Manufacturing Financial News

New Delhi: India is on track to achieve a $150 billion bio-economy by 2025, up from over $100 billion in 2022, Union minister Jitendra Singh announced on Tuesday. Highlighting the significance of the nation's growing biotech sector, Singh noted India's position as 12th in the global biotech industry and third in the Asia-Pacific region.

The Abhay Narendra Lodha Foundation was established on January 18, 2010, and is a non-profit charitable organization. It was founded by Abhay Lodha, Chairman, Topworth Group, which is primarily in the business of manufacturing steel and iron products. As part of the Foundation’s Environmental, Social, and Governance (ESG) role, the Foundation has undertaken a number of environmental initiatives.

Iran's Defence Ministry unveiled a drone on Tuesday resembling America's armed MQ-9 Reaper, claiming that the aircraft is capable of staying airborne for 24 hours and has the range to reach the country's archenemy Israel. Iran's state-run IRNA news agency published a photograph of the drone, called the Mohajer-10, on display at a conference marking Defence Industry Day with what appeared to be smoke-machine fog underneath it. «Mohajer» means «immigrant» in Farsi and has been a drone line manufactured by the Islamic Republic since 1985. IRNA said the drone is able to fly up to 24,000 feet with a speed of 210 kph (130 mph), carrying a bomb payload of up to 300 kilograms (660 pounds).

Bharat Heavy Electricals Ltd (BHEL) share price jumped nearly 12% to touch a new 52-week high on Tuesday's trading session after the company bagged order worth ₹4,000 crore from Mahan Energen Ltd, a wholly owned subsidiary of Adani Power Ltd. Bharat Heavy Electricals share price closed 9.76% higher at ₹110.80 apiece on NSE. According to company's exchange filing, Mahan Energen Ltd was formerly known as Essar Power MP Ltd.

Hartek Solar, which has recently been named among the top 3 rooftop solar installers in India by Mercom in CY 2022, is betting on floating solar. While talking to ET.com's Anil Satapathy, Simarpreet Singh, Executive Director, Hartek Group, said that floating solar power could be a game changer in the future. Simarpreet also talked about the company's hydrogen plans, PLI scheme, and other aspects of India's renewable industry.

Max Healthcare Institute, Cholamandalam Investment and Finance Company, Bajaj Finserv, and Siemens showcased their strength and growth potential in various sectors. Let's explore the performance of these stocks. (Data Source: StockEdge)1. Max Healthcare InstituteMax Healthcare Institute showcased impressive growth by surpassing its 100-day SMA and closing at Rs 551 on August 21.2. Cholamandalam Investment and FinanceCholamandalam Investment and Finance marked a significant achievement by exceeding its 100-day SMA and closing at Rs 1044.85 on August 21.

Union Minister Nitin Gadkari while speaking at the launch of Bharat NCAP said, “Today, we have report which is given to me that request to test and certify more than 30 models of different companies under Bharat NCAP has already been received. I am really happy with the response." Bharat NCAP is a significant step forward in the Government’s commitment to improve road safety through raising the safety standards of motor vehicles up to 3.5 tonnes in India, the Ministry of Road Transport and Highways said in an official statement.

BHP boss Mike Henry says Australia will need to be “hyper productive” to compete in future facing metals like copper and nickel, as he invests more in domestic processing and smelting at the heart of BHP’s plan to unlock value from its $9.6 billion consolidation of South Australia’s copper fields.

According to market sources, the company's shares are commanding a premium of Rs 22 in the unlisted market. Most analysts advised investors to subscribe to the issue given the company's diversified customer base along with the comprehensive product portfolio. 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 IPO comprises a fresh issue of 55 lakh shares and an offer for sale of 37.2 lakh shares.

Devbhumi Dwarka police have dismantled a factory located in Punjab that was producing alcoholic ayurvedic syrup exclusively intended for the Gujarat market. As per a TOI report, the factory had already shipped approximately two lakh bottles of this syrup to Gujarat in last one year. During the police operation, a substantial amount of raw material, sufficient to produce an additional two lakh bottles of the syrup, was seized from the factory.

China's economy is facing challenges due to author... moreChina's economy is facing challenges due to authoritarian policies, lockdowns, and economic shifts.

