Manufacturing Financial News

18.07 / 13:49

UPS Provident BLOCK Aviat Manufacturing CEO GAIL, LanzaTech join hands to explore bio-recycling carbon waste into fuels and chemicals

New Delhi: GAIL (India) Ltd, the country’s largest gas distributor, and LanzaTech Global, an innovative carbon capture and utilization company that converts waste carbon into products that people use in their daily lives, have entered a partnership to explore innovative technology solutions that advance GAIL’s net zero 2040 goals and have the potential to support wider decarbonization applications globally. The partnership between GAIL and LanzaTech will focus on the development of a pilot-scale CO2 capture and conversion project.

18.07 / 13:49

UPS FIVE Manufacturing CEO Apple Xiaomi Time India ranks among Apple’s top 5 iPhone markets for the first time: Report

iPhone market in the second quarter. Apple's increased focus on distribution and marketing in India, seen as a critical future market by CEO Tim Cook, has resulted in India surpassing Germany and France in iPhone sales.

18.07 / 13:41

Digital Ford Manufacturing Forbes Chevrolet Features 2024 Chevrolet Traverse 2024: 2024 Chevy Traverse release date, interior design, safety features

The Traverse, which has seen only two generations since its inception, has remained largely unchanged since 2017. Consequently, Chevrolet is now preparing to introduce the fully redesigned 2024 Chevrolet Traverse early next year, as per the report in Forbes. The unveiling of the new Traverse took place at a special event held at the Lansing Delta Township Assembly plant in Michigan, where the vehicle is manufactured alongside the Buick Envoy.

18.07 / 13:25

Lowe's Manufacturing Action Discover J&J Low J&J allows nonprofit to distribute generic TB drug in low, middle-income countries

In a significant move, Swiss-based Global Drug Facility, a nonprofit organisation, has partnered with pharmaceutical giant Johnson & Johnson to supply generic versions of the anti-tuberculosis drug bedaquiline to low and middle-income countries. But the deal has been criticised as it does not ends the company’s monopoly over the drug’s global supplies. The agreement, signed with Global Drug Facility, an arm of Stop TB Partnership, allows the non-profit organisation to tender, procure, and supply generic versions of bedaquiline to 44 low- and middle-income countries.

18.07 / 12:47

UPS Lowe's Manufacturing Cotton output falls on crop switching, waning demand

NEW DELHI : India, one of the world’s largest cotton producers, risks becoming a net importer after both exports and production registered a record decline in the current financial year amid weak demand for textile products in the West due to the long-drawn Ukraine war. The United States Department of Agriculture (USDA) expects India’s cotton exports to slip to its lowest in 19 years during the current crop season between October 2022 and September 2023 as it expects farmers to shift to other profitable crops such as oilseeds and pulses.

18.07 / 11:59

UPS Twitter Manufacturing JPMorgan Citigroup guidance stake Earnings wave, Novartis guidance, ARK's Twitter stake - what's moving markets

Investing.com — Investors look ahead to a busy week of earnings, including quarterly results from some of the largest U.S. banks. Meanwhile, drug-making giant Novartis improves its guidance as it eyes a spin-off of its Sandoz generics division later this year, and Cathie Wood says her ARK investment management firm has written down its stake in Twitter.

18.07 / 11:19

COST Provident FIVE Digital Manufacturing Platform L&T Tech Q1 Results: Net profit jumps 13% to ₹311 crore; revenue rises 15%

₹311.1 crore. The net profit of the company jumped 13% from ₹275 crore during the same quarter in fiscal year 2022-23. The revenue of the company witnessed a 15% jump to ₹2,301 crore in Q1FY24 from ₹2,006 crore during Q1FY23.

18.07 / 11:19

UPS Amazon Manufacturing TCS Framework India to issue framework on $730 mn quantum mission in Aug

₹6,003.65 crore to develop expertise and capabilities in four main areas of quantum technologies—communications, computing, metrology and sensing, and materials. Over an eight-year term, the government aims to build up to 2,000 kilometers of quantum communications network and 1,000-qubit quantum computing power by enabling industry-academia partnership and facilitating startups to build quantum computing applications.

18.07 / 10:43

COST Manufacturing Software Enterprise UBS Warning Ansell shares plummet on glove glut, earnings warning

Gloves maker Ansell has warned a glut of unsold products following the coronavirus pandemic has now spread to surgical items, causing distributors to cut back on their orders.

18.07 / 10:07

IPO Digital Manufacturing CEO NOT boAt looking at IPO in FY25-FY26; definitely not listing this year, says co-founder Aman Gupta

boAt, which had earlier deferred its public share sale plans amid stock market volatility, is «not in a hurry» to go for a listing, and is looking at FY25-FY26 timeframe for the IPO, co-founder Aman Gupta said. In an exclusive chat with PTI on wide-ranging issues, Gupta said that his startup is «well capitalised» for now. There was a phase when startup IPOs were in fashion but then the markets turned choppy, Gupta recounted.

