Manufacturing Financial News

27.07 / 17:13

Manufacturing Action Mobile show country recovery Govt weighs legal action, recovery procedure against FAME defaulters

₹469 crore, Union government is unlikely to relent and plans to take them to court if the penalties are not paid in next few days. Seven companies—Hero Electric, Okinawa Autotech, Ampere EV, Revolt Motors, Benling India, Amo Mobility and Lohia Auto—have been found guilty of wrongfully claiming subsidies under the FAME II scheme, after assembling vehicles in the country with imported products. Under the scheme, companies manufacturing their product completely in India are eligible for government support.

27.07 / 17:13

Manufacturing Enterprise Adani Enterprises arm raises USD 394 million from Barclays, Deutsche Bank

Barclays PLC and Deutsche Bank AG. The proceeds will be used to secure working capital requirements of its integrated solar module manufacturing facility, Adani Enterprises Ltd said in a regulatory statement on Thursday.

27.07 / 16:41

COST Target Digital Progressive Manufacturing Govt may offer PLI for chemicals, petrochem

NEW DELHI : The government will consider a production-linked incentive (PLI) scheme for the chemicals and petrochemicals sector as it strives to emerge as a manufacturing hub, Union finance minister Nirmala Sitharaman said on Thursday. “We are in favour of making India a manufacturing hub," Sitharaman said at the third edition of the Global Chemicals and Petrochemicals Manufacturing Hubs in India Summit organized by the Federation of Indian Chambers of Commerce and Industry (Ficci) in association with the ministry of chemicals and fertilizers . “We will be considering PLI for chemicals and petrochemicals," said the finance minister.

27.07 / 16:41

Target Progressive Manufacturing guidance Strong June qtr, higher margin guidance cheer Cipla’s investors

₹6,329 crore, driven by India and US markets owing to better market conditions and product mix. To be sure, significant near-term upsides may be capped after the stock gained 23% in the past year.

27.07 / 16:41

UPS Booking Aware Manufacturing Strategy Nestle LIC clocks record share sales in Q1

₹25,900 crore. According to a research by Mint based on regulatory filings of 300 companies, in April-June, LIC sold shares in at least 87 leading Indian companies worth ₹25,900 crore—the highest ever for LIC in the first quarter of a financial year.

27.07 / 16:33

Manufacturing Platform Apple Audi Mattel show star Blockbuster investing: When to buy stocks related to movie brands

Betting on potential returns from blockbuster movies is something of a niche investment but it can pay off if timed correctly.

27.07 / 15:31

Reuters Booking Manufacturing Tesla Celebrity show Tesla suppressed thousands of range complaints using secret 'diversion team'

Reuters released a special report Thursday detailing an investigation into claims that Tesla (NASDAQ:TSLA) manipulated the dashboard displays in its electric vehicles to artificially enhance driving range projections. The report further explains the existence of a «Diversion Team» within the company to cancel range-related service appointments, leading to customer dissatisfaction and range anxiety.

27.07 / 15:21

Provident Lowe's Digital Manufacturing Bitcoin country Why El Salvador: The Rising Crypto Hub for New Investors

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

27.07 / 14:41

UPS Booking Waters Manufacturing Battlefield electronic Bharat Electronics Q1 net profit up 23% at ₹530.84 crore

Bharat Electronics Ltd (BEL) on Thursday said its net profit rose 23% year-on-year at ₹530.84 crore for the first quarter ended June 30 of fiscal year 2024. Its profit after tax stood at ₹431.49 crore in the corresponding period last year.

27.07 / 14:21

UPS FIVE Manufacturing JK Lakshmi Cement Q1 Results: Net profit drops 30% to ₹79 cr, revenue up 5%; board approves fundraising via NCDs

JK Lakshmi Cement Q1 Results: JK Lakshmi Cement announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 27, reporting a decline of 30 per cent in consolidated net profit at ₹79.7 crore, compared to ₹115 crore in the corresponding period last year. The cement manufacturer's revenue from operations in the first quarter of current fiscal stood at ₹1,730.25, registering a growth of around five per cent, compared to ₹1,654.14 crore in the year-ago period.

27.07 / 14:05

UPS FIVE Manufacturing Landmark Strategy show View: India should ramp up consumer subsidies for EVs, instead of rolling them back

electric vehicle (EV) strategies are. While the USA has extended its EV support policies through the landmark Inflation Reduction Act (IRA), India, on the other hand, recently cut subsidies for electric two-wheeler EVs (E2W) under the flagship demand incentive scheme, Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II). This decision could prematurely halt the growth of the EV sector in India.

27.07 / 13:23

Lowe's Reuters Manufacturing show cover fall Weekly jobless claims US economic growth accelerates in second quarter; weekly jobless claims fall

labor market resilience underpinned consumer spending, while businesses boosted investment in equipment, potentially keeping a much-feared recession at bay.Gross domestic product increased at a 2.4% annualized rate last quarter, the Commerce Department in its advance estimate of second-quarter GDP on Thursday. The economy grew at a 2.0% pace in the January-March quarter. Economists polled by Reuters had forecast GDP rising at a 1.8% rate.

