Manufacturing Financial News

The landscape of Greater Noida West or Noida Extension has undergone a remarkable transformation, evolving into a thriving hub of urbanization and infrastructural growth, according to the latest findings by Geetanjali Homesate. This development surge has paved the way for a burgeoning commercial real estate sector, making it an enticing prospect for investors.

In this video, we explore the debate surrounding t... moreIn this video, we explore the debate surrounding the environmental impact of hybrid electric vehicles (HEVs) versus battery electric vehicles (BEVs).

historic day for India. The country’s Chandrayaan-3 landed on the lunar south pole. We say this is a historic day for a few reasons.

In the international markets, Spot gold rose 0.3% to $1,920.60 per ounce after hitting its highest level since August 10. US gold futures were flat at $1,948.70. However, the October gold futures were trading at Rs 58,790 per 10 grams on the MCX at 10.26 a.m.

Torrent Pharmaceuticals on Thursday said that the US Food and Drug Administration (US FDA) has issued an Establishment Inspection Report (“EIR”) for the company's manufacturing facility at Dahej, Gujarat.EIR means closure of inspection. It said that inspection has now been successfully closed by the US FDA. Earlier in March 2019, the Dahej facility was placed under Official Action Indicated (OAI) by the US FDA. The drug regulator had conducted re-inspection of the site in May this year from 17-25-May and issued Form 483 with 2 observations, the company said in a statement.

Talk about the butterfly effect — an earthquake off the coast of Japan set the stage for a semiconductor manufacturing company to emerge in India.The March 11, 2011, quake centred 130 km off the city of Sendai, on the east coast of Japan, was so powerful that scientists say it accelerated Earth's spin, shortening the length of the day by 1.8 microseconds. The tsunami it set off killed more than 18,000 and wiped out towns.

macroeconomic events influencing the secondary markets, the primary market seems to be still witnessing some excellent listings, subscription status in both main board and SME IPOs. Investors and traders are paying close attention to the primary markets as well apart global events such as Jackson Hole Economic Symposium on Friday, which would provide clues about the future path of interest rates. There are two mainboard issues this week, Vishnu Prakash IPO, which will open for subscription today, and the Aeroflex Industries IPO, which started for subscription on Tuesday, August 22.

₹351 crore worth Aeroflex Industries IPO comprises a fresh issue of equity shares up to ₹162 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by the promoters selling shareholders and promoter group. Aeroflex Industries IPO price band has been fixed at ₹102 to ₹108 per equity share. Bids can be made for a minimum of 130 equity shares and in multiples of 130 equity shares thereafter.

Megaport chairman Bevan Slattery has given the green light to start construction on an undersea connection from Sydney to Perth, signing with Alcatel Submarine Networks to build the 5000 kilometre cable.

India becoming the first country to soft land on the south pole of the moon on Wednesday, Indian space policy advocacy groups, industry associations and private companies said it will trigger commercial opportunities for both Indian Space Research Organisation (Isro) and private players involved in the successful mission. It will also increase bilateral collaborations for India in the sector, experts added. «The Chandrayaan-3 mission had participation of over 400 companies from both public and private sectors. This will help Isro to do more global and commercial projects and this accomplishment will also help the private players like Anant Technologies and Walchand Industries to take part in international requirements,» said Anil Prakash, director general of Satcom Industry Association (SIA-India).

Proxy advisory Morrow Sodali is eyeing a potential tie-up with Alliance Advisors, a move designed to beef up the business ahead of a possible Wall Street initial public offering.

Shares of companies that supply equipment and components to the space sector rallied up to 15% on Wednesday ahead of Chandrayaan-3 spacecraft’s landing on the moon. These companies added almost Rs 13,000 crore in market value on Wednesday. After trading hours on Wednesday in Mumbai, India made history becoming the first country to land on the South Pole of the lunar surface. Shares of Centum Electronics, which provides systems to the Indian Space Research Organisation (ISRO), rallied 14% on Wednesday. Godrej Industries surged 7% as its arm Godrej Aerospace supplies components to ISRO.

Nagarjuna Fertilizers and Chemicals has sought shareholders' approval to sell its urea manufacturing plant and micro irrigation business to a Greenko-linked entity in a slump sale for ₹1,700 crore. The proceeds will be used to settle loans of its new lender, Assets Care and Reconstruction Enterprises (ACRE), an asset reconstruction company. SSG-Ares backed ACRE acquired Nagarjuna Fertilizers' entire ₹1,500 crore debt from banks by paying ₹811 crore, as reported by ET on March 29. Nagarjuna Fertilizers entered into an agreement with ACRE to settle its ₹1,500 crore debt, which it will pay from proceeds of slump sale, according to the disclosures made by the company in its annual report released on August 22. In effect, ACRE paid ₹811 crore to banks in March and is set to recover ₹1,500 crore from Nagarjuna.

China's economic challenges have given rise to deflationary pressures that present a global concern and are likely to accelerate in the coming quarters, according to economists.

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Wesfarmers has singled out Woodside Energy in an escalating row over domestic gas supply in Western Australia, warning the situation in the state is putting investment in critical minerals processing at risk.

Thomson is planning to enter the laptop market in India, with the company close to finalising a Noida-based contract manufacturer to make the devices locally, said a senior executive. “Thomson will be coming in a big manner in the laptop category. This decision has been made to counter laptop brands which have come in smart TVs.

foldable smartphones registered 150,000-plus pre-orders. “This gave us almost ₹1,500 crore with pre-booking of our latest foldable smartphones…this meant a growth of 1.5x in the number of units we sold in pre-booking this year, over last year’s foldable phone sales," Pullan added. The year 2023 is also the first time when both of Samsung’s most recent generation foldable smartphones were manufactured at the company’s Noida assembly plant.

Tata Motors on alleged abuse of dominant position with respect to agreements with its authorised dealers. For the case, the market for the manufacture and sale of commercial vehicles in India was considered as the relevant one. The complaint was filed against Tata Motors, Tata Capital Financial Services and Tata Motors Finance. In May 2021, the regulator ordered the Director General (DG) to carry out a detailed probe into the allegations.

The goods and services tax (GST) was a major reform that took years to implement. It is now six years old. The great promise of GST is tax collection buoyancy, thanks to inbuilt incentives of compliance, and less scope of leakage.

Competition Commission of India has slapped penalties totalling Rs 55 lakh on Abu Dhabi Investment Authority (ADIA) and TPG Group for making false declarations before the regulator while availing the green channel facility in a deal related to the acquisition of a stake in UPL Sustainable Agri Solutions Ltd (UPL SAS). The acquirers, ADIA and TPG Group, shall pay the penalty jointly and severally, the CCI order said. The transaction pertains to the combination comprising the acquisition of a stake in UPL SAS by Platinum Trust and TPG Upswing through the Upswing Trust, the CCI said in the order. Abu Dhabi Investment Authority is the sole beneficiary and settlor of the Platinum Trust, while TPG Upswing is a part of the TPG Group. In December 2022, the Competition Commission of India (CCI) received a notice jointly given by Platinum Trust, acting through Platinum Trustee, and TPG Upswing in relation to the combination.