Manufacturing Financial News

Deven Choksey, MD, KRChoksey Holdings Pvt. Ltd, says for Maruti, the “overall profitability is going to come from the bigger vehicles which they are selling now. So a game-changer kind of a proposition is emerging for this company.

Homegrown self-tanner and skincare brand Bondi Sands has been offloaded to Japan’s chemical and beauty giant Kao Corporation in a cash deal estimated to be worth $450 million.

H2X Global, an Australian hydrogen fuel cell-powered vehicle company, will receive up to $86 million in capital over the next two years from Nebraska-based Verde Mobility as it targets commercial production by 2025.

Europe's economy has grown modestly after months of stagnation, but higher interest rates designed to fight inflation are casting a shadow as they make it more expensive for households and businesses to borrow, invest and spend. The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, compared with the first three months of the year, the EU statistics agency Eurostat reported Monday. That's an improvement over zero growth in the first quarter and a slight decline in fourth quarter of last year — but not by much.

These moments, which might seem unrelated, represent a transformation in world trade. US-China tensions and Russia’s invasion of Ukraine are leading companies to bring supply chains closer to home. A shift from fossil fuels is spurring demand for materials essential for electrification.

China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard «national security and interests» amid escalating tension with the United States over access to technology. The restrictions on equipment, including some drone engines, lasers, communication equipment and anti-drone systems, will take effect on Sept. 1, the commerce ministry said.

Reliance Industries and Brookfield Asset Management have entered into an initial agreement with the aim of exploring opportunities for manufacturing renewable energy and decarbonization equipment within Australia. The Memorandum of Understanding (MoU) seeks to accelerate as well as de-risk Australia's energy transition by enabling local production of clean energy equipment, including PV modules, long duration battery storage, and wind energy components, the Indian conglomerate said in a press statement.

CapitaLand is looking to enter real estate funding and scale the renewable energy segment as it continues to expand its portfolio of office and industrial parks, Sanjeev Dasgupta, CEO, CapitaLand Investment India and CapitaLand India Trust, told ET. The company currently has about 22 million square feet of business parks and about 7.5 million square feet of industrial parks. It plans to scale up the portfolio to 50 million square feet in the next three years.

Paytm brand, wants the government to bring payment segment devices under the production-linked incentive scheme to boost local production, a top company official said on Monday. Paytm founder and CEO Vijay Shekhar Sharma said the company has started manufacturing soundbox devices in India even though local production attracts higher taxes compared to imported ones. While announcing the launch of two new models of payment soundboxes, Sharma said that India is a services-dominated country and there is a need to go towards manufacturing for job creation.

Reliance Industries Ltd (RIL) has signed a Memorandum of Understanding (,OU) with Brookfield for onshore renewable power and decarbonization equipment manufacturing in Australia. (This is a developing story)

Foxconn Technology Group, the main supplier for Apple, has plans to invest nearly ( ₹4,100 crore) $500 million in the construction of two component factories in India, according to a report by Bloomberg News on July 31. The chosen location for these factories will be in the southern state of Karnataka. It is anticipated that at least one of these facilities will be dedicated to manufacturing Apple components, including those used in iPhones.

₹701.17 crore on Monday, while DIIs bought securities for a net total of ₹2,488.07 crore.Auto shares will be under lens today as companies will declare their monthly sales figures, Market participants will also be closely observing the upcoming release of the US manufacturing Purchasing Manager's Index (PMI) data, US services PMI data as well as US non-farm payrolls scheduled between August 1 and August 4.Wall Street and global stocks edged up on Monday as traders looked ahead to corporate earnings and a key employment report due this week.The central government has more than doubled the windfall profit tax on the production of crude oil with effect from 1 August, showed an official order.The tax, levied in the form of special additional excise duty has been raised from Rs. 1600 a tonne to Rs.

Maruti Suzuki: Maruti Suzuki India, the largest passenger car manufacturer in the country, reported a standalone net profit of ₹2,485.1 crore in the quarter ended June 2023. The company’s net profit jumped by a robust 145% as compared to ₹1,012.8 crore in the same quarter last year. This was on account of larger sales volume, improved realization, cost reduction efforts and higher non-operating income.

The 2024 hopeful's remarks will spotlight the unveiling of «Declaration of Economic Independence.»

Sebi), aimed at improving corporate governance and investor protection have led to an increased compliance burden and associated costs for listed companies, according to India Inc. Companies are struggling to prepare themselves for the new regulations, some of which are in place while others will take effect in the next few months, executives said. The new rules include confirmation or denial of market rumours, disclosing business contracts to family settlements, matters concerning senior employees, new environmental, social and governance regulations, communicating actions taken by any authorities, the companies say.

Lynas has hadits US government funding more than doubled as the Biden administration accelerates its mission to secure supplies of rare earths.

Foxconn may invest up to $500 million to set up a new unit near the Kempe Gowda international airport in Bengaluru to make smartphone accessories, multiple sources aware of the development told ET. The investment is likely to be done by Foxconn Industrial Internet (FII), a subsidiary of Foxconn. Earlier in the day, Foxconn Industrial Internet (FII), a subsidiary of Foxconn signed a memorandum of understanding with Guidance Tamil Nadu to establish a new manufacturing facility in Kancheepuram district for electronics components.

China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard "national security and interests" amid escalating tension with the United States over access to technology. The restrictions on equipment, including some drone engines, lasers, communication equipment and anti-drone systems, will take effect on Sept. 1, the commerce ministry said.

NEW DELHI : Maruti Suzuki India Ltd (MSIL) on Monday said it has decided to buy out its contract manufacturing partner Suzuki Motor Gujarat (SMG) from parent Suzuki Motor Corp. (SMC) at a potential book value of ₹12,755 crore. India’s largest carmaker aims to complete the transaction by 31 March 2024, R.C.

NEW DELHI : NXP Semiconductors, founded as a division of Royal Philips NV, is open to setting up a fabrication unit in India, subject to the development of a suitable ecosystem in the country, said Hitesh Garg, vice-president and India country manager. “If there is an ecosystem developed here, we will support the ecosystem. We will make sure that we are doing the manufacturing of our chips which are possible to be done here in India," Garg said, reiterating views expressed by NXP chief executive officer Kurt Sievers, who was in India earlier this year and met Prime Minister Narendra Modi.

New Delhi: The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has dismissed a plea by Independent Sugar Corp. Ltd (INSCO) challenging the Competition Commission of India (CCI)’s approval to AGI Greenpac’s acquisition of Hindustan National Glass, India’s oldest glass manufacturer. On 15 March, the competition regulator had approved the acquisition of HNG by AGI Greenpac.