27.07 / 12:59

Manufacturing Action SENSEX Warning Lupin says USFDA warning on Goa and Pithampur facilities are resolved

“We are pleased to be informed by the USFDA that we have addressed the concerns through our corrective actions related to the November 2017 Warning Letter," said Nilesh Gupta, MD of Lupin. «We are committed to being compliant with good manufacturing practices, and to uphold global quality standards and ensuring the quality of our products,” Gupta added.

27.07 / 12:45

UPS FIVE Digital Progressive Manufacturing electronic India’s semiconductor industry lagged due to past govts’ lack of vision: Rajeev Chandrasekhar

New Delhi: Minister of state for skill development & entrepreneurship and electronics & IT Rajeev Chandrasekhar on Thursday said that India’s semiconductor industry lagged behind due to the lack of political vision and strategic clarity exhibited by previous governments. Addressing the media ahead of the SemiconIndia Conference, scheduled to commence on 28 July in Gandhinagar, the minister highlighted the progress made by the present government in reviving India’s electronics ecosystem and propelling it to become one of the fastest-growing electronics manufacturing nations worldwide.

27.07 / 11:31

Target Digital Manufacturing Action band country Inside IMF raises red flag on India’s ban on export of non-basmati rice, experts say country’s food security concerns primary

India’s recent ban on export of non-basmati white rice has created quite a furore internationally. While on the one hand there are worries about the move likely to trigger a rise in global rice prices adversely impacting poor countries, there is also the need to ensure adequate supplies in the domestic market and keep prices in check. While the IMF has raised concerns about the move exacerbating volatility in food prices, experts say the picture on food inflation will be clear only after the monsoon plays out completely.

27.07 / 11:31

UPS Provident Manufacturing track electronic $10-billion semiconductor PLI to help India do in a decade what China did in 25-30 years: Rajeev Chandrasekhar

India is on track to becoming a key player in the global semiconductor supply chain in the next decade with USD 10 billion of incentives and assistance provided to encourage local chip manufacturing, Union minister Rajeev Chandrasekhar said on Thursday. The production-linked incentive scheme last year attracted firms like Vedanta and Taiwan’s Foxconn, who promised multi-billion dollar investment in setting up units to manufacture chips, which are used in products ranging from mobile phones to cars.

27.07 / 10:39

Provident Siemens Manufacturing Celebrity performer Balkrishna Industries, Siemens, 7 other stocks cross 20-day SMA

Balkrishna Industries and Siemens led the way, exemplifying strong performance in their respective industries. Let's explore the performance of these stocks. (Data Source: StockEdge)1. Balkrishna Industries Balkrishna Industries celebrated an upswing as its stock crossed the 20-day SMA at Rs 2393.92 and closed at Rs 2502.35 on July 26.

27.07 / 10:09

COST Target Digital Manufacturing Centre Centre mulling PLI scheme for chemicals & petrochemical industry, says FM

New Delhi: The Indian government will consider Production Linked Incentive (PLI) scheme for the chemicals and petrochemicals industry as it pushes to become a manufacturing hub, finance minister Nirmala Sitharaman said on Thursday. "We are in favour of making India a manufacturing hub," Sitharaman said at Ficci’s Global Chemicals & Petrochemicals Manufacturing Hubs in India Summit. “We will consider PLI for chemicals and petrochemicals.".

27.07 / 09:41

UPS Manufacturing Remark Nissan country Latin Renault Nissan’s Chennai plant achieves manufacturing milestone, produces 2.5mn cars

Renault and Nissan have been manufactured by the plant. Renault Nissan’s Chennai plant is spread over 600 acres at Oragadam, Chennai. RNAIPL has exported more than 1.15 million vehicles from Chennai's Kamarajar Port Ltd (formerly Ennore Port Ltd.) to more than 108 destinations including markets in the Middle Eastern countries, Europe, Latin America, New Zealand, Australia, South-East Asia, SAARC countries, and Sub-Saharan Africa.

27.07 / 09:41

MET Cooper Manufacturing Mobile BAY country foreign Japan's foreign minister Hayashi set for two-day India visit

New Delhi: Japan’s foreign minister Yoshimasa Hayashi is scheduled to visit India for two days, starting Thursday. Hayashi is expected to meet his Indian counterpart S Jaishankar during this visit, which is a part of his six-nation tour across Asia and Africa.

27.07 / 09:13

Manufacturing Micron IBM AMD electronic Govt will help to build ecosystem for chip manufacturing: MoS IT Rajeev Chandrasekhar

Rajeev Chandrasekhar said on Thursday. «The necessary policy framework is already in place to create a vibrant component ecosystem. And if there is any need for the government to intervene and create more PLI type of schemes, we will do so,» he said while addressing the media ahead of the 'Semicon India 2023' event in Gandhinagar.

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