18.07 / 09:59

COST Manufacturing NOT Free replacement of parts under warranty not liable to GST: CBIC

GST Council meeting earlier this month. Free replacement of parts does not attract tax because the cost of replacement is included in the original sale of the item, CBIC said. "The value of original supply of goods (provided along with warranty) by the manufacturer to the customer includes the likely cost of replacement of parts and (or) repair services to be incurred during the warranty period, on which tax would have already been paid at the time of original supply of goods," said the CBIC order, explaining that in such cases no further tax is to be paid.

18.07 / 09:29

Citi Manufacturing Parke Welspun One’s second warehousing-focused fund raises ₹1,000 crore

₹1,000 crore within four months of launching its second fund. The company also announced a green shoe option to raise an additional ₹1,000 crore.

18.07 / 09:29

COST Provident Lowe's Progressive Manufacturing Auto stocks rise 25% in a year - what is driving the gains and what should investors do?

Motilal Oswal Financial Services pointed out that the demand recovery is sustaining across segments such as passenger vehicles (PVs), commercial vehicles (CVs) and two-wheelers (2Ws). Exports, too, seem to have largely bottomed out, though recovery may be gradual. Poddar said that the commodity cost continues to soften which would result in margin expansion.

18.07 / 09:29

UPS Manufacturing rights Piramal Pharma gets SEBI's green light to raise ₹1,050 crore through rights issue

₹1,050 crore through the rights issue of shares. The pharma company submitted the draft papers in March and obtained an observation letter from SEBI on 12 July. The company said that the amount will be utilized for payment of debt and general corporate purposes.

18.07 / 09:13

UPS IPO Provident Manufacturing rights Piramal Pharma's Rs 1,050-cr rights issue gets Sebi's nod

Piramal Pharma has received capital markets regulator Sebi's go-ahead to raise up to Rs 1,050 crore through rights issue of shares. The pharma firm, which filed draft papers with the regulator in March, obtained its observation letter on July 12, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday.

18.07 / 09:13

Provident Lowe's FIVE Booking Manufacturing Banner HAL After rising over 120% this year, will defence stocks strike again or run out of steam?

Defence stocks have been firing on all cylinders this year, with most of them giving double-digit returns, prompted by several deals ranging from technology transfer to India to arms manufacturing to strengthening of the Indian defence system under the 'Make in India' banner. Shares of Mazagon Dock Shipbuilders, India’s only shipyard to have built destroyers and conventional submarines for the navy, have gone through the roof, rising 122% so far this year.

18.07 / 08:37

Citi Provident Manufacturing Parke Welspun One Logistics Parks’ second warehousing-focussed fund raises Rs 1,000 crore

Welspun One Logistics Parks (WOLP) on Tuesday said it has raised Rs 1,000 crore within four months of launching its second warehousing-focussed fund. The company also announced the opening of its “green shoe” option to raise an additional Rs 1,000 crore.

18.07 / 08:27

COST UPS Manufacturing stake Rallis shares rally as Tata Chem picks up additional stake, but prospects bleak

₹782 crore. Still, Ebitda (earnings before interest, tax, depreciation, and amortization) drop was limited to 2.7%, due to a favourable product mix and cost control measures, marginally improving the Q1 Ebitda margin by 97 basis points to 14%.

18.07 / 08:27

Provident Digital Manufacturing Software Remark Interface Bessemer sees $200 bn market in online B2B marketplaces in India

New Delhi: India’s online B2B marketplaces could grow to become a $200 billion market opportunity by 2030, venture capital and private equity firm Bessemer Venture Partners said in a report released Tuesday. “As India’s $3.75 trillion economy grows to $6 trillion within the next decade, we anticipate a significant portion of this growth will be driven by the digital economy, which we estimate will grow from its current $100 billion to $1 trillion.

18.07 / 08:27

COST UPS Progressive Manufacturing Maruti Suzuki Grand Vitara hybrid SUV gets a price hike of ₹4,000: Check new price

Maruti Suzuki has increased the price of its Grand Vitara. The SUV has become expensive by ₹4,000. The hybrid SUV now costs ₹18.29 lakh (ex-showroom), with prices going up to ₹19.79 lakh (ex-showroom).

18.07 / 07:15

Manufacturing Action Health Ministry notice to 15 websites for selling e-cigarettes; social media sites under scanner

Health Ministry has sent notices to 15 websites selling e-cigarettes, which is banned in India, directing them to stop advertisement and sale of the products, official sources said. Six more websites are on the radar, they said, adding the ministry is also closely monitoring the advertisement and sale of e-cigarettes on social media and might issue notices to them soon.

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