Manufacturing Financial News

BYD Co, in conjunction with the privately held Hyderabad-based Megha Engineering and Infrastructures, has reportedly submitted a proposal to Indian regulators for the formation of an electric vehicle (EV) joint venture., as per Reuters. Reportedly, the strategic vision involves the establishment of a comprehensive range of BYD-branded electric vehicles (EVs) in India, spanning from hatchbacks to luxury models.

market capitalisationwhich is lower than small, mid, and large-cap stocks. Investing in microcap stockscan be a daunting task for beginners because of their lack of popularity and the low liquidity. However, they offer a huge opportunity for investors with some patience and risk tolerance.

equity market has seen a decent rally with the benchmark indices Sensex and Nifty hovering around record levels supported by positive global as well as domestic cues. The Nifty50 index touched its all-time high level of 19,567 on Thursday, and has seen a sharp rally of over 15% since its March 2023.

Join us as we delve into India's ambitious journey... moreJoin us as we delve into India's ambitious journey towards self-reliance in defense manufacturing and its impact on the global military hardware landscape.

Indian railways is likely to launch four new trains on Delhi-Chandigarh, Chennai-Tirunelveli, Gwalior-Bhopal and Lucknow-Prayagraj routes, a report by The Hindu has stated.  As per the report, these trains are likely to be launched by the end of this month. Officials also told the daily that of the four trains, only one route might have 16-coach while others are likely to be eight coach trains.  Meanwhile recently, railway officials had said that the rake of Indian-built semi-high-speed Vande Bharat Express will be 'saffron' in colour.

Elon Musk, Tesla is also exploring the possibility of utilizing India as a manufacturing hub to export cars to nations in the Indo-Pacific region, according to the same report. According to the report, the vehicles from Tesla will have a starting price of 2 million rupees ($24,400.66). This price point is more than double the cost of India's most affordable electric vehicle, the MG Comet, and half a million rupees higher than the Tata Nexon EV, which currently holds the position of the highest-selling electric car in the country.

foreign banks that have shut shop in the country or scaled down their operations. So far, foreign lenders such as South Africa's First Rand Bank and Abu Dhabi Commercial Bank have completely exited India, while others such as Citi Bank, Barclays, and BNP Paribas have scaled down their operations. This leaves around 44 foreign lenders operating in the country. There have been some murmurs about how these exits are linked to stricter compliance requirements for foreign lenders, and more banks may leave Indian shores, which doesn't augur well for the economy as a whole. Foreign banks have been lobbying for changes in Indian banking regulations, arguing for a level playing field, but the fact is that most of these exits are linked to global business strategies. Supported by resilient domestic demand, India's growth story is only going to get stronger. Already, India's state-run banks have turned around, and private sector lenders are also well placed to meet the demands of a growing economy. As per a report from Goldman Sachs Research, India may emerge as the world’s second-largest economy by 2075. It makes little business sense if foreign lenders choose to stay away or continue here with restricted operations. In this context, the question arises: Do foreign banks need to reinvent themselves to stay relevant in India?

Aarin Capital chairman T V Mohandas Pai has urged the state’s new Congress regime to plan a Suvarna Karnataka expressway from Bidar to Bengaluru as the party national president Mallikarjuna Kharge too hailed from that region. North Karnataka is home to manufacturing hubs, adding jobs, and contributing to the state’s revenue, the former Infosys director told ET, sharing his insights on the recent budget presented by chief minister Siddaramaiah.

Investing.com-- Singapore’s economy grew slightly more than expected in the second quarter, data showed on Friday, as resilience in construction activity and the service industry helped offset a sharp decline in manufacturing.

Narendra Modi is set to receive a prestigious recognition during his visit to France, as he will be the guest of honour at the Bastille Day 2023 military parade. The parade, taking place in Paris, will feature French and Indian soldiers marching down the iconic Champs-Elysees avenue. As a symbolic display of cooperation, the Indian Air Force's Rafale fighter jets, purchased from France in 2015, will participate in the fly-past over the renowned Arc de Triomphe.

«Similarly MFIs have been ignored for long but MFIs follow a cycle so if you get the cycle right the upside can be big.So MFIs and mortgage or housing finances within NBFCs where we are currently investing,» says Viral Berawala, Director, Buoyant Capital. Have you started buying pharma yet because that too is showing sparks that perhaps worst should be over, especially for generic exporters, pricing pressure and big demand for medicine in US.So there are sort of two buckets in which we have divided pharma. So there will be negative impact of lower chemical prices, especially the API prices have gone down. So within pharma which are very API driven is something we are not looking at but pharma where the exposure is more towards US generic, their prices have stabilised. The price erosion, normally what we are seeing this year, we are seeing much lesser price erosion. So within pharma, we like companies which are exposed more towards US generic and avoiding where the exposure is more towards APIs. In the auto, auto ancillary space, where all have you been looking for value? Anything which got you occupied there? So within auto, we are not into auto but especially auto ancillaries. So a couple of factors have played out in auto ancillary. Some of the auto ancillaries who are supplying to Europe, the cost of Europe auto ancillary manufacturers have gone down a lot, both tier-1 and tier-2. And that is where some of our, let us say forging companies have done very well. So within auto, that is the space we like. We participated a bit in the two wheelers but now we think the valuations are full on the two wheeler side. So auto ancillary, especially where there is some exposure to Europe, is we think a good place to be. Part of

