Manufacturing Financial News

26.07 / 12:55

UPS Manufacturing track Vande Bharat trains register 99.6% utilization during Apr-June: Ashwini Vaishnaw

New Delhi: Railway minister Ashwini Vaishnav on Wednesday said that the utilization of Vande Bharat trains has reached 99.60% during April-June, highlighting the growing popularity and efficiency of high-speed trains among passengers. “In the current financial year 2023-24, the overall utilization of Vande Bharat trains has been recorded at an outstanding 99.60%," the minister said in a written reply to a question in Lok Sabha.

26.07 / 12:13

Target MET Manufacturing CEO Microchip country Stellantis Support Stellantis wants Italy government support to hit million model mark

MILAN (Reuters) — Stellantis CEO Carlos Tavares said a production target of one million vehicles in Italy it is discussing with Rome was well within reach but it could not be a one-sided commitment and the government must support it.

26.07 / 11:53

FIVE Manufacturing CME show EBITDA Deal Tech Mahindra Q1 Results: Profit, EBITDA to deal wins - five key takeaways from IT major's earnings

₹13,159 crore. Consolidated PAT (profit after tax) for the quarter under review came at ₹693 crore, down 38 per cent QoQ and 38.8 per cent YoY. Tech Mahindra's EBITDA for Q1FY24 came at ₹1,338 crore, down 33.8 per cent QoQ and 28.8 per cent YoY.

26.07 / 11:41

Provident FIVE Manufacturing CEO Airlines Boeing country boost Indian Air India aims to boost Indian cargo ecosystem, eyes 300% growth in 5 years

Air India has placed orders for wide-body aircraft of 34 A350-1000, six A350-900, 20 Boeing 787 Dreamliner, and 10 Boeing 777X wide-body aircraft, thus bolstering India’s cargo ecosystem, the airline announced on Wednesday. “At Air India, we see a huge potential in the air cargo industry, which the Indian Government plans to grow to 10 million tonnes by 2030.

26.07 / 11:29

UPS Waves Manufacturing Why AI will hurt women’s income more than men

Women have more to worry about than men from a coming wave of automation and artificial intelligence that could replace almost a third of hours worked across the US economy.

26.07 / 11:24

Manufacturing CEO BDK Valves & Gurukrupa Group complete 100% acquisition of Theis Precision

Tata Steel Ltd., specializes in specialty cold rolling of high/medium carbon steels in India. The company is also the only manufacturer of precision hot-rolled solid steel profile sections.

26.07 / 11:22

Manufacturing Action Entertainment Strategy Tech Mahindra Q1 Results: Net profit declines 38% to ₹692.3 crore on weakness in key segments

Tech Mahindra Q1 Results: Tech Mahindra announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 26, reporting a decline of 38 per cent in consolidated net profit at ₹692.5 crore, compared to ₹1,131 crore in the year-ago period. The fall in the company's profit was on the back of weakness reported in its key segments. The IT major's consolidated revenue from operations during the first quarter of current fiscal stood at ₹13,159 crore, reporting a rose of 3.5 per cent, compared to ₹12,707 crore in the year-ago period.

26.07 / 10:17

Target Manufacturing Mobile TikTok Xiaomi country electronic open Open to Chinese investment despite clashes, says govt

Rajeev Chandrasekhar, minister of state for electronics and information technology, told FT that despite India's crackdown on Chinese manufacturers and mobile applications, New Delhi is " Open to investment from China". Chandrasekar told The Financial Times that, " We are open to doing business with any company anywhere as long as they are investing and conducting their business lawfully and are in compliance with the Indian laws".

26.07 / 08:31

Manufacturing Strategy Barrett show Early votes at Bubs indicate spill at infant formula maker to fail

The long-running dispute between the current and former management of Bubs Australia is coming to an end with early voting indicating a proposal from dissident investors to spill the board of the infant formula manufacturer does not have the support of most shareholders.

26.07 / 08:21

Provident Reuters Manufacturing show country Deaths surges India's pharma export surges despite cough syrup deaths: Report

Gambia and Uzbekistan due to Made in India cough syrup dented country's image as the "pharmacy of the world" providing affordable drugs globally. Indian regulators are also inspecting the faulty drugmakers. The World Health Organisation (WHO) has flagged contamination with unacceptable amounts of diethylene glycol and ethylene glycol, which are toxic to humans when consumed and can prove fatal, in samples taken from a batch of cough syrup made by QP Pharmachem Ltd, based in Punjab.

26.07 / 08:21

Reuters Aviat Manufacturing Action Porsche Porsche's legendary 911 to remain the last combustion model in the lineup: Report

electric vehicles, aiming for them to constitute 80% of sales by 2030. According to a report by Reuters, the Porsche iconic 911 model will be the sole internal-combustion engine model left, as per a top executive's statement. Environmentalists and industry observers closely monitor Porsche's actions due to its investments in e-fuels and advocacy for the EU to permit sales of such vehicles post-2035.

26.07 / 07:59

UPS Digital Manufacturing CEO performer CEAT Q1 profit jumps multi-fold at Rs 144.61 crore on high demand, revenue up 4.1%

Tyre manufacturer CEAT Ltd posted a fiscal first quarter profit jump of 1463.4 per cent or almost a 15-fold increase at Rs 144.61 crore as against Rs 9.25 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 2935.17 crore, up 4.1 per cent as against Rs 2818.38 crore in the first quarter of financial years 2022-23. The company EBITDA stood at Rs 387.2 crore. CEAT recorded a total income for the quarter at Rs 2938.42 crore, up 4.2 per cent as against Rs 2821.14 crore a year earlier. However, the total expenses for the quarter stood at Rs 2739.14 crore, down 2.8 per cent from Rs 2816.66 crore during Q1FY23.

26.07 / 07:37

UPS Lowe's Manufacturing IFO show track week Dollar retreats from two-week high ahead of Fed decision

Investing.com — The U.S. dollar edged lower Tuesday, but remained near a two-week high as traders awaited a widely expected interest rate hike from the Federal Reserve later in the session.

26.07 / 07:13

COST UPS Provident Manufacturing Strategy track Q4 L&T margins should improve in Q4 of current year and next 4 quarters: CFO

R Shankar Raman, Whole-Time Director & CFO, L&T, says “as a strategy, the company is looking at asset-light return high areas of operations. Consequently, the cash that gets generated beyond the requirement of the company is meant for shareholders. Returning money to shareholders can take a couple of forms.

26.07 / 06:27

Provident Manufacturing Huawei Vodafone stage country Chinese telco ZTE is on the hunt for new routes into India

ZTE is in talks for transfer of technology and designs and formation of a joint venture with Indian companies, TOI reported. The move comes as the company is looking to freeze on the business amid Indian government’s constant concerns towards security. Apart from ZTE, Huawei is also facing the heat from the Indian government amid border tensions between the two Asian nations.

26.07 / 06:25

Manufacturing Shree Cement Q1 Results: Net profit jumps 84% to ₹581 crore; revenue growth at 19% YoY

Shree Cement Q1 Results: Shree Cement reported a sharp 84.2% on-year rise growth in its net profit for the quarter ended June 2023. The cement manufacturer posted a net profit of ₹581.1 crore in Q1FY24 as compared to ₹315.55 crore in the corresponding quarter of last fiscal. The company’s revenue from operations in Q1FY24 registered a growth of 18.9% to ₹4,999.1 crore as against ₹4,202.69 crore, YoY.

26.07 / 06:05

COST UPS Manufacturing show Time Japan says sees pick up in business sentiment for the first time in 7 months

TOKYO (Reuters) — Business sentiment in Japan is picking up in July on easing supply constraints and the removal of COVID-19 curbs, the first such uptick this year, a report by the cabinet said on Wednesday.

26.07 / 05:19

Citi Booking Manufacturing performer voice share price ITC Share Price Falls as Investors Disappointed with Demerger Ratio

hotel industry that are worth discussing today. The first is about booming hotel rates ahead of the scheduled ODI International World Cup. The 2023 men's cricket world cup will be hosted by India from 5 October 2023 to 19 November 2023.

26.07 / 05:19

UPS IPO Provident Manufacturing Enterprise band Premium share price Service Care share price reverses gains after listing at 5.8% premium

₹70.90 per share, 5.8 percent higher than the issue price of ₹67 on the NSE SME exchange. Post listing, Service Care share price was locked at 5% lower circuit at ₹67.35. The Service Care IPO is a small- and medium-sized enterprise IPO that consists of a fresh equity issue of up to 30.86 lakh shares for a maximum of ₹20.68 crore.

26.07 / 04:25

Provident FIVE Citizens Manufacturing Strategy country social NRF can help fast-track India's transformation to a knowledge economy

₹50,000 crore for five years and the goal of providing superior strategic direction for scientific research in India. Many previous “ahead-of-their-time" research funding bodies such as the Technology Development Board (TDB), Science & Engineering Research Board (SERB), Global Innovation & Technology Alliance (GITA), and Biotechnology Industry Research Assistance Council (BIRAC) have fulfilled their purposes quite well. However, none of them had the mandate for a broader vision to transform the research and innovation landscape and take India towards a knowledge economy.

26.07 / 03:27

UPS IPO Manufacturing BMW Deloitte Hero 500 Hero Motors may raise ₹1,500 crore from Dalal Street: Report

₹1,500 crore, as was reported in the news article by the Economic Times (ET). Mint could not independently confirm the news.

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