Manufacturing Financial News

lithium, which goes into batteries that drive electric vehicles (EVs) and is the focus of a global scramble for supplies with geopolitical undertones, given China’s lead on battery-making and efforts to tie up EV supply chains.  As it happens, India could potentially achieve lithium self-sufficiency and more, thanks to ample reserves found earlier this year in Jammu and Kashmir, a stash that could be as big as 5.9 million tonnes if early estimates are confirmed. While mining has long been state dominated in India, the logic of economic liberalization demands that it be done by those best placed for the task.  Private participation is, therefore, crucial for efficient reserve exploitation that would deliver the best results for us.

New Delhi: Indian airlines face a potential capacity shortage during the peak December quarter travel season, as aircraft induction plans of major carriers are progressing at a sluggish pace, according to data from aircraft tracking site Flightradar24 . Since the suspension of low-cost carrier Go First, domestic airlines’ fleet size has risen by just 0.9% to around 680. Only three major scheduled carriers, including market leader IndiGo, Tata Group’s Air India and startup carrier Akasa Air have added airplanes to their fleet since May.

New Delhi: Telecom and information technology minister Ashwini Vaishnaw called on the telecom industry to scale up telecom manufacturing efforts tenfold from existing level of ₹18000 crore, with policy support from the government under the production linked incentive or PLI scheme. " ₹18000 crore telecom manufacturing has already happened under the PLI scheme. Time to scale up to 4x, 5x, 10x and you're getting policy support from the government.

NEW DELHI : Production levels for all automotive segments except passenger vehicles (PVs) remained below their pre-pandemic record in the June quarter, according to data released by the Society of Indian Automobile Manufacturers (Siam) on Wednesday. Wholesale dispatches of PVs, two-wheelers and three-wheelers rose 9.4%, 11.2% and 89%, respectively, in the June quarter.

NEW DELHI : India is considering offering higher tariff concessions for bulk whisky imports compared to bottled whisky as part of the ongoing India-UK free-trade agreement (FTA) negotiations. The approach aims to encourage the import of intermediate products and address a contentious issue in the trade discussions. The Indian government contends that bulk whisky imports can generate employment by setting up bottling plants in the country, as against finished products.

In this article, we will explore some affordable sneakers for men under 500 that prioritize both comfort and style. From classic canvas sneakers to innovative athletic designs, plenty of options suit your personal taste and budget. So, whether you're looking for a versatile everyday shoe or a statement piece to elevate your outfit, we've got you covered with the best budget-friendly sneaker recommendations.List of the best Sneakers for men under 500

HCL Technologies were muted, broadly missing Street estimates. India’s third largest IT services firm reported 7.6 per cent year-on-year growth in consolidated net profit in the first quarter of fiscal 2024 ended on June 30, 2023. The IT major's profit after tax (PAT) declined by 11.27 per cent in Q1FY24 as against a profit of ₹3,983 crore recorded in the preceding March quarter of fiscal 2022-23.

The year 2023 marks an important and significant milestone for Indo-French relations as both countries celebrate the 25th anniversary of their strategic partnership, which was signed in 1998. Indian Prime Minister Narendra Modi will visit France on 14 July, where he will be the Guest of Honour at the Bastille Day parade. France rarely invites a partner country on Bastille Day, making this visit particularly exceptional.

Tata Technologies has offered to set up three common engineering facility centres (CBFCs) in Karnataka at an investment of Rs 2000 crore. The company representatives met industries minister MB Patil on Wednesday and submitted a formal proposal about their plans.

Muhammed Majeed, Chairman, Sami-Sabinsa Group, a company in the manufacture and export of nutraceuticals, said that the proposed amendments must serve the primary goal of the law, which would boost the industry and motivate it to collaborate with the farming community for sustainable management of bioresources in India. The Indian nutraceutical industry generates exports worth $1.5 billion annually. For the sector to realise its potential, the industry requests that the act recognize its value-added products as oleoresins, extracts, and isolated phytochemicals and include them in Section 2(p) of the act pertaining to value-added products, Majeed said in a press statement. He said that although, after much consideration, the definition of the non-Indian entity in Section 3(2) of the Bill has been amended, it was still not in harmony with Section 2(42) of the Companies Act 2013. There is the inclusion of the term «foreigner» in the amendment, which has caused uncertainty for the industry. In the interpretation of the law, there is a significant difference between the terms «foreign controlled company», «foreign company,» and «foreigner,» and hence the Act needs to be harmonised with the Companies Act. Majeed stated that, due to the requirement that importers of bioresources must approach the National Biodiversity Authority for clearance of each consignment, the industry is currently paralysed by production delays. But as per the UN Rio Declaration of 1992, each nation has sovereign rights over its own bioresources, and another nation cannot control them. Hence, the imported raw materials must be brought out of the purview of the act, he said.

Power Finance Corporation, a public financial institution focused on the power sector, has filed a draft shelf prospectus for Rs 10,000 crore non-convertible debentures (NCD) fundraise, the company said on Wednesday. The public issue of secured, rated, listed, redeemable non-convertible debentures of face value of Rs 1000 each aggregating up to Rs 10,000 crore (Shelf Limit) and will be issued in one or more tranches.

HCL Tech said. “Continuing its tradition of ideapreneurship and a culture of innovation, in Q1 FY24 a total of 21 patents were filed and granted (10 filings, 11 grants)," it added. The net profit of HCL Tech in Q1FY24 has missed street expectations as it rose by 7.65% year-on-year to ₹3,534 crore.

Vedanta has lined up partners for its semiconductor venture, chairman Anil Aggarwal said at the company's 58th Annual General Meeting (AGM) on Wednesday.  This comes after Foxconn's departure from their $20 billion joint venture to establish a semiconductor fabrication unit and display unit in India. The venture was previously expected to be the first of its kind in the country, backed by a $10 billion government-supported financial incentive scheme. “We will begin our historic foray in semiconductor fab and glass fab manufacturing, post government’s approval.

HCL Tech Q1 results: HCL Technologies earned a consolidated net profit of ₹3,534 crore, which is attributable to shareholders, in the first quarter of FY24, rising by 7.65% year-on-year. The tech player missed street estimates across parameters. A year ago, the company's PAT stood at ₹3,283 crore in the same quarter.

Go First's resolution professional (RP) challenging an earlier order that allowed lessors to inspect the airline's aircraft and their parts at regular intervals.  Lessors can now carry out inspections regularly. Additionally, the bench comprising chief justice Satish Chandra Sharma and justice Sajeev Narula has given the Directorate General of Civil Aviation (DGCA) 15 days to grant approvals to the airline for resuming operations. On 5 July, a single-judge bench of the Delhi High Court permitted the lessors of the airline to inspect and carry out maintenance work of Go First's 30 aircraft within the next three days.

Gujarat government is holding talks with Foxconn over a semiconductor plant, a top government official told Reuters, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India's Vedanta. «We are in touch with multiple prospective investors, including Foxconn… Gujarat is uniquely positioned to attract top chipmakers,» said Vijay Nehra, secretary of the science and technology department in Gujarat. Foxconn this week exited its project with Vedanta, which was also planned for Prime Minister Narendra Modi's home state of Gujarat, citing issues such as slow progress.

BSE MidCap stocks exhibited exceptional strength on July 12, surpassing their previous 52-week highs. These companies demonstrate their potential for growth and market resilience. Let's delve into the companies that achieved this significant milestone and their notable contributions to their respective industries.

Iran’s president has begun a rare visit to Africa as his country under heavy U.S. economic sanctions seeks to deepen partnerships around the world

The Environmental Protection Agency is enforcing stricter limits on hydrofluorocarbons, highly potent greenhouse gases used in refrigerators and air conditioners that contribute to global warming

Apple iPhone manufacturer Foxconn has announced it is backing out of a $19.5 billion semiconductor joint venture with Indian mining conglomerate Vedanta Ltd

Wall Street is inching higher ahead of an update on U.S. inflation that could play into the Federal Reserve’s next interest rate decision later this month