tomato prices skyrocket, online grocery delivery firm BigBasket has a suggestion. «Tomato Prices Running High? Cook with Tomato Puree instead! Made with 100% ripe tomatoes,» the company urged on its mobile application. Online grocery delivery firms such as BigBasket, Zepto and Blinkit, along with several offline retailers, are witnessing a surge in demand for tomato puree and frozen vegetables as the prices of fresh produce hit the roof. Demand is so high that retailers are running out of stock and manufacturers are ramping up production. Fresh tomato prices were ruling at Rs 112 per kg in the retail market in Delhi, up from Rs 28 per kg about a month ago. A 200 ml container of puree, equivalent to using about 450 gm of tomatoes, costs Rs 27. A spokesperson for Dabur said that demand for tomato puree brand Hommade has surged and that it's working hard to keep up with it. Mother Dairy, one of the largest players in the puree and frozen vegetables segment, has seen a 300% increase in the demand for tomato puree and 50% increase in that for frozen vegetables at its stores in the last two weeks. «Production has been ramped up for our tomato puree to take care of the surge in demand,» said a spokesperson for Mother Dairy Fruit & Vegetable, which owns the Safal brand of purees and frozen vegetables.

electronics manufacturing hub. Given that level of ambition, we need to be prepared for setbacks — such as the news this week that Taiwan-based Foxconn would not, in the end, build a semiconductor factory in the western Indian state of Gujarat. This was a huge disappointment.

Foxconn is in talks with Taiwan Semiconductor Manufacturing Co (TSMC) and Japan’s TMH Group for technology and joint venture partnerships to start semiconductor fabrication units in India, said people with knowledge of the development. Foxconn and TSMC are both based in Taiwan. Foxconn, which ended its joint venture to make chips with India’s Vedanta Group earlier this week, has been talking to the two companies for some time now.

C Vijayakumar, CEO and managing director of HCLTech, said after the $12.6-billion company missed profit and revenue estimates for the first quarter of 2023-24 due to weakness in ER&D and telecom spends. Yet, India’s third largest software company has maintained its revenue growth guidance of 6-8% and 18-19% operation margin for the fiscal year. The company is confident about converting its existing deals pipeline into strong revenue growth over the next few quarters and sees an increasing number of cost optimisation opportunities balancing out the lack of discretionary projects in the market, Vijayakumar told ET’s Romita Majumdar, Sai Ishwarbharath andSurabhi Agarwal in an interview.

recruitment scandal at India’s largest software exporter Tata Consultancy Services (TCS) was a one-off code of conduct violation and not a “systemic failure,” said CEO and MD K Krithivasan, 58, adding that the incident was swiftly dealt with and has had no impact on relationships with clients. The $27.92 billion Indian IT company expects the demand environment to be muted. Customers are reassessing technology spends and postponing non-critical engagements, he told Romita Majumdar and Surabhi Agarwal in an interview.

New Delhi: India and the US are working together to ensure that there is not disruption in the global clean energy supply chain, said Bhupinder Singh Bhalla, secretary, union ministry of petroleum and natural gas. Addressing the US-India Energy Summit: ‘Partnering for a Sustainable Future’, the official noted that the recently announced US-India New and emerging renewable energy technologies action platform would help in reducing the cost of green hydrogen production as per the respective green hydrogen strategies of both the countries.

UK economy shrank slightly in May, hit partly by an extra public holiday for the coronation of King Charles III, official data showed Thursday. Gross domestic product decreased by 0.1 percent in May, the Office for National Statistics said in a statement. That beat expectations for a contraction of 0.3 percent and followed a 0.2-percent rise in April.

India, which is a key focus area, and plans are underway to set up defence service centres, maintenance, repair and overhaul (MRO) facilities and joint development of new weapons such as anti-tank missiles and air defence systems, besides helicopter engines. French missiles and bombs manufacturer MBDA told ET that a full weapons package is ready for the Rafale fighter jets being procured by the Indian Navy, saying it will «fit perfectly» with India's strategic ambitions in the Indo-Pacific.

Treasury Secretary Janet Yellen is visiting two of China’s neighbors where she has pushed firms to move their operations—just a week after she reassured officials in Beijing that the U.S. wasn’t out to sever trade and investment ties. The trip to India and Vietnam underlines a central tension in the U.S.-China economic relationship: Yellen and the Biden administration must figure out how to promote alternatives to China without further upsetting relations with Beijing.

SUV (sport utility vehicle) or MUV (multi-utility vehicle) the GST Council’s decision to change the definition of UVs that attract a compensation cess of 22% may have implications. Mint explains the changes and the impact on buyers. All motor vehicles, barring electric vehicles, are taxed in the highest GST slab of 28%.