Rahul Singh, CIO-Equities, Tata Mutual Fund, in an interview with Mint. He added that slower urban consumption contrasts rural recovery. He also shared his views on rate cuts by the RBI and the IT sector.

retail, telecom, among others, strengthened their hiring drives to meet the increase in consumer demand during the upcoming festive season, according to the latest data from leading business services provider Quess. About 32,000 jobs were posted in this period considering the BFSI, retail, and telecom sectors, the data showed. Job roles such as production trainee, branch relationship executive, collection officer, business development executive, broadband sales executive, sales executive, warehouse associate, and customer relationship officer have seen an increase in demand this season. “Despite inflation and profitability pressures, segments such as manufacturing, BFSI, and retail have reflected remarkable growth,” said Lohit Bhatia, President- Workforce Management, Quess. “As many as 32,000 jobs were posted in this period, and we expect this trend to magnify each month by at least 5,000 as we inch closer to peak festivities, especially across industries impacted by direct consumers such as e-commerce, logistics and automobiles,” he added. The manufacturing & industrial segment has noted a 245% growth in demand for professionals over the period April-Aug 2023 (as compared to April-Aug 2022). The automobile manufacturing sector is witnessing an uptick in recruitment, especially in the context of EV manufacturing to meet the consumer demand expected due to the Diwali festivities. The BFSI industry noted a 27% increase in demand for manpower ahead of the festivities, followed by telecom (14%). Telecom has undergone massive digitization efforts with the launch of 5G which has led to considerable job creation in the industry.

Rakesh Sharma, Executive Director, Bajaj Auto, says “the export opportunity is just unfolding. We are far from seeing it getting exhausted. The scope for two-wheelers in parts of Latin America and Africa is enormous. But participating in international business is not for the faint hearted. It is not for the trader. This is for the manufacturer. This is for people who have a genuine commitment to global play. That is what Bajaj is all about. I would say the emerging markets story is far from exhausted. It holds a lot of potential still, and we are very optimistic about it. But we do not think it is going to play out very rapidly.”We have always looked at Pune as the go-to city as a manufacturing space, especially for auto. What is so special about Pune that makes it perhaps the Detroit of India?Pune is quite a delightful city.

In a bid to enhance road safety, the Ministry of Road Transport and Highways in India has introduced a game-changing initiative – the Bharat New Car Assessment Programme (Bharat NCAP). This program is all about evaluating the safety performance of passenger vehicles designed to carry up to eight passengers and not exceed a weight limit of 3.5 tonnes.

inflation on an annual basis, Indians are still not opting for high-priced large consumer product packs, a TOI report showed on Tuesday. Citing research from retail intelligence platform Bizom, the report said that the sales growth in high-value packs across FMCG categories shrank in July over the previous year. Low-and-mid-priced packs still figured among the preferred alternatives for most Indians as prices of large packs remain higher than expected. «When the price of a pack rises above a certain psychological threshold — say a Rs 100 pack becomes Rs 110 — then it's difficult to get consumers to purchase these packs. Moreover, e-commerce and quick commerce, where consumers make impulse purchases of small-and-mid-priced packs, continues to grow faster than modern trade where high-value packs are usually bought,» said Mayank Shah, senior category head at Parle Products. He added that consumers are okay with grammage reductions because extra money does not go out of their pockets.

₹900 crore from the primary market and has filed preliminary papers for its maiden public issue. The Vadodara-based Shiva Pharmachem has filed its Draft Red Herring prospectus (DRHP) with capital market regulator Securities & Exchange Board of India (SEBI) for an initial public offering (IPO). Shiva Pharmachem IPO is entirely an offer for sale (OFS) of up to ₹900 crore by the promoter and promoter group shareholders.

textile sector which has conventionally served as the bedrock for most of its industrial labour is staring at a gloomy future. Once a thriving sector of Pakistan's economy, the industry now struggles with low exports amid a deepening crisis. The past two years have seen the country’s finances struggling including forex reserves, inflation, debt to GDP ratio, fiscal and current account deficit.

Pyramid Tecnoplast IPO: The initial public offering (IPO) of Pyramid Tecnoplast Ltd opened for subscribers on 18th August 2023 and it will remain open for bidders till 22nd August 20223. This means, investors have just one day in hand to apply for the public issue as bidding for the issue will end on Tuesday evening i.e. today.

Union Minister Nitin Gadkari is all set to launch the Bharat New Car Assessment Programme today at New Delhi. The intiative aims to highlight the government's commitment towards improving road safety by increasing the awareness around safety standards of motor vehicles of up to 3.5 tonnes.

EcoSoul Home aims to accelerate the movement towards a sustainable lifestyle by tapping Earth’s most renewable sources. With a diverse range of products in kitchenware, dinnerware and cutlery, the brand claims to drive the 3As of sustainability — awareness, availability and affordability.