) — Mexico's economy grew 0.8% in the second quarter from the previous three-month period, national statistics agency INEGI said on Tuesday, slightly below its preliminary estimate and prompting analysts to warn of a slowdown.

IPO. The stock listed at a mild premium of 13% over the issue price. However, it came under selling pressure post the listing and was locked in a 5% lower circuit. On day one, the shares closed just 5.8% higher than the IPO price of Rs 166. Pyramid Technoplast is an industrial packaging company engaged in the business of manufacturing polymer-based molded products (polymer drums) mainly used by chemical, agrochemical, specialty chemical, and pharmaceutical companies for their packaging requirements. The company has a strong brand presence and a wide customer base, and it is also expanding its operations.

NEW DELHI : The National Pharmaceutical Pricing Authority (NPPA) has brought 44 new drugs under price control. These drugs are commonly used for pain management, depression, anxiety, gastro- related ailments, hypertension and several auto-immune diseases. The move is set to make these drugs cheaper.

NEW DELHI : The ministry of heavy industries (MHI) may combine the standards required for the FAME-II and production-linked incentive (PLI) scheme for advanced automotive technologies as it weighs the contours of the next phase of its plan to push manufacturing of hybrid and electric vehicles, a senior government official said on Tuesday. The move is seen as a way to streamline processes for auto and auto parts makers who currently have to obtain separate certifications from government-affiliated testing agencies in order to qualify for incentives under FAME-II and the PLI for auto, Kamran Rizvi, secretary, MHI said. The government schemes as they currently stand, including Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME), make for cumbersome form-filling for manufacturers.

Chemical and consumer product manufacturer 3M has agreed to pay $6 billion to settle numerous lawsuits from U.S. service members who say they experienced hearing loss or other serious injuries from using earplugs made by the company

Tata Motors and Mahindra and Mahindra have received domestic value certificates, a metric key to qualifying for payouts under the nation's production-linked incentive scheme, the government said on Tuesday. Launched in 2020, India's $24 billion production-linked incentive programme covers 14 sectors, ranging from electronic products to autos, and is crucial to boosting jobs in manufacturing, an area where India has struggled. Reuters reported this month that India's top bureaucrat reviewed the scheme, amid a push from industry for faster payouts. The Indian government said on Tuesday that applicants under the scheme for autos had invested 107.55 billion rupees ($1.30 billion) as of the end of June.

Heavy Industries, Mahendra Nath Pandey said, “Changes will be made to enable quarterly disbursal of fiscal incentives, addition of more testing agencies for faster clearances, and extending the PLI scheme benefits by a year after consultation with stakeholders.” He was speaking at review meeting under PLI Auto scheme which saw participation from industry representatives. ET had reported earlier this week that the PLI scheme may be extended by a year. These measures are likely to help in better implementation of the 25,938 crore PLI Scheme for Automobile and Auto Component Industry. Applicants under scheme had proposed investment of Rs 67,690 crore, of which Rs.10,755 crore has been invested till June-end this year, an official statement said. Also speaking at the event, Minister of State for Heavy Industry, Krishan Pal Gurjar said the auto industry contributes nearly 7% to the country’s gross domestic product (GDP).

PMRTS and CMRTS), which are used to operate walkie-talkies. In the discussion paper titled ‘Review of Terms and Conditions of PMRTS and CMRTS Licenses’, the Telecom Regulatory Authority of India (Trai) asked whether there is a need to review the terms and conditions of PMRTS License and PMRTS Authorization under Unified License and if PMRTS providers should be permitted internet connectivity on static internet protocol (IP) addresses. The authority also sought comments on whether it is possible to deliver the PMRTS/ CMRTS, which are mission critical in nature, using 4G/5G network slicing or any other technology. “If yes, in what manner should the delivery of PMRTS/ CMRTS using 4G/ 5G network slicing be enabled in the license? What should be safeguards to ensure that the quality-of-service for cellular networks is not adversely impacted?” Trai sought to know in the paper released Tuesday. The paper follows a June 2022 letter by the Department of Telecommunications (DoT) requesting recommendations on the terms and conditions for issue of fresh licenses for CMRTS and PMRTS Services especially with respect to technical conditions and financial aspects, the sector regulator said in a notification Tuesday. The deadline for written comments on the discussion paper is September 26, and for counter comments, it’s October 10. The sector regulator observed that telecom technology has grown significantly over the past few years and asked if PMRTS providers should be made to keep pace. “Whether there is a need to mandate PMRTS providers to migrate to spectrally efficient digital technologies in a time-bound manner,” Trai asked industry stakeholders to comment. It asked for comments on Trai’s existing recommendations on the method

₹225 crore through an initial public offering (IPO). RR Kabel is a part of the RR Global Group and has been in operation for over 20 years.

Theme: “Less Taken, More Given"At the heart of Henkel’s participation was their powerful theme, “Less Taken, More Given". This slogan encapsulates Henkel’s dedication to reducing their environmental footprint while maximizing positive contributions to society.

automobile and electronic companies said sales recovery of mass and entry-level products may get pushed by up to 3-4 months from the earlier expectation of a sales spike during the festive season due to scanty rainfall in August, reports of continued scarcity in September leading to a weak overall monsoon, and inflation remaining higher than what was initially expected. Companies reported sales during Onam — which heralds the festive season in India – was skewed towards premium and high-mid range with mass product sales failing to pick up. To be fair, most companies grew sales by up to 20% in this year Onam over last year, but sales of entry level products remained largely flat, industry executives said. Electronic company Haier India president Satish NS said the scarcity of rainfall will have an impact on rural economy with food inflation not coming down as expected.

Gokaldas Exports Ltd (GEL) on Tuesday jumped 20 per cent after the company said it has entered into an agreement through its wholly-owned subsidiaries to acquire Atraco Group for USD 55 million. The stock rallied 20 per cent to settle at Rs 736.30 — its 52-week high — on the BSE. On the NSE, it zoomed 20 per cent to end at its 52-week high of Rs 735.35 apiece. Headquartered in Dubai, apparel manufacturer Atraco operates with a network of four manufacturing units in Kenya and one in Ethiopia, GEL said in a statement. The equity value of the transaction is USD 55 million (around Rs 455 crore) and the same will be funded by a mix of debt and internal accruals, it said. The transaction will consist of the acquisition of shares and assets and will be subject to customary regulatory approvals.

Russia-Ukraine conflict has thrust the significance of drones into the global spotlight. Notably, the Ukrainian military has effectively harnessed low-cost drones to confront the formidable Russian military.

(Reuters) — Jif peanut butter maker J.M. Smucker on Tuesday raised its annual profit forecast on higher prices of its jams, jellies and pet food products as well as moderating costs of packaging and raw materials.