Manufacturing Financial News

Yoshimasa Hayashi, also deliberated on enhancing cooperation in defence equipment and technology. The discussions took place as part of a two-day visit by Hayashi to the Indian capital, AP reported.

₹3,231 crore ($394 million) from Barclays PLC and Deutsche Bank AG for securing working capital requirements, the company said in its stock exchange filing on Thursday. The raised capital will be used by the Adani New Industries Limited (ANIL) for its integrated solar module manufacturing facility.

Semicon India conference in Gandhinagar, Gujarat. The event is being held in an effort to attract investment into India's chip industry and establish the country as a semiconductor manufacturing hub to rival countries like Taiwan and China.

Smallcap firm Servotech Power Systems hit a 5% upper circuit at Rs 90.9 in Friday's trade on NSE on stock split and setting up a wholly-owned subsidiary — Techbec Green Energy. According to information available on NSE, the board earlier announced the sub-division (split) of equity shares in the ratio of 1:1. That means each share of the company with a face value of Rs 2 is split into two shares with a face value of Re 1 each.

Japan's central bank opted Friday to keep its benchmark interest rate at minus 0.1% but said it will fine-tune its bond purchases to allow greater flexibility given «high uncertainties» for the economy and for prices. The Bank of Japan said it needed a more nimble approach to keep financial markets stable as it works toward a goal of keeping inflation near 2%. It said it would offer to buy 10-year Japanese government bonds at 1% each business day, instead of the upper limit of 0.5% that was imposed under its «yield curve control program.» After the BOJ's announcement, the yield on the 10-year government bond surged to 0.57%.

Omicron winter wave to cause disruption—the Delta variant killed a lot in Aug-Oct 2021. Plus don’t risk Long Covid." Speaking on the effective SARS-CoV-2 virus concentration in the last six months.

₹1,972.00 apiece on the BSE. The Adani group cement manufacturing company ACC Ltd posted a net profit of ₹466.14 crore for the quarter ending June 2023, registering a growth of 105% as compared to ₹227.35 crore in the corresponding period of last year. The company’s consolidated revenue in Q1FY24 increased 16.4% to ₹5,201.11 crore from ₹4,468.39 crore, YoY.

Bloomberg News. With this, it becomes the latest in a series of alarming revelations about syrup medicines used by children around the world. According to Valisure LLC, an independent US laboratory, a bottle of Cold Out purchased at a pharmacy in Baghdad in March contains 2.1% ethylene glycol, about 21 times the widely accepted limit.

India and Japan explored collaborating in critical technologies, including semiconductors and resilient supply chains, as part of plans to reach a target of $35.9 billion Japanese investment in the country by 2027, officials said on Friday. Foreign Ministers of India and Japan, S. Jaishankar and Yoshimasa Hayashi, met in New Delhi on Thursday and also discussed ways to deepen defense equipment and technology cooperation.

Laurus Labs share price fell 3% in the trade on Friday after the company reported weak Q1 results impacted by lower sales, operational deleverage and elevated expenses. Laurus Labs shares fell as much as 2.99% to ₹333.50 apiece on the BSE. Laurus Labs Q1 net profit on a consolidated basis fell 88.8% to ₹28.40 crore from ₹252.5 crore in the year-ago period.

TSMC reaffirmed its investment commitment to Taiwan on Friday as the world's largest contract chip maker ramps up expansion abroad. Speaking at a ceremony to open a massive global research and development center in Taiwan's chip hub of Hsinchu, CEO C.C.

ITC: Cigarettes-to-hotel major ITC Ltd held its investor conference call on July 27, 2023. The chairman and managing director, Sanjiv Puri, explained the reason why the company chose to retain a 40% stake in the demerged ITC Hotels. Puri said, the demerged entity to have a 'royalty-like' arrangement for use of the other ITC brands and assets.

'Special Report' host Bret Baier takes a look at what a labor shortage could mean for future infrastructure and renewable energy projects.

Details of the meeting that took place on Thursday could not be ascertained. "Tesla executives have met Rai and there are a spate of meetings lined up with other officials over the next few days, including with Goyal," one of the people cited above said. ET had reported on July 25 that the company's top executives were expected to meet several officials and that this follows a virtual meeting between Goyal and Tesla CEO Elon Musk earlier this month.

Toyota, Japan’s most-valued company that has had a relatively circumspect local presence in comparison with compact-car leader Suzuki, is considering setting up an ancillary business in India, tapping into New Delhi’s emergence as a manufacturing hub as the world seeks to reduce a hitherto disproportionate China-centric supply reliance. «Toyota wants to bring their supply chain to India,» a person aware of the talks told ET. «That conversation is slowly opening up.

chipmaker Intel Corp., potentially enabling the country’s consumer electronics and technology manufacturing industry to replicate the success of its credentialed software sector — and create a ‘huge’ number of factory jobs in the process. The California, US-based company is looking at India as a top manufacturing base for supplying to three buckets of hardware products–laptops, data centres and servers — and electronics connected to internet of things (IoT) such as vending machines and cameras, said Santhosh Viswanathan, MD and vice president, sales, marketing and communication group, at the company’s India arm. “Electronics manufacturing creates thousands of jobs.

trade deal signed under the UPA era is one of the most ill-conceived deals, commerce minister Piyush Goyal said on Thursday at an industry event. In FY23 alone, the trade gap ballooned by 70% to reach $43 billion. India mostly imports capital goods, raw materials and intermediates from Asean, the tariff concessions under the free trade agreements (FTAs) have also been advantageous to many sectors and adversely impacted domestic companies, especially chemicals and metals manufacturers.

Federal officials are considering a crackdown on defective lithium-ion batteries that power hoverboards, scooters and motorized bicycles because of a rash of deadly fires caused by exploding batteries

French magistrates are investigating a leading chip supplier whose advanced technology with possible military uses was reportedly smuggled to China and Russia, allegedly skirting sanctions and export controls

Nirmala Sitharaman Thursday said the government is considering a production-linked incentive (PLI) scheme for the chemicals and petrochemicals sector to promote manufacturing and to reduce import dependency. “We are in favour of having India becoming a manufacturing hub and therefore of course we will consider the PLI also for the chemicals and petrochemicals,” Sitharaman said at the 'Global Chemicals and Petrochemicals Manufacturing Hubs in India' summit, organised by Federation of Indian Chambers of Commerce & Industry's (Ficci). She said global manufacturers in the chemical industry are looking to diversify their production capabilities and India stands out as an alternative destination for manufacturing. The minister said the government is focussed on green growth and industry should keep in view energy efficiency and renewable energy commitments of India and the Hydrogen Mission. “We should remember that India has set its sights on becoming energy independent by 2047 and achieving net zero by 2070. So net zero cannot be achieved unless each industry and each sector contributes to it. “We are very focused on green growth. Carbon intensity has to be reduced and therefore each one of the sectors will have to contribute to this,” she said. The government has approved a Rs 19,744-crore incentive plan to promote the manufacturing of green hydrogen in the country in a bid to cut emissions. The National Green Hydrogen Mission seeks to promote development of green hydrogen production capacity of at least 5 million metric tonnes per annum and renewable energy capacity addition of about 125 GW in the country by 2030.

NEW DELHI : India has unfairly withheld from South Korean companies the incentives they were promised under the government’s production-linked incentive (PLI) schemes, the New Delhi chief of a top Korean trade body said. Arbitrary policy changes are a key concern for Korean companies investing in India, Lee Young-Ho, chief trade representative at the New Delhi office of the Korea International Trade Association (KITA), said in an interview. This is the first time that a Korean trade body has remarked on the challenges related to the PLI scheme.