Manufacturing Financial News

Paper is the environmentally superior alternative to plastic. Except, what if it’s not? In a series of recent studies, researchers presented hundreds of shoppers with two granola bars, and asked which is more environmentally friendly: the one in a plastic wrapper enclosed in an additional layer of paper, or an identical plastic-packaged bar, minus the paper. By a large margin, the research subjects chose the plastic-plus-paper option, despite the fact that they both contained the same amount of plastic and the over-packaged granola bar is clearly far less environmentally friendly.

TSMC posted a 23.3% fall in second-quarter net profit on Thursday as global economic woes dented demand for chips used in applications as varied as cars, cellphones and servers and coming off a strong period last year.Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc supplier, saw April-June net profit drop to T$181.8 billion ($5.85 billion) from T$237.0 billion a year earlier. That compared with the T$172.55 billion average of 21 analyst estimates compiled by Refinitiv.

Investing.com — Most Asian stocks firmed slightly on Thursday, although local technology shares were sold off on weak cues from Wall Street, and as investors turned wary of the sector ahead of earnings from chipmaking giant TSMC.

Investing.com — Taiwan Semiconductor Manufacturing Co (NYSE:TSM) (TW:2330), or TSMC, logged a higher-than-expected second-quarter profit as revenue from chip sales remained steady, although earnings were lower than last year as chip demand softened. 

«Let us not call it liquidity reversal because the previous trend was only like odd in some sense although it happens every now and then but generally FIIs are buyers as in the last 20 odd years they would have been buyers in maybe 16 of those years,» says Samir Arora, Helios Capital.Let us talk about the big picture and the big picture is that flows have turned and flows are looking very strong. When you speak to some of your investors and your LP associates, are you getting a sense that the liquidity reversal which has happened from April onwards it is real and it is here to stay?100% and let us not call it liquidity reversal because the previous trend was only like odd in some sense although it happens every now and then but generally FIIs are buyers as in the last 20 odd years they would have been buyers in maybe 16 of those years.

Olectra Greentech rose 3% to Rs 1,345 in Thursday's intraday trade on BSE after the electric bus manufacturer awarded a contract to Megha Engineering & Infrastructures (MEIL) for the construction of a greenfield electric vehicle manufacturing facility in Telangana. «We would like to inform you that, the Company has awarded a contract for the construction of the greenfield electric vehicle manufacturing facility on 150 acres of land situated at Seetharampur, Hyderabad, Telangana to Megha Engineering & Infrastructures (MEIL) which is the ultimate holding company and a related party to Olectra Greentech Limited,» the company said in an exchange filing. As per the contract, construction of the greenfield EV manufacturing facility will be completed within 12 months from the date of approval of the shareholders (July 19, 2023).

₹2.75 lakh + GST.  The primary goal of the Atom GP1 is to provide a platform for young talents to familiarize themselves with the power and track responsibilities before progressing to larger motorcycles. However, it is important to note that the Atom GP1 is exclusively intended for track use and is not street legal. Over the course of three years, CRA Motorsports painstakingly developed the Atom GP1.

India’s Tata Sons has confirmed plans to build a 4-billion-pound, or $5.2-billion, electric car battery factory in the U.K. The plant is expected to become one of Europe’s largest battery cell manufacturing sites when it begins production in 2026

«This is a big step from the entire group of Reliance Industries, having been successful on the retail and the telecom piece, they have really got on the retail side of the country's demand significantly,» says Sunil Shah, Veteran Fund Manager.Have you looked at the scheme of arrangement at Reliance Industries just for the sake of understanding the business model, their foray in Jio Financial and the way the stock has been? Jio Financial, of course, value will be decided but will you look at it later?This is a big step from the entire group of Reliance Industries, having been successful on the retail and the telecom piece, they have really got on the retail side of the country's demand significantly. And as a country, as we progress from about $2800 per capita to about $5000 over the next six-year journey, I think finance itself is going to be a big part of Indian consumer spend.Leverage and borrowing is no longer a bad word.

Samvardhana Motherson International (SAMIL), formerly Motherson Sumi, is looking to raise funds by issuing overseas bonds after five years. The company is gauging investor interest as it aims to garner more than $500 million equivalent through euro or dollar or yuan -denominated bond sales for growth and capital expenditure. The company roped in HSBC to reach out to investors in a non-deal roadshow earlier this week and it may consider issuing overseas bonds in the second half of the financial year, two sources said.

L&T FinanceL&T Finance Holdings has more than doubled its net profit for the first quarter at Rs 531 crore. Revenue from operations during the reporting quarter jumped 8% to Rs 3,223 crore.Tata CommunicationsTata Communications reported a 30% fall in net profit at Rs 382 crore for the first quarter ended June.

Investing.com — Dow futures were trading lower during Wednesday's evening deals, after major benchmark averages extended fresh 15-month highs, with traders digesting quarterly earnings results from major companies throughout the session.

First Solar of the US will invest «billions of dollars» for solar panel production in India that will not source materials from China, US energy secretary Jennifer Granholm told ET. She also indicated that Tesla is in discussions for investing in India. «India brings in the notion of scale, and the US' contribution is laboratories and efforts we are making to incentivise production.

Foxconn unit, which sells components to the likes of Apple and Lenovo to garner about a third of the Taiwanese contract manufacturer's aggregate revenue, is looking to build an operational facility in Tamil Nadu by next year, multiple people aware of the discussions told ET. Foxconn's parent company Hon Hai Technology already has large existing facilities in Tamil Nadu and is looking to further ramp up these sites. For instance, it manufactures iPhones for Apple exclusively in a facility in Sriperumbudur near Chennai.

Investing.com — Stocks were rising as investors took in a slew of corporate earnings, including a miss by Goldman Sachs (NYSE:GS) because of write-downs and a slump in investment banking.

NEW DELHI : India will soon announce a 40 nanometre (nm) semiconductor fabrication unit and multiple compound fab proposals under the modified semiconductor investment scheme, minister of state for electronics and IT Rajeev Chandrasekhar said. “We will certainly have, very soon, an announcement of a 40nm silicon fab. We will also have multiple compound fab proposals," Chandrasekhar said in an interview.

NEW DELHI : Go First must sign fresh lease agreements for 30-35 aircraft since lessors have already terminated the previous ones following its insolvency filing, two people aware of the development said, delaying the low-fare airline’s plans for a quick return to skies. “While the airline is making active efforts to relaunch flight operations, it will need to re-enter into fresh lease agreements or get the termination revoked by the lessors in case it wants to operate these 30-35 aircraft whose lease agreements were terminated around the time the airline filed for insolvency," one of the two people said. Go First filed for insolvency on 2 May and suspended operations with effect from 3 May, leaving a void of 6.8% in the domestic civil aviation market.

NEW DELHI : Tata Sons on Wednesday said it would invest £4 billion ($5.16 billion) to establish a new 40GW battery cell gigafactory in the UK. The cells will be utilized to supply to group companies Tata Motors and Jaguar Land Rover for their electric vehicles, as well as cater to renewable energy storage solutions for customers in Europe and the UK, the company said in a press release. “JLR and Tata Motors will be anchor customers, with supplies commencing from 2026", it said.

Retaining its earlier forecast, the Asian Development Bank (ADB) on Wednesday said India’s GDP is expected to grow by 6.4% in the ongoing financial year and 6.7% in FY25, driven by recovery in consumption demand and easing global commodity prices. The projections released by ADB were close to the Reserve Bank’s estimates of 6.5% real GDP growth for 2023-24. The ADB projections assume “normal rainfall and other weather factors, and no further geopolitical shocks".

NEW DELHI : The Union steel ministry has started industry consultations to frame India’s first stainless steel policy, an official aware of the matter said. The policy will aim to raise domestic capacity by nearly fivefold by 2047, from the current 6.6 million tonnes (mt) to 30 mt. A key objective of the policy is to reduce dependence on China for nickel, silicon and chromium, which are used to make stainless steel.

With an aim to build trust on the quality of drugs in the domestic and global markets, India's drug regulatory organisation is all set to introduce a new unified portal for developing a digital drugs regulatory system (DRS).