Manufacturing Financial News

Go Airlines' lenders as a party to their pleas for the deregistration of planes leased to the carrier, arguing before the Delhi High Court that the lenders are neither «proper» nor «necessary parties» in the case. Justice Tara Vitasta Ganju, while issuing formal notices to the aircraft lessors, the Directorate General of Civil Aviation and others, said the issue needed examination. Eight leasing companies are seeking deregistration and return of their aircraft. The HC posted the lenders' application for impleadment in the matter for hearing on August 3. The committee of creditors (CoC) formed for the airline's debt resolution has sought to be made a party to the case filed by the lessors, claiming that it is the «ultimate decision-making authority». Counsel Dheeraj Nair, appearing for the CoC, said any order passed in the case will pose a risk of lessors' interests getting priority over those of lenders. He argued that the CoC, which includes Central Bank of India, Bank of Baroda, Deutsche Bank, DB International Asia and IDBI Bank, has admitted claims of '5,117 crore. «There is a large exposure to public monies that is sought to be recouped by way of the CIRP (corporate insolvency resolution process) of the airline and its revival is essential in the larger national interest,» he contended.

Edited excerpts: What’s your view on JSW Steel’s Q1 performance amid challenges posed by declining steel prices and rising coal costs? In Q1, JSW Steel did fairly well. Higher coal costs seen in February-March came into cost structure during Q1. Coking coal prices rose by $11 a tonne over Q4, and we were able to mitigate that through a better blend.

NEW DELHI : The Prime Minister’s Office (PMO) has initiated discussions on the potential imposition of countervailing duty (CVD) on stainless steel, raising hopes within the industry that such an action will curb cheap imports from China and support small and medium producers in India, two people familiar with the development said. The PMO has started talks with the industry and the ministries of steel and commerce, the people said, requesting anonymity. “The PMO has sought details on the impact of not implementing CVD on local producers," one of the two people said.

₹468 crore, up 46% from ₹321 crore a year earlier. K. Gopala Desikan, chief financial officer, TVS Motor, said a combination of factors aided the impressive performance.

New Delhi: India’s No2 carrier, Bharti Airtel‘s business to business division has achieved a significant milestone in the Internet of Things (IoT) space, surpassing 20 million connected devices, the first enterprise to achieve this feat. According to Frost & Sullivan data, Airtel’s B2B division had a 54.3% share in this market in FY23.

Functionality is a key feature. Being seen with an Apple iPhone 14 Pro Max costing ₹1.9 lakh also provides features considered 'worth the value'. But a product's 'luxury quotient' alone can be enough for an increasing number of consumers.

ACC) batteries with support from the performance linked incentive (PLI) scheme are split down the middle in their demands from the centre. These views were collected during consultations called by the Ministry of Heavy Industries for bidding out 20 GW or Rs 7,240 crore worth PLI sops. “Some larger companies wanted to corner the entire 20 GW of PLI sops for one player.

Presidential candidate and Republican Florida Gov. Ron DeSantis is asking for an investigation of the state's investments in the company that makes Bud Light because of conservative backlash over a transgender social media influencer marketing the beve...

Australia says it will buy 20 new C-130 Hercules planes from the United States in a $6.6 billion deal that will increase by two-thirds the number of the Australian air force’s second-largest heavy transport aircraft

Wall Street is ticking higher to start a week full of updates on where interest rates and profits for the stock market’s most influential companies are heading

Excessive heat continues to bear down on sections of the United States, a reminder of the impetus for the The Inflation Reduction Act, the significant climate legislation that turns one year old on August 16

China’s government has appealed to Japan not to disrupt the semiconductor industry after Japanese curbs on exports of chip-making technology took effect, adding to technology restrictions Washington and its allies on security grounds have imposed on Be...

A tornado that tore through eastern North Carolina and struck a large Pfizer pharmaceutical plant has damaged its drug storage facility but not its medicine production areas

Federal land managers have pulled the plug on a Canadian mining company’s lithium exploration project near a national wildlife refuge in southern Nevada

MG Motor India, which faced disruptions in production through most of the past one year, said with an expected improvement in the supply chain in the second half of 2023, it will be able to clock a quarter of its sales from electric vehicles (EVs) this year. While limitations continue in availability of components amid global challenges, from the Russia-Ukraine war to logistical delays in intercontinental movement, supplies have started showing an improvement, said Gaurav Gupta, deputy managing director, MG Motor India. “We have started ramping up operations with easing of constraints in the supply chain.

Samvardhana Motherson International (SMIL) on Monday said it has acquired Germany's Dr. Schneider Group for $131.6 million. Dr.

By Safiyah Riddle

Shri Techtex on Monday said it has set a price band of Rs 54-61 per share for its initial share sale, which will hit the capital market on July 26. The public issue will conclude on July 28 and the bidding for anchor investors will open on July 25, the company said in a statement. The company's shares will be listed on SME Emerge platform of the National Stock Exchange after the initial public offer.

Reuters reports Monday, citing a person with direct knowledge of the matter, that Tesla (NASDAQ:TSLA) representatives are set to meet India’s commerce minister this month.

Maruti Suzuki, has recalled 87,599 vehicles to replace defective steering tie rods, the company said in a market filing. The automaker announced that it is recalling 87,599 units of its S-Presso and Eeco models, which are manufactured in between the 5th of July, 2021 and the 15th of February, 2023. «It is suspected that there is a possible defect in a part of steering tie rod, used in such vehicles, which in a rare case, may break and affect vehicle steerability and handling,» Maruti Suzuki said in a press statement.

biopharmaceutical company Gilead Sciences for an additional five years, including renewal and expansion of Cognizant's services, for a total expected value of $800 million. Under the agreement, the NASDAQ-listed IT firm will manage Gilead’s global IT infrastructure, platforms, applications and advanced analytics, and lead initiatives to accelerate its digital